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New Delhi/Washington: As soon as he started his second term, US President Donald Trump has started a ‘Economic Nuclear War’ by dropping a tariff bomb on countries around the world. However, Trump has retreated after postponing the implementation of tariffs on 90 countries for 90 days and has started dialogue with major countries of the world for trade deals. Trump’s tariffs have not been implemented in India and now Vice President JD Vance is coming to India to negotiate bilateral trade agreement. On the other hand, Indian officials are going to America. In the midst of this development, Trump has announced to talk to China by announcing a 245 percent tariff on China. Trump has also claimed that the conversation with China will be very good.
Prior to the four -day visit to India by US Vice President JD Vance, starting next week, India and the United States have allegedly agreed to the outline of their upcoming bilateral trade agreement, which is an important step in economic cooperation between the two countries. The trade agreement is expected to include around 19 sections, including areas such as goods, services, investment and customs procedures.
To finalize the agreement, a senior Indian delegation will visit Washington next week, as US Vice President JD Vance will visit India for a trade agreement to carry forward bilateral trade talks between the two countries. A high-level Indian delegation led by Additional Secretary Rajesh Aggarwal will reach Washington on a three-day visit from Wednesday 23 April, where there will be a first-face discussion between the two countries. Rajesh Aggarwal was appointed the next Commerce Secretary yesterday. He will take his new office from 1 October.
US Assistant External Affairs Minister for South and Central Asia, 25-29 March The upcoming discussions will be carried forward in view of the recent visit of trade representative Brendon Lynch and is understood to have an initiative to continue the recent diplomatic exchange. The yatra is based on senior level discussions held earlier in New Delhi. Experts are looking at this officer level meeting as a sign of increasing speed in the negotiations between the two countries towards a possible bilateral trade agreement.
The negotiations began in March and the goal of the two sides is to complete the first phase of the agreement from September to October this year, with a comprehensive target to increase bilateral trade from double to $ 500 billion by double. Bilateral trade between the two countries is currently $ 191 billion. This trade agreement is expected to include significant decrease in tariffs. America is eyeing areas such as electric vehicles, some industrial goods, alcohol, dairy, petrochemicals, apples, tree nuts, while India is eyeing areas such as cloth, apparel, gems and jewelery, leather goods, chemicals, plastic, shrimp, oilseeds and horticulture products.
The US has been India’s top trading partner between 2021-22 and 2024-25. In 2024–25, India recorded a goods trade surplus of $ 41.18 billion with the US, $ 35.32 billion in the previous year and $ 27.7 billion in 2022-23. However, increasing imbalance has raised concerns in Washington, due to which the Trump government has announced a new tariff on imports in Indian exports from April 2, ie the US. But the implementation of these new tariffs has been postponed till 9 April to make a place for negotiations.
Meanwhile, US President Donald Trump said at the Oval Office that we are interacting with China. China has contacted us several times. I think we are going to make a very good compromise with China. However, Trump refrained from answering questions about direct conversation with Chinese President Xi Jinping.
Policy action will be taken if needed: RBI Governor
New Delhi: Amidst the US tariff attack, RBI Governor Sanjay Malhotra said that the central bank is monitoring the rapidly changing global conditions. If necessary, she will not hesitate to take policy steps. Indian economy and financial markets have shown remarkable flexibility. However, he warned that the economy and the financial markets are not untouched by the uncertainty of unstable global environment. Speaking at the 24th FIMMDA-PDAI annual conference held in Bali, Malhotra said, “Given the rapidly changing global conditions, we are constantly assessing the economic landscape.” We will always be active and ready in our works. There has been a significant improvement in balance between growth rate and inflation and inflation is also within a tolerant limit. However, global uncertainties and meteorological disturbances can pose risk to inflation.
Dragon practiced to please India after Trump’s shock
Indian companies welcome in China, ready to reduce trade deficit
– China will get India’s exports promoted, chili, iron ore will be imported from India
Beijing: Troubled by US President Donald Trump’s tariff war, China is now ready to improve business relations with India. After the Malwan violence in eastern Ladakh, India has imposed several restrictions on trade with China, while Dragon, who is hurt by Trump’s tariff war, has now started efforts to please India.
After India has given a strong reply to China on the border dispute, now China has made a big offer to India to improve business relations. China has also shown its readiness to reduce trade deficit with India. The trade deficit between India and China has reached around $ 100 billion. Chinese Ambassador Zhu Faihong said that China wants a strong relationship with India. We are also ready to reduce India’s trade deficit. India’s exports to China will be encouraged. He hoped that Chinese companies would also be provided a suitable environment in India. Zhu Faihong said that premium Indian products are welcome to the Chinese market.
The Chinese ambassador said that economic and business relations between the two countries would be beneficial. China has never deliberately raised its trade deficit. This may be due to market activities and changing economic conditions. But we are ready to reduce trade deficit with India. China is the second largest consumer market in the world. There is immense possibilities of investment and expenditure between very large middle income groups. Indian industries should take advantage of this. In the last financial year, India imported chili, iron ore and cotton threads from China. India will also take seriously the concerns of China.