MEA on Trump Tariffs: Jaishankar, Rubio discussed bilateral trade agreement, India values strategic partnership with US

The Union Ministry of External Affairs (MEA) said on April 9 that it was studying the implications of US President Donald Trump's reciprocal tariffs on India.

The Ministry said discussions are ongoing between the Indian and US trade teams to expedite the conclusion of a mutually beneficial multi-sectoral bilateral trade agreement. It added that India valued its comprehensive global strategic partnership with the US and was committed to working closely with it.

“On the 3rd, we had a detailed press release issued by the Ministry of Commerce where India's position was made clear. We are studying the implications of the tariffs that have been announced,” Ministry of External Affairs (MEA) spokesperson Randhir Jaiswal said on April 9 in response to a question about the India-US trade agreement.

Jaiswal also said that External Affairs Minister S Jaishankar and his US counterpart Marco Rubio held a telephonic conversation and discussed several issues, including regional developments, international developments and importance of early conclusion of the bilateral trade agreement.

Rubio held talks with Jaishankar on Monday (local time). When asked about talks between Jaishankar and Rubio during the press briefing, Jaiswal said, "they also discussed the importance of the early conclusion of the bilateral trade agreement. So, that was more or less what comprised the discussions between two leaders."

New Delhi studying the changes in America's new trade policy

New Delhi said on April 3 that it was studying the changes in America's new trade policy and see if any opportunities could arise for the country. In a statement, the Ministry of Commerce said that it is carefully examining the implications of the various measures and announcements made by the US administration.

The MEA spokesperson's response on Wednesday came hours after Trump's sweeping tariffs against around five countries, including India, came into force, triggering trade disruptions and fears of a global economic recession.

jAISHANKAR

“Reciprocal tariffs and discussions are ongoing between India and US Trade teams for an expeditious conclusion of a mutually beneficial multi-sectoral bilateral trade agreement. India values its comprehensive global strategic partnership with the US and is committed to working closely with it...Both teams are in discussion and hopefully we can close it,” he said as quoted by news agency ANI.

Earlier in the day, in the first detailed response to the US policy on tariff, Jaishankar said India is perhaps the only country to reach an understanding with Washington to seal a trade deal after Trump assumed the presidency for the second time.

The Minister, however, said that New Delhi's strategy to deal with the situation is to firm up a bilateral trade pact with Washington by the fall of this year.

"We decided that we will engage the Trump administration early on this set of issues and we were very open with them, very constructive with them as they were with us, and what we agreed to do was to try to negotiate a bilateral trade agreement by fall of this year," Jaishankar told Zakka Jacob at the Summit.

President Trump's 26 per cent tariffs on imports from India came into full effect on Wednesday morning.Trump announced the reciprocal tariffs on April 3 in the Rose Garden of the White House as part of his ‘Liberation Day’ announcement event.

(With agency inputs)