‘We Never Negotiate At Gunpoint’: Piyush Goyal Responds to Trump’s Tariff Pause
Union Commerce and Industry Minister Piyush Goyal on Friday asserted that India will not negotiate trade deals “at gunpoint,” following US President Donald Trump’s announcement of a 90-day suspension on reciprocal tariffs targeting countries including India.
Speaking at the Italy-India Business, Science and Technology Forum in the capital, Goyal emphasized India’s steadfast approach to international trade negotiations, stating, “We never negotiate on gunpoint. Favourable time constraints motivate us for quicker talks, but till the time we are not able to secure the interest of our country and our people, we do not hurry.”
The minister’s remarks come just days after President Trump’s April 2 executive order placed a 90-day hold—until July 9—on new tariff impositions. The pause has been interpreted as a strategic window for trade talks amid increasing global economic tensions.
Goyal reiterated that discussions with multiple countries are progressing steadily, driven by the government’s ‘India First’ policy. “All our trade talks are progressing well, in the spirit of India First, and to ensure our pathway to Viksit Bharat by 2047 in the Amrit Kaal,” he added, referring to the government’s vision of a developed India.
The Ministry of Commerce & Industry had earlier confirmed that negotiations are ongoing with the United States for a comprehensive and mutually beneficial bilateral trade agreement. The deal is expected to cover multiple sectors and aims to more than double trade volumes, which currently stand at approximately $191 billion.
At a separate event, External Affairs Minister S Jaishankar echoed Goyal’s sentiments, highlighting the urgency India places on finalising a trade agreement with Washington. “This time around, we are certainly geared up for a very high degree of urgency. We see a window and we want to see results,” Jaishankar said during his address at the Carnegie Global Technology Summit.
He further noted a shift in the US’s global engagement strategy, which has implications across trade, technology, and diplomacy. “Washington has fundamentally changed its approach to engaging with the world, and it has consequences across every domain,” he remarked.
Jaishankar also referred to the prolonged trade negotiations with the European Union, pointing out that the process has often been stalled for extended periods. “If you look at the EU, people say we’ve been negotiating for 30 years, but many of those years saw no meaningful dialogue,” he said.
Earlier this week, Jaishankar also spoke to US Secretary of State Marco Rubio, reiterating both nations’ commitment to an early conclusion of the bilateral trade pact.
The proposed India-US Bilateral Trade Agreement is expected to be finalised in phases, with the first phase aimed for completion by September–October this year. The goal is to boost bilateral trade to $500 billion, more than doubling current figures.
