No deal with a gun to our head: Piyush Goyal says India won’t yield to US tariff demands

Union Commerce and Industry Minister Piyush Goyal on Friday made it clear that India will not be pressured into signing a trade deal with the United States. Speaking at the Berlin Global Dialogue during his official visit, Goyal said, “We are talking to the United States, of course, but we don’t do deals in a hurry, and we don’t do deals with deadlines or with a gun on our head.”

Goyal emphasized that India’s trade decisions are guided by long-term considerations rather than immediate pressures. “India looks long term, India never takes decisions in a rush or on the pressure of the moment. If there’s a tariff on us, there is a tariff on us. We’re looking at newer markets and stronger domestic demand,” he added.

The remarks come amid ongoing negotiations to revive a long-pending trade pact with the US aimed at reducing high American tariffs, currently at 50% on Indian goods, including additional levies tied to Russian oil imports. Goyal reiterated that India’s energy imports are guided by national interest and energy security, denying claims of recent direct talks with former US President Donald Trump regarding Russian oil.

Despite occasional friction, officials say progress continues on trade discussions, with the aim of increasing bilateral trade to $500 billion by 2030. Earlier this month, US Ambassador-designate Sergio Gor met Commerce Secretary Rajesh Agarwal in New Delhi to discuss boosting economic ties and American investment in India.