President Trump argues that tariffs up to 50% on foreign imports will benefit the US economy, claiming that high tariffs will attract companies to manufacture domestically.

Treasury Secretary Scott Bessent revealed Wednesday that he expects India to strike the first bilateral trade deal to avoid President Trump’s suite of “reciprocal” tariffs — with any potential agreement with China “put to the side” for now.

Speaking to reporters in the Oval Office, Donald Trump on Wednesday indicated he had received inputs suggesting India plans to lower tariffs on certain goods.