No mention of trade during India-Pakistan ceasefire talks, say govt sources about Trump’s remark

Trade was not discussed during separate conversations between Prime Minister Narendra Modi and US Vice President JD Vance and External Affairs Minister S Jaishankar and Secretary of State Marco Rubio amid tensions between India and Pakistan, government sources told India Today TV on Monday. The development came hours after US President Donald Trump, who helped broker a ceasefire between India and Pakistan, claimed that both countries would not trade with the US if they did not de-escalate. 

After the commencement of Operation Sindoor, which targeted terror camps in Pakistan and Pakistan-Occupied Kashmir (POK), Vance spoke to PM Modi on May 9 while Rubio had a conversation with Jaishankar and National Security Advisor Ajit Doval the next day, according to government sources. There was no reference to trade in any of these discussions, they said. 

The US is India’s largest trading partner, with bilateral trade totalling $129.2 billion in 2024.  On the other hand, the US’ total trade with Pakistan was an estimated $7.3 billion last year. Earlier in the day, Trump said that the US "will do a lot of trade" with India and Pakistan, adding that while talks with New Delhi were ongoing, negotiations with Islamabad would start soon. 

Trump took credit for stopping what he called a potential nuclear war between India and Pakistan, saying his administration brokered a "full and immediate ceasefire" between the two countries. His remarks came after he announced a ceasefire between India and Pakistan, even before the countries commented on the matter.  However, India refrained from using the term ‘ceasefire’. Soon after, the government held a press briefing and said that India and Pakistan agreed to stop firing and cease military action from 5 pm today.  

India stressed that the understanding was worked out "directly between the two countries". Foreign Secretary Vikram Misri said the DGMO (Director General of Military Operations) of Pakistan called up his Indian counterpart and both sides agreed to stop all firing and military action from land, air and sea from 5 pm onwards. Both countries held DGMO-level talks at 5 pm on Monday and agreed to take immediate measures to ensure the reduction of troops along the borders and forward areas, according to a statement. 

They discussed the commitment that both sides must not fire a single shot or initiate any aggressive and inimical action against each other, the statement said.