Trump-Modi talks key to trade deal: Former Asst USTR

A reset in India-US trade talks may be needed, potentially through a conversation between President Trump and Prime Minister Modi, according to Mark Linscott. Despite new tariffs and criticisms from Trump, Linscott sees the situation as a “hiccup,” emphasizing the US desire for a short-term agreement followed by a longer-term bilateral trade deal.

US Secretary of State Marco Rubio expressed Washington’s frustration over India’s continued purchase of Russian oil, stating it supports Moscow’s war efforts in Ukraine and strains the US-India relationship. Despite India’s energy needs and the discounted price of Russian oil due to sanctions, Rubio highlighted that this trade helps fund the ongoing conflict.

Atul Keshap, President of the US-India Business Council, addressed the US tariff imposition on India, highlighting the nervousness among American and Indian companies due to the uncertainty. He stressed the importance of a mutually beneficial deal to foster economic growth and achieve the $500 billion trade target.

President Trump announced a 25% tariff on India, effective August 7th, citing trade imbalances and India’s ties with Russia, including military equipment and energy purchases. This action is part of a broader move imposing tariffs on nearly 70 nations, with rates varying from 10% to 40%. Trump also criticized India’s membership in BRICS, viewing it […]

Donald Trump criticized India’s economy and tariffs. He also questioned India’s ties with Russia. This happened before trade talks between the US and India. India responded by saying it would protect its interests. Piyush Goyal said the government is examining the implications of the latest tariffs. India is consulting with stakeholders. The government ruled out […]

The WTO reported a slowdown in global services trade growth to 5% in the first quarter of 2025, attributed to economic uncertainties and a strong US dollar. Asian economies, including China, India, and Japan, bucked the trend with double-digit export growth.