India-US Have Not Arrived at a Landing Ground for Trade Discussions: Jaishankar
The Wire Staff
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New Delhi: External Affairs Minister, S. Jaishankar, emphasised that India and the US have not arrived at a "landing ground" for trade discussions, a process that has been ongoing since March. He noted that any trade deal between the two countries must respect New Delhi's "red lines".
"We have today issues with the United States. A big part of it is the fact that we have not arrived at a landing ground for our trade discussions, and the inability so far to reach there has led to a certain tariff being levied on India," the minister said.
Speaking at the Kautilya Economic Enclave's "Shaping Foreign Policy in Turbulent Times" session on Sunday (October 5), Jaishankar acknowledged the challenges in the bilateral trade discussions. He highlighted that the inability to reach a mutually beneficial agreement has resulted in tariffs being imposed on India.
The minister specifically pointed out two tariffs imposed by the US, one of which targets India's purchase of Russian crude oil. Jaishankar deemed this tariff "very unfair" since other countries with more strained relationships with Russia are also buying its energy without facing similar penalties.
"In addition, there is a second tariff which we have publicly said we regard as very unfair, which has picked on us for sourcing energy from Russia when there are other countries that have done so, including countries that right now have a far more antagonistic relationship with Russia than we do," he added.
Despite the current strain in relations, largely due to the US doubling tariffs on Indian goods to 50%, including a 25% additional duty on purchases of Russian crude oil, Jaishankar emphasised the need for a trade understanding with the US, given its status as the world's largest market.
India has described the US tariffs as "unfair, unjustified, and unreasonable". Jaishankar reiterated that while negotiations are underway to resolve these issues, India's core priorities and "red lines" must be respected in any agreement. He also noted that despite the tensions, many aspects of the India-US relationship continue uninterrupted or are even growing stronger.
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