Washington: US President Donald Trump has claimed that India offered to remove all tariffs on American goods, but added that he was in no rush to finalise a trade deal despite the apparent breakthrough.

President Donald Trump said on Thursday that India has offered to eliminate tariffs on the United States as part of a potential trade deal. If that comes to pass, it could represent a significant breakthrough with an increasingly important US trading partner.

Moody’s downgraded the United States’ sovereign credit rating from its top-tier Aaa to Aa1, citing escalating national debt, soaring interest costs, persistent fiscal deficits, and political dysfunction in Washington.