'Coolly, calmly and collectively forge a deal that is good for America, good for India,' says US Diplomat
American diplomat and the President of the US-India Business Council, Atul Keshap, spoke on the decision by the United States to impose 25 per cent tariffs on India and said that the two countries should calmly forge a deal which benefits them both.He made the remarks while speaking to ANI.While answering a question on how the American companies are viewing the scenario, Keshap said, "I represent 200 of the largest companies in America and India. Let me tell you that they are all nervous. Indian companies in America are feeling very exposed and vulnerable right now. American companies in India are uncertain. Business doesn't like uncertainty; it likes predictability. If the US and India can't agree on a deal that frames the economic relationship and sends a positive psychological message to investors, it is going to very hard to see growth".Highlighting the commitment of both governments to enhance bilateral trade, he said, "Both the President and the PM advocated for getting a 500 billion dollar target in annual trade. We can't do it if we don't get this deal done because the deal is the foundation of what is going to be further deals. So, I think, speaking for the business community, everybody wants to see this drama come to an agreed deal."
Also Read: Trump unleashes new tariffs on 69 countries, set to take effect in 7 days: Full list and details
Answering a query on the latest slew of remarks which emerged from the US in regards to India, Keshap said, "I think people have to understand that Secretary Bessent and the President were talking about their concerns about India's purchases of Russian oil even before he began his second tenure. So, clearly, some of that is being reflected in all of these statements...So, President's frustration has clearly risen and it is starting to impact other countries that he feels directly or indirectly are helping sustain President Putin's very unhelpful stance."Bringing to the forefront the wide-ranging cooperation between India and the US, Keshap highlighted that the two countries have to act collectively and see where the interests are best served. He said, "I think what you are seeing in here is genuine frustration coupled with impatience...The US and India are the two largest and greatest democracies on earth. We have a people-to-people, business-to-business, scientific, academic, outer space, law enforcement, counter-terrorism, relationship that goes to very great extents and reflects the great relationship of our two nations well beyond Washington and Delhi...So, I think we have to take a deep breath collectively, not overreact. Great nations think things through and they act based on interest. We have to see where the interest is best served. In my humble and respectful view, that is in coolly, calmly and collectively forging a deal that is good for America, good for India and good for our businesses."
Also Read: Trump increases tariff on Canada to 35% from 25%, cites fentanyl ahead of August 1 deadline United States Treasury Secretary Scott Bessent has blamed India for "slow-rolling things" in the talks for a Free Trade Agreement and said "the whole trade team has been frustrated with them".The comments, made in an interview with CNBC, came a day after the US President announced a 25 per cent tariff on India and an unspecified penalty for purchasing Russian oil. The new US tariffs on Indian goods are set to take effect from August 1.After announcing a 25 per cent tariff and penalty for purchasing Russian oil, US President Donald Trump said on Wednesday (local time) that Washington is continuing trade negotiations with New Delhi. He emphasised that India is one of the countries imposing high tariffs on the United States.India has said that it is examining the impact of Trump's tariff announcement and will take necessary steps to safeguard its national interest.Commerce and Industry Minister told the Parliament on Thursday that the government is examining the impact of the recent events and will take all necessary steps to safeguard the national interest.
Also Read: While House announces 25% tariff on India, releases list of levies for several countries
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hans India
30 minutes ago
- Hans India
TG athletes can gain from new sports policy
If Telangana Chief Minister A Revanth Reddy has his say and goes all-out to implement his ambitious sports agenda, then the State, and its capital city in particular, will boast of world-class sports infrastructure across disciplines in the next couple of years. On the face of it, this is a praiseworthy effort as the bane of the Indian political apparatus has been the insipid promotion of sports, baring a select few. Budgetary allocations for sports have never been inspirational. In fact, the neglect is such that some allocations have been reduced here and there. The ambitiously carved out 32-page sports policy unveiled by Revanth Reddy the other day makes for a wonderful reading as he promises everything under the moon to realise his dream of making the state the hub of international sports. The comprehensive vision lays stress on strengthening governance, boosting infrastructure, and ushering in a breathtaking sports ecosystem that would result in the emergence of medal-winning athletes. There is no doubt that once he goes about the implementation process and enhances budgetary allocations, there would be smiles on the faces of countless sportspersons, coaches and the support staff. Over a period, Telangana can indeed be the envy of the nation going by the manner it brings about the best of infrastructure and sports avenues, including supporting budding talent coming from the poorer strata. Alas, carried away by the moment, Reddy revealed the politician in him when he spoke rather exaggeratedly that Hyderabad would be fit enough to host some Olympic disciplines by 2036. This is too ambitious a remark given that preparing grounds and facilities and putting in place infrastructure of an extraordinary kind for the mega event is no child's play. What the city has, as of now, is not sound enough to host even a fraction of the events that feature in Olympics. He should take cue from his political mentor N Chandrababu Naidu, who, in his effort to provide the best of facilities for the 2002 National Games, came up with the finest stadiums and playing surfaces. Budget was no problem. J Jayalalithaa constructed the magnificent JN stadium in nine months. Can Revanth Reddy emulate these records? The fact is that the stadiums constructed by Naidu like GMC Balayogi athletics stadium, KVBR stadium, tennis complex and the velodrome are all outdated as the wear and tear must have worn them out. They need to be refurbished before the city is good enough to host the National Games two years down the line, towards which Reddy is to approach the Indian Olympic Association. However, realising the herculean task that lies up ahead, the Chief Minister has played his masterstroke-a Public Private Participation (PPP). This will go a long way in helping him realise the dream of nurturing Olympic gold medallists and world champions across disciplines. Adding to this is the smart move to constitute a 14-member Board of Governors to oversee handling of the Telangana Sports Development Fund (TSDF). Featuring some big names from the world of sports and industry, including Kapil Dev, Abhinav Bindra, Pullela Gopichand and Bhaichung Bhutia, it will be headed by industrialist Sanjeev Goenka, which ensures transparent and accountable utilisation of resources that will be raised through the PPP mode. A good beginning has been made as the state was able to sign MoUs with many keen investors and sponsors. This can help promote exchange programmes with other nations and invest in proven international coaches. Hopefully, this will mark the beginning of rewarding days for sportspersons from Telangana.
Hans India
30 minutes ago
- Hans India
Russia plays down Trump's N-rhetoric
Moscow: Russia said on Monday that everyone should be "very, very careful" about nuclear rhetoric, responding to a statement by US President Donald Trump that he had ordered a repositioning of US nuclear submarines. In its first public reaction to Trump's comments, the Kremlin played down their significance and said it was not looking to get into a public argument with him. Trump said on Friday that he had ordered two nuclear submarines to be moved to "the appropriate regions" in response to remarks from former Russian president Dmitry Medvedev about the risk of war between the nuclear-armed adversaries. But Trump did not say whether they were nuclear-powered or nuclear-armed submarines. Kremlin spokesman Dmitry Peskov said American submarines were on combat duty anyway and dismissed the idea that there had been an escalation. "Very complex, very sensitive issues are being discussed, which, of course, many perceive very emotionally," Peskov said - though he added that everyone should be "very cautious" with nuclear rhetoric. US envoy Steve Witkoff is due to visit Russia on Wednesday, according to Russian media. Medvedev - who in recent years has espoused increasingly extreme rhetoric online - had accused Trump of "playing the ultimatum game" with Russia after the US President set a new deadline for Vladimir Putin to end the war with Ukraine. Medvedev did not react to Trump's response and has not been active on X since sending the offending post. Relations between the US and Russia improved significantly after Trump took office in January - although in recent months the US President has signalled he suspects Putin may not be truly committed to ending the war in Ukraine, which began when Moscow launched its full-scale invasion in February 2022.
Hans India
30 minutes ago
- Hans India
Trump threatens more tariffs on India
Washington/New Delhi: In a fresh trade threat against India, President Donald Trump on Monday said he will "substantially" raise US tariffs on New Delhi, accusing it of buying massive amounts of Russian oil and selling it for big profits. Last week, the Trump administration slapped a 25 per cent duty on all Indian goods. The US President also announced a penalty for buying "vast majority" of Russian military equipment and crude oil, but no mention was made in the notification. "India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits," Trump said in a social media post on Monday. "They don't care how many people in Ukraine are being killed by the Russian War Machine. Because of this, I will be substantially raising the Tariff paid by India to the USA," he added. In its reaction, India said it will take all necessary steps to safeguard and promote national interest and that the implications of the tariffs are being examined. India's import of crude oil from Russia has risen from 0.2 per cent of total purchases before the Russia-Ukraine war to 35-40 per cent. New Delhi is the largest buyer of Russian oil after China. On August 1, Trump signed an Executive Order titled 'Further Modifying The Reciprocal Tariff Rates', raising tariffs for over five dozen countries, including a steep 25 per cent for India. The executive order, however, did not mention the 'penalty' that Trump had said India will have to pay because of its purchases of Russian military equipment and energy. White House Deputy Chief of Staff Stephen Miller, in an interview to Fox News Sunday, stated that President Trump has said very clearly that 'it is not acceptable for India to continue financing" the Ukraine war by purchasing oil from Russia. Last week, Trump mounted a sharp attack on India and Russia for their close ties and said the two countries can take their "dead economies down together", a remark which prompted New Delhi to say that India is the world's fastest-growing major economy. Declaring that the US has a massive trade deficit with India, Trump had said that while 'India is our friend, we have, over the years, done relatively little business with them because their tariffs are far too high, among the highest in the world, and they have the most strenuous and obnoxious non-monetary Trade Barriers of any country.
