Following Washington's 50 per cent tariffs on Indian goods coming into effect earlier on Wednesday, US Treasury Secretary Scott Bessent expressed optimism about resolving trade tensions with India, stating, "at the end of the day, we (India and the US) will come together."
South Korean Foreign Minister Cho Hyun has said the tariffs being imposed by the United States in the rapidly changing situation in global trade is not unexpected and that his country was able to sort out "the problem" and "make a win-win" through trade negotiations.
"US Trade team not coming to India for the next round of trade negotiations. The US team was scheduled to visit India on 25th August for the 6th round of negotiations," government sources told ANI.
South Korean Foreign Minister Cho Hyun has said the tariffs being imposed by the United States in the rapidly changing situation in global trade is not unexpected and that his country was able to sort out "the problem" and "make a win-win" through trade negotiations.
US Treasury Secretary Scott Bessent on Tuesday (local time) stated that India has been headstrong in their trade negotiations with the US, noting that New Delhi has been "a bit recalcitrant", days after US President Donald Trump announced an additional 25 per cent tariff, citing the count
The panel will be briefed by the representatives of the Ministry of External Affairs and the Ministry of Commerce & Industry on the current developments in India's Foreign Policy with special reference to US-India trade negotiations and tariffs, they said.
"I think he (Trump) is continuing on this irrational path. This is driven by a certain kind of personal antagonism, more than any reasonable negotiation, discussion or policy," Trigunayat told ANI.
Congress MP Karti Chidambaram said on Wednesday that India should not take US President Donald Trump seriously when he makes impulsive statements on tariffs. Instead, the country should engage in sober and calm trade negotiations with the US, he added.
The Reserve Bank of India (RBI) is likely to keep the terminal rate at 5.5 per cent for some time in the near-term, asserted Bank of Baroda Economist Jahnavi Prabhakar, citing the central bank's guidance that future actions will be data dependent and on basis of ongoing development on extern
Despite the uncertain global trade environment due to ongoing tariff announcements and trade negotiations, the Reserve Bank of India (RBI) has kept the GDP growth projection for the current financial year 2025-26 unchanged at 6.5 per cent.
US President Donald Trump on Tuesday denied seeking a summit with Chinese President Xi Jinping, amidst ongoing trade negotiations between the two countries.