India and US aim for 'early conclusion' of trade pact
On Monday, India and the United States reaffirmed their commitment to the "early conclusion" of a bilateral trade agreement, amid ongoing global trade tensions following the US's recent tariff announcements.
Talks between the two countries have gained momentum in recent weeks, particularly after US President Donald Trump announced a reciprocal tariff of 26 percent on goods imported from India, News.Az reports citing foreign media.
This move is part of a broader tariff framework covering nearly all of the United States’ trading partners.
“Exchanged perspectives on the Indo-Pacific, the Indian Subcontinent, Europe, Middle East/West Asia and the Caribbean,” External Affairs Minister S. Jaishankar said in a post on X following a phone call with US Secretary of State Marco Rubio.
“Agreed on the importance of the early conclusion of the Bilateral Trade Agreement,” Jaishankar added, noting that both sides would remain in close contact.
This phone call marks the first publicly known interaction between cabinet officials of the two countries since Trump’s announcement last Wednesday.
A readout of the call from the US side is awaited.
India has so far refrained from announcing retaliatory tariffs, in contrast to China, which imposed a 34 percent duty on American goods on Friday in response to the US move. Most other US trading partners, including Vietnam and Japan, have opted for dialogue over retaliation. Vietnam, for instance, has offered to reduce its tariffs to zero in an effort to maintain trade relations.
On Monday, President Trump posted on Truth Social, his social media platform:
“Countries from all over the world are talking to us. Tough but fair parameters are being set. Spoke to the Japanese Prime Minister this morning. He is sending a top team to negotiate! They have treated the US very poorly on trade. They don’t take our cars, but we take millions of theirs. Likewise agriculture, and many other things. It all has to change, but especially with China!!!”
Later in the day, Israeli Prime Minister Benjamin Netanyahu is expected to meet Trump. The meeting is being described as the first in-person engagement between a foreign leader and the US President focused on the newly imposed tariffs. Israel has been hit with a 17 percent tariff, despite its close military ties with the US.
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