Indian External Affairs Minister (EAM) S Jaishankar on Monday met US Secretary of State Marco Rubio at the 47th Association of Southeast Asian Nations (ASEAN) Summit being held in Kuala Lumpur. On the sidelines of the summit, the two leaders discussed a wide range of issues, including bilateral relations, regional developments and global challenges.
Acknowledging the interaction with Marco Rubio, S Jaishankar shared pictures of the summit on X with the caption: “Enjoyed meeting @SecRubio in Kuala Lumpur this morning. Appreciated the discussion on our bilateral ties as well as regional and global issues.”
The high-level interaction comes at a time when trade talks are underway between India and the United States, adding diplomatic weight to the broader economic dialogue between the two nations.
In August, US President Donald Trump imposed a 50% tariff on Indian exports, including a 25% penalty for New Delhi’s continued purchase of discounted Russian oil. The move has disrupted trade relations between the two countries, which are now trying to resolve the dispute.
India’s cautious approach to trade deal
Union Commerce and Industry Minister Piyush Goyal had earlier stressed that India would not conclude any trade deal “in a hurry” or accept restrictive conditions from trading partners that could limit the country’s “trade choices”. The comments reflected New Delhi’s cautious approach as trade discussions between Delhi and Washington continue, ANI reported.
Piyush Goyal said trade deals must focus on building “trust, long-term ties and creating sustainable frameworks for global trade cooperation” beyond “tariffs or market access”. He also emphasized that India’s trade strategy with the US is in line with its long-term economic goals, ANI reported.
Goyal said Delhi would continue to take a cautious and balanced approach to any trade deal. Indirectly referring to the discussions with Washington, he said: “In a very short-term context, it’s not about what happens in the next six months. It’s not just about being able to sell steel to America.”
He added that India’s trade strategy is driven by a long-term perspective rather than short-term goals, adding, “Trade deals are for the longer term. It’s not just about tariffs, it’s also about trust and relationship. Trade deals are also about business.”
How are the US-India trade talks progressing?
Despite the cautious stance, Commerce Minister Rajesh Agrawal said on Friday that trade talks between India and the US were “progressing well”, with the two sides “converging” on most points. Agrawal hinted that a win-win deal, referring to the Bilateral Trade Agreement (BTA), may be close.
“I think we are very close,” Agrawal said, referring to the bilateral trade agreement (BTA) proposed by Prime Minister Narendra Modi and US President Donald Trump on February 13.
