India Pushes US For 'Early Conclusion Of Bilateral Trade Agreement' Amid Trump's Reciprocal Tariffs, Jaishankar Talks To Rubio

Just days prior to the implementation of the 26 per cent reciprocal tariffs on India by the US administration under President Donald Trump, a conversation took place between External Affairs Minister S Jaishankar and US Secretary of State Marco Rubio.

Sharing about the conversation, Jaishankar posted on X, "Exchanged perspectives on the Indo-Pacific, the Indian sub-continent, Europe, Middle East/West Asia and the Caribbean. Agreed on the importance of the early conclusion of the Bilateral Trade Agreement. Look forward to remaining in touch.”

Negotiations on the trade deal between India and the US commenced following a meeting between Prime Minister Narendra Modi and Trump in Washington, DC in the middle of February.

Contrary to the anticipation in Delhi last week that India might escape, the US declared reciprocal tariffs. The baseline tariffs of 10 per cent for all nations were implemented from 5 April, while the reciprocal tariffs of 26 per cent came into force on 9 April.

The Commerce and Industry Ministry stated last week that it is currently reviewing the potential impacts of Trump's declarations. It is actively involved with all parties concerned, such as the Indian industry and exporters, to evaluate the circumstances and pinpoint any opportunities that might emerge as a result of these recent changes in US trade policy.

Trade talks are currently in progress between Indian and US trade representatives, aiming to quickly finalise a multi-sectoral Bilateral Trade Agreement that benefits both parties, according to the ministry.

The discussions encompass a broad spectrum of mutually interesting subjects, such as the enhancement of supply chain integration. The central aim is to facilitate the growth of trade, investment, and technology transfers between the two nations, the ministry stated.

“We remain in touch with the Trump administration on these issues and expect to make progress in the coming days,” the ministry had said.