Goyal’s remarks followed President Trump’s announcement of a temporary halt on reciprocal tariffs for all nations except China, which is now subject to a 145 per cent duty. India, which was initially expected to be impacted, has been granted a 90-day pause.
Amid the global tariff conflict triggered by US President Donald Trump, Union Commerce Minister Piyush Goyal stated that India is currently in discussions with the United States on a trade agreement. He emphasised that India’s interests would remain paramount and that negotiations would not be carried out under external pressure.
“I’ve said it several times before — we do not negotiate at gunpoint. While time constraints can help drive timely discussions, it’s never wise to rush into decisions that could compromise national and public interests,” Goyal told reporters when asked about the progress of the India-US trade agreement.
His comments came a day after President Trump announced a pause on reciprocal tariffs for all countries except China, which now faces a 145 per cent duty. India, initially expected to be affected by the tariffs, has received a 90-day reprieve.
Goyal said discussions between India and the US are moving forward with the principle of ‘India first’, aligning with the country’s vision for Viksit Bharat 2047.
India and the US are aiming to conclude the first phase of their trade agreement by autumn 2025 (September–October), with the long-term goal of more than doubling bilateral trade — from the current USD 191 billion to USD 500 billion by 2030.
External Affairs Minister S Jaishankar also commented on the development, noting that India is engaging with both the US and the European Union with urgency on trade deals. He added that the Trump administration has responded swiftly to India’s proposals.
“Within a month of the new administration taking office, we had a conceptual agreement to work on a bilateral trade deal. We’re seeking a practical solution that respects both sides’ concerns. This isn’t an open-ended process,” Jaishankar said.
On the India-EU trade pact, Goyal remarked that progress is most effective when both parties respect each other’s concerns and needs.
“All trade discussions are advancing with the spirit of India first and in alignment with our vision for Viksit Bharat 2047,” he said. “However, concrete steps are required to accelerate the conclusion of the free trade agreement.”
Jaishankar added, “In each case, we’re urging our counterparts to expedite the process.”
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