The European Union wants India to eliminate tariffs on car imports under a long-pending trade deal and Prime Minister Narendra Modi's government is willing to sweeten its current proposal to seal the talks,

Trump's tariffs on Asian nations offer India a competitive edge in US exports, especially in textiles, electronics, and toys. Experts say India can benefit from supply chain shifts if it boosts ease of business and infrastructure.

As President Donald Trump was sworn in for a second term, Indian officials put a plan in motion to sidestep his promised trade war — launching high-level trade talks with their American counterparts,

The announcement of reciprocal tariffs is likely to open up fresh rounds of bilateral tariff negotiations and unilateral actions. This may also result in re-alignment of supply chains which were thus far reliant on rule-based trade under WTO.

Jaishankar and Rubio also discussed the importance of concluding the BTA early, as tweeted by the foreign minister.

But he also threatened to raise cumulative tariffs on China to over 100% — a move that could lead to massive price increases for US shoppers for iPhones, computers and toys. He also implied that the America’s erstwhile friends in the European Union were such implacable foes that there can never be a fair deal.

Trump said on Truth Social he would impose the new tariffs on China if Beijing did not retract a 34% retaliatory tariff on U.S. goods that it announced in response to Trump's initial salvo last Wednesday.

The US president says he will introduce the additional tariff unless China withdraws its own 34% counter-tariff on American goods.

U.S. President Donald Trump threatened to further increase tariffs on China on Monday, raising the possibility of further escalation in a trade war that has already wiped trillions of dollars from global markets.

The higher rates are set to be collected beginning Wednesday, ushering in a new era of economic uncertainty with no clear end in sight.

President Donald Trump says he's considering additional tariffs on China. The Republican president's threat came Monday after Beijing retaliated against his announcement of tariffs last week.