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www.newsindiatimes.com – that’s all you need to know Special Report: Tariffs &Trade News India Times (April 12, 2025 - April 18, 2025) April 18, 2025 5 India, US Finalize Terms Of Reference For First Phase Of Trade Deal, Says India Trade Official I ndia and the U.S. have finalised terms of refer- ence for talks over the first segment of a bilateral trade deal, a trade official said on Friday, adding that there was a possibility of a “win-win shape and form” to the deal in the next 90 days. The U.S. is India’s largest trading partner and two-way trade between the countries surpassed $118 billion in 2023-24. Reuters reported on Thursday that India wanted to move quickly to clinch a bilateral trade deal with the U.S. following President Donald Trump’s decision to pause reciprocal tariffs for dozens of countries, including India. Trade engagements between the countries will continue virtually and regularly, the official said. “We are far ahead in trade talks with the U.S com- pared to other countries… there are lots of possibili- ties in 90 days,” said the official, who did not want to be named because of the sensitivity of the issue. Trump’s administration had announced a 26% tariff on Indian goods last week, and India had said it did not plan to retaliate against the levies. -Reuters By Shivangi Acharya and Manoj Kumar “We Never Negotiate At Gunpoint,” India Reacts To 90-Day Pause In US Tariffs On India A fter US President Donald Trump hit the pause button on India’s tariffs, Union Commerce Min- ister Piyush Goyal said that India will not be in a hurry and will negotiate what is in the interest of its people. Speaking on the sidelines of the Italy-India Business, Science and Technology Forum, Union Minister Piyush Goyal said, “Trade talks proceed when both sides are sensitive to each other’s concerns and requirements. All our trade talks are progressing well, in the spirit of India First, and to ensure our pathway to Viksit Bharat @ 2047 in the Amrit Kaal…” “We never negotiate at gunpoint. Favourable time constraints motivate us for quicker talks, but till the time we are not able to secure the interest of our country and our people, we do not hurry,” he added. Earlier, speaking at the Carnegie Global Technology Summit, External Affairs Minister S Jaishankar said that India is prepared for a high degree of urgency in reaching a trade deal with regards to the United States, a country which he said has fundamentally changed its approach to engaging with the world and it has consequences across every domain. Jaishankar said that India’s trade deals are very chal- lenging as the US is very ambitious, and the global land- scape is very different from what it was a year ago. “This time around, we are certainly geared up for a very high degree of urgency. I mean, we see a window. We want to see stuff. So our trade deals are really challenging. And we are really, when I look at the trade deals, I mean it’s not my direct credit, but we have a lot to do with each other. I mean, these are people very much on top of their game, very ambitious about what they want to achieve,” he said. Jaishankar added that just as the US has a view of India, India too has a view of them. “We talked for four years during the first Trump administration. They have their view of us, and frankly, we have our view of them. The bottom line is that they didn’t get that. So if you look at the EU, often people say we’ve been negotiating for 30 years, which is not entirely true because we had big blocks of time and nobody was even talking to each other. But they have tended to be very protracted processes,” he said. Jaishankar said that trade and technology influence US-China trade dynamics, and China’s decisions are as consequential as those of the US. Meanwhile, China on Friday hit back at the latest US tariffs by imposing 125 per cent tariffs on imports of all US goods. Chinese official Xinhua agency cited the Cus- toms Tariff Commission of the State Council to state that it will lift the additional tariffs on products imported from the US to 125 per cent from 84 per cent, effective April 12. China has also filed a lawsuit with theWTO following the latest US tariff hikes, the Chinese commerce ministry said as per a report in the official Xinhua Agency. -ANI PHOTO:ANI PHOTO:ANI PHOTO: REUTERS/Eduardo Munoz/File Photo PHOTO: REUTERS/Kevin Lamarque/File Photo Minister Piyush Goyal speaking about the 90-day pause in US tariffs. External Affairs Minister S Jaishankar. A man holds the flags of India and the U.S. while people take part in the 35th India Day Parade in New York August 16, 2015. U.S. President Donald Trump and Indian Prime Minister Narendra Modi shake hands as they attend a joint press conference at the White House in Washington, D.C., U.S., February 13, 2025. 82nd KNOW INDIA PROGRAMME (KIP) A nnouncing the commencement of the 82nd Edi- tion of the KNOW INDIA PROGRAMME (KIP). The Programme will be held for Diaspora youth (aged between 21-35 years) of Indian Origin. The selected participants will be invited to visit India to explore facets of Indian life, cultural heritage, art and various aspects of contemporary India. The Programme for 2025 will be held from 12 May to 31 May 2025. The last date of application is 18 April 2025. For more details please visit https://www.indianem- bassyusa.gov.in/News?id=250039 Best Regards, Press, Information & CultureWing Embassy of India 2107 Massachusetts Ave NW Washington DC 20008t. By Ministry of External Affairs, Government of India PUBLIC SERVICE ANNOUNCEMENT