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India-US Ties in 'Uneasy Equilibrium' Over Tariffs CEA

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Chief Economic Adviser V Anantha Nageswaran says India-US relations remain unsettled as tariff disputes persist and a new US law threatens 100% levies.

India's economic relationship with the United States remains in an "uneasy equilibrium" as trade disputes between the two partners drag on, Chief Economic Adviser V Anantha Nageswaran said on Thursday. Speaking at the State Bank of India's banking and economics conclave in Mumbai, he pointed to friction that has not eased since tariff measures surfaced last year.

"There is this issue of unsettled relationship with the US, starting from the tariff-related issues last year, which are still continuing," Nageswaran said.

The comments come as New Delhi confronts a fresh tariff threat despite reaching an interim trade deal with Washington earlier this year. A new US law hands President Donald Trump the authority to impose levies of up to 100% on countries that buy Russian oil and gas. That power adds uncertainty while India and the US continue to negotiate a final tariff rate.

Nageswaran framed the trade and energy pressures on India as part of a wider push to force countries to pick sides between rival global blocs. He said India could not align itself with any single bloc.

"India, given its geography and its size, cannot obviously belong to any bloc," he said.

That independence, he cautioned, may carry a price. Nageswaran said maintaining a non-aligned position could leave India exposed to higher energy prices and periodic disruptions to supply.

The remarks underline the balancing act facing policymakers as the two governments work toward a final agreement while the threat of steep new duties tied to Russian energy purchases hangs over the talks.

India US trade, V Anantha Nageswaran, tariffs, Russian oil, Donald Trump tariffs, chief economic adviser, India US relations, SBI conclave

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