US President Donald Trump says India has offered to cut its tariffs 'to nothing' even as he called the current trade stalemate with the country 'a totally one sided disaster'.
US tariffs of 50% on goods from India - which includes a 25% penalty for Delhi's refusal to stop buying oil from Russia - took effect last week.
India has not responded to Trump's latest comment but such war of words over Russian oil has caused Delhi-Washington ties to hit an all-time low.
Trump's comment coincides with Indian Prime Minister Narendra Modi attending the Shanghai Co-operation Organisation (SCO) summit in Tianjin where he met Chinese President Xi Jinping and Russian President Vladimir Putin.
Washington accuses Delhi of indirectly funding Russia's war in Ukraine by purchasing oil.
Trump stated, 'India buys most of its oil and military products from Russia, very little from the US,' asserting that Delhi should have cut tariffs 'years ago'.
India maintains that its energy supply from Russia is essential for its vast population and has branded the US tariffs as 'unfair, unjustified and unreasonable'.
Commerce Minister Piyush Goyal indicated that India would not appear weak in economic dealings with other countries and expressed a willingness to negotiate free trade agreements.
Trump remarked, 'What few people understand is that we do very little business with India, but they do a tremendous amount of business with us.' He characterized the relationship as 'totally one sided' and longstanding.
Despite these tensions, India was formerly the US's largest trading partner, and there are concerns that the sanctions could impede economic growth.
At the SCO summit, Modi was noted for a cordial meeting with Putin, reflecting the complexities of India's diplomatic relations in the current global landscape.
