World

India Insists on Preferential Tariff Terms for US Trade Deal

Commerce Minister Piyush Goyal stated that India will finalize a trade deal with the U.S. only if preferential tariff rates are offered.

4 September 2026Tagblick Newsdesk

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Archive photo: India Insists on Preferential Tariff Terms for US Trade Deal — Archive photoPhoto: U.S. Deputy Secretary of Defense Kathleen H. Hicks · Wikimedia Commons · Public domain

Commerce Minister Piyush Goyal has stated that India will not finalize a trade deal with the United States until the U.S. provides preferential tariff terms. He emphasized the requirement for tariff treatment similar to that offered to U.S. competitors such as Vietnam and Bangladesh.

Goyal underscored that India's nine free trade agreements (FTAs), which collectively cover economies with a gross domestic product (GDP) of approximately $60 trillion, would significantly enhance access to global trade, impacting nearly two-thirds of it.

The trade deal between India and the U.S. was initially announced in February 2026, with a framework introduced by U.S. President Donald Trump at that time. The announcement aimed to bolster trade relations between the two nations.

According to Goyal, the success of the future trade deal greatly depends on receiving a preferential rate from the U.S., which he indicated is necessary for India to proceed further in negotiations.

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