US Trade Talks Continue, Says Piyush Goyal Amid Navarro’s Attack on PM Modi’s Ties with Putin, Xi

New Delhi— Amidst escalating friction in India-US trade relations following the Trump administration’s move to impose 50% tariffs on Indian goods, Commerce and Industry Minister Piyush Goyal on Tuesday said that India was actively engaged in dialogue with Washington to finalize a bilateral trade agreement.

“We are in a dialogue with them for a bilateral trade agreement,” Goyal said, emphasizing that India was always open to a fair, equitable, and mutually beneficial trade deal. He also highlighted that India’s free trade agreements with Oman, Chile, Peru, and the European Union (EU) were at an advanced stage.

Goyal’s remarks came shortly after US President Donald Trump’s Trade Adviser Peter Navarro criticized Prime Minister Narendra Modi’s engagement with Russian President Vladimir Putin and Chinese President Xi Jinping at the recent SCO Summit.

Navarro described Modi’s outreach as “a shame,” questioning India’s ties with authoritarian regimes. He added, “It doesn’t make sense for the leader of the world’s largest democracy to align with Putin and Xi. India needs to stand with us, Europe, and Ukraine, not Russia. It should also stop buying Russian oil.”

Despite these sharp remarks, some optimism came from US Treasury Secretary Scott Bessent, who expressed hope that both countries would overcome their differences. In an interview with Fox News, he said, “At the end of the day, India is the most populous democracy in the world, and its values are closer to ours. India and the US will get this solved. But concerns remain over India’s purchase of Russian oil, which indirectly finances the Ukraine war.”

The trade conflict escalated after the US slapped 50% tariffs on Indian goods, which included 25% reciprocal tariffs and an additional 25% penalty for buying Russian oil. This came after five failed rounds of negotiations in February aimed at doubling bilateral trade to $500 billion by 2030. The sixth round of talks, scheduled for August 25-29, was delayed following the tariff announcement.

The new tariffs are expected to impact $48.2 billion worth of Indian exports, particularly from labour-intensive sectors such as textiles, machinery, gems, and jewellery. In 2024, India had exported goods worth $86.5 billion to the US. The Indian government termed the tariffs “unjustified and unfair,” asserting that it would take all necessary measures to safeguard national interests.

On talks with the EU, Goyal confirmed that “very active and significant progress” was being made. Commerce Secretary Sunil Barthwal is currently in Brussels for discussions, while an EU trade delegation will visit India next week. European Trade Commissioner Maros Sefcovic is scheduled to arrive in New Delhi on September 12 to take the negotiations further.

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