Trade pact with US set to be finalised by end of '25: Piyush Goyal
Sunday, 16 February 2025 Commerce and Industry Minister Piyush Goyal stated that the announcement of a trade deal with the US has instilled significant confidence among businesses on both sides. The agreement aims to strengthen economic ties and targets a bilateral trade of $500 billion by 2030, while promoting domestic manufacturing through initiatives like the National Manufacturing Mission.
President Donald Trump has reignited global trade tension by declaring that the U.S. can “do whatever we want” as the July 8 deadline on reciprocal tariffs approaches. The 90-day pause on steep U.S. import duties—affecting several nations—is set to expire soon, with Trump refusing to confirm adherence to any deadline. While the EU faces a 50% tariff threat by July 9, Trump hinted flexibility, echoing his stance that America will act in its best interest. Amidst this uncertainty, Trump teased a “very big” trade deal with India, stating the U.S. has finalized partial deals with China and the UK and is working on opening India’s trade structure. Commerce Secretary Howard Lutnick and Indian Minister Piyush Goyal have confirmed negotiations are progressing. Trump suggested letters may soon be sent to over 200 nations outlining revised U.S. trade terms. The trade battlefield is heating up again—with Trump in full control.
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Union Minister Piyush Goyal calls the proposed India-US bilateral trade pact the 'mother of all deals.' At the Invest Kerala Global Summit, he emphasized strong... IndiaTimes