President Donald Trump said that India has offered to cut all its tariffs on US goods but downplayed any sense of urgency to reach a trade agreement with the world’s fourth-largest economy.

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.

Platforms that have invested heavily in Indian originals with cross-border appeal may face cost escalation unless they can restructure their productions with a US co-production or find other workarounds.