Union Minister Piyush Goyal reacts to US Supreme Court ruling blocking Trump tariffs

Union minister Piyush Goyal was speaking at the Rising Bharat Summit.

Union Minister Piyush Goyal stated that they are monitoring developments in the US, specifically referencing the Supreme Court's decision to strike down Trump-era tariffs. "We are watching the situation as it emerges," he said.

Piyush Goyal was speaking at the News18 Rising Bharat Summit on February 27.

Goyal emphasised that the United States is a very important trading partner for India. He said that India and the USA has a "multi-faceted partnership". "India has become member of Pax Silica. We will need ICT equipment. There are huge opportunities in textile, in gems and jewellery," he said.

On February 20, the U.S. Supreme Court issued a landmark 6-3 ruling in Learning Resources, Inc. v. Trump, striking down the primary legal foundation for President Trump’s sweeping second-term tariff agenda.

“Should the circumstances change, the deal will be rebalanced…The deal has many elements. There are so many positives. Trade deals or international trade are about comparative and competitive advantage. A trade deal is not about what the tariff is. It is about the advantage you get over the competition. At 50% tariff, we were at a huge disadvantage, and the fact that we were able to bring it down to much lower than the rest of the competition was huge for India’s agriculture, handicrafts, diamonds, pharmaceuticals…India is on the move, and our exports this year will be higher," he said.