India-US Trade Talks: Tariff Discussions Underway, MEA Sets Deal Deadline By End Of This Year

New Delhi: Amid global concerns over Trump's tariffs, India and the United States are engaged in trade negotiations, with both sides working toward a potential agreement by the fall of this year, the Ministry of External Affairs (MEA) said on Tuesday.

“We are studying the implications on tariffs carefully,” it said, adding that “India values its strategic partnership with the United States.”

Jaishankar and US Secretary Discuss Trade Talks Amid New Tariffs

This comes as External Affairs Minister S. Jaishankar and US Secretary of State Marco Rubio held a high-level call on Monday to review progress in the ongoing India-US Bilateral Trade Agreement (BTA) negotiations.

Tariffs Spark Global Market Jitters

The new US tariff structure includes a 10% base duty, effective from April 5, with an additional 16%. 

A statement from the US State Department confirmed that the two sides discussed Washington’s “reciprocal tariffs on India” and reiterated the goal of building a “fair and balanced trade relationship.”

Following the call, EAM Jaishankar posted on X (formerly Twitter):  

“Good to speak with US Secretary of State Rubio today. Agreed on the importance of the early conclusion of the Bilateral Trade Agreement. Look forward to remaining in touch.”

The latest round of BTA talks was held in New Delhi from March 26 to 29, during which both nations' trade officials reportedly aligned on several key issues for future negotiations.