India negotiates US trade agreement from place of power
(MENAFN) India is approaching its trade negotiations with the United States from a position of strength, prioritizing its national interests, Commerce Minister Piyush Goyal stated, as reported by the Hindu BusinessLine. Discussions are currently underway between Washington and New Delhi to finalize a bilateral trade agreement ahead of the July 9 deadline set by US President Donald Trump, aimed at averting reciprocal tariffs.
“At present, India negotiates confidently and from a position of strength,” Goyal said at a summit on Saturday. He emphasized that India does not rush to meet imposed deadlines, but instead focuses on securing agreements that protect its core national interests.
President Trump’s administration has recently introduced a wave of tariffs intended to protect American industries, including a blanket 10% tariff—escalating to 70% for countries deemed to be trading unfairly. These measures were launched on April 2, dubbed ‘Liberation Day.’
India is seeking improved access to US markets for labor-intensive goods and wants preferential treatment in these sectors over competitors, a source familiar with the talks told Hindu BusinessLine. While some reports suggest the deal is nearing completion, others believe it will be finalized in phases. India has reportedly offered tariff reductions on several American goods but remains firm on protecting sensitive sectors like agriculture and dairy.
Finance Minister Nirmala Sitharaman echoed this stance last week, telling the Financial Express that India cannot afford to compromise on agriculture or farmer welfare. According to the Commerce Ministry, India’s trade surplus with the US reached $41.18 billion in the 2024–25 fiscal year, with total bilateral trade valued at $131.8 billion.
During Trump’s second term, the US has also concluded new trade agreements with the UK and Vietnam, and reached a provisional deal with China to cap tariffs at 30% following earlier hikes to 145% amid escalating tensions.
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