Commerce and Industry Minister Piyush Goyal on Tuesday answered why the US announced the India-US trade deal before New Delhi formalized it.
US President Donald Trump and Prime Minister Narendra Modi (Bloomberg)Asked why US President Donald Trump tweeted about the deal before India, Goyal said the decision to withdraw tariffs originated in the US.
“The US had imposed reciprocal tariffs, so the announcement about the reduction came from President Trump,” Goyal said.
India and the US will soon release a joint statement on their trade deal and share details about it after a “final understanding” is signed and technical processes are completed, India’s Commerce Minister Piyush Goyal said on Tuesday.
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What’s going on?US President Donald Trump has announced that India will impose “zero” tariffs on US goods and buy $500 billion worth of American goods.
While the deal was confirmed by Prime Minister Modi on Monday night, the lack of specifics from the government set off a political firestorm in New Delhi.
The US administration has reduced reciprocal tariffs on Indian goods from 25% to 18%, effective immediately.
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And the remaining 25% levied as a penalty for India’s purchase of Russian oil has been removed. Trump said that Modi had promised him that India would no longer buy oil from Russia.
The move essentially reverts to a 50% tariff rate that has been in place since August 2025.
