However, reacting to Donald Trump’s claim that India has offered a trade deal with “literally zero tariffs”, external affairs minister 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,” S Jaishankar said while speaking to reporters.

Also Read | Donald Trump claims India offered US a ‘zero tariffs’ trade deal

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% 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.”

Trump’s remarks suggest that while some countries may be signalling readiness to reset their trade relationship with the United States before a pause on higher import duties expires in July, some of these nations might have to witness the US making unilateral decisions about the rates they will face.

The comments come as the Trump team eyes a broader reshaping of global trade dynamics. Earlier Friday, Trump said he is planning to set new import duty rates for trading partners over the “over next two to three weeks.”

Trump on US trade deal with India and Pakistan

Trump said he also dangled the prospect of expanded trade with India’s rival Pakistan.

The President previously said it was a factor in the US effort to broker a ceasefire understanding between the two countries amid their ongoing border disputes following the Pahalgam terror attack in India.

“I’m using trade to settle scores and make peace,” Trump said. 

Also Read | Islamabad says India-Pakistan ceasefire extended till May 18: Report

The US has also sought to de-escalate a trade fight with China, a move Trump framed as an act of generosity to the world’s second-largest economy. After recent talks, the US slashed its rate on China to 30% from 145%, and Beijing lowered its tariff levels from 125% to 10%, with the countries looking toward further discussions.

“If I didn’t do that deal with China, I think China would have broken apart,” Trump said. 

(With Bloomberg inputs)