Donald Trump Tariffs Live Updates: Donald Trump says India willing to remove 100 per cent tariffs on US goods

US President Donald Trump's decision to impose a 5 per cent tax on international remittances sent by non-citizens will significantly impact Indian households, said Global Trade Research Initiative (GTRI), a trade-focused research Group, in its latest report.

The proposed US legislative move has triggered alarm across the globe, particularly in India, which has been one of the biggest beneficiaries of the US remittances.

These provisions are part of a major legislative package titled 'The One Big Beautiful Bill', introduced in the US House of Representatives on May 12.

If enacted, the legislation would target money transfers made by non-US citizens, including green card holders and workers on temporary visas like H-1B and H-2A. The proposed legislation exempts American citizens.

After United States President Donald Trump claimed that India had offered the US a Zero-tariff deal on a reciprocal basis, Congress MP Manish Tewari questioned BJP-led central government's trade policy and demanded an explicit answer from the government.

In a social media post on X, Tewari said, "Is it a fact that India has offered a Zero Tariff deal to the United States? That needs an explicit answer from the Government?"

Congress leader Jairam Ramesh has also raised questions on Trump's claims. He further questioned Prime Minister Narendra Modi's silence on this issue.

"The Commerce Minister is in Washington DC and President Trump has made yet another grand announcement from Doha. There is total chuppi from our PM. What has he agreed to and what linkage is there between this and the stoppage of Operation Sindoor? Ramesh posted on X.

Earlier today, US President Donald Trump claimed that India offered a deal with "basically zero tariffs" on US goods, but didn't provide specifics.

"They have offered us a deal where we're basically they're willing to charge us no tariff literally," President Trump said while addressing a news conference in Doha.

The US had imposed a 26% reciprocal tariff on India, which was later suspended for 90 days as negotiations showed signs of progress. (ANI)

Vice President Jagdeep Dhankhar on Saturday said that people cannot help economies of nations, through import or travel, that are inimical to the interests of India. His remarks came amid trade and tourism boycott of Turkiye and Azerbaijan following their support to Pakistan in the conflict with India after Operation Sindoor.

Addressing an event here, the vice president said every individual is empowered to help the nation in security. Trade, business, commerce, and industry in particular can play a pivotal role in security issues, he observed.

"Can we afford to empower countries that are inimical to our interests? Time has come when each one of us must deeply think about economic nationalism," he said.

Dhankhar said, "We can no longer afford, by travel or import, to improve economies of those countries because of our participation. And those countries, in times of crisis, are positioned against us."

He said everything has to be reckoned on the fulcrum of unflinching commitment to nationalism. (PTI)

Wall Street stocks rose again Friday, adding to weekly gains fueled by deescalation of the China-US trade war and hopes for additional international trade deals.

Equity markets have enjoyed one of their best weeks since US President Donald Trump's "Liberation Day" tariff bazooka last month caused indices to slump.

FHN Financial's Chris Low also pointed to a "growing sense of relief" over benign US inflation data that has helped counter worries that Trump's tariffs will dramatically reignite pricing pressure.

The United States and China on Monday announced they would slash their tit-for-tat tariffs for 90 days to allow for talks, but considerable levies remain in place.

Investors are now awaiting signals from the US president on progress in trade talks, as countries seek deals to avoid his steeper levies, as well as more information about their economic impact.

The broad-based S&P 500 rose for the fifth straight session, adding 0.7 percent. (AFP)

US President Donald Trump has claimed that India offered to remove all tariffs on American goods, but added that he was in no rush to finalise a trade deal despite the apparent breakthrough.

In an interview with Fox News on Friday, Donald Trump said India is a top example of a country with barriers he is determined to dismantle.

"They make it almost impossible to do business. Do you know they're willing to cut 100 per cent of their tariffs for the United States?" the President said.

But Trump also sent mixed signals on how close a deal could be, saying, "That'll come soon. I'm in no rush. Look, everybody wants to make a deal with us."

He added that he is not planning to "make deals with everybody."

However, reacting to Donald Trump's claim that India has offered a trade deal with "literally zero tariffs," External Affairs Minister (EAM) S. Jaishankar on Thursday said that the ongoing negotiations are complex and far from final.

"Between India and the US, trade talks have been going on. These are complicated negotiations. Nothing is decided till everything is. Any trade deal has to be mutually beneficial; it has to work for both countries. That would be our expectation from the trade deal. Until that is done, any judgment on it would be premature," EAM Jaishankar said while speaking to reporters. (IANS)

President Donald Trump on Saturday ripped into Walmart, saying on social media that the retail giant should eat the additional costs created by his tariffs.

As Trump has jacked up import taxes, he has tried to assure a skeptical public that foreign producers would pay for those taxes and that retailers and automakers would absorb the additional expenses. Most economic analyses are deeply skeptical of those claims and have warned that the trade penalties would worsen inflation. Walmart warned on Thursday that everything from bananas to children's car seats could increase in price.

Trump, in his Truth Social post, lashed out at the retailer, which employs 1.6 million people in the United States. He said the company, based in Bentonville, Arkansas, should sacrifice its profits for the sake of his economic agenda that he says will eventually lead to more domestic jobs in manufacturing.

“Walmart should STOP trying to blame Tariffs as the reason for raising prices throughout the chain,” Trump posted. “Walmart made BILLIONS OF DOLLARS last year, far more than expected. Between Walmart and China they should, as is said, “EAT THE TARIFFS,” and not charge valued customers ANYTHING. I’ll be watching, and so will your customers!!!”

The posting by the Republican president reflected the increasingly awkward series of choices that many major American companies face as a result of his tariffs, from deteriorating sales to the possibility of incurring Trump's wrath. Trump has similarly warned domestic automakers to not raise their prices, even though outside analyses say his tariffs would raise production costs. (AP)