News India Times

www.newsindiatimes.com – that’s all you need to know India Minister Says Country Hopes To Clinch US Trade Deal By November “It Has Been A One-Sided Disaster… They Have Now Offered To Cut Their Tariffs To Nothing”: Trump On US-India Business Ties W ith the Indian goods facing a steep 50 per cent tariffs in US imposed by his administra- tion, President Donald Trump has claimed that business relationship between the two countries for many decades has been “totally one sided”, “one-sided disaster” and also that “they have now offered to cut their tariffs to nothing, but it’s getting late”. In a post on Monday, Sept. 1, 2025, on his social media handle Truth Social, Trump said India has charged US “such high tariffs, the most of any country, that our busi- nesses are unable to sell into India”.“What few people understand is that we do very little business with India, but they do atremendous amount of business with us. In other words, they sell us massive amounts of goods, their biggest “client,” but we sell them very little – Until now a totally one sidedrelationship, and it has been for many decades. The reason is that India has charged us, until now, such high Tariffs, the most of any country, that our businesses are unable tosell into India,” he said. “It has been a totally one sided disaster! Also, India buys most of its oil and military products from Russia, very little from the U.S. They have now offered to cut their Tariffs to nothing, but it’s getting late. They should have done so years ago. Just some simple facts for people to ponder!!!” he added. Trump announced 25 per cent tariffs on India in July amid negotiations for a BTA between the two countries. He later announced 25 per cent secondary tariffs for In- dia’s import of Russian oil with 50 per cent tariffs coming into effect from August 27. Meanwhile, US Embassy in India on Monday has emphasized the enduring bond betweenWashington and New Delhi, describing it as a defining relationship of the 21st century, reflecting the broader framework of coop- eration beyond economic ties. “The partnership between the United States and India continues to reach new heights — a defining relation- ship of the 21st century. This month, we’re spotlighting the people, progress, and possibilities driving us forward. From innovation and entrepreneurship to defense and bilateral ties, it’s the enduring friendship between our two peoples that fuels this journey. Follow the hashtag and be a part of #USIndiaFWDforOurPeople,” US Embassy said in a post on X. It shared a quote by US Secretary of State Marco Rubio who called the friendship between the peoples of India and the US to be the bedrock of cooperation. “The enduring friendship between our two peoples is the bedrock of our cooperation and propels us forward as we realise the tremendous potential of our economic relationship”. -ANI PHOTO:REUTERS/Eduardo Munoz/File Photo U.S. President Donald Trump holds a ‘Make America Great Again’ (MAGA) hat as he attends the commencement ceremony at West Point Military Academy in West Point, New York, U.S., May 24, 2025. “Will Get This Solved”: US Treasury Secy On India-US Tensions U S Treasury Secretary Scott Bessent expressed confidence that India and the US will resolve trade friction between them, as he believed that New Delhi’s values are much closer toWashington than to China and Russia. In an interview with Fox Business, Scott Bessent, how- ever, downplayed the significance of the Shanghai Coopera- tion Organisation (SCO) Summit, calling it “largely perfor- mative.” “This is a longstanding meeting, it’s called the Shanghai Cooperation Organisation and I think it’s largely performa- tive,” Bessent said. “I think at the end of the day, India is the most populous democracy in the world. Their values are much closer to ours and to China’s than to Russia’s.” “I think at the end of the day, two great countries will get this solved. But the Indians have not been great actors in terms of buying Russian oil and then reselling it, financing the Russian war effort in Ukraine,” he told Fox Business. Bessent’s remarks come amid the rising friction between Washington and New Delhi due to the 50 per cent tariffs im- posed on Indian goods, which include a 25 per cent penalty for buying Russian oil. On the other hand, White House trade adviser Peter Navarro attacked India, targeting Prime Minister Narendra Modi for meeting with Russian President Vladimir Putin and Chinese President Xi Jinping. Speaking with reporters, Navarro lambasted PMModi for what he termed “getting in bed with the authoritarian”, describing the meeting as shameful. He also pressed that India needs the US, Europe and Ukraine and not Russia, urging New Delhi to stop purchas- ing discounted crude oil fromMoscow. PMModi, in his address at SCO, stressed the need to boost connectivity between the members to boost trade. “India has always believed that strong connectivity not only boosts trade but also opens doors to growth and trust,” PMModi said. Russian President Putin said that dialogue within the SCO helps lay the foundation for a new Eurasian security system, replacing outdated Eurocentric and Euro- Atlantic models. “The SCO is steadily increasing its influence in address- ing international issues. National currencies are being used more widely in mutual settlements for trade among SCO countries. The pace of development of cooperation within the SCO is impressive,” said Putin. Additionally, Chinese President Xi Jinping called on the Shanghai Cooperation Organisation to uphold fairness and justice while addressing the 25th Meeting of the Council of Heads of State of the SCO. “We must promote a correct historical perspective on WorldWar II, and oppose the ColdWar mentality and block confrontation and bullying practices,” Xi said. -ANI PHOTO:REUTERS/Elizabeth Frantz/File Photo PHOTO:REUTERS/ArndWiegmann/File Photo U.S. Treasury Secretary Scott Bessent speaks to reporters at the U.S. Capitol as Republican lawmakers struggle to pass U.S. President Donald Trump?s sweeping spending and tax bill, on Capitol Hill in Washington, D.C., U.S., June 27, 2025. India’s Commerce Minister Piyush Goyal takes part at the panel discussion “Trade: Now what?” during the World Economic Forum 2022 (WEF) in the Alpine resort of Davos, Switzerland May 25, 2022. I ndia hopes to conclude a bilateral trade agreement with the United States by No- vember, Commerce Minister Piyush Goyal said at an investor conference in Mumbai on Tuesday. Trade negotiations with the European Union are progressing and relations with China are “re- turning to normal” as border tensions ease, Goyal said in a virtual address. India has already finalized trade agreements with Mauritius, Australia, EFTA, the UK, and the UAE, he said at another event. The United States is India’s largest trading partner, but relations have become strained amid disputes over tariffs and New Delhi’s purchases of Russian oil. Washington imposed a 50% tariff on key Indian exports from August 27. -ANI US-India News India Times (September 6, 2025 - September 12, 2025) September 12, 2025 9