Jaishankar seeks stronger India-EU, India-Germany trade ties amid Trump tariff row

External Affairs Minister S Jaishankar on Wednesday (September 3), in an apparent reference to US President Donald Trump’s tariffs on trading partners, said that given the “volatility on the global economic landscape”, there is a strong case for India working more closely with the European Union (EU) and Germany. He also said that the world was witnessing significant and far-reaching changes in the global strategic landscape. He made the remarks following a meeting with his German counterpart, Johann Wadephul.

Bats for stronger India-EU ties

Jaishankar’s comment comes at a time when India’s relations with the US have nosedived following Trump’s decision to slap a 50 per cent tariff on Indi,a out of which 25 per cent is for New Delhi’s purchase of Russian Oil, which the US President has alleged was funding Russia’s war in Ukraine.

“We're also seeing a lot of volatility on the global economic landscape, and I think together they make a very powerful case for India and the European Union and India and Germany to work much more closely with each other. This is a relationship where there are considerable possibilities for fairly rapid growth,” said Jaishankar as quoted by ANI.

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‘Both countries should lower tariffs’

Jaishankar also said that it was in the mutual interest of both countries to lower tariffs and expand bilateral trade and economic cooperation, adding that given the current situation, the efforts acquire a greater urgency.

“Our conversations and our negotiations predate anything which has happened this year...It's in our mutual interest that we lower tariffs and find other ways of expanding our business and economic cooperation. Obviously, in today's climate, those efforts acquire a greater urgency. I share the Minister's desire and optimism that we would like the FTA negotiations, another round, to take place fairly soon,” said Jaishankar.

Also Read: Jaishankar to US on Russian oil: Don’t like it? Don’t buy it

On Indo-German FTA talks

Elaborating further, Jaishankar said that the proposed FTA would “help stabilise” the global economy, adding that it would be one of the elements of ballast which the global economy “really needs” today.

“Our two-way trade last year was almost 50 billion euros. German Foreign Minister Johann Wadephul, in one of his interviews, said that he was very confident that we would be doubling our trade. Let me assure him that India fully reciprocates that sentiment. It looks forward to working with the German government,” said Jaishankar.

“I want to reiterate that we remain fully committed to continuously improving the ease of doing business in this country, and I assured the minister today that any concerns that German companies may have in India, coming to India, establishing themselves, working here, we would be prepared to give it special attention,” he added.

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Raises Ariha Shah case

Jaishankar also said that he had raised the issue of Ariha Shah, an Indian child who's been in the foster care of German authorities for some time, with Wadephul adding that it is essential that her cultural rights are ensured.

"On consular issues, I should mention that I raised the issue of Ariha Shah, an Indian child who's been in the foster care of German authorities for some time. I emphasised to the minister that it is essential that her cultural rights are ensured and she grows up in Indian surroundings. So this matter needs to be resolved without further delay. And I think we've had some discussions today on that subject,” he added.