Marco Rubio Says India-US Trade Pact Designed To Be 'Beneficial' And 'Sustainable' For Both Sides

(MENAFN- Live Mint) New Delhi and Washington are on the verge of finalizing a highly anticipated trade pact designed to be "beneficial" and "sustainable" for both sides, US Secretary of State Marco Rubio announced Sunday. He emphasized that the broader strategic partnership is on a definitive upward trajectory.

Currently undertaking a four-day official visit to India, Rubio shared these insights following comprehensive discussions with External Affairs Minister S Jaishankar. Their dialogue centered on accelerating bilateral cooperation across key sectors, including commerce, critical minerals, energy, and defense.

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This inaugural trip by the top US diplomat is widely interpreted as an effort to mend ties, which faced notable friction over the past year due to Washington's aggressive trade and tariff stances.

"We've made tremendous progress, and I think we're going to wind up with a trade agreement between the US and India that is going to be enduring and is going to be beneficial to both sides and sustainable in a way that addresses national interests that we have," Rubio said at a joint media briefing with Jaishankar.

Defending his government's position, Rubio maintained that the Trump administration's economic strategy is intended to restructure America's global trade framework rather than target any particular nation.

"This is about the United States in terms of trade. The President did not say: 'Let's figure out a way to create friction with India over trade'. The President came in and said: 'We have a trade situation involving the US economy that doesn't work moving forward'," he said.

"There's a huge imbalance that's built up, and it needs to be addressed. He pursued it from a global perspective," Rubio said.

He noted that trade friction is a near-universal theme in his international travels, pointing out that Washington has faced similar economic disputes with traditional allies like the European Union.

The Secretary of State said: "The President said we have to rebalance US trade. This is not about India."

According to Rubio, an American trade delegation will travel to India "very soon" to finalize the upcoming agreement.

"The difference is that India is a massive economy. This is a big economy where you're the leading trade partner. We do a lot of trade with India, and so obviously, there's a big difference between rebalancing trade with a country of this size and magnitude," he said.

"The good news is that through this rebalancing, we are ultimately seeking and believe we will arrive at trade arrangements around the world that are good for the United States, but also good for our trade partners," he added.

Jaishankar outlines QUAD's strong Indo-Pacific trajectory

Prior to the upcoming Quad Foreign Ministers' Meeting in New Delhi on May 26, Jaishankar emphasized that the Indo-Pacific region is evolving into a vital global energy corridor. He noted that the participating delegates will showcase a "good story to tell" following their consultations.

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Speaking at the joint media briefing, Jaishankar pointed out that the strategic group was revitalized under its current structure during Donald Trump's initial presidential term. He added that the Quad framework has been a central topic since the start of his talks with Rubio, highlighting significant avenues for bilateral economic and energy expansion.

"Looking ahead, the Indo-Pacific is going to become more and more important with the passage of time. It will even become a big energy lifeline," he said.

He added, "The work on Quad goes on and two days from now you will see us on the podium talking about the Quad. I can assure you we will have a good strong story to tell."

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