India Ready to Rework US Trade Deal If Tariffs Shift, Piyush Goyal

Union Commerce Minister Piyush Goyal on Friday said India may seek a “rebalancing” of the proposed trade agreement with the United States if circumstances warrant, following the US Supreme Court’s verdict concerning President Donald Trump’s sweeping tariff measures.

Speaking about the evolving trade environment, Goyal said any shift in tariff structures could trigger provisions built into the bilateral understanding. “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 rebalanced… to ensure that the balance of the deal is maintained on both sides,” he said.

The joint statement, issued on February 7, includes a clause allowing either country to modify its commitments if there are changes to agreed-upon tariff arrangements. According to Goyal, this “rebalancing” provision safeguards the interests of both sides and ensures reciprocity in the event of policy shifts.

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The remarks come amid uncertainty surrounding US trade policy after legal scrutiny of tariff actions initiated under the Trump administration. Any significant change in American tariff structures could potentially affect ongoing negotiations over a broader India–US trade framework.

Goyal emphasised that India remains committed to a fair and balanced agreement that protects domestic industry while expanding market access. He indicated that New Delhi would carefully assess developments before taking any decision on invoking the rebalancing mechanism.

India and the US have been working toward deepening trade ties, with discussions focused on improving market access, addressing tariff and non-tariff barriers, and strengthening supply chain cooperation. The future course of the proposed agreement may now hinge on how tariff-related developments unfold in Washington.

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