Former President Donald Trump recently claimed India slapped 175% tariffs on U.S. goods, a number he stood by in a March 2025 meeting with tech leaders . Among them, Tesla CEO Elon Musk and U.S. Commerce Secretary Howard Lutnick. Focus? Semiconductor supply chain, boosting domestic manufacturing.
Trump fumed over what he saw as unfair trade, especially from China with tariffs he said hit 150% to 200%. He slammed U.S. dependence on Taiwan, which churns out about 70% of global semiconductors,90% of advanced chips. Called for shift back home.
Regime Change: Inside Imperial Presidency of Donald Trump by Maggie Haberman and Jonathan Swan reveals Trump's trade discontent. March 10, he said,“The U.S. gave it all away,” bemoaning Taiwan's chokehold on chip market . Musk,ex-DOGE chief,echoed fears . Warned U.S. would have just 30% of TSMC's capacity by 2029.
Trump's rhetoric heated up,threatening severe tariffs for companies not making in U.S. “Those who won’t build here are going to have massive tariffs to pay…not 20 percent, like 100 percent,” he declared, doubling down on his stance against China and India.
March 26,Trump in tense meeting with economic team over tariff plans. Frustrated by lack of clear data, he snapped,“Nobody has fuc given me any numbers.” Lutnick presented U.S. Trade Representative figures,Trump dismissed them as “bull numbers,” insisting real tariffs were much higher.
Trump's tariff talks fed into broader strategy before his "Liberation Day" move,slapping 25% tariff on Indian imports. Then, he doubled tariffs on Russian oil to 50% later that year.
February 2025,U.S. and India agreed to cut tariffs on Indian goods from 25% to 18%,aiming to boost trade. But legal challenges, including U.S. Supreme Court ruling nixing Trump's broad tariffs,forced a rethink of trade terms .
As both countries try to finalize trade deal by July 24,they face return of normal Most Favored Nation (MFN) tariff rates. Could complicate U.S.-India trade talks. Ongoing efforts to sort out trade complexities continue amidst shifting politics…
