India’s relationship with the US is in an “uneasy equilibrium” as trade disputes between the partners persist, a senior govt official said. “There is this issue of unsettled relationship with the US, starting from the tariff-related issues last year, which are still continuing,” chief economic adviser V Anantha Nageswaran said in a speech at SBI’s banking and economics conclave in Mumbai on Thursday.New Delhi faces a fresh tariff threat even after reaching an interim trade deal with Washington earlier this year. A new US law gives President Donald Trump the power to impose levies of as much as 100% on countries that buy Russian oil and gas, adding uncertainty as India and the US negotiate a final tariff rate. Nageswaran said the trade and energy pressures facing India may also reflect a broader push to choose between rival global blocs. “India, given its geography and its size, cannot obviously belong to any bloc,” Nageswaran said, adding that maintaining its independence could come at cost of higher energy prices and periodic supply disruptions. bloomberg
