India is expected to maintain its position on energy security as the United States and China extend their trade tariff truce until January 10, 2027. The issue is likely to feature in Commerce and Industry Minister Piyush Goyal’s discussions with US officials during the G20 Trade Ministers’ meeting in Milwaukee next week.
The discussions come as new US legislation allows the US President to impose tariffs of up to 100% on major buyers of Russian energy. India has emerged as a key focus of the legislation, while China has received temporary relief under the extended trade arrangement.
Trade experts said India should continue to protect its energy security while addressing concerns raised by Washington. Ajay Srivastava of the Global Trade and Research Initiative said the US-China truce has increased the focus on India under the new sanctions framework.
India’s Ministry of External Affairs has stated that the country will continue to protect its national interests and maintain energy security through diversified sources of supply. The ministry has also warned that the US legislation could affect bilateral relations and global energy markets.
The issue may also be discussed alongside negotiations for the India-US bilateral trade agreement. Trade expert Abhijit Das said India should communicate its concerns clearly and prepare measures to protect its interests if additional tariffs are imposed.
External Affairs Minister S. Jaishankar has also raised India’s concerns over the Russian sanctions legislation during discussions with US Secretary of State Marco Rubio.
No comments yet. Be the first to share your thoughts!