There has to be an understanding that our fundamental principles and "red lines" must be respected.
"There has got to be a trade understanding with US. But... in any agreement, there are things you can negotiate and things you can't," Jaishankar said.
Jaishankar acknowledged existing trade frictions between the two countries, citing the absence of a comprehensive trade deal as a key factor.
"Today we have issues with the United States. A big part of it is the fact that we have not arrived at a landing ground for our trade discussions, and the inability so far to reach there has led to a certain tariff being levied on India," the minister said.
The minister also criticised what he described as very unfair” secondary tariffs linked to India’s energy purchases from Russia.
"In addition, there is a second tariff, which, you know, we have publicly said, we regard it as very unfair, which has picked on us sourcing energy from Russia. And of course, there are other countries who have done so including countries who right now have a far more antagonistic relationship with Russia than we do," Jaishankar said.
Tensions escalated after the US imposed an additional 25% tariff on Indian goods on August 6, citing India’s purchases of Russian oil and petroleum products. By late August, American tariffs on Indian imports and services had increased to 50%. Official New Delhi has called these measures "unjust and discriminatory."