US President Donald Trump’s announcement of a 25 per cent tariff on Indian imports, along with a penalty for procuring energy and military equipment from Russia, is a shocker at first sight. But, it also presents a moment for India to seize the initiative and do what is right without losing any more time. A free trade agreement that allows greater access for Indian products to the world’s largest market and, at the same time, opens up its economy to American goods and services, is a win-win for both sides. India’s exports to the US, at $86.5 billion in 2024-25 (April-March), were higher than those to any other country. Imports from the US, at $45.7 billion, were below only those from China........

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