India and US Close to Interim Trade Pact as Jaishankar Meets Rubio in Manila
India and the United States are on the verge of finalising an interim trade agreement, according to US officials, after External Affairs Minister S Jaishankar met US Secretary of State Marco Rubio on the sidelines of the ASEAN and East Asia summits in Manila on Wednesday.
The meeting, described as productive by both sides, focused on key areas of the Comprehensive Global Strategic Partnership, including trade and tariffs, energy, defence and security, critical minerals, and artificial intelligence. Jaishankar later posted on social media platform X: 'Pleased to meet @SecRubio of the USA here in Manila. Our meeting focused on areas which are priority for the Comprehensive Global Strategic Partnership, including trade & tariffs, energy, defence & security, critical minerals & artificial intelligence.'
US officials said the interim trade deal is 'almost complete' and signalled that Secretary Rubio is likely to visit India before the end of this year. The officials spoke on condition of anonymity as they were not authorised to discuss the matter publicly.
Jaishankar also noted that he and Rubio exchanged 'quick perspectives on regional, global and multilateral issues of mutual interest', specifically referring to the ongoing conflicts in West Asia and Ukraine. The two leaders emphasised the importance of continued dialogue and cooperation on these matters.
The meeting in Manila underscores the deepening strategic partnership between India and the US, which has expanded significantly in recent years. The interim trade deal is expected to address outstanding tariff and market access issues, paving the way for a more comprehensive bilateral trade agreement in the future.
Both nations have been working to strengthen economic ties, with trade between them crossing USD 190 billion in the last financial year. The defence partnership has also grown, with joint military exercises and technology sharing agreements. The focus on critical minerals and artificial intelligence highlights new areas of collaboration amid global supply chain realignments.
No timeline for the finalisation of the trade deal was provided, but officials expressed optimism that an announcement could come soon.
