Goa, April 8 -- In the wake of President Donald Trump's recent announcement of a sweeping 10% baseline tariff on all U.S. imports, which has escalated market instability and raised alarms among key allies, India and the United States are intensifying efforts to address the fallout. The new tariffs, which include a hefty 26% rate on Indian imports, have sparked a flurry of diplomatic talks aimed at mitigating their impact on trade relations.

On Monday, India's External Affairs Minister S. Jaishankar and U.S. Secretary of State Marco Rubio held a critical phone conversation to discuss the effects of these newly imposed tariffs on Indian exports and explore avenues for a "fair and balanced trade relationship." According to a statement from ...