PM Modi, Jaishankar, and Goyal Discuss US Tariffs in Key 30-Minute Meeting

New Delhi: Prime Minister Narendra Modi held a crucial 30-minute meeting with External Affairs Minister S. Jaishankar and Union Minister Piyush Goyal to address the ongoing trade tensions with the United States. The meeting, which took place in the Prime Minister’s chamber in Parliament, focused on India’s strategy to navigate the challenges posed by US President Donald Trump’s new tariff regime, set to take effect on April 2, 2025.

The discussion comes ahead of the visit by a delegation of US trade representatives, led by Brendan Lynch, responsible for South and Central Asia. The delegation is scheduled to engage with Indian officials from March 25 to 29 to advance bilateral trade negotiations. President Trump has previously expressed concerns over India’s tariff structure, despite describing his relationship with New Delhi as “very good.”

India is actively working to finalize a Bilateral Trade Agreement (BTA) with the US, aiming to expand trade, enhance market access, and reduce tariff and non-tariff barriers. Ministry of External Affairs spokesperson Randhir Jaiswal emphasized that both nations are engaged at “various levels” to achieve a mutually beneficial agreement. However, he refrained from commenting on whether India expects any concessions from the US.

The tariff dispute has raised fears of a global trade war, with several countries already announcing countermeasures. India, for its part, has taken steps to lower tariffs in specific sectors, including bourbon whiskey, wine, and electric vehicles, as outlined in the Union Budget for 2025-26. These measures are seen as an effort to signal New Delhi’s willingness to address trade imbalances.

During his recent visit to Washington, PM Modi and US officials agreed to negotiate the first tranche of the BTA by the fall of 2025. As the two sides continue their dialogue, the outcome of these discussions will be critical in shaping the future of India-US trade relations.