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Aug 16, 12:24 PM
EAM Jaishankar and FM Cho Hyun Discuss Cooperation Amid US 25% India Tariffs and Putin’s 20% US-Russia Trade Increase
India
US Foreign Policy
Economics
Politics
Business
World

EAM Jaishankar and FM Cho Hyun Discuss Cooperation Amid US 25% India Tariffs and Putin’s 20% US-Russia Trade Increase

Authors
  • ANI
  • Sidhant Sibal
  • Eric Daugherty
5

Indian External Affairs Minister Dr. S. Jaishankar met with South Korean Foreign Minister Cho Hyun in Delhi to discuss enhancing bilateral cooperation across various sectors including trade, manufacturing, maritime affairs, people-to-people exchanges, artificial intelligence, semiconductors, and clean energy. Cho Hyun expressed condolences for the recent flooding in Kashmir and reaffirmed South Korea's strong stance against terrorism, specifically condemning the Pahalgam terror attack. On global trade issues, Cho acknowledged the challenges posed by US tariffs imposed by President Donald Trump, describing them as an expected development amid rapidly changing trade dynamics. He highlighted that South Korea and India managed to resolve certain trade issues to achieve mutually beneficial outcomes. Regarding the recent meeting between Russian President Vladimir Putin and US President Donald Trump, Cho stated it was too early to assess the results but expressed hope it would mark a positive step forward. Following the Trump-Putin meeting, President Trump indicated he does not currently see the need to increase tariffs on China, a major buyer of Russian oil, suggesting progress in trade relations. Former diplomat Veena Sikri noted ongoing discussions about the future of US tariffs on India, implying potential understanding between the US and Russia. Meanwhile, Russian President Putin reported a 20% increase in US-Russia trade since Trump’s return to power, despite the US imposing 50% tariffs on Indian imports of Russian crude oil, highlighting a perceived inconsistency in US foreign trade policy. The recent 25% tariff imposed by Trump on Indian and Russian crude oil imports signals a shift in the US approach toward Russia.

Written with ChatGPT (GPT-4).

Additional media

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