Minister Jaishankar, US Secretary of State Rubio discuss tariffs, trade ties
This story was originally published at 09:23 IST on 8 April 2025
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NEW DELHI - External Affairs Minister S. Jaishankar and US Secretary of State Marco Rubio on Monday held discussions on the 26% reciprocal tariffs imposed by US President Donald Trump on India. The two leaders also discussed the progress made in establishing a fair and balanced trade relationship between the countries, Spokesperson for the US Department of State Tammy Bruce said.
"The two leaders discussed US reciprocal tariffs on India and how to make progress toward a fair and balanced trade relationship," Bruce said.
Rubio and Jaishankar also affirmed the strength of the Indo-US strategic partnership and discussed opportunities to deepen collaboration in the Indo-Pacific region.
Trump on Thursday announced 26% duties on goods imported from India, effective Wednesday. He also imposed tariffs on other countries, including China (32%), European Union (20%), Vietnam (46%), Japan (24%), UK (10%), Indonesia (32%), and Taiwan (32%), among others. While China responded with retaliatory tariffs of 34% on US goods, India refrained from announcing counter tariffs on US goods.
During Prime Minister Narendra Modi's US visit in February, the two countries had agreed to negotiate a multi-sectoral Bilateral Trade Agreement. The proposed Bilateral Trade Agreement with the US has made significant progress. Last month, officials from both sides also visited each other's nations to discuss the agreement.
India has attempted to woo Trump by reducing import duties on Harley-Davidson motorcycles as well as bourbon whiskey. Additionally, it has eliminated a tax on digital services, commonly referred to as Google Tax, which impacted US technology companies.
Previously, Trump has expressed his displeasure over India's high tariffs at multiple instances since October, when he was campaigning for the US election.
The US is India's top export market with a share of 17% in total outbound shipments. In 2023-24 (Apr-Mar), India exported goods worth $77.52 billion to the US and had a trade surplus of $35.32 billion. End
US$1 = INR 85.83
Reported by Kuldeep Singh
Edited by Tanima Banerjee
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