Washington/New Delhi: After imposing a staggering 50% duty on Indian goods, US President Donald Trump has also ruled out any trade talks between the two countries until the tariff issue is resolved.
“No, not until we get it resolved,” Trump said in the Oval Office in response to a question on whether he expects more trade negotiations with India after doubling the tariffs on Indian imports to 50%.
A prominent American Congressman Representative Gregory Meeks, a Democrat, meanwhile, said Trump’s latest ‘tariff tantrum’ risks years of careful work to build a stronger US-India partnership.
Over the last few months, India and the US have held several rounds of negotiations for a bilateral trade deal, but it could not be sealed in view of sharp divergences in certain critical areas, including agriculture and dairy. The next round of bilateral talks for an initial trade agreement was scheduled to be held on August 25 in New Delhi, two days before the 25% penalty on
India kicks in.
As India explored various options to deal with Trump’s action, Commerce and Industry Minister Piyush Goyal said the world today recognises the strengths of India and its demographic advantages.
“1.4 billion people bring aggregate demand, huge domestic market …Why else do you think everybody is vying up to do trade or have a better market access,” he told the Business Today India@100 event in Delhi on Friday.
Speaking at the same event, former G20 Sherpa Amitabh Kant said India should never lose its strategic autonomy and never yield to pressure while negotiating trade deals with the US, suggesting at the same time that the country should look at a long term perspective and behave in a calm and collected manner.
India should use trade-related uncertainties as a unique opportunity to carry out very vigorous reforms in our economy, he said. “We still have 20 days for these (US) tariffs to kick in. We should never yield to pressure, but we should negotiate in a very rational manner, in a sensible manner, and I think there is plenty of time to be able to arrive at an agreement.”
PM, Putin converse over phone
New Delhi: Prime Minister Narendra Modi on Friday spoke to Russian President Vladimir Putin over phone during which the two leaders reaffirmed their commitment to further deepen the Special and Privileged Strategic Partnership between India and Russia.
Putin briefed Modi on his country’s ongoing conflict with Ukraine, with the Prime Minister reiterating India’s consistent position for its peaceful resolution.
The conversation between the two leaders came amid US President Donald Trump ratcheting up pressure on India over its purchase of Russian oil.
In a post on X, Modi said, “Had a very good and detailed conversation with my friend President Putin. I thanked him for sharing the latest developments on Ukraine.”
“We also reviewed the progress in our bilateral agenda, and reaffirmed our commitment to further deepen the India-Russia Special and Privileged Strategic Partnership. I look forward to hosting President Putin in India later this year,” Modi said.
It will be the 23rd India-Russia Annual Summit.
The two leaders reviewed progress in the bilateral agenda, and reaffirmed their commitment to further deepen the Special and Privileged Strategic Partnership.
Prime Minister Modi invited President Putin to India later this year for the 23rd India-Russia Annual Summit, the MEA said.
According to sources, National Security Advisor (NSA) Ajit Doval has said during his meetings in Moscow that dates for Putin’s visit to India are being worked out.
In Russia, Doval held talks with Russian Security Council Secretary Sergey Shoigu and other senior officials, which focused on bilateral energy and defence cooperation as well as Putin’s visit to India.
Prime Minister Modi had travelled to Russia twice last year for an annual summit with Putin and to attend the BRICS Summit in Kazan.
Modi on Thursday also received a phone call from Brazilian President Luiz Inacio Lula da Silva, whose country has also been at the receiving end of Trump’s tariffs.
The two leaders agreed to enhance cooperation in trade, technology, energy, defence, agriculture, health and people-to-people ties.
