India, US finalize Bilateral Trade Agreement plans, tariff talks pending

India is currently focused on finalizing the scope and details of a Bilateral Trade Agreement (BTA) with the United States, aiming to increase bilateral trade from $200 billion to $500 billion by 2030. Officials have confirmed that India has not raised the issue of reciprocal tariffs in talks with the U.S., as the U.S. is still conducting an investigation into potential tariffs that could affect India. Commerce Secretary Sunil Barthwal indicated that discussions are ongoing to address all significant bilateral trade issues without directly engaging on the tariff matter. The U.S. is expected to complete its investigation by April 1, which will inform any future tariff decisions. Meanwhile, U.S. Secretary of State Marco Rubio has stated that the U.S. will initiate negotiations for new trade agreements only after imposing tariffs on major trading partners, emphasizing fairness and reciprocity. Rubio's comments suggest a broader strategy for U.S. trade relations, indicating a potential shift in how the U.S. approaches trade negotiations globally.