External Affairs Minister S Jaishankar said Wednesday that the impact of US President Donald Trump’s reciprocal tariffs, effective April 9, remains unclear, but India’s strategy is to secure a bilateral trade agreement (BTA) with Washington by fall 2025.

Speaking at the News 18 Rising Bharat Summit, he highlighted India’s unique position as the only nation to reach an in-principle trade understanding with the US since Trump’s second term began.

Jaishankar’s remarks followed the rollout of Trump’s sweeping tariffs targeting India and four other countries, sparking fears of a global economic downturn. “We don’t know the full impact yet, but our plan is clear,” he said, noting India engaged the Trump administration early and constructively. The BTA talks, greenlit after February’s Modi-Trump meeting in Washington, aim to finalize the first phase by autumn.

Unlike the Biden era’s focus on the Indo-Pacific Economic Framework (IPEF), Jaishankar said a bilateral deal aligns with India’s long-term goals—efforts stalled under Trump’s first term. “This has been our objective,” he stressed, suggesting the current crisis might fast-track negotiations. Every nation is now crafting its response to US policy, he added, with India betting on a trade pact to navigate the storm.

Beyond the US, Jaishankar expressed confidence in accelerating free trade talks with Europe and the UK, targeting an FTA closure this year. As Trump’s tariffs disrupt global markets, India’s cautious yet proactive stance underscores its ambition to turn uncertainty into opportunity.