India said on Thursday it was studying the impact of the 27% tariff slapped by the U.S. on its imports and vowed to push for a trade deal this year, signalling a conciliatory tone despite failing to get relief from President Donald Trump's trade policy.

Just days prior to the implementation of the 26 per cent reciprocal tariffs on India by the US administration under President Donald Trump, a conversation took place between External Affairs Minister S Jaishankar and US Secretary of State Marco Rubio.

India does not plan to take retaliatory actions against President Trump's tariffs. Negotiations between the two countries are ongoing, reports Reuters. A government official stated that Prime Minister Narendra Modi's administration has examined a provision in US President Donald Trump’s executive order on tariffs.