Indian auto component exporters are set to face a competitive disadvantage in the United States market following the imposition of a 25 per cent tariff on Indian goods by US President Donald Trump, says a recent report by rating agency ICRA.
The ongoing Special Intensive Revision (SIR) in Bihar, alleged voter list manipulation in Maharashtra, Operation Sindoor, India-US trade deal and the tariffs threatened by President Trump are likely to be discussed during the meeting.
Ministry of External Affairs spokesperson Randhir Jaiswal said at the regular media briefing that the bilateral partnership with the United States has weathered several transitions and challenges and the two countries share a comprehensive global strategic partnership.
The US administration's 25 per cent blanket tariffs on Indian goods is "unfortunate" but are poised to be short-lived, as both the partner countries are working on a Bilateral Trade Agreement (BTA), Vimal Pruthi, Partner, International Trade, EY India, said on Friday.
United States Treasury Secretary Scott Bessent has blamed India for "slow-rolling things" in the talks for a Free Trade Agreement and said "the whole trade team has been frustrated with them".
The recently signed Free Trade Agreement (FTA) between India and the United Kingdom is expected to help India manage the impact of 25 per cent tariff announced by the United States President Donald Trump, noted Economist Dipanwita Mazumdar.
"This new decision from the Trump government is actually shocking. The Indo-US trade talks are going on. All of a sudden, this was announced by the Trump administration. If you analyse properly, after Trump became the President of the US, India is getting insulted day by day. No President
In a post on Truth Social, Trump stated that the United States and Pakistan are currently in the process of selecting the oil company for the partnership.
Indian equity benchmarks settled marginally higher Wednesday, possibly due to some fresh buying, but analysts are of the view that uncertainty around the India-US trade front will continue to remain key headwinds.
During a gaggle with the press interaction aboard Air Force One on Tuesday (local time), Trump responded to a report suggesting that India might be preparing for 20 to 25 per cent tariffs, stating that India had been imposing higher tariffs on the US as compared to other countries. He fur