US Treasury Secretary Scott Bessent said he had expected India to be among the first countries to reach a trade deal with Washington by May or June. The 50 per cent tariff imposed on Indian goods last week reflects frustration over prolonged negotiations and India’s Russian oil purchases.
Former finance secretary Subhash Garg stated that India has effectively stepped back from the trade talks in response to the unilateral US tariffs.
Bessent emphasized that despite tensions, both nations will eventually resolve their differences, noting, “India is the world's largest democracy. The US is the world's largest economy.” PM Modi, meanwhile, assured that India will withstand the tariff pressure.