India-US trade deal: External Affairs Minister S Jaishankar, on the occasion of the United States’ Independence Day, reaffirmed India’s confidence in its growing strategic partnership with Washington. In a message posted on X (formerly Twitter), Jaishankar extended warm wishes to US Secretary of State Marco Rubio and the American people, expressing optimism about the future of bilateral ties.

“Confident that our strategic partnership, anchored in shared values and common interests, will deepen for the benefit of our peoples,” he wrote.

India-US relation

Jaishankar was recently in Washington for the Quad Foreign Ministers’ Meeting, where he joined counterparts from Japan, Australia, and the US Secretary Rubio, who hosted the meeting, praised the Indian minister, calling him a “very busy man” who has remained central to India’s global diplomatic engagements.

Warm wishes to @SecRubio, the Government and the people of the USA on their Independence Day.

Confident that our strategic partnership, anchored in shared values and common interests, will deepen for the benefit of our peoples.

🇮🇳 🇺🇸 pic.twitter.com/mmNAfw987D

— Dr. S. Jaishankar (@DrSJaishankar) July 4, 2025

What India said on the proposed US tariff bill?

On the sidelines of the summit, Jaishankar addressed growing concerns around a proposed US bill that could impose tariffs as high as 500% on countries importing Russian oil, a move that could significantly affect India.

Referring to legislation championed by Senator Lindsey Graham, Jaishankar said India had communicated its concerns. “Any development happening in the US Congress is of interest to us if it could impact our national interest,” he said. “We have been in touch with Senator Graham. Our concerns and our interests on energy security have been conveyed.”

India, which continues to source discounted oil from Russia amid geopolitical tensions, is wary of being caught in the crosshairs of US sanctions or trade penalties.

Trade talks near key deadline

Meanwhile, US-India trade negotiations are in their final stages, with both sides working toward a deal before the July 9 deadline when suspended US tariffs of up to 26% on Indian goods could be reimposed.

The proposed deal aims to raise bilateral trade from the current $191 billion to $500 billion by 2030. India is seeking tariff relief for its labour-intensive exports, while the US is pushing for wider access to Indian agricultural and industrial markets.

However, key sticking points remain, especially regarding US demands for access to India’s sensitive agriculture and dairy sectors. Indian officials have signalled caution, citing domestic political and economic sensitivities.