Piyush Goyal Explains Why Trump Announced India-US Trade Deal First
India
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News18•03-02-2026, 17:58
Piyush Goyal Explains Why Trump Announced India-US Trade Deal First
- •Commerce Minister Piyush Goyal clarified that US President Donald Trump announced the India-US trade deal first because the US had initially imposed and then withdrew tariffs on Indian goods.
- •The agreement significantly reduces US tariffs on Indian goods from 50% to 18%, after Washington dropped an additional 25% punitive levy imposed last August.
- •Goyal highlighted that the deal will create numerous opportunities for India's export-oriented industries, including MSMEs, engineering, textiles, gems and jewelry, leather goods, and marine goods.
- •PM Modi ensured the protection of India’s sensitive economic sectors, particularly agriculture and dairy, during the trade negotiations.
- •There is widespread enthusiasm across India, especially among export-oriented and technology sectors, regarding the deal's potential to boost global supply chain integration and investment.
Why It Matters: Piyush Goyal clarified Trump's early announcement of the India-US trade deal, emphasizing its benefits and protection of sensitive sectors.
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