Piyush Goyal Says India-US Trade Deal Ready Once Competitive Tariff Edge Is Restored; Calls Proposed 100 Per Cent US Tariff 'Speculation'
Commerce and Industry Minister Piyush Goyal dismissed reports of a proposed 100 per cent US tariff on India for importing Russian crude oil as 'speculation'.
Goyal said the first phase of the India-US Bilateral Trade Agreement is ready for implementation once the tariff framework gives India a competitive edge.
The trade agreement was finalized on the understanding that India would receive favourable market access compared to competitors in its neighbourhood and ASEAN region.
A Russia sanctions bill advancing in the US Senate could authorize sweeping tariffs on nations continuing to buy Russian energy.
India is actively participating in ongoing US Section 301 investigations and remains engaged with the US administration.
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