- Saturday, April 12, 2025
In a post on X, Jaishankar said it was agreed on the importance of the early conclusion of the bilateral trade agreement between India and the US
By: India Weekly
FOREIGN MINISTER Subrahmanyam Jaishankar and US secretary of state Marco Rubio held a call on Monday (7) to discuss US tariffs on India and how to make progress towards a “fair and balanced trade relationship,” the State Department said.
Jaishankar also said on social media earlier on Monday that he had spoken to Rubio about the early conclusion of a bilateral trade deal.
In a post on X, Jaishankar said it was agreed on the importance of the early conclusion of the bilateral trade agreement between India and the US.
“Good to speak with @SecRubio today. Exchanged perspectives on the Indo-Pacific, the Indian subcontinent, Europe, Middle East/West Asia and the Caribbean,” he said.
Trump said last week that he would impose a 10 per cent baseline tariff on all imports to the US and higher duties on dozens of other countries, including some of Washington’s biggest trading partners, rattling global markets and bewildering US allies.
India does not plan to retaliate against Trump’s 26 per cent tariff on imports from the Asian nation, an Indian government official said on Sunday (6), citing ongoing talks for a deal between the countries.
“They also discussed US reciprocal tariffs on India and how to make progress toward a fair and balanced trade relationship,” the State Department said in a statement.
“Agreed on the importance of the early conclusion of the Bilateral Trade Agreement. Look forward to remaining in touch,” Jaishankar said on X.
Last month, US Assistant Trade Representative Brendan Lynch visited India and held talks with his Indian interlocutors on firming up the bilateral trade agreement.
Following talks between prime minister Narendra Modi and Trump in Washington DC in February, the two sides announced to negotiate the first tranche of the bilateral trade agreement by fall 2025.
After a three-day slide, the 30-share BSE Sensex on Tuesday (8) jumped 1,089.18 points or 1.49 per cent to settle at 74,227.08, following positive cues from Asian and European markets.
The NSE Nifty surged 374.25 points or 1.69 per cent to 22,535.85, snapping the three-day losing run.
Sensex and Nifty had logged their worst single-day decline in 10 months on Monday (7), as fears that Trump’s policies on reciprocal tariffs may lead to recession and higher inflation in the US going ahead unnerved investors.
