New Delhi, February 27 – Commerce and Industry Minister Piyush Goyal has signaled India’s firm resolve to protect its economic interests in the proposed trade agreement with the United States, especially as the landscape shifts following the US Supreme Court’s decision to overturn tariff hikes announced by the Trump administration.
Speaking at a media event on Friday, Goyal emphasized that India will closely monitor evolving US tariff policies and recalibrate the bilateral trade deal if necessary. ‘The situation regarding US tariffs is fluid,’ he stated. ‘We will keep a watchful eye and ensure India’s interests are fully secured.’
He highlighted the dynamic nature of negotiations, noting that while the Trump administration has made certain declarations, other measures remain possible, including potential tariff increases to 15 percent next week. ‘Circumstances are changing rapidly. If needed, we will rebalance the agreement to reflect these developments,’ Goyal affirmed, referencing the joint India-US statement that allows for such adjustments.
Goyal expressed optimism about the deal’s prospects, pointing to its positive elements and competitive advantages. Crucially, he reassured that sensitive sectors like dairy and agriculture would remain protected under the proposed framework. Despite global headwinds, India’s exports are poised for growth this year, he added.
In response to the Supreme Court ruling, both nations have rescheduled official talks originally set for February 23 in the US. The three-day meeting, led by chief trade negotiators, will now address the implications of the court’s decision nullifying the tariff escalations. A mutually convenient new date is forthcoming, underscoring both sides’ commitment to constructive dialogue amid uncertainties.