We continue to remain engaged with US side on trade issues: MEA

New Delhi [India], September 5 (ANI): India continues to remain engaged with the US side on trade issues, the Ministry of External Affairs said on Friday, while noting that the relationship between the two countries is anchored in shared interests, democratic values and robust people-to-people ties.

Answering questions during weekly press conference, MEA spokesperson Randhir Jaiswal said the partnership between India and the US has weathered several transitions and challenges.

Answering queries about the next Quad Summit, which is to be hosted by India, Jaiswal said the grouping is a valuable forum for discussion among the four member countries on shared interests on several issues.

Apart from India, the Quad includes Australia, Japan and the United States.

"We continue to remain engaged with the US side on trade issues... We see the Quad as a valuable forum for discussion among the four member countries on shared interests on several issues. The leaders' summit is scheduled through diplomatic consultations among the member countries," the MEA spokesperson said.

US has imposed 50 per cent tariffs on Indian goods, including 25 per cent penalty for importing Russian oil. India and the US have been talking for a mutually beneficial Bilateral Trade Agreement (BTA).

Jaiswal did not respond to queries on US President Donald Trump's latest post on social media in which he had talked about India, China and Russia.

"I have no comments to offer on this post at this time," Jaiswal said.

"Looks like we've lost India and Russia to deepest, darkest China. May they have a long and prosperous future together!" Trump said in a post on X.

The government had earlier said that India's ties with any country stand on their own merit and should not be viewed through the prism of a third country.

The MEA spokesperson described White House Trade Adviser Peter Navarro's recent remarks relating to India as "inaccurate and misleading".

"We have seen the inaccurate and misleading statements made by Mr. Navarro and obviously we reject them. We have also spoken about it earlier. This relationship between the United States and India is very important for us. Both our countries share a comprehensive global strategic partnership, which is anchored in our shared interests, democratic values and robust people-to-people ties. This partnership has weathered several transitions and challenges," he said, answering a query.

"We remain focused on the substantive agenda that our two countries have committed to, and we hope that the relationship will continue to move forward based on mutual respect and shared interests. As you would have seen, I would draw your attention to a joint military exercise that is underway in Alaska. A few days ago, there was a 2+2 inter-sessional meeting... Talks between both countries is going on and we are committed to strengthening our partnership," he added.

Jaiswal's remarks on India continuing to remain engaged with the US side on trade issues come a day after Commerce and Industry Minister Piyush Goyal said that negotiations are underway with the United States.

He said there is no need to "panic" as India and the US will come to an equitable, balanced and fair agreement.

In an interview with ANI on Thursday, Piyush Goyal assured that India and the US continue to have good relations.

"I do not think there is any need to panic. We should allow the negotiations to happen. We continue to have good relations with the United States, and I am sure we will be able to resolve some of these issues and come to an equitable, balanced and fair agreement."

When asked about the timeline of the negotiations, he said, "There is never a timeline in negotiations. You should do it patiently, as you are doing it for the long term."

Trump announced 25 per cent tariffs on Indian goods in July and later imposed 25 per cent penalty for import of Russian oil.

The 50 per cent tariffs imposed by the US on Indian goods came into effect on September 27. The US President imposed 25 per cent tariffs on India last month amid trade talks between two countries and then imposed an additional 25 per cent on India as penalty for buying oil from Russia.

Following the US decision, Ministry of External Affairs had said that "targeting of India is unjustified and unreasonable" and like any major economy, India will take all necessary measures to safeguard its national interests and economic security.

The MEA statement issued last month noted that the European Union in 2024 had a bilateral trade of Euro 67.5 billion in goods with Russia. In addition, it had trade in services estimated at Euro 17.2 billion in 2023. This is significantly more than India's total trade with Russia that year or subsequently. European imports of LNG in 2024, in fact, reached a record 16.5mn tonnes, surpassing the last record of 15.21mn tonnes in 2022.

It said Europe-Russia trade includes not just energy, but also fertilizers, mining products, chemicals, iron and steel and machinery and transport equipment.

Where the United States is concerned, it continues to import from Russia uranium hexafluoride for its nuclear industry, palladium for its EV industry, fertilizers as well as chemicals, the MEA statement said.

Answering a query concerning Ukraine conflict, Jaiswal said we welcome all the recent efforts towards establishing peace. Russia and Ukraine have been engaged in conflict since February 2022.

"As far as the Ukraine conflict is concerned, we welcome all the recent efforts towards establishing peace in Ukraine. We hope that all parties will proceed constructively. India supports an early end to the conflict and the establishment of enduring peace," he said. (ANI)

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