Brief by Shorts91 Newsdesk / 04:15am on 05 Sep 2025,Friday India Global
Union Commerce Minister Piyush Goyal urged calm over India-US trade tensions, asserting "no need to panic" despite Trump's punitive 50% tariffs on Indian goods. Goyal emphasized India maintains "very good relations" with Washington and expressed confidence in reaching an "equitable, fair and balanced agreement." The tariffs doubled from 25% to 50% as penalty for India's Russian oil trade. US Treasury Secretary Scott Bessent previously called India "recalcitrant" in negotiations, initially targeting October completion. However, scheduled August talks were deferred indefinitely. Goyal stressed patience in trade negotiations, noting there's "never a timeline" for such complex discussions. Multiple negotiation rounds have occurred recently as both nations seek resolution amid escalating trade disputes and geopolitical tensions. (PC: X)
