Politics

'US imposed reciprocal tariff, so...’: Goyal explains why Trump revealed India-US trade pact first

February 3, 2026

The recent India-US trade deal, announced by President Trump, will see tariffs on Indian goods reduced from 25% to 18%, significantly boosting India's exports. Commerce Minister Piyush Goyal explained that the announcement was made by the US due to their initial imposition of tariffs, while Finance Minister Nirmala Sitharaman termed it a positive move for Indian exporters.

Union Minister Piyush Goyal. PTI File

Credit: Firstpost

Key Highlights

US President Trump announced the reduction of tariffs on Indian goods to 18%.
The previous tariff rate was 25%.
Commerce Minister Piyush Goyal stated the US made the announcement due to prior tariff impositions.
Finance Minister Nirmala Sitharaman highlighted the deal's potential to boost India's exports.
The tariff reduction aligns India's rates with those of other Asian countries.

World Economy

Sources

This quick summary is automatically generated using AI based on reports from multiple news sources. The content has not been reviewed or verified by humans. For complete details, accuracy, and context, please refer to the original published articles.

'US imposed reciprocal tariff, so...’: Goyal explains why Trump revealed India-US trade pact first

Key Highlights

Sources

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