India, EU to step up trade talks after US imposes reciprocal tariffs

The geopolitical uncertainties are forcing European nations to scout for new markets, including India, considering it is one of the fastest-growing large economies

India and the European Union (EU) intend to step up discussions on bilateral trade amid Washington’s decision to impose 26 per cent and 20 per cent reciprocal tariffs on New Delhi and the trade bloc, respectively.

 

Commerce and Industry minister Piyush Goyal and Commissioner of the European Commission for Trade and Economic Security, Maroš Šefčovič, are expected to hold talks over the next few days.

 

“Both ministers are likely to talk over phone over the coming days or at the earliest opportunity,” a person aware of the matter told Business Standard.

 

The US decision to impose reciprocal tariffs on its