'We never negotiate on gunpoint': Piyush Goyal on Trump's 90-day pause on reciprocal tariffs

Union Commerce Minister Piyush Goyal said that India never negotiates with any country on gunpoint. His comments came after US President Donald Trump on Wednesday put a 90-day pause on reciprocal tariffs on 75 countries, including India. 

The total tariffs imposed on Chinese goods by the Trump administration at 145 per cent from the 125 per cent rate imposed, as per the White House. He was speaking on the sidelines of the Italy-India Business, Science and Technology Forum in Delhi. 

"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," Goyal said.  At present, the US reciprocal tariff on India stands at 10 per cent. 

Furthermore, due to the 90-day pause on tariffs, India wants to move quickly on a trade deal with the US, as per news agency Reuters. "India is one of the first nations to start talks over a deal with the United States and to have jointly agreed to a deadline to conclude it," an official told the news agency.

The official said India would raise scrutiny on imports to spot any potential dumping of goods, including from China. In February this year, India and the US agreed to work on the first phase of a trade deal to be wrapped up by autumn 2025 with an aim to reach bilateral trade worth $500 billion by 2030. 

Commenting on this, Goyal said that trade talks between two nations proceed when both sides are sensitive to each others' concerns and requirements. "All our trade talks are progressing well, in the spirit of India First, and to ensure our pathway to Viksit Bharat @ 2047 in the Amrit Kaal."

This comes after Goyal requested exporters to not panic and reassured them that India is working towards the "right mix and right balance" in its proposed trade agreement with the US. 

The Union Minister said India's negotiating team is working with "speed" but not "in undue haste" to ensure the best possible outcome for the nation.