Jaishankar: US industrial policy signals deep structural realignment

The transition from Donald Trump’s initial trade maneuvers to Joe Biden’s continuation of those policies serves as a clear indicator of a changing American consensus. Historically, the United States maintained a deep skepticism toward state-led industrial planning. Its recent embrace of such measures suggests a fundamental movement in how the U.S. views its own economic interests and strategic autonomy.

While analysts often focus on the behavioral nuances of specific administrations, Jaishankar argued that the underlying systemic trends are far more significant. This observation comes as India and the U.S. navigate the final stages of a bilateral trade agreement. U.S. Trade Representative Jamieson Greer confirmed that negotiators are in the final stretch, though a deal is not yet imminent. Greer met with Commerce Minister Piyush Goyal in Milwaukee to address the remaining sticking points, following a constructive call between Prime Minister Narendra Modi and President Trump.

Despite Goyal previously describing the deal as "done and dusted" in September, shifting tariff landscapes have complicated the timeline. Both nations are now working to secure a mutually beneficial interim agreement that provides India with a competitive edge over regional rivals like China and Bangladesh.