New York/Washington, 1 Sep

US President Donald Trump on Monday claimed that India has now "offered" to cut its tariffs to nothing, “but it’s getting late”, as he said that India buys most of its oil and military products from Russia and very little from the US.

"What few people understand is that we do very little business with India, but they do a tremendous amount of business with us,” Trump said in a post on Truth Social.

He added that India sells to the US, its biggest “client”, “massive" amounts of goods, “but we sell them very little - Until now a totally one sided relationship, 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 to sell 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 US. 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!!!” Trump said.

Trump’s comments come as Prime Minister Narendra Modi held bilateral discussions with Russian President Vladimir Putin and Chinese President Xi Jinping on the sidelines of the Shanghai Cooperation Organisation summit in Tianjin.

The Trump administration has imposed 25 per cent reciprocal tariffs on India and an additional 25 per cent levies for Delhi’s purchases of Russian oil, bringing the total duties imposed on India to 50 per cent, among the highest in the world.

Prime Minister Modi has asserted he can't compromise on the interests of farmers, cattle-rearers, small-scale industries, cautioning "pressure on us may increase, but we will bear it".

India has called the tariffs imposed by the US “unjustified and unreasonable”.

New Delhi said that, like any major economy, it will take all necessary measures to safeguard its national interests and economic security.

In 2024-25, the bilateral trade in goods stood at USD 131.8 billion (USD 86.5 billion exports and USD 45.3 billion imports).

Speaking at an event recently in Delhi, External Affairs Minister S Jaishankar said India has certain "red lines" in its negotiations for a trade deal with the US and it will stand firm in protecting the interests of farmers and small producers.

Jaishankar also sounded critical of the US for targeting New Delhi's energy ties with Moscow and wondered why the same yardstick has not been applied to China and the European Union, the largest importer of Russian crude oil and Russian LNG, respectively.

The negotiations for a bilateral trade deal between the two countries hit a roadblock after India refused to open up its agricultural and dairy sectors.