Not Concerned Over Trump's Tariff Threats, Doesn't Impact Trade Dynamics: Government Sources
There is nothing pointed towards India adversely so far that will hurt the trade dynamics, as per the government sources.
The government is not seeing a reason for concern emerging from US President Donald Trump's repeated tariff threats against several nations including India, according to sources.
Top government sources have indicated that there is nothing pointed towards India adversely so far that will hurt the trade dynamics.
The United States is India's largest trading partner, with $119.7 billion worth bilateral trade in goods. This comprises $77.5 billion in exports and $42.2 billion of imports. India is in trade surplus of about $35.3 billion with the US.
Since his oath, Trump has sounded alarm bells across geographies, with moves like tariff threats to BRICS nations, and pulling out of the global tax deal as well as the Paris Agreement. Most recently, Trump called India, China and Brazil "tremendous tariff-makers" and warned of retaliatory duties.
While the Indian government has been largely optimistic, there's an element of caution as well.
Commerce and Industry Minister Piyush Goyal has said that Trump is a "friend of India," and India-US friendship will only continue to blossom and grow further.
External Affairs Minister S Jaishankar called Trump 2.0 "an extraordinarily active administration" and said India's relationship with the US will go to a higher level.
Union Minister Ashwini Vaishnaw, while speaking to Bloomberg, said India is being looked at "as a trusted country" and that "trust will outweigh any of the negative impacts".
