"And because India does apply tariff lines to a number of American exports to India, if you strictly understand what reciprocal means, it would mean that our exports to America will also be affected. So I'm hoping that in the talks they'll find some sensible outcome" he said
US Trade Representative for South and Central Asia Brendan Lynch, will pay a visit to India from March 25-29 along with a delegation of US government officials, US embassy spokesperson said.
In a weekly media briefing, MEA spokesperson Randhir Jaiswal said that the two governments are actively working to build a framework for the Bilateral Trade Agreement (BTA), which will be a multisector agreement beneficial to both nations.
As global markets react to uncertainty surrounding tariffs and economic policies under the Trump administration, India's financial system is feeling indirect effects, particularly through currency fluctuations and liquidity conditions.
The Trump administration is preparing to impose sweeping new tariffs on imports worth trillions, with an April 2 deadline dubbed "Liberation Day." The move, aimed at forcing companies to manufacture in the US, has sparked economic concerns and market volatility.
Commerce Minister Piyush Goyal had a "forward looking" discussion with US Trade Representative Jamieson Greer on a mutually beneficial bilateral trade agreement.
US Commerce Secretary Howard Lutnick on Friday expressed optimism about India-US trade ties, emphasizing the need for India's agricultural trade to open up amid US President Donald Trump's plans to impose reciprocal tariffs on US trading partners, including India.
In the letter, the US lawmakers urged the three officials to conduct investigations and implement appropriate enforcement measures against companies that evade US trade laws by unlawfully routing products through third countries.
On the outset of trade wars with the United States, Beijing pledges to make domestic demand its main economic driver. The escalating trade war with the US is hitting Chinese exports, especially with the reciprocal tariffs that Trump has announced.
Ajay Sahai, Director General and CEO of Federation of Indian Export Organisations (FIEO), said he sees US President Donald Trump's recurring statement against India- as a 'tariff king'- to be a negotiating posture.
Trump said, "Please explain to Governor Trudeau, of Canada, that when he puts on a Retaliatory Tariff on the U.S., our Reciprocal Tariff will immediately increase by a like amount!"