'Any Understanding With US Only When It Respects India's Red Lines': Jaishankar As New Delhi Holds Ground

New Delhi: External Affairs Minister (EAM) S Jaishankar on Sunday said that there has to be understanding with the United States on trade where India's bottom lines and red lines are respected.Addressing the 4th Kautilya Economic Conclave in New Delhi, Union Minister S Jaishankar expressed the need to have a trade understanding with the United States adding that not only because it's the world's largest market, but also because much of the world already has such arrangements.India and the United States had yet to "reach a landing ground" in ongoing trade negotiations."Today, we have issues with the United States... that we haven't yet arrived at a landing ground in our trade discussions. In addition there is a certain tariffs being levied on us,

which we have publicly said are unfair," said Jaishankar."There are problems, there are issues, nobody is in denial of it. Those issues need to be negotiated and discussed and resolved, which is exactly what we are trying to do. But I would really sort of hesitate to read very much more into it," Jaishankar added.Speaking further, the Union Minister said, "I deal in a world of realities, and my reality right now is at 25 per cent and 25 per cent of a 50 per cent tariff, and that is what right now we are negotiating. So, whatever happens at the end of the day there has got to be a trade understanding with the United States. There has to be one because it is the world's largest market but also because much of the world has reached those understandings. But it has to be an understanding where our bottom lines, our red lines are respected."Jaishankar also threw some light upon the changing global trade scenario and said, "In the case of Europe, what was a sweet spot in terms of US-Russia-China, US - security, Russia - energy, China - trade, has actually got turned around and every one of those aspects today, has become a challenge."

On US and China relations, the Union Minister said, "....Clearly, what we can see is that the US-China relationships in many ways are going to influence the direction of global politics."Adding further, Jaishankar mentioned, "...In the case of the United States, it is not only more assertive but it has encouraged its national interest goals to drive its approach towards partnerships and cooperation. In the case of China, this change perhaps catches them at a time when many of the new concepts, mechanisms, institutions that they were pushing are not yet in place. But clearly, what we can see is that the US-China relationships in many ways are going to influence the direction of global politics."

'US Think That They Don't Need Rest of The World But...': Jaishankar

Addressing to what seems to be a building development that United States don't need the rest of the world today, Jaishankar said, "...We have also seen in a few cases, in the cases of major polities, that their belief in balance for power is probably much less. They seem to think that they may not need the rest of the world as much as they did before. So, if they have margins of power, they are prepared to exercise those margins in pursuit of their policies and actions. We have seen overall the global needle move much more towards competition... That global needle is moving because there is today a tendency to weaponise almost everything and that if a State has a tool in its toolkit, there is much less reticence, particularly on the part of major powers to use that..."

Terming the trade relations "one-sided", President Donald Trump slapped 50 per cent tariffs on India, citing the country's crude oil import from Russia, which is fueling the war in Ukraine.The new reciprocal tariff rates by the US Customs and Border Protection (CBP) are in effect from August 27.