Amid swirling uncertainties in US trade policy, India’s Commerce Minister Piyush Goyal vowed on Friday to recalibrate the impending trade deal with Washington to shield national priorities, following a pivotal US Supreme Court verdict striking down Trump-era tariff impositions.
In a candid address during a press interaction in New Delhi, Goyal outlined India’s proactive stance. ‘US tariff dynamics are in flux post the court’s intervention. We’re tracking every move and will safeguard our stakes accordingly,’ he declared.
Delving deeper, the minister cautioned against complacency, as the Trump team could deploy alternative strategies like a 10 percent tariff levy or escalate to 15 percent imminently. Echoing the bilateral joint declaration, Goyal reiterated readiness to restore equilibrium in the agreement should conditions warrant. Bilateral trade discussions persist unabated, he noted.
Optimism tempered with realism defined Goyal’s outlook. The deal harbors ‘several favorable aspects,’ particularly in fostering competitive edges internationally. Protections for vulnerable dairy and farming sectors stand firm, a key win for India. On a brighter note, Goyal projected robust export expansion for India this fiscal year, defying worldwide challenges.
Reflecting the ruling’s ripple effects, India and the US have postponed their interim trade conclave, initially slated for a three-day session starting February 23. Top negotiators will reconvene at a later, suitable juncture to dissect the tariff reversal’s fallout and steer the pact forward.