In an interview with CNBC-TV18, she stressed that negotiations must extend beyond tariff reductions to include digital trade and services to ensure lasting economic benefits.
Bliss pointed out that key issues such as data flow restrictions, localisation barriers, and fair access to financial services remain major roadblocks. “We believe such a deal is crucial to strengthening the US-India relationship—both geopolitically and commercially,” she said. While both nations have been engaged in intensive trade negotiations, significant hurdles remain.
The broader economic impact of recent tariff policies has also raised concerns about potential inflation and recession. While the Trump administration aims to encourage US businesses to reshore operations, Bliss cautioned that tariffs could have unintended consequences. “What seems to have been downplayed or ignored are the recessionary and inflationary impacts they could have the longer they are in place. That is very concerning,” she said.
The imposition of high retaliatory tariffs by Canada and China, combined with potential trade actions from the EU, has further complicated business relationships. Some US service companies, especially those with manufacturing operations, are already feeling the impact of tariffs on goods. “It’s not clear to what degree they will directly impact services, but it’s something we’re very concerned about,” Bliss noted.
Supply chain disruptions have become another pressing issue, with the semiconductor and logistics industries particularly affected. The removal of the de minimis exception for low-value goods from China—and potentially all other nations in the future—is expected to add further costs, especially for small businesses.
The broader uncertainty created by tariffs could also deter foreign investment in the US, affecting employment and economic growth. “We’re concerned about whether this will chill investment in the United States, which is a very important source of employment,” Bliss warned.
Watch accompanying video for entire conversation.
