Overview

• Speaking on Oct. 5 at the Kautilya Economic Conclave, the external affairs minister said India and the U.S. have yet to find a landing ground in trade negotiations and called the tariffs unfair.
• The U.S. has imposed a 25% reciprocal tariff plus an additional 25% levy tied to India’s Russian oil purchases, taking effective duties to about 50% since August 27.
• India insists any bilateral trade understanding must respect its red lines, with Jaishankar arguing the oil‑linked penalty is inconsistent because other Russian‑energy buyers were not similarly targeted.
• Five formal rounds of talks have been completed, with frequent engagements continuing, including a September USTR visit to New Delhi and a recent trade trip by Commerce Minister Piyush Goyal described as positive.
• Jaishankar said much of the broader partnership remains business as usual or is expanding even as the tariff dispute persists and negotiations continue.