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Watching developments in US; joint statement on trade deal provides for rebalancing: Goyal

Share FacebookTwitterWhatsAppPinterestLinkedinCopy URLTelegramEmailTumblrReddItPrintKoo NEW DELHI, Feb 27: Commerce Minister Piyush Goyal on Friday said India is watching developments following the US Supreme Court’s verdict against tariffs, pointing out that the joint statement on the proposed interim trade deal provides for a rebalancing of the pact “should circumstances change”. The minister’s remarks came on the heels of US President Donald Trump’s 10 per cent tariff against all trading partners for 150 days. The temporary 10 per cent tariff was imposed on February 24 after the US Supreme Court struck down President Trump’s April 2025 decision to impose reciprocal tariffs on all imports.

Watching developments in US; joint statement on trade deal provides for rebalancing: Goyal

Credit: Dailyexcelsior

Key Highlights

  • On February 24, Trump also announced further increasing the tariffs to 15 per cent.
  • “We’ll have to watch.
  • And by the way, you must have read my joint statement that we had finalised with the US.
  • It has categorically said that should the circumstances change, the deal would be re-balanced…to ensure that the balance of the deal is maintained on both sides,” he said when asked if India’s negotiating position will change after the verdict.
  • A joint statement issued on February 7 stated that in the event of any changes to the agreed-upon tariffs of either country, the US and India agree that the other country may modify its commitments.
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Sources

  1. Watching developments in US; joint statement on trade deal provides for rebalancing: Goyal

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.

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