- By Nidhi Giri
- Fri, 05 Sep 2025 08:41 AM (IST)
- Source:JND
Union Minister of Commerce and Industry Piyush Goyal highlighted the "good relations" between India and the United States in a recent interview, assuring that there is no need to "panic" as negotiations are underway with the US over 50 per cent tariff on Indian goods.
"I do not think there is any need to panic. We should allow the negotiations to happen. We continue to have good relations with the United States, and I am sure we will be able to resolve some of these issues and come to an equitable, balanced and fair agreement," Goyal said in an interview with ANI on Thursday.
"There is never a timeline in negotiations. You should do it patiently, as you are doing it for the long term," Piyush Goyal stated when asked about the timeline of the negotiations.
US President Donald Trump has imposed an additional 50 per cent tariff burden on India, 25 per cent as a reciprocal trade measure and 25 per cent linked to oil imports from Russia. India is the only major economy facing these so-called “secondary tariffs,” despite China also being a significant buyer of Russian crude oil. The controversy deepened after the US Court of Appeals recently ruled that most of Trump’s sweeping global tariffs were unlawful. Following the verdict, Democrats in the House Foreign Affairs Committee urged Speaker Mike Johnson to terminate Trump’s “national emergency” declaration, which has been used to justify the tariff hikes.
Meanwhile, the 56th GST Council meeting on Wednesday brought down tax rates on daily-use items, educational supplies, electronic appliances, agricultural inputs and other sectors, offering a major relief to the middle class. Union Finance Minister Nirmala Sitharaman said that PM Modi has been pushing for this change for eight months.
