India, Feb. 28 -- Union commerce minister Piyush Goyal on Friday said the India-US joint statement of February 6 provides for rebalancing of the proposed interim trade deal if circumstances change, adding that New Delhi is watching the evolving situation following the US Supreme Court's verdict.

Speaking at the News18 Rising Bharat Summit 2026 in New Delhi, Goyal said India values comparative advantage over its competitors more than the tariff rate per se. His comments were with reference to the joint statement - released on February 7 by India time - in which Washington committed to reduce tariffs on Indian goods from 50% to 18% in exchange for preferential access of its products in the Indian market. The 18% tariff would have made Indi...