US Treasury Secy Scott Bessent said that at the end of the day, the two great countries will get the tariff issue solved

PTI New Delhi

Amid concerns over the impact of a 50 per cent US tariff on Indian products, Union Ports  Shipping and Waterways Minister Sarbananda Sonowal on Friday claimed that there has been no reduction in overall cargo shipments from India. Almost 90 per cent of India's foreign trade in terms of volume and 70 per cent of India's foreign trade by value is transported through sea routes. 

"We have not seen a reduction in overall cargo shipments from India," Sonowal told PTI when asked to comment on the impact of a 50 per cent steep tariff imposed by Washington on Indian goods entering the US.India and the US have been negotiating a bilateral trade agreement (BTA) since March. So far, five rounds of talks have been completed.

After a 50 per cent duty was imposed on August 27, the US team has deferred its visit to India for the next round of talks, which was scheduled from August 25.No new dates have been finalised for the sixth round of negotiations.

Amid tensions between India and the US, Treasury Secretary Scott Bessent said that at the end of the day, the two great countries will get this solved. Delhi's values are much closer to ours and to China's than to Russia's.

During April-July, the country's exports to the US increased 21.64 per cent to USD 33.53 billion, while imports rose 12.33 per cent to USD 17.41 billion, according to commerce ministry data.

The US was the largest trading partner of India in the April-July 2025-26 period (USD 12.56 billion bilateral trade). India's exports to America have been recording a positive growth since April this year.