New Delhi, April 11 -- US trade policies are hurting European economies, making it vital to deepen innovation-led partnerships with fast-growing economies like India, Austrian finance minister Markus Marterbauer said on Friday.

The statement came after Marterbauer and state secretary in the finance ministry Barbara Eibinger-Miedl met visiting finance minister Nirmala Sitharaman in Vienna to discuss strengthening economic and financial cooperation between the two countries.

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"The customs and trade policy of theUSAis having a negative impact on the European and Austrian economies. This makes it all the more important to strengthen economic cooperation with...