Hey folks! India’s top diplomat Subrahmanyam Jaishankar says the India-U.S. trade talks are still on, even as Washington gears up to slap fresh tariffs on Indian goods. Here’s the lowdown 🤓👇
What’s happening? The U.S. has already hit some Indian imports with a 25% tariff. Now, another 25% bite (total 50%) is set to kick in on August 27. These levies target India’s increased buys of Russian oil, making it one of the steepest U.S. duties around.
Talks on hold? A round of in-person meetings in New Delhi (Aug 25-29) was canceled last minute. Many hoped this visit could ease or delay the new levies. Meanwhile, President Trump tapped his 38-year-old aide Sergio Gor as the next U.S. envoy to India and South/Central Asia 🤝.
Why the standoff? Earlier this year, trade talks stumbled over India’s stance on opening its huge agriculture and dairy sectors. Remember? Bilateral trade between India and the U.S. already tops $190 billion a year!
So, what’s next? If the full 50% tariffs stick, Capital Economics warns India’s growth could slow by about 0.8 percentage points for the next two years 📉. Jaishankar calls Trump’s hi-public style ‘unusual’ and notes that oil purchases weren’t flagged before the tariff bombshell 💥.
TL;DR: India is pushing back, trade talks are on but tense, and Indian exports might take a hit soon. Stay tuned as this plays out on the global economic stage 🌏✨
Reference(s):
India says U.S. trade negotiations still ongoing as fresh tariffs loom
cgtn.com
