US Stance on India's Trade Position
US Treasury Secretary Scott Bessent indicated that India is not shifting its position in the ongoing trade talks. He described this as one of the reasons for the slow pace of the negotiations. He noted that the US is in the process of negotiating big trade deals with Switzerland, India, and several other nations. He further stated that the aim is to reach an end to these negotiations by the end of October. In his view, the Trump administration is trying to fine-tune its strategy according to this deadline.
Tariff War Between US and India
US President Donald Trump had threatened India for purchasing oil from Russia. India did not desist from the purchase, even after the warning. That's why the US imposed tariffs heavily. Tariffs were initially 25%, then increased to 50%. The extra 25% will become operational on the 27th of this month.
India's Reaction to US Tariffs
Indian Prime Minister Narendra Modi announced that safeguarding farmers, fishermen, and workers in the dairy industry is a priority. He said he is prepared to bear the economic cost if necessary. In spite of the tensions created by the tariffs, US State Department spokesperson Tommy Pigott verified that the US will proceed with full-scale trade negotiations with New Delhi.
Potential Meeting Between Modi and Trump
India is attempting to seal a trade agreement with America before imposing the higher tariffs. Sources suggest Prime Minister Modi will head to the US in the near future for United Nations General Assembly (UNGA) sessions. On the tour, he is likely to sit down with President Trump to talk about trade.
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