Name: U.S.-India trade talk troubles: Heres what you need to know
Uploaded: 2025-10-28T23:22:27.771Z
Duration: 2 min 8 s
Description: Trade talks continue to break down between the U.S. and India. As world leaders rush to get a meeting with President Donald Trump at the ASEAN summit, Indian prime minister Narendra Modi has skipped the meeting altogether.

Trade talks continue to break down between the U.S. and India. As world leaders rush to get a meeting with President Donald Trump at the ASEAN summit, Indian prime minister Narendra Modi has skipped the meeting altogether.

Kuala Lumpur

Donald Trump has signed an order to impose tariffs imports into the U.S. from countries including China, Mexico and Canada.

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Trade talks between the United States and India have stalled, with oil imports emerging as the primary obstacle. India's increased purchases of discounted Russian oil following the invasion of Ukraine, combined with new U.S. tariffs on Russian oil, have complicated negotiations. Prime Minister Modi's absence from a major Asian summit attended by other leaders, including President Trump, signals ongoing difficulties in finalizing a trade agreement.

The U.S. has imposed a 50% tariff on Indian goods, adding pressure to India's economy and contributing to its underperformance compared to other emerging markets. Investors are becoming more selective, and experts suggest that resolving the oil issue is key to moving forward with a trade deal. Both nations are seeking a delicate balance between their respective economic and diplomatic interests.

U.S.-India trade talk troubles: Here's what you need to know

Welcome back to Overtime. President Trump is hoping to sign trade deals with several major Asian countries, including Japan, during his trip to the region this week. But one major country appears to be getting shut out of trade talks. Seema Modi joins us now. She has the details. Hi, Seema. Morgan, foreign policy experts agree that India should be the linchpin of President Trump's Asia visit. Two largest democracies in the world, billions of dollars invested by hyperscalers in the country, and yet trade talks continue to break down. I'm hearing that Prime Minister Modi's decision to skip the Asian summit in Kuala Lumpur, where other heads of state are convening to meet Trump, signals that both nations are still not close to finalizing a deal. And the biggest hold-up I'm hearing is oil. India has increased imports of discounted Russian oil after Russia invaded Ukraine. The Trump administration, their new tariffs on Russian oil is forcing the country to scale back its purchases at a much faster pace than they initially planned. Cooling tensions between the two nations are now forcing investors to be more selective on where they're putting money to work overseas. Take a look at this. You're seeing China rebound, Japan and Argentina at new highs, and India, while higher on the year, it's still considerably trailing its peers. Now, we spoke to UBS's CIO of Emerging Markets, who says that the 50% U.S. tariff put on India is putting considerable pressure on India's economy. Right now, they're expecting a deal to come together, but for now, they're more bullish on Chinese tech. Morgan. Hmm. So, what do you think it's gonna take? Is it really just oil? That's the crux of this breakdown in trade talks between the two countries. And if that's the case, do you need to get the Europeans on board to move past that? It's a great point. Oil really seems to be the big hiccup here in not allowing both sides to move forward on finalizing a trade deal. You know, Russia has been a great friend to India for so many years. They've been the biggest, second biggest buyer of oil over the last two years. And it takes time to figure out how much they can scale back, at what percentage, and to ensure they're not alienating the Russians, but also not, you know, not also distancing themselves from President Trump. So, it's a delicate balance, and they're hoping in the next coming months to get some type of deal. But in the meantime, that short-term impact of tariffs certainly hits. All right, Seema Modi. Thank you.

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U.S.-India trade talk troubles: Here's what you need to know

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