Trade talks to resume after clarity over US tariff situation: Piyush Goyal

India to resume US trade talks after clarity on tariff regime following Supreme Court ruling on Trump-era duties

India will resume trade negotiations with the United States once there is greater clarity on the tariff situation in Washington, Commerce and Industry Minister Piyush Goyal said on Tuesday.

 

“Well, as soon as there's more clarity on the situation,” Goyal said at Business Standard Manthan in New Delhi.

 

This is the first official statement made by the commerce minister since the US Supreme Court ruling striking down Trump’s country-specific tariffs. 

 

The court revoked President Donald Trump’s authority to invoke the International Emergency Economic Powers Act (IEEPA) to impose country-specific “reciprocal” tariffs, creating uncertainty over the future course of trade measures.

 

 

Thereafter, starting February, Trump imposed a blanket 10 per cent surcharge on all countries for 150 days under Section 122 of the Trade Act. He also ordered new investigations under other laws that could allow him to re-impose the tariffs.

 

Amid the evolving situation, a team headed by India’s chief trade negotiator for the US, Darpan Jain, postponed its visit to Washington DC. The delegation was scheduled to travel on Sunday for three-day talks to finalise the legal text of the negotiated interim trade deal.

 

Both sides are currently evaluating the latest developments and their implications, and the meeting will be rescheduled at a mutually convenient date.