External Affairs Minister S. Jaishankar held a significant phone conversation with US Secretary of State Marco Rubio on Monday to push forward the much-anticipated India-US bilateral trade agreement. This high-level engagement follows US President Donald Trump’s announcement of reciprocal tariffs on imports from around 50 countries, including India. These tariffs are part of the Trump administration’s continued focus on its “America First” policy, aimed at tackling trade deficits and promoting domestic manufacturing. The phone call between Jaishankar and Rubio marked the first official diplomatic dialogue between the two countries since Trump’s latest tariff decision on April 2.
Jaishankar, in a post shared on X (formerly Twitter), provided a summary of their discussion. He mentioned that the two leaders exchanged views on several key geopolitical regions including the Indo-Pacific, the Indian subcontinent, Europe, and the Caribbean. A key takeaway from the conversation was their shared commitment to finalizing the bilateral trade pact at the earliest opportunity. According to the US State Department, the leaders also discussed the new reciprocal tariffs imposed by the US on Indian goods and stressed the need for a balanced and fair trade relationship moving forward.
Negotiations for a trade deal have been ongoing, with both nations showing intent to wrap up the first phase by fall 2025. Prime Minister Narendra Modi’s February visit to Washington DC was a catalyst for advancing talks, and last month, US Assistant Trade Representative Brendan Lynch visited India to continue the discussions. Tensions have grown recently as the US imposed a 26% reciprocal tariff on several Indian products, citing high import duties on American goods by India. With mounting pressure from both sides, officials are expected to accelerate talks to mitigate trade friction and strengthen bilateral economic ties.
