President Donald Trump said on Thursday that India has offered to eliminate tariffs on the United States as part of a potential trade deal – but New Delhi soon poured cold water on Trump’s claims, saying negotiations were not complete.

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.

President Donald Trump said India has made an offer to drop tariffs on US goods, as the Asian nation negotiates a deal to avert higher import taxes.