Overview
- Speaking at Harvard Kennedy School, Gina Raimondo called an 'America Alone' posture disastrous and urged deeper commercial ties with Europe, Japan and Southeast Asia, citing ASML as an example.
- Her remarks follow Washington's 50% tariffs on Indian goods, including duties tied to Russian oil purchases, which New Delhi calls unfair while continuing those imports.
- Indian officials say a bilateral trade agreement is very near on most issues, with legal language under review, yet tariff levels and non‑tariff barriers remain unresolved.
- Commerce Secretary Howard Lutnick has defended the tariffs and linked progress to curbing Russian oil purchases, while India rejected claims it agreed to cut those imports.
- Early trade effects are visible, with India's goods exports to the U.S. down 12% year on year in September as overall Indian exports rose.