{"id":162526,"date":"2025-08-30T08:34:21","date_gmt":"2025-08-30T08:34:21","guid":{"rendered":"https:\/\/quixnet.net\/wpinstance\/india-holds-informal-us-talks-rules-out-retaliation-for-now-mint\/"},"modified":"2025-08-30T08:34:21","modified_gmt":"2025-08-30T08:34:21","slug":"india-holds-informal-us-talks-rules-out-retaliation-for-now-mint","status":"publish","type":"post","link":"https:\/\/quixnet.net\/wpinstance\/india-holds-informal-us-talks-rules-out-retaliation-for-now-mint\/","title":{"rendered":"India Holds Informal US Talks, Rules Out Retaliation for Now – Mint"},"content":{"rendered":"

(Bloomberg) —  
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India and the US are keeping informal communication channels open and New Delhi has no immediate plans to retaliate against President Donald Trump\u2019s 50% tariffs on the South Asian nation, according to an official familiar with the matter. 
While talks on a bilateral trade deal have been postponed, the two countries continue to communicate on critical issues, including defense and foreign policy, a top official from the Ministry of Commerce and Industry said, asking not to be identified because the discussions are private.
The person cited virtual talks this week involving Trump officials and senior representatives from India\u2019s foreign and defense ministries as an example of how key departments in both governments continue to engage. 
India\u2019s Ministry of Commerce and Industry didn\u2019t respond to a request for further information.
Commerce and Industry Minister Piyush Goyal later told reporters Friday that India is holding discussions with the US for a bilateral trade agreement. 
Trump doubled tariffs on India to 50% this week, the highest in Asia, penalizing the country for its purchases of Russian oil. The levies will hurt labor-intensive industries such as textiles and jewelry hardest and risk eroding India\u2019s export competitiveness against rivals like China and Vietnam. Citigroup Inc. estimates the tariffs could reduce India\u2019s annual growth by 0.6 to 0.8 percentage points.
Tariff worries pushed India\u2019s rupee to a record low against the dollar on Friday. The local currency was trading at 88.2388 a dollar at 2.25 p.m. local time, down nearly 0.61%, breaching its previous all-time low of 87.9563 in February. The rupee is Asia\u2019s worst-performing currency this year, pressured by persistent foreign outflows from local equities.
India\u2019s government has decried the tariffs as unfair, and has said it will keep buying Russian oil as long as its financially beneficial. 
The US and India had earlier this year signed a framework agreement for a bilateral trade deal, committing to finalizing the first tranche of that pact by the fall of this year. 
New Delhi will keep working with Washington toward that bilateral trade deal although no date has been set for the next round of talks, the official said. A US trade team that was scheduled to arrive in India on Aug. 25\u201329 for a sixth round of trade talks had deferred its visit. 
A trade deal between the two nations can\u2019t be signed until both the reciprocal tariffs and the secondary duties over Russian oil purchases are scrapped, the official said.  
–With assistance from Subhadip Sircar and Anup Roy.
(Updates with commerce minister\u2019s comments in fifth paragraph.)
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(Bloomberg) —   Follow Bloomberg India on WhatsApp for exclusive content and analysis on what billionaires, businesses and markets are doing. Sign up here. India and the US are keeping informal communication channels open and New Delhi has no immediate plans to retaliate against President Donald Trump\u2019s 50% tariffs on the South Asian nation, according to […]<\/p>\n","protected":false},"author":1,"featured_media":162527,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[9],"tags":[],"class_list":["post-162526","post","type-post","status-publish","format-standard","has-post-thumbnail","category-us","entry"],"_links":{"self":[{"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/posts\/162526","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/comments?post=162526"}],"version-history":[{"count":0,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/posts\/162526\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/media\/162527"}],"wp:attachment":[{"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/media?parent=162526"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/categories?post=162526"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/quixnet.net\/wpinstance\/wp-json\/wp\/v2\/tags?post=162526"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}