Trump signals no more trade talks

The cumulative tariff hike of 50 per cent is to kick in from August 27, three days after a team of US trade negotiators is expected to land in New Delhi for fresh parleys to resolve outstanding issues, which include the US' pitch for market access to its dairy products and genetically modified crops.

- 

These issues appear to have scuttled months of negotiations after Prime Minister Narendra Modi and Trump agreed to work towards a bilateral trade agreement (BTA) in February.

Goyal responded to a query about Trump tariffs at an event hosted by Business Today, saying India finds opportunities in crisis. "The nation's morale is high... There is a lot of strength in the Indian economy... India will emerge as the winner (in any kind of crisis)," he said.

Without naming a country, the minister further said that a successful deal relies on mutual respect and sincerity. "Remember in life that a deal can only work when it's a win-win. It can never be a lopsided, one-sided leadership. If you respect the other person, you receive corresponding respect," Goyal remarked.