By Kanishka Singh WASHINGTON (Reuters) – U.S. Secretary of State Marco Rubio and Indian Foreign Minister Subrahmanyam Jaishankar held a call on Monday to discuss U.S. tariffs on India and how to make progress towards a “fair and balanced trade relationship,” the State Department said. Jaishankar also said on social media earlier on Monday that […]
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US and India discuss tariffs and progress towards ‘fair’ trade
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By Kanishka Singh
WASHINGTON (Reuters) – U.S. Secretary of State Marco Rubio and Indian Foreign Minister Subrahmanyam Jaishankar held a call on Monday to discuss U.S. tariffs on India and how to make progress towards a “fair and balanced trade relationship,” the State Department said.
Jaishankar also said on social media earlier on Monday that he had spoken to Rubio about the early conclusion of a bilateral trade deal.
WHY IT’S IMPORTANT
Trump said last week that he would impose a 10% baseline tariff on all imports to the U.S. and higher duties on dozens of other countries, including some of Washington’s biggest trading partners, rattling global markets and bewildering U.S. allies.
CONTEXT
India does not plan to retaliate against Trump’s 26% tariff on imports from the Asian nation, an Indian government official said on Sunday, citing ongoing talks for a deal between the countries.
KEY QUOTES
“They also discussed U.S. reciprocal tariffs on India and how to make progress toward a fair and balanced trade relationship,” the State Department said in a statement.
“Agreed on the importance of the early conclusion of the Bilateral Trade Agreement. Look forward to remaining in touch,” Jaishankar said in his social media post.
(Reporting by Kanishka Singh in Washington; editing by Edward Tobin)