India-US Trade Deal: Union Commerce Minister Piyush Goyal on Friday said that India would consider 'rebalancing' the proposed trade agreement with the United States if necessary to protect its interests. This comes days after the US Supreme Court struck down President Donald Trump's far-reaching global tariffs.

"We'll have to watch. And by the way, you must have read my joint statement that we had finalised with the US. It has categorically said that should the circumstances change, the deal would be rebalanced...to ensure that the balance of the deal is maintained on both sides," Goyal said.

ALSO READ: US Commerce Secretary, Who Predicted India Would 'Say Sorry,' Visits New Delhi; Have Tables Turned Post SC Tariff Ruling?

He noted that since the situation continues to evolve, the Trump administration could use other measures to raise tariffs. "Various dialogues are going on. I had said that if the circumstances change, the deal will be rebalanced," he added.

Joint Statement Includes 'Rebalancing' Clause: Goyal

The joint statement, released on February 7, included a clause allowing either country to modify its commitments if the other changes agreed-upon tariffs. Goyal said this 'rebalancing' clause is included to preserve the "sanctity of the deal is both ways".

"There are so many positives in the US deal; let us see how the situation moves forward. International trade deal is about competitive advantage," he said.

Domestic Dairy Farm Products Protected: Goyal

Union Commerce Minister Piyush Goyal reiterated that the crucial dairy and farm sector remains protected in the proposed India-US trade deal.

"No GM foods will come into India. Dairy, maize, soybean and poultry are exempt from the US trade deal. We have preserved the interests of farmers, dairy. The deal preserves our interests," Goyal said.

ALSO READ: Canada Makes Diplomatic U-Turn Ahead Of Carney's Visit: 'India No Longer Connected To Violent Crimes In Ottawa'

India-US Bilateral Trade Agreement Meeting Rescheduled

India and the United States have agreed to reschedule the official meeting over the interim bilateral trade agreement to factor in the implications of the US Supreme Court judgment striking down the Trump administration's tariff hikes. A decision to fix the date for the official meeting will be taken soon.