EAM Jaishankar issues BIG statement on India-US trade deal amid Trump's tariffs: 'Our red lines...'

External Affairs Minister (EAM) S Jaishankar on Sunday expressed the need to have a trade understanding with the United States, adding that not only because it's the world's largest market but also because much of the world already has such arrangements. In a panel discussion at the Kautliya Economic Forum in capital New Delhi, Jaishankar stated that India and the US had yet to "reach a landing ground" in ongoing trade talks. He also addressed the volatile global environment, describing the coming years as a test of resilience for all nations.

What did Jaishankar say on India-US ties?

Jaishankar said at the forum: "Today, we have issues with the United States...that we haven't yet arrived at a landing ground in our trade discussions. In addition there is a certain tariffs being levied on us, which we have publicly said are unfair." He added: "In addition there is a second tariff...which has picked on us, for sourcing energy from Russia. And of course there are other countries who have done so including countries who right now have a far more antagonistic relationship with Russia then we do. I'm not minimizing the issues. But I don't think we should take it to a point as though this is going to percolate to every dimension of the relationship.

'Our red lines need to be respected'

The EAM further said: "There are problems, there are issues, nobody is in denial of it. Those issues need to be negotiated and discussed and resolved, which is exactly what we are trying to do. But I would really sort of hesitate to read very much more into it." He added: "I deal in a world of realities, and my reality right now is at 25 per cent and 25 per cent of a 50 per cent tariff, and that is what right now we are negotiating. So, whatever happens at the end of the day there has got to be a trade understanding with the United States. There has to be one because it is the world's largest market but also because much of the world has reached those understandings. But it has to be an understanding where our bottom lines, our red lines are respected."

How have India-US trade relations been?

Terming the trade relations "one-sided," US President Donald Trump had slapped 50 per cent tariffs on India citing the country's crude oil import from Russia, which he said is fueling the war in Ukraine. The new reciprocal tariffs came into effect from August 27. Stressing the need to have a common consensus, Jaishankar said: "In any agreement, you know, there are things you can negotiate and there are things you can't. And I think we are pretty clear about that and we have to find that landing ground. And that's been the conversation really which has been going on since March." Last month, Commerce and Industry Minister Piyush Goyal concluded a high-level trade visit, which his ministry described as "positive."

(With inputs from news agency ANI).