After Trump’s ‘Big Announcement', Jaishankar Meets Rubio To Cement Official India-US Trade Proclamation; Joint Note Expected Shortly

New Delhi: Indian External Affairs Minister Dr. Subrahmanyam Jaishankar meets with US Secretary of State Marco Rubio at the US Department of State, Washington DC. First meet of US-India FMs after announcement of US-India Trade Deal by Trump.  

The meeting took place against the backdrop of a significant shift in economic ties. On Monday, following a telephone conversation between Prime Minister Narendra Modi and US President Donald Trump, Washington agreed to immediately reduce reciprocal tariffs on Indian goods from 25 per cent to 18 per cent.

Strengthening 'Make in India' and Strategic Ties

Following the announcement, EAM Jaishankar expressed strong support for the deal, noting its potential to transform the economic landscape for both nations.

In a post on X, EAM Jaishankar hailed the announcement, stating, "Welcome the announcements on bilateral trade following the conversation between PM Narendra Modi and President Donald Trump. This will create more jobs, spur growth and promote innovation in both economies. It will strengthen 'Make in India' endeavours and encourage trusted technology ties. The opportunities in our economic engagement are truly vast and we are confident of realising them. A robust economic relationship is the strongest foundation for our strategic partnership." 

Discussions with Treasury Secretary Scott Bessent

External Affairs Minister S Jaishankar also met US Treasury Secretary Scott Bessent in Washington DC as part of an ongoing three-day visit to the United States, where he is participating in the inaugural Critical Minerals Ministerial on February 4. In a post on X, EAM held discussions with the US Treasury Secretary to advance the India-US economic partnership and strengthen strategic cooperation between the two countries. 

"Pleased to meet US Treasury Secretary Scott Bessent in Washington DC today. Had a useful discussion on advancement of India - US economic partnership and strategic cooperation," the External Affairs Minister said in his post.  

Joint Statement Expected as India Eyes $500 Billion in US Imports

Official sources indicate that a formal joint statement on the India-US trade deal is expected to be released within the next few days. The agreement sets a massive trajectory for future commerce, with India projected to import goods worth approximately $500 billion from the United States over the next five years. This includes a significant $20 billioninvestment in data centres alone. Officials also suggested that the final detailing of the deal may include zero-duty benefits for certain Indian exports.

Trump Outlines Energy and 'Buy American' Commitments

On Monday, US President Donald Trump shared his perspective on the agreement via Truth Social. He confirmed the tariff reduction to 18 per cent and stated that Prime Minister Modi has committed to a "BUY AMERICAN" policy at a much higher level.

According to President Trump, the deal involves a strategic pivot in energy, claiming that India "agreed to stop buying Russian Oil, and to buy much more from the United States and, potentially, Venezuela." The $500 billion commitment is expected to span energy, technology, coal, and agricultural products.

Protecting Agriculture and Domestic Interests

In a press briefing, Commerce Minister Piyush Goyal emphasized that Prime Minister Narendra Modi has remained firm on protecting India’s domestic interests during these negotiations. Goyal reassured the public that "sensitive sectors like agri and dairy have been protected" and will not be compromised under the new agreement.

He noted that the deal is currently in its final stages of technical detailing and will offer major boosts to Indian exporters in the engineering, textiles, and gems and jewellery sectors once the joint statement is finalized.