India Keeping A Close Eye On Trade Talks With The US, Says FM Sitharaman

The trade discussions are taking place amid US President Donald Trump’s push for reciprocal tariffs, a policy designed to match import duties imposed by trading partners on American goods

Union Finance Minister Nirmala Sitharaman

Source : PTI

Union Finance Minister Nirmala Sitharaman said on Thursday that the government is closely monitoring ongoing trade negotiations with the United States, amid concerns over potential reciprocal tariffs under President Donald Trump’s administration.

"We will have to see how the Commerce Ministry handles the negotiations in the US," Sitharaman remarked during the launch of the book 'The Glimpses of World History' in Visakhapatnam, Andhra Pradesh, according to a Business Standard report.

FM Sitharaman reassured that India's interests in export were being effectively communicated to the US officials. She highlighted the key actions taken by the government, such as engaging in stakeholder consultations before negotiations, facilitating active discussions led by Union Commerce Minister Piyush Goyal in the US, and ensuring continuous data-sharing with relevant industry groups to address and protect exporters' concerns.

Despite the uncertainty, Sitharaman was cautious about speculating on the outcome of the negotiations. "That’s all I can say for now - let’s see what comes out of the negotiations," she remarked.

Her comments come as Union Commerce Minister Piyush Goyal is currently in the US for discussions focused on protecting the interests of Indian exporters.

Reciprocal Tariff

The trade discussions are taking place amid US President Donald Trump’s push for reciprocal tariffs, a policy designed to match import duties imposed by trading partners on American goods. This has raised concerns among Indian exporters, particularly in sectors like textiles, pharmaceuticals, and IT services, which depend on stable trade relations with the US.

While India and the US share deep economic ties, past trade tensions have occasionally arisen over market access, tariff structures, and regulatory policies. The outcome of these negotiations will be pivotal in shaping the future of India-US trade relations under the Trump administration.