During the India Today Conclave 2025, U.S. Commerce Secretary Howard Latnik expressed concern over India's defense trade with Russia and the proposed alternative currency by the BRICS nations. He emphasized that India should halt its arms purchases from Russia.
Latnik explained how India's purchase of arms from Russia and involvement in the BRICS (Brazil, Russia, India, China, and South Africa) alliance, which suggested an alternative to the US dollar, influences India's relationship with Washington.
In conversation with Rahul Kanwal, Director of India Today TV, Latnik stated, "India is the 'I' in BRICS, trying to create a currency that could replace the US dollar as the global economic currency. These actions do not foster the affection we deeply hold for India. The Trump administration aimed to see more balanced trade relations between the US and India, forging a robust and influential partnership."
Latnik stressed the need to end India's historical defense ties with Russia, noting, "Historically, India has made significant military procurements from Russia, and we believe this relationship needs to end."
Additionally, he reiterated that India imposes some of the highest tariffs on American goods. Latnik urged India to substantially reduce tariffs, facilitating US access to the Indian market and equitable trade between the two nations.
When queried about whether reducing tariffs on agricultural products might politically harm Prime Minister Narendra Modi's administration, Latnik said, 'India's agricultural market needs to open up. You must do smart business. This is not the way business is done. India should lower its tariffs and let America enter its markets. It’s time to think big, as simply reducing tariffs on a few products won't suffice. Smart trading is essential.'
