Desk:External Affairs Minister S Jaishankar and US Secretary of State Marco Rubio on Monday agreed on the need for early conclusion of the proposed India-US bilateral trade deal.
The issue figured prominently during a phone conversation between Jaishankar and Rubio that came days after US President Donald Trump announced reciprocal tariffs for around 50 countries, including India.
It was the first high-level contact between the two sides after Trump announced the tariffs on April 2.
In a post on X on the phone conversation, Jaishankar said it was agreed on the importance of the early conclusion of the bilateral trade agreement between India and the US.
The external affairs minister (EAM) also said that he and Rubio exchanged perspectives on the Indo-Pacific, the Indian subcontinent, Europe, Middle East and the Caribbean.
“Good to speak with @SecRubio today. Exchanged perspectives on the Indo-Pacific, the Indian subcontinent, Europe, Middle East/West Asia and the Caribbean,” he said.
“Agreed on the importance of the early conclusion of the bilateral trade agreement. Look forward to remaining in touch,” Jaishankar added.
Following talks between Prime Minister Narendra Modi and Trump in Washington DC in February, the two sides announced to negotiate the first tranche of the bilateral trade agreement by fall 2025.
Last month, US Assistant Trade Representative Brendan Lynch visited India and held talks with his Indian interlocutors on firming up the bilateral trade agreement.
In line with his “America First” policy, Trump announced reciprocal tariffs on its partners and other nations that impose higher levies on imports from the US.
Saying New Delhi imposes high import duties on American goods, the US has announced 26 per cent reciprocal tariffs on India as the Trump administration aims to reduce the country’s trade deficit and boost manufacturing.
The 26 per cent duty is over and above the existing duty being faced by Indian goods in the US.