India-US Trade Talks Surpass European Negotiations, Says Jaishankar on Trump-Era Tariffs

India has held more trade talks with the United States in the past six weeks than it has with Europe in the last two years, External Affairs Minister S. Jaishankar disclosed at the News18 Rising Bharat Summit 2025.

India's EAM S Jaishankar at News18's Rising Bharat Summit.

During the prestigious event, Jaishankar offered a frank evaluation of India’s current trade negotiations, highlighting the significant progress made with the United States since Prime Minister Narendra Modi’s visit to Washington, D.C., in February.

“When I look back at the last period since the PM’s visit, we’ve actually had multiple rounds,” Jaishankar said.

“I think we’ve had more discussion with Americans in the last six weeks than what we have had with Europeans in the last two years,” he said.

Jaishankar’s remarks come at a pivotal moment, as the 26 per cent reciprocal tariffs imposed by President Donald Trump’s administration took effect just thirty minutes before the external affairs minister began speaking. These new tariffs follow the baseline 10 percent duties applied to all countries starting April 5.

Despite these challenges, Jaishankar remained optimistic about India’s trade strategy, highlighting that the government took the initiative to engage with the Trump administration on trade matters from the outset. “We are very open and constructive with them as they were with us,” he added that negotiations are currently in progress to finalize a bilateral trade agreement by this fall.

What is India's strategy for global trade?

Jaishankar highlighted India's broader trade goals, pinpointing key regions with inherent growth potential. “Where are the natural growth potentials? It’s in the Gulf, Europe, Latin America, US,” he explained. “It’s been our endeavour; we are pressing the Europeans for engagement. We see an opportunity in the current situation with the US.”

The minister noted that although Europe had previously expressed strong interest in a Free Trade Agreement (FTA) with India, progress had generally been slow. “Typically they have taken a much longer period between interacting with each other,” he said.

However, he also highlighted a change in mindset. “Europe today realises the importance of deeper ties with India and the relevance of the FTA for that purpose. There is a very sort of serious message coming out of Europe that we want to move forward on this,” he said.

India's trade talks with the United States picked up considerable pace following Prime Minister Modi's meeting with President Trump in Washington DC in mid-February. Since that meeting, both countries have been actively involved in focused discussions to finalize a bilateral trade deal.

How tariffs have impacted strategic responses

When questioned about the potential effects of the US tariffs, Jaishankar responded cautiously. “I don’t think it’s possible to speak about the impact, as we don’t know,” he said.

He highlighted that India's strategy is clear and focused on achieving its goals, noting that the present situation offers new opportunities to pursue objectives India has long sought. Jaishankar referenced past negotiations that “did not bear fruit,” suggesting that the current economic climate could give fresh momentum to successful trade talks.

This view is in line with remarks made by Union Minister Hardeep Puri, who, speaking at the same event on Tuesday, expressed confidence in India's success in the ongoing tariff dispute. Puri pointed to India's resilience and adaptability in the face of challenges as key reasons for his belief that India would emerge victorious in the trade conflict.

Bharat Rising: Strategies for Effective Management

Jaishankar framed these trade negotiations within the larger context of India's growing global influence. “This is Bharat Rising [referring to the mega event], how do you manage the process of rise in an extremely turbulent situation,” he reflected on the challenges, highlighting issues such as the Ukraine conflict, tensions in West Asia, and political shifts in neighboring countries, especially Bangladesh.

The External Affairs Minister emphasized India's strategic stance in navigating the rapidly evolving global trade landscape, stressing the need for India to focus on economic growth while securing favorable trade agreements in a world impacted by Trump tariffs.

India and the US are currently engaged in negotiations and have acknowledged “the importance of the early conclusion of the Bilateral Trade Agreement,” following Jaishankar's recent discussion with US Secretary of State Marco Rubio.

As India seeks to strengthen bilateral trade ties with both the US and Europe, Jaishankar's comments indicate a pragmatic approach by the Narendra Modi government to international relations, seeking opportunities in the face of global economic uncertainty.

(This Article was originally published by First Post)