Overview
- Negotiations on a bilateral trade understanding remain unresolved, with no "landing ground" reached despite multiple rounds since March.
- The U.S. has doubled duties on Indian goods to roughly 50%, combining a 25% reciprocal rate with a 25% penalty linked to India’s Russian oil purchases.
- Jaishankar labeled the Russia-linked levy especially unfair, noting other buyers of Russian energy have not faced similar penalties.
- Sharp gaps on agriculture and dairy market access continue to block a deal, even as both sides keep channels open after leader-level outreach.
- He said tariff volatility is overturning trade calculations and stressed that most other facets of the India–U.S. partnership continue as business as usual.