Amid renewed tariff tensions under US President Donald Trump’s administration, External Affairs Minister (EAM) S. Jaishankar confirmed on Wednesday that India is actively pursuing a bilateral trade agreement with the United States, aiming for a possible conclusion by the fall of this year.
Speaking at the News18 Rising Bharat Summit, Jaishankar responded to questions about the potential impact of US tariffs on India, saying that while the exact consequences were uncertain, India’s strategy was clear and forward-looking.
“I don’t think it is possible to speak about the impact because we don’t know,” Jaishankar remarked. “But our approach has been to engage constructively with the US on this.”
He revealed that India and the US have reached an understanding in principle to work towards a trade agreement—making India potentially the only country to do so since President Trump began his second term.
“To the best of my knowledge—and I stand to be corrected—we are the only country since President Trump’s return to office that has reached such an understanding,” Jaishankar noted.
The EAM emphasized that India’s interest in a bilateral trade agreement predates the current situation, stating that the recent tariff tensions have only catalyzed ongoing efforts.
“This isn’t a reactionary move. We have long aimed for a bilateral trade deal with the US,” he said. “Now, perhaps, the environment is more conducive to making it happen.”
He highlighted how recent diplomatic efforts, particularly following Prime Minister Narendra Modi’s visit to the US, have significantly accelerated trade discussions.
“We’ve had more trade conversations with the Americans in the last six weeks than with the Europeans in the last two years,” Jaishankar pointed out.
His comments came in response to President Trump’s recent statements at the National Republican Congressional Committee, where the US President boasted about foreign countries “begging” for deals in light of his tough tariff policies.
“These countries are calling us up, kissing my a**. They are dying to make a deal,” Trump said, emphasizing his aggressive trade stance, especially towards countries like China.
While Trump highlighted tariffs as a tool of negotiation, Jaishankar presented India’s engagement with the US as a proactive and principled approach aimed at achieving mutual economic benefit.
As global trade dynamics continue to shift, India’s focus remains on crafting a sustainable, strategic, and mutually beneficial trade relationship with the United States.
