Trump's Tariffs Strain India-US Trade Talks; Goyal Says 'Negotiations Not At Gunpoint', Jaishankar Highlights 'Urgency'

India will not rush into a trade agreement with the United States despite US President Donald Trump’s recent decision to pause tariffs on Indian goods, Union Commerce Minister Piyush Goyal said. Emphasising a cautious and people-centric approach, Goyal asserted that trade negotiations will progress only if they align with India’s interests and are conducted with mutual respect.

Speaking at the Italy-India Business, Science and Technology Forum, Goyal stated, “All our trade talks are progressing well, in the spirit of ‘India First’ and to ensure our pathway to Viksit Bharat @2047 during the Amrit Kaal.” 

He made it clear that India will not negotiate under external pressure. “We never negotiate at gunpoint. Time constraints may push for quicker talks, but our priority remains securing the interests of our country and our people,” he added.

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External Affairs Minister S. Jaishankar, addressing the Carnegie Global Technology Summit, echoed the importance of trade talks but acknowledged a shift in global dynamics. He noted that the US has significantly changed its approach to international engagement, affecting every domain, including trade and technology. “We are certainly geared up for a very high degree of urgency. We see a window and want to act fast,” Jaishankar said.

Jaishankar admitted that India's trade deals are particularly challenging due to the ambitious nature of US demands and a complex global environment. “These are people on top of their game, ambitious about what they want to achieve,” he said, reflecting on India's readiness to meet the challenge. He also mentioned the historical context of prolonged negotiations with both the US and the EU, noting the inconsistent dialogue over decades.

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Amid these developments, China retaliated against new US tariffs by raising duties on American goods to 125 per cent, effective April 12. According to China’s official Xinhua news agency, the Customs Tariff Commission announced the hike and confirmed that a lawsuit has been filed with the World Trade Organization (WTO). These escalating trade tensions add a complex layer to India’s ongoing negotiations with the US and other global powers.

(With agency inputs)