China and India Near US Reciprocal Tariffs... "Willing to Expand Purchases of Indian Goods"

Xu Feihong, Chinese Ambassador to India
Remarks in Interview Marking 75th Anniversary of China-India Diplomatic Relations
India Likely to Become Target of U.S. Reciprocal Tariffs

Chinese President Xi Jinping (right) and Indian Prime Minister Narendra Modi are meeting at the 'BRICS Summit' held in Kazan, Russia, on October 23 last year. / Reuters, China Daily, Yonhap News

Ahead of U.S. President Donald Trump's announcement on reciprocal tariffs, Chinese Ambassador to India Xu Feihong stated that China is willing to purchase more Indian products to balance trade, according to a report by U.S. Bloomberg News on the 1st (local time).

In an interview with China's state-run English media Global Times, Ambassador Xu said, "We are willing to cooperate with India to strengthen substantial cooperation in trade and other areas and to import more Indian products suitable for the Chinese market."

According to the Indian Ministry of Commerce, the bilateral trade volume between India and China for 2023-24 reached $101.7 billion (approximately 149 trillion KRW), with India recording a significant deficit. India's main exports include petroleum, iron ore, seafood, and vegetable oils, totaling $16.6 billion (approximately 24 trillion KRW).

The interview with Ambassador Xu was conducted on the occasion of the 75th anniversary of diplomatic relations between China and India. Although relations between China and India were strained due to military clashes in the Ladakh region, a border dispute area, in 2020, Chinese President Xi Jinping and Indian Prime Minister Narendra Modi held talks at last year's BRICS summit, creating an opportunity to improve relations.

India is considered likely to become a target of U.S. reciprocal tariffs. White House spokesperson Karoline Leavitt pointed out to reporters on the 31st of last month, "India imposes a 100% tariff on U.S. agricultural products." She also criticized the tariff rates of the European Union (EU), Japan, and Canada, stating, "It is virtually impossible for U.S. products to be imported into these markets."

Although India recently significantly reduced tariffs on U.S. products such as textiles and motorcycles, Bloomberg reported that the U.S. has demanded more concessions from India in various sectors, including agriculture.