'Solution will be found soon regarding the trade agreement'; Shringla's important statement amid Trump's tariffs
India-US Trade Deal: India faces an immediate challenge due to the increase in US tariffs. However, India believes that it can overcome this situation with its access to alternative markets. Apart from this, it is also believed that a trade agreement will be reached between the two countries soon. Due to which these difficulties will be solved.
India and the United States have had tense relations over tariffs for some time. In fact, the U.S. has decided to impose a 50% customs duty on Indian exports, with 25% already in effect since August 7 and the remaining 25% starting tonight. Since Trump's announcement, relations between the two countries have cooled. Despite this, India remains optimistic that these issues will soon be resolved. Former Indian Foreign Secretary and Rajya Sabha MP Harsh Vardhan Shringla made significant comments about the two countries amid the implementation of Trump’s tariffs. Speaking at an event in Virginia, he said that this situation is temporary and that both nations will soon move forward with a trade agreement, potentially a free trade deal. He acknowledged that the 50% tariff is a concern but emphasized it will not weaken the foundational relationship.
In Reston, Virginia, Shringla stated that from midnight onward, a 50% customs duty will be levied on goods exported from India to the U.S. He mentioned that efforts are underway to minimize its impact and that India is preparing alternatives. As part of these efforts, India has signed free trade agreements with Australia, the UAE, and Britain, with negotiations almost complete with the European Union. This paves the way for Indian exports to these markets.
Shringla also commented on India-U.S. relations, highlighting their depth beyond trade. He said their relationship is one of the most comprehensive and multifaceted, stronger than with any other country. He attributed the strength to shared values and principles that can withstand ups and downs. He welcomed the appointment of Sergio Gor as the next U.S. Ambassador to India, calling it a positive step that will bring energy to bilateral ties.
He further noted that there is a very close and special partnership between President Donald Trump and Prime Minister Modi, evident in numerous meetings—many of which he has attended himself. This connection has been there since President Trump’s first term, marked by events like Howdy Modi and Namaste Trump.
Shringla said that work is ongoing on a balanced, mutually beneficial free trade agreement between India and the U.S. and expressed hope that they will achieve a satisfactory deal soon. He also looked forward to Trump's visit to India once tensions subside.
