'Eam Jaishankar is working on us to seal trade,' the Trump tariffs in - 'India are the only country ...' | Today news

Foreign Minister Jaishankar said on Wednesday that it was “not possible” to expect the impact of US President Donald Trump’s reciprocal rates on India. However, the minister said that the strategy of New -Delhi to handle the situation is to practice a bilateral trade treaty with Washington by the fall of this year. In the first detailed response to US tariff policy, Jaishankar said India is perhaps the only country that reaches an understanding with Washington to seal a trade transaction after Trump accepted the presidency for the second time. “I don’t think it’s possible to talk about what the impact would be because we don’t know. What’s our strategy? I think it’s pretty clear,” Jaishankar said at the Rising Bharat summit in News18. Trump’s reciprocal rates kick in the comments of Jaishankar come into force hours after Trump’s fast rates came into effect against about five countries, including India, which caused trade interruptions and fear of a global economic recession. “We decided that we would involve the Trump administration early on this set of issues, and we were very open with them, very constructive with them as they were with us, and what we agreed to do was to negotiate a bilateral trade agreement this year,” Jaishanjar told Zakka Jacob at the summit. President Trump’s 26 percent rates on imports from India took full operation on Wednesday morning. Trump announced the reciprocal rates on April 3 in the Rose Garden of the White House as part of his ‘Liberation Day’ announcement event. India is one of the countries that used a cautious approach to respond to potentially seismic action, saying it is involved with the Trump administration on the Bilateral Trade Agreement (BTA). After talks between Prime Minister Narendra Modi and Trump in Washington DC in February, the two parties announced to negotiate the first country of the BTA by the fall of 2025. “I think we are the only country after President Trump adopted the president for the second time, who actually achieved such an understanding in the principle,” Jaishankar said. Jaishankar said every country in the world today is forming its own strategy to deal with the United States and that India’s goal is to reach a trade agreement with the Trump administration. “In our case, our strategy has a purpose. And the goal is to see if it is possible to deal with this situation by entering into a bilateral trade agreement. And I must add that it was our purpose in an interesting way,” he said. Jaishankar said the ‘current situation’ may have created the circumstances for such a serious discussion about the trade agreement. “Negotiated trading transaction in Trump’s first term” “but if you look at the first term of President Trump, we actually negotiate a trade agreement that could not fructify, and if one even looked at the administration of Biden, we discussed trading opportunities, and we ended the IPEF initiative,” he said. In accordance with Washington’s long-term vision for the Indo Pacific, in May 2022, US President Joe Biden launched the ambitious Indo-Pacific Economic Framework for Prosperity (IPEF). “They (the Biden Administration) were very ominous to do a bilateral agreement. From the Indian perspective, it is actually a kind of some kind of some kind of some kind of some kind of kind of some kind, an unbutton.”