EAM S Jaishankar on India-US trade deal: ‘Very intricate negotiation, there will be some give and take’

Jaishankar’s remarks came during a conversation with Newsweek CEO Dev Pragad

External Affairs Minister (EAM) S Jaishankar has expressed hope that trade negotiations between India and the United States would reach a successful conclusion, while mentioning that there is a lot of “give and take” involved.

He also spoke about US President Donald Trump’s claim that he used trade to stop the recent conflict between India and Pakistan, which began after the Pahalgam terror attack claimed 26 lives.

Jaishankar's remarks came during a conversation with Newsweek CEO Dev Pragad.

“We are in the middle, hopefully more than the middle, of a very intricate trade negotiation. Obviously, my hope would be that we bring it to a successful conclusion, I cannot guarantee, because there's another party to that discussion, but no question,” he said.

"I believe it's possible, and I think we'll have to watch this space for the next few days," he said.

The External Affairs Minister was also asked about Trump’s claim that he used trade to stop the recent conflict between India and Pakistan and whether that has affected trade negotiations between Delhi and Washington.

“No, I don't think so. I think the trade people are doing what the trade people should be doing, which is negotiate with numbers and lines and products and do their trade-offs. I think they are very professional and very, very focused about it,” Jaishankar said.

He said that there is a national consensus in India that “our dealings with Pakistan are bilateral”. “And in this particular case, I can tell you that I was in the room when Vice President (JD) Vance spoke to Prime Minister (Narendra) Modi on the night of May 9, saying that the Pakistanis would launch a very massive assault on India if we did not accept certain things.”

“And the Prime Minister was impervious to what the Pakistanis were threatening to do. On the contrary, he indicated that there would be a response from us. This was the night before and the Pakistanis did attack us massively that night, we responded very quickly thereafter,” Jaishankar said.

“And the next morning, Mr (Secretary of State Marco) Rubio called me up and said the Pakistanis were ready to talk. So I can only tell you from my personal experience what happened. The rest I leave to you,” he said.

India is negotiating a trade deal with the US, known as the bilateral trade agreement (BTA), the first tranche of which is expected to be completed by the fall of 2025.

Jaishankar is currently on an official visit to the US at the invitation of US Secretary of State, Marco Rubio, to participate in the next edition of the Quad Foreign Ministers' Meeting (QFMM), scheduled for July 1.

The White House, meanwhile, has confirmed that US and India are close to finalising a significant bilateral trade agreement, with both sides working against a fast-approaching July 9 deadline.

(With agencies inputs)