NEW: Trump says India offering to cut all tariffs in US trade agreement

President Donald Trump has said that India is offering to cut all tariffs imposed on US goods going to India. The announcement comes as the president has been working to secure a trade agreement with the country.  

Trump posted to Truth Social, "What few people understand is that we do very little business with India, but they do a tremendous amount of business with us. In other words, they sell us massive amounts of goods, their biggest 'client,' but we sell them very little - Until now a totally one sided relationship, and it has been for many decades."

"The reason is that India has charged us, until now, such high Tariffs, the most of any country, that our businesses are unable to sell into India. It has been a totally one sided disaster! Also, India buys most of its oil and military products from Russia, very little from the U.S. They have now offered to cut their Tariffs to nothing, but it’s getting late. They should have done so years ago. Just some simple facts for people to ponder!!!" Trump added.

The message from Trump comes as Indian Prime Minister Shri Narendra Modi met with Russian President Vladimir Putin and Chinese President Xi Jinping over the weekend at a summit, with China appearing push for cooperation between the countries in opposition to Trump and policies from the US on trade.  

India has long been seen as a crucial partner in trade with the US as a counterweight to the influence of China. Xi did not name Trump explicitly, but was critical of the "bullying behavior” coming from other countries, per NBC News.  

“We must continue to take a clear stand against hegemonism and power politics, and practice true multilateralism,” the Chinese leader said.