US Secretary of State Marco Rubio on Sunday, May 24, said India and the United States have made “tremendous progress” over the much-awaited trade agreement that will be “beneficial” and “sustainable” for both nations. He asserted that the overall bilateral ties between India and the US are set to witness an upward trajectory.
Rubio is currently on a four-day visit to India. Earlier in the day, he held wide-ranging talks with External Affairs Minister S Jaishankar, which were focused on boosting two-way cooperation in key areas like trade, critical minerals, energy and defence.
Rubio’s maiden trip to India comes after Donald Trump administration’s trade and tariff policies.
“We have made tremendous progress, and I think we are going to wind up with a trade agreement between the US and India that is going to be enduring and is going to be beneficial to both sides and sustainable in a way that addresses national interests that we have,” Rubio said, while holding a joint media briefing with S Jaishankar.
Rubio further argued that the Trump administration’s policy on trade is driven by a greater aim for recalibrating the country’s overall approach on global trade. He added that it was not directed against any specific country.
“This is about the United States in terms of trade. The President did not say: ‘Let’s figure out a way to create friction with India over trade’. The President came in and said: ‘We have a trade situation involving the US economy that doesn’t work moving forward’. There’s a huge imbalance that’s built up, and it needs to be addressed. He pursued it from a global perspective,” Rubio said.
He further highlighted that there was virtually no nation across the globe that he has travelled to where the issue regarding trade was not flagged.
Also, Rubio mentioned that a US trade delegation will be visiting India “very soon”. It will take forward the talks on the proposed trade deal.
Addressing problems regarding trade with its allies, including the EU, Rubio said, “The difference is that India is a massive economy. This is a big economy where you’re the leading trade partner. We do a lot of trade with India, and so obviously, there’s a big difference between rebalancing trade with a country of this size and magnitude.”
He added that the “good news” was that through this rebalancing, “we are ultimately seeking and believe we will arrive at trade arrangements around the world that are good for the United States, but also good for our trade partners”.
Moreover, Rubio asserted that the two nations were strategically aligned on several key global issues, such as critical minerals, supply chains and terrorism.
He even termed India as “one of the most important strategic partners” for the US.