India-US trade deal can be rebalanced if circumstances change, Commerce and Industry Minister Piyush Goyal has said. He made it clear that India will fully protect its economic interests amid the changing tariff signals. Speaking on Friday, Piyush Goyal said that the proposed trade agreement with America will be rebalanced if necessary.
He said that the global trade situation is constantly changing and different statements and steps are coming from the US side. He said, the situation is constantly changing. The Trump administration can take many steps. Next week the tariff may also be increased by 15%. Negotiations are ongoing and if circumstances change the agreement will be rebalanced. Goyal said these things. He told that it has also been said in the joint statement of India and America that the agreement can be changed if the circumstances change.
Wait and watch stance on US tariffs
The minister said that India is in constant talks with America. He said that for the time being, a wait and watch strategy will be adopted on America’s tariff decisions, but India’s interests will be fully protected. He also said that the Trump administration has several policy options, including steps like increasing tariffs by 10%.
India’s exports expected to increase
Despite challenges in global trade, Goyal expressed confidence that India’s exports can increase this year. He said that there are many positive aspects in the deal with America and the purpose of international trade is to gain competitive advantage.
Security for farmers and dairy sector
On concerns being raised regarding agriculture and dairy sector, Goyal said that sensitive areas have been kept out of the agreement. He clearly said that no GM (Genetically Modified) food products will come to India, dairy, maize, soybean and poultry sectors are out of this deal. The interests of farmers and dairy industry have been protected.
India-US trade talks postponed for now
Negotiations on the proposed interim trade agreement between India and America will resume when the situation on America’s new tariff changes becomes clear. The three-day meeting to be held in Washington was postponed due to changes in tariff policy. The Indian delegation was to be led by chief negotiator Darpan Jain. The Indian government will also take legal opinion on the US court’s decision and the impact of the new tariff changes.
What was decided earlier in the tariff
Earlier this month, both the countries had finalized a framework for an interim trade agreement, under which the US had agreed to reduce the reciprocal tariff imposed on India from 25% to 18%. Removal of additional 25% penalty charge was indicated.
Impact of US Supreme Court
Recently, the US Supreme Court canceled the comprehensive reciprocal tariff regime implemented by President Donald Trump, after which major changes were seen in the tariff policy. America had imposed 26% tariff on Indian goods in April 2025, which was later reduced to 25%. In August, an additional 25% duty was imposed on India for continuing to buy oil from Russia, bringing the total tariff impact to 50%. However, under the new interim framework, America has indicated to reduce the tariff to 18% and remove the additional 25% duty.