Donald Trump says he is willing to cut deals on reciprocal tariffs, may soon target pharmaceutical industry

US President Donald Trump reportedly said on Friday that he was open to making deals with countries seeking to avoid US' reciprocal tariffs. He, however, said those agreements would have to be negotiated after his administration announces reciprocal tariffs on April 2.

Speaking to reporters aboard Air Force One, Trump was quoted by Reuters as saying that he would soon be announcing tariffs targeting the pharmaceutical industry. He declined to give any details on when or at what tariff rate.

Trump told reporters countries including Britain had approached the United States to try to cut deals and avert the reciprocal tariffs.

"They want to make deals. It's possible if we can get something for the deal," he was quoted as saying. “But yeah, I'm certainly open to that. If we can do something where we get something for it,” Trump added.

Asked if such deals could happen before April 2, Trump said, "No, probably later. It's a process."

Trump said the reciprocal tariffs on countries that impose levies on American goods would kick in on April 2.

US-India trade talks

US President Donald Trump emphasized that tariff talks would "work out very well between India and our country".

"Prime Minister Modi was here just recently and we have always been very good friends," the US president said in the White House Friday.

"India is one of the highest tariffing nations in the world...it's brutal, it's brutal. They're very smart. He [Modi] is a very smart man and a great friend of mine. We had very good talks. I think it's going to work out very well between India and our country, Trump said.

"And I want to say you have a great prime minister," he said.

PM Modi had visited Washington DC in February and held bilateral discussions with Trump. The visit came less than a month after Trump was sworn in as US President for a second term.

Trump had earlier said that India was a very high-tariff nation.

(With inputs from Reuters)