He urged India, China, and Brazil to pressure Putin for peace talks, as these tariffs could severely impact their economies.

India believes it is premature to create a contingency plan without clarity on the scope and impact of the US's reciprocal tariffs. ⦁ India and the EU will resume negotiations on their free trade agreement in early September.

India's goods trade deficit expected to widen to USD 300 billion in FY26 due to weak exports and strong imports.

The official added that the Indian team is in Washington for the fifth round of negotiations on the proposed bilateral trade agreement (BTA).

Trump has signaled plans to impose new tariffs on pharmaceuticals and semiconductors as soon as the end of July, warning that rates on drug imports could eventually soar as high as 200 percent.

Trump might be the immediate cause of this rift, but, as always, China's massive manufacturing overcapacity is at the heart of the problem

Several countries such as Bangladesh, Cambodia, Indonesia are facing a tough time due to Donald Trump's tariffs. India can take advantage of this situation by

India stands at a critical economic juncture. The combination of sound domestic macroeconomics and rising external frictions presents both a test and an opportunity.