What's Delaying The India-US Trade Deal? Piyush Goyal Explains The Biggest Hurdle

Summary

The United States and India are continuing negotiations on a proposed bilateral trade agreement, but a key hurdle remains, with India seeking a competitive tariff advantage over rival economies. US Treasury Secretary Scott Bessent has warned that tariff rates could be restored to their earlier levels if ongoing investigations result in new trade measures. India's Commerce and Industry Minister Piyush Goyal has stated that the agreement cannot be implemented unless India secures preferential treatment under the evolving US tariff framework, giving it a competitive edge over neighboring and competing countries.