Overview
- Excerpts published June 24 from Regime Change report that President Trump dismissed USTR statistics as “bullshit” during a meeting and argued loudly with Commerce Secretary Howard Lutnick over India tariff figures.
- The book says Trump insisted India charged roughly 175 percent on some U.S. goods, a figure far above official measures from USTR and the WTO that show India’s average applied tariffs near the low teens.
- That dispute preceded the 2025 U.S. measures that first imposed a 25 percent tariff on Indian imports in April and then added a separate 25 percent oil‑linked surcharge in August, raising the total to 50 percent for many products.
- New Delhi and Washington announced a February 2026 framework to lower U.S. reciprocal tariffs toward 18 percent and remove the oil surcharge after India’s commitments, but a U.S. Supreme Court ruling, fresh USTR Section 301 probes, and ongoing ministerial talks leave implementation unclear.
- The episode exposes how presidential skepticism of government data shaped a hardline trade stance, creating risks for exporters, supply chains, and bilateral ties while negotiators and courts decide whether the February framework will take effect.