Under the trade agreement between India and the US, the tariff was reduced from 50% to 18%. The agreement between the two countries had just been reached when, just days later, the US Supreme Court struck down the tariffs imposed by President Donald Trump; The court declared these tariffs illegal and ordered the return of the earnings from them. Following this development, some media reports speculated that India was postponing the trade deal. Talking on this issue, Union Minister Piyush Goyal expressed his views openly in ‘NXT Summit 2026’.
He rejected as “completely baseless and false” the reports circulating on social media alleging that India was postponing a trade deal with the US by several months. “There are some completely baseless reports doing the rounds… Do not pay any attention to them. There is not even an iota of truth in them… Our trade deal with the US is very good,” Goyal said. Goyal emphasized that this agreement is beneficial for both India and America. The Union Minister further said that India has completely protected its sensitive sectors, such as agriculture.
Through this agreement, India will get access to America’s advanced technology
No concessions of any kind have been made in respect of General System of Preferences (GSP) products, rice, maize, soybean, dairy or poultry. He stressed that it is a strong agreement that serves the interests of both countries, adding that “every trade deal should be like this.” Piyush Goyal also highlighted that through this agreement, India will get access to America’s cutting-edge technology. This could help India emerge as a global data hub and attract large-scale investments after the recent AI summit. Ultimately, this will further strengthen the country’s economy on the global stage.
There is no hindrance in the trade agreement…’
Last month, India and the US released a draft of an interim trade agreement. This reflects their commitment towards mutual and balanced trade between the two countries. In February 2025, US President Donald Trump and Prime Minister Narendra Modi began talks for a bilateral trade agreement (BTA). A joint statement issued by both sides described this interim agreement as a historic step, which is based on the interests of both sides and will strengthen supply chains. The Commerce Ministry also clarified that there is no hindrance of any kind, and both sides are actively engaged in it.
Trump administration starts new investigation
Meanwhile, the Trump administration has launched a new investigation into “unfair trade practices” allegedly being adopted by 16 major trading partners—including countries like India, China and Bangladesh. This step has been taken after the decision of the US Supreme Court last month, in which some of the previously imposed duties (tariffs) were declared illegal. As a result, tariff pressure may increase once again. Shri Goyal clearly stated that there is no delay of any kind regarding the India-US trade agreement, and both the countries are moving forward with a strong partnership.
