NEW DELHI: Commerce and Industry Minister Piyush Goyal said on Friday that India would go in for a rebalancing of the proposed trade agreement with the United States, if required, to protect its interests, in view of the changed situation following the US Supreme Court annulling the tariff hikes announced earlier by the Donald Trump administration.
"Given the evolving situation on US tariffs, we will wait and watch and ensure India’s best interests are protected, " Goyal said at a media event here.
"It’s an evolving situation. The Trump administration has made some comments; they have other tools that they can use. Next week, they can increase tariffs to 15 per cent. Various dialogues are going on. I had said that if the circumstances change, the deal will be rebalanced."
The minister pointed out that the "India-US joint statement says that should circumstances change, the deal will be rebalanced".
He further stated that bilateral trade discussions with the United States are continuing amid the changing situation.