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

Piyush Goyal on Tuesday answered why it was the United States which announced the India-US trade deal before New Delhi made it official.

Updated on: Feb 3, 2026, 18:20:56 IST

By HT News Desk

Prefer HTon Google

Share via

Copy link

Commerce and Industry Minister Piyush Goyal on Tuesday answered why it was the United States which announced the India-US trade deal before New Delhi made it official.

US President Donald Trump and PM Narendra Modi (Bloomberg)

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.

“US had imposed reciprocal tariff, so announcement regarding reduction came from President Trump,” Goyal 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 Gandhi

What 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.

ABOUT THE AUTHOR
HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

Get the latest India News, breaking headlines and real-time updates from across the country. Stay informed about politics, government policies, crime, weather and major national developments.