{"id":278265,"date":"2025-04-09T22:18:17","date_gmt":"2025-04-09T22:18:17","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/04\/09\/us-trying-to-reset-the-rules-of-the-trade-game-with-china-says-piyush-goyal\/"},"modified":"2025-04-09T22:18:17","modified_gmt":"2025-04-09T22:18:17","slug":"us-trying-to-reset-the-rules-of-the-trade-game-with-china-says-piyush-goyal","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/04\/09\/us-trying-to-reset-the-rules-of-the-trade-game-with-china-says-piyush-goyal\/","title":{"rendered":"US trying to reset the rules of the trade game with China, says Piyush Goyal"},"content":{"rendered":"
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Union Commerce Minister Piyush Goyal<\/a> on Wednesday said that the United States is attempting to reset the rules of the trade game with China, signaling a shift in the global trade dynamic. <\/p>\n

Goyal made this remark at the News18 Rising Bharat Summit 2025, discussing the ongoing trade face-off between the two superpowers and its potential implications for India.<\/p>\n

Goyal pointed out that the US has been using a formula to calculate tariffs, imposing different tariffs on different countries. <\/p>\n

“The US has a formula to calculate tariffs, based on this, the country has imposed differential tariffs on different countries,” he said, highlighting how the current global trade environment is evolving.<\/p>\n

US-China trade tussle an opportunity for India: Goyal<\/h2>\n

In the wake of the US-China trade war, Goyal sees a silver lining for India. <\/p>\n

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“The US-China trade face-off is an opportunity for India,” he noted, emphasizing how India can capitalize on the situation to bolster its position in global trade. He further stated, “We (India) suffered immensely during the Congress party’s rule. I don’t know what contract did the UPA government sign with the Communist Party of China. Similarly, the US suffered amid predatory pricing by China.” Goyal also addressed India’s proactive stance against unfair trade practices. “The government acts proactively when predatory pricing comes from countries like China,” he said, underscoring India’s commitment to ensuring fair trade practices in the global market. Speaking on the broader goal of India’s future, Goyal said, “The goal of making India a developed nation by 2047 is paramount when we engage with any country.” <\/p>\n

This long-term vision aligns with the Modi government’s ongoing trade negotiations with developed nations, which Goyal assured would result in favorable outcomes for India. <\/p>\n

“We are in trade deals with several developed countries. We negotiate behind closed doors, and the final outcome will be in India’s favor. I can give that assurance,” he said.<\/p>\n

‘India saved the world from an oil crisis’<\/h2>\n

On global energy concerns, Goyal highlighted India’s pivotal role in preventing a global oil crisis. <\/p>\n

“India saved the world from an oil crisis. The world should thank PM Modi<\/a>,” he said, adding that without India’s crude oil imports from Russia, oil prices could have surged to $300 per barrel.<\/p>\n

Reflecting on the international trade environment, Goyal pointed to the US’s emphasis on fair trade. “The whole issue the US has had is with fair trade, something that India has been vocal about,” he said, referencing the Trump administration’s tariffs on various countries. <\/p>\n

He also underscored India’s unique position in dealing with global powers, noting, “Modi was the first leader in the bloc to rekindle his friendship with Trump after he took the Oval Office. We’re engaged with the US because we started early. PM Modi had the foresight to start early.”
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Union Commerce Minister Piyush Goyal on Wednesday said that the United States is attempting to reset the rules of the trade game with China, signaling a shift in the global trade dynamic. Goyal made this remark at the News18 Rising Bharat Summit 2025, discussing the ongoing trade face-off between the two superpowers and its potential […]<\/p>\n","protected":false},"author":2,"featured_media":278266,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/img.etimg.com\/photo\/118783427.cms","fifu_image_alt":"","footnotes":""},"categories":[602],"tags":[168,215114,1749,19432,215112,190471,19431,18733,3129,27311,899,14195,215110,215113,215111,103377],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/278265"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=278265"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/278265\/revisions"}],"predecessor-version":[{"id":278267,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/278265\/revisions\/278267"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/278266"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=278265"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=278265"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=278265"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}