Jaishankar and Rubio Discuss Trade, Nuclear Cooperation
The Minister of External Affairs, S Jaishankar, engaged in a telephonic discussion with the US Secretary of State, Marco Rubio, emphasizing collaboration in trade, essential minerals, nuclear energy, and defense sectors. The conversation between Jaishankar and Rubio took place the day following the statement made by newly appointed US ambassador Sergio Gor regarding potential communication between both parties regarding trade matters.
“Just concluded a good conversation with @SecRubio. Discussed trade, critical minerals, nuclear cooperation, defence and energy,” he said on social media.
“Agreed to remain in touch on these and other issues,” he adds.
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The Minister of Foreign Affairs expressed that he had an ‘excellent discussion’ with Rubio and they mutually decided to keep communication lines open.
The US Department of State reported that Senator Rubio expressed his congratulations to India for passing the legislation focused on the sustainable utilization and development of nuclear energy to modernize India.
He expressed interest in capitalising on this “important development to enhance US-India civil nuclear cooperation and expand opportunities for American companies”, it says.
The relationship between India and the US experienced a significant decline following President Donald Trump's imposition of a high 50 percent tariff on Indian products, which also included a punitive levy of 25 percent on purchases of Russian oil.
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Last year, both parties engaged in several rounds of discussions in order to finalize a bilateral trade agreement. Nevertheless, the deal remains elusive primarily due to the insistence of the United States for India to liberalize its agriculture and dairy industries. In a speech delivered at the US embassy on Monday, Gor stated that India and the US are currently involved in productive discussions regarding the proposed trade agreement.
In his commentary, Gor expressed the critical importance of India to the US, emphasizing that no other nation holds as much significance in the global partnership.
“No partner is more essential than India. In the months and years ahead, it is my goal as ambassador to pursue a very ambitious agenda. We will do this as true strategic partners, each bringing strength, respect and leadership to the table”, he says.
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The telephonic discussion between Jaishankar and Rubio occurred on the same day that President Trump revealed plans to impose a 25 percent tariff on nations engaging in trade with Iran. It is anticipated that this newly implemented tariff will not significantly affect India, as the current trade volume with Iran amounts to less than $ 2 billion. According to reports, Iran is not included among India's top 50 global trading partners. In the previous year, India conducted trade with Iran amounting to $1.6 billion, representing approximately 0.15 percent of India's total trade.