Piyush Goyal Confident Of US-India 'Friendship' Amid 50% Tariffs, Says 'Relationship One Of The Most Consequential'

(MENAFN- Live Mint) Piyush Goyal, the Union Minister of Commerce and Industry, on Thursday expressed confidence that the friendship between the United States and India can overcome current trade and tariff hurdles.

Notably, US President Donald Trump has imposed the highest tariffs on India - a combined 50 per cent duty, of which 25 per cent was imposed in April 2025 and another 25 per cent was added from August 27, as“punishment” for buying Russian crude oil.

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“I think the US-India relationship is one of the most consequential relationships on the globe today. We are two very large democracies. We believe in the rule of law. We are allies and friends for long. I look at this only as one more situation which will pass as there's a deeper understanding and I'm very confident this relationship will only strengthen in the years to come,” Goyal said in an interview with News18 on September 4.

When asked about how soon he expects the situation to resolve, Goyal was optimistic that it could be“soon enough”, but added that it could take time, noting,“Irrespective, we will continue to be friends.”

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“We will continue to be engaged with the US and I'm sure we will continue to have greater economic relationships, defence relationships, greater interest in a safe, fair and secure Indo-Pacific. In some sense, it's a very multi-dimensional relationship where we contribute to each other's economies in different dimensions and will continue to do so,” Goyal added.

When asked whether the US-India bilateral trade agreement (BTA) could come by November, he added that during their meeting in February, both Prime Minister Narendra Modi and Donald Trump“tasked their teams to conclude the first tranche of a bilateral trade agreement by fall of '25”.

“I'm sure we will continue to be engaged to try and find solutions to reach that outcome. If at all, it's give and take a few days, a few weeks, a few months - in a nation's history, such small periods will not define long-term objectives and goals,” he added.

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Commenting on the strong and“incendiary” language used by some members of the Trump administration, Goyal called it“personal opinions”.

“I think there could be either some misunderstandings or some personal opinions that may be reflected in that. I do not think that deters the US and India from continuing to maintain a strategic alliance and partnership. Our friendship is far stronger than a few comments that maybe made by a few people,” he added.

On whether India could take a page out of China's book and impose retaliatory tariffs on the US, Goyal dismissed the possibility.“India is a patient country. And I believe it should give it every effort to come to a better, deeper understanding within the framework of international trading laws. We have always believed in dialogue, in diplomacy, and an effort to strengthen rather than weaken relationships,” he added.

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