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'Tariffs were from US': Piyush Goyal explains why Trump announced India-US deal first

Posted on: Feb 03, 2026 17:47 IST | Posted by: Hindustantimes
'Tariffs were from US': Piyush Goyal explains why Trump announced India-US deal first
COmmerce and manufacture government minister Piyush Goyal on tues answered wherefore it was the United States which proclaimed the India-US trade deal before New Delhi made it official.Responding to questions on why US President Donald Trump had tweeted about the agreement ahead of India, Goyal said the decision to roll back the tariffs originated in the US."When US had applied reciprocal tariffs, and they had to roll those back -- this information would come from US only" he said.India and the United States will soon put out a joint statement on their trade deal and share details about it after a "final understanding" is inked and technical processes are completed, Indian trade minister Piyush Goyal said on Tuesday.Also Read | 'Best deal in region': Piyush Goyal heaps praises on India-US pact with scant detail, turns to bashing Rahul GandhiWhat is happening?US President Donald Trump announced that India will take "zero" tariffs on US products, and will buy $500 billion worth of American goods.While the deal was confirmed by PM Modi on Monday night, the lack of specific details from the government triggered a political firestorm in New Delhi.The US administration has lowered reciprocal tariffs on Indian goods from 25% to 18%, effective immediately.And the other 25% levied as penalty for India buying Russian oil has been removed. Trump said Modi promised to him India won't buy Russian oil anymore.This move essentially rolls back a 50% tariff rate that has been in place since August 2025.

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