In trade talks with US, India pushes for less than 20 per cent tariff rate: Sources (IANS Exclusive)
India and the United States have agreed to keep pushing forward on trade talks, with New Delhi making a strong case for tariffs under 20% to protect its edge in global markets. Sources say this move helps India compete fairly, especially since other South and Southeast Asian countries already face US tariffs in the 15-20% range.
India is also urging the US to drop an extra 25% tariff on its purchases of Russian oil. Officials point out that this aligns with the Trump administration’s push for European nations to cut back on their own Russian imports—no one should get singled out. External Affairs Minister S. Jaishankar highlighted these issues in a speech at the G20 Foreign Ministers’ meeting during the UN General Assembly. He called out “double standards” in access to energy, food, and fertilizers, blaming ongoing conflicts like those in Ukraine and Gaza for disrupting supplies and pressuring developing nations.
Jaishankar met US Secretary of State Marco Rubio in New York on Monday, where they discussed key bilateral and global topics. Rubio described India as “critical” to the US and praised the ongoing trade interactions. Jaishankar later shared on X (formerly Twitter): “Our conversation covered a range of bilateral and international issues of current concern. Agreed on the importance of sustained engagement to progress on priority areas.”
The Ministry of External Affairs confirmed that Commerce and Industry Minister Piyush Goyal joined Jaishankar, while US Trade Representative Jamieson Greer was on the American side. Spokesperson Randhir Jaiswal said during a briefing in New Delhi: “The focus of the discussion was on trade and tariffs. Other aspects of the bilateral relationship were also discussed.” A Ministry of Commerce statement noted that the Indian team had “constructive meetings” with US officials on the deal’s shape. Both sides swapped ideas and pledged to keep talking toward an early, mutually beneficial trade agreement.
The next day, Rubio hinted that the Trump administration might ease the 25% tariff on India’s Russian oil buys. In an NBC News interview, he said: “We have already seen the measures we have taken with regards to India, although that’s something we hope we can fix.” Rubio also criticized European countries for not doing enough to resolve the Ukraine conflict.
India’s MEA spokesperson echoed the no-double-standards stance on Russian energy imports, noting the US has urged EU, NATO, and G7 nations to halt their Russian oil and gas purchases too. As India-US trade negotiations heat up, these talks could reshape tariffs, energy security, and bilateral ties amid global tensions.
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