India-US trade deal ready once competitive edge is restored, says Goyal as US Senate advances 100% tariff bill

Commerce Minister Piyush Goyal said the first tranche of the India-US Bilateral Trade Agreement is ready for implementation but awaits US action to restore India's competitive edge.

The US Senate advanced a bipartisan sanctions bill that could allow President Donald Trump to impose tariffs of up to 100% on imports from countries buying Russian oil and gas, including India.

India is a major purchaser of Russian oil, making it a potential target of the proposed 100% tariff if the bill becomes law.

Goyal stressed that the BTA will only take effect once the US ensures India receives a competitive advantage over other exporting nations.

The development highlights the tension between advancing trade ties and geopolitical sanctions pressures involving Russia.