In another post, Graham also said that US tariffs on India are "going to dividends" and now is the time for Trump to impose the same tariffs on China and Russia as well.
Speaking during a panel discussion at the Public Affairs Forum of India (PAFI)'s 12th Annual Forum, Reddy stated that the tariffs would not impact India, but would have a reverse effect.
New Jersey Governor Phil Murphy remained optimistic that India-US will find a common ground over the 50 per cent imposed on New Delhi by Washington, including an additional penalty of 25 per cent for purchasing discounted crude oil from Russia.
Amid recent strains in India-US relations, New Jersey Governor Philip D Murphy on Friday expressed strong optimism about the future of the bilateral partnership, asserting that improvements are expected "sooner rather than later."
Chief Economic Adviser (CEA) V Anantha Nageswaran on Thursday expressed optimism that the penal tariff imposed on certain imports will likely be withdrawn after November 30, signalling a potential easing of trade restrictions amid ongoing economic discussions.
India's growth story is facing global turbulence, but domestic strengths and a cautious yet evolving trade strategy are expected to cushion the impact, according to economists and analysts.
India's exports to the United States fell for the third straight month in August, as steep tariff hikes by Washington continued to weigh on trade, according to a report by the Global Trade Research Initiative (GTRI).
Indian stock markets fared well even as the country faced US tariffs on its goods, primarily due to the strong domestic fundamentals that include robust consumption and recent GST reforms, according to a Bank of Baroda report.
India's current account deficit (CAD) is expected to remain under control at 1 per cent of gross domestic product (GDP) in the current financial year, even as the economy faces challenges from higher tariffs and global geopolitical headwinds, according to a report by Crisil.
Prime Minister Narendra Modi on Tuesday thanked US President Donald Trump for his phone call and greetings on his 75th birthday and said he, like the US leader, is fully committed to taking the India-US Comprehensive and Global Partnership to new heights.
US President Donald Trump on Tuesday claimed that a victory in the ongoing US Supreme Court case over his sweeping global tariffs would position America as "by far the richest country anywhere in the world", granting "tremendous" negotiating power to Washington.