Ahmedabad (Gujarat) [India], April 7 (ANI): Shashi Tharoor on Monday expressed concerns over the impact of US tariffs on India's economy and emphasised the need for effective bilateral trade agreements, and called the situation 'quite negative.'

'It is a very concerning issue. You know that there is a lot of hope that the bilateral talks with the United States will bring some assurances and relief, but as of now, in the short term, the situation is quite negative,' he stated.

He emphasised that the global market has been severely affected, saying, 'The global market is bad, not just in India but across the world. As you said, prices are also rising, and nobody understands Trump's tariffs and what they mean.'

Tharoor further elaborated on the financial implications of the tariffs, stating, 'I think we have lost two trillion dollars in almost two days.'

He also noted the broader economic impact, explaining that while India may avoid a recession, the global situation remains grim.

'It is not that our country can do something alone that no one else can do. But it certainly seems that some countries will go into recession. We were better off because we had a 5.4 per cent growth, it may come down, but it may not go into recession,' he said.

However, Tharoor stressed that India must engage in effective negotiations with the US to mitigate the damage.

'What we will have to do is ensure that we can quickly negotiate an effective bilateral trade agreement. Which might reduce the impact of all this on our economy, on our exports,' he said.

He also hinted at the possibility of leveraging the tariffs imposed on other countries that export similar goods to America, explaining, 'Some countries which are also exporting similar goods to America have had higher tariffs imposed upon them. And that might be a difference we could leverage to our advantage. But we will have to see. At this stage, it is impossible to tell.'

Tharoor expressed frustration with the unpredictability of the situation.

He said, 'No one could have foreseen such bad news in 2-3 days. It was 2nd of April that the tariffs were announced. Today is the 7th and in five days the world has suffered so much. God knows what lies ahead. But all we can do is tighten our belts and see how best we can cope with all of this.'

In addition to his comments on the tariffs, Tharoor also addressed the upcoming Congress Working Committee (CWC) meeting and All India Congress Committee (AICC) session, which are scheduled for April 8 and 9 in Ahmedabad.

Reflecting on the significance of these meetings, Tharoor noted, 'This is a very important conference for us. Mahatma Gandhi ji became the President of Congress 100 years ago, and that was a historic event. Another thing is, we all know that this year marks the 150th birthday of Sardar Patel, so it's also a very significant event in the history of Congress and the country.'

Tharoor also mentioned that the CWC and AICC sessions would provide an opportunity for the party to discuss the future direction of the country.

He said, 'So, keeping both these things in mind, we are coming to Ahmedabad. Tomorrow, there is a meeting of the Working Committee, and the day after tomorrow, you know that the entire AICC, over 1,200 people, will sit together and have discussions. After the meeting, we will know what is said, what is discussed. But I think all of us want to hear about how we should move forward with the country's work. All political parties are working on this, and what strategies should be adopted to move the country forward. Our leadership should focus on these aspects. We should also listen to other leaders and ask them what they think.' (ANI)