Piyush Goyal Says India Will Address US Section 301 Issues, Remains Confident on Trade Deal

Commerce Minister urges Indian industry to move beyond its ‘comfort zone’ and explore opportunities in domestic and international markets

The Trump administration recently proposed 12.5% tariffs on imports from India and 53 other countries after a USTR investigation under Section 301 of the US Trade Act of 1974 concluded that these countries had failed to impose a legal prohibition on the importation of goods produced wholly or in part with forced labour.

Addressing the issue, Commerce and Industry Minister Piyush Goyal said there was no need to worry about the Section 301 investigation, stating that “we will tackle it”.

Goyal made the remarks while speaking at the Financial Express India’s Best Banks Awards in Mumbai on June 7. He also encouraged Indian industry to move out of its “comfort zone” and seek new opportunities both within the country and in international markets.

Referring to the proposed tariffs, Goyal noted that the announcement had come while India and the United States were finalising a bilateral trade agreement.

According to Goyal, US Trade Representative Jamieson Greer is expected to visit India within the next two weeks for further discussions related to the trade deal. Earlier indications had suggested that an agreement could be reached by July.

Speaking about the Section 301 investigation, Goyal said, “So this (Section 301 investigation) is really a mechanism that didn’t think there was any need to worry about Section 301, and that “we will tackle it”.

The comments come amid continuing discussions between India and the United States over a bilateral trade agreement, with both sides engaged in negotiations on market access and trade-related issues.