Arun Venkataraman’s commentary was included in a Law 360 article on trade negotiations between the U.S and India as the U.S. weighs the placement of a potential 50 percent tariff on Indian imports.
Arun highlighted the fact the U.S. has been India's largest export market, making their economy's exposure to the new tariffs highly significant. He said that while additional relief could be possible for the tariffs on Indian goods "as the administration learns more about the adverse impacts in discrete areas from affected companies," importers should not count on those kinds of breaks.
Arun added that on top of the relationship between the countries' leaders, the U.S. and India have strengthened ties over the past two decades across political parties.
"The depth of this partnership transcends political parties in both countries and reflects a recognition that both countries increasingly look to each other to achieve both their shared and individual objectives, including the need to counter the economic and strategic threat that China poses," Arun said. He noted that Modi may face political difficulty in meeting U.S. trade desires, such as reducing India's tariffs on agricultural imports or ending purchases of Russian oil and arms, but added he was hopeful negotiations will at least continue, given "the solid foundation of long-term shared interests."
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