'Nothing is decided till...': S Jaishankar on India-US trade deal amid Trump's 'zero tariff' claims

External Affairs Minister Dr S Jaishankar on Thursday said that nothing was decided as yet on the India-US trade deal and that negotiations were still underway. "Between India and the US, trade talks have been going on. These are complicated negotiations. Nothing is decided till everything is," he said while speaking to reporters. "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."

His remarks come hours after US President Donald Trump, speaking in Doha during his West Asia tour, said, “India offered the US a deal, basically zero tariffs.” The comment, reported by Bloomberg, signalled potential progress in the long-running trade discussions between Washington and New Delhi, but lacked specifics on the scope or sectors covered.

New Delhi has not officially confirmed the offer, leaving unanswered questions on whether the proposal spans all categories of American exports or is limited to selected sectors. Just a day earlier in Michigan, Trump had said tariff talks with India were “going great” and hinted at a possible breakthrough. The statements come as Trump rolls out a new executive order focused on bolstering the US auto industry.

In a related move, the US had suspended additional tariffs on Indian exports for 90 days, from April 10 to July 9, acknowledging forward movement in talks. This followed Trump’s April 2 decision to impose blanket tariffs on imports from nearly 60 countries—including a 26% duty on Indian goods like shrimp and steel.

The ongoing tariff offensive is part of Trump’s strategy to narrow the US trade deficit and boost domestic manufacturing. Indian exporters, especially in the seafood and metals sectors, have faced the brunt of this policy shift. If finalised, the reported offer from India could mark a reset in trade ties and ease bilateral pressure ahead of the July deadline. But for now, as Jaishankar made clear, “nothing is decided till everything is.”