India-US trade talks outpace European negotiations, says Jaishankar on Trump tariffs

India has engaged in more trade discussions with the United States in the past six weeks than it has with Europe over the last two years, External Affairs Minister S Jaishankar revealed at the News18’s Rising Bharat Summit 2025.

Speaking at the high-profile event, Jaishankar provided a candid assessment of India’s ongoing trade negotiations, emphasising the remarkable momentum in discussions with the United States following Prime Minister Narendra Modi’s visit to Washington DC in February.

“When I look back at the last period since the PM’s visit, we’ve actually had multiple rounds,” Jaishankar said.

“I think we’ve had more discussion with Americans in the last six weeks than what we have had with Europeans in the last two years,” he said.

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Jaishankar’s comments come at a critical juncture, as the 26 per cent reciprocal tariffs imposed by President Donald Trump’s administration came into effect barely half an hour before the external affairs minister spoke. This follows the baseline 10 per cent tariffs for all countries that were implemented on April 5.

Despite these challenges, Jaishankar expressed optimism about India’s trade strategy, noting that the government decided to engage with the Trump administration early on trade issues. “We are very open and constructive with them as they were with us,” he said, adding that negotiations are underway to reach a bilateral trade agreement by fall this year.

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Jaishankar outlined India’s broader trade ambitions, identifying key regions with natural growth potential. “Where are the natural growth potentials? It’s in the Gulf, Europe, Latin America, US,” he explained. “It’s been our endeavour; we are pressing the Europeans for engagement. We see an opportunity in the current situation with the US.”

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The minister acknowledged that while Europe had previously shown serious interest in a Free Trade Agreement (FTA) with India, progress had typically been slow. “Typically they have taken a much longer period between interacting with each other,” he said.

However, he also pointed to a shift in attitude. “Europe today realises the importance of deeper ties with India and the relevance of the FTA for that purpose. There is a very sort of serious message coming out of Europe that we want to move forward on this,” he said.

India’s trade negotiations with the US gained significant momentum after Prime Minister Modi met President Trump in Washington DC in mid-February. Since then, both sides have engaged in intensive discussions aimed at concluding a bilateral trade agreement.

How tariffs have influenced strategic response

When asked about the potential impact of the US tariffs, Jaishankar was measured in his response. “I don’t think it’s possible to speak about the impact, as we don’t know,” he said.

He emphasised that India’s strategy remains clear and goal-oriented, explaining that the current situation has created circumstances for pursuing objectives that India has long sought. Jaishankar referred to previous negotiations that “could not fructify,” suggesting that the current economic climate might provide fresh impetus for successful trade talks.

This perspective aligns with comments made by Union Minister Hardeep Puri, who speaking at the same event on Tuesday, expressed confidence that India would emerge victorious in the ongoing tariff situation. Puri cited India’s resilience and ability to adapt to challenging circumstances for his confidence in India emerging as winners in the trade war.

Bharat Rising: How to manage it

Jaishankar placed these trade negotiations within the broader context of India’s global emergence. “This is Bharat Rising [referring to the mega event], how do you manage the process of rise in an extremely turbulent situation,” he reflected, citing challenges including the Ukraine conflict, West Asia tensions, and political changes in neighbouring countries, particularly Bangladesh.

The external affairs minister reinforced India’s strategic approach in dealing with fast-changing global trade dynamics when India has to maintain its focus on economic growth and secure favourable trade agreements in a world shaken by Trump tariffs.

India and the US are in the middle of negotiations and have agreed on “the importance of the early conclusion of the Bilateral Trade Agreement,” following Jaishankar’s recent conversation with US Secretary of State Marco Rubio.

As India pushes for bilateral trade deals with the US and Europe, Jaishankar’s remarks suggest a pragmatic approach by the Narendra Modi government to international relations, looking for opportunities amid global economic uncertainty.