Commerce and Industry Minister Piyush Goyal on Friday said India would rebalance the proposed trade agreement with the United States if necessary to safeguard national interests, following a recent ruling by the Supreme Court of the United States that annulled tariff hikes introduced by the administration of Donald Trump.

Speaking at a media event in the capital, Goyal described the situation around US tariffs as “evolving” and said India would adopt a wait-and-watch approach. He noted that while the US Supreme Court struck down certain tariff measures, the American administration retains other policy tools, including the option of imposing fresh tariffs. “If circumstances change, the deal will be rebalanced,” he said, referring to provisions in the India-US joint statement that allow for adjustments under altered conditions.

The minister indicated that bilateral trade discussions between New Delhi and Washington are ongoing, even as both sides assess the implications of the court’s verdict. In a reference to recent remarks from the US leadership, Goyal observed that tariffs of up to 10 or even 15 percent could still be considered under alternative mechanisms. He maintained, however, that there were “many positives” in the proposed agreement and expressed optimism about its eventual outcome.

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Goyal emphasized that India has safeguarded sensitive sectors in the negotiations, particularly agriculture and dairy. He reiterated that genetically modified food products would not be allowed into India under the arrangement and that key segments such as dairy, maize, soybean and poultry have been kept outside the scope of concessions. “We have preserved the interests of farmers and the dairy sector. The deal preserves our interests,” he said.

In light of the changing trade environment, India and the United States have decided to reschedule a planned three-day meeting between chief trade negotiators that was earlier slated to begin on February 23 in the US. A fresh date will be finalized mutually, allowing both sides to incorporate the legal and policy implications of the US Supreme Court judgment. Despite global economic headwinds, Goyal said India’s exports are poised to grow this year, underscoring the government’s broader confidence in the country’s trade trajectory.

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