Finance Minister Nirmala Sitharaman (centre), RBI Governor Sanjay Malhotra (right), and Minister of State for Finance Pankaj Chaudhary during a press conference after a Central Board meeting of the Reserve Bank of India, at the RBI headquarters, in New Delhi, on February 23, 2026.
| Photo Credit: PTI
Finance Minister Nirmala Sitharaman on Monday (February 23, 2026) said it is too early to comment on the tariff changes announced by the United States and the Commerce Ministry is reviewing the situation.
On Friday (February 20, 2026), the U.S. Supreme Court gave a verdict against the sweeping import tariffs imposed by the Trump administration on trade partners. Following that, President Donald Trump imposed a 10% tariff on all countries, including India, from February 24 for 150 days. Later on Saturday (February 21, 2026), Mr. Trump announced raising these tariffs to 15%.
Also read: U.S. Supreme Court rejects tariffs highlights
Asked about the impact of tariff changes on the Indian economy, Ms. Sitharaman said it is a “bit too soon” to comment.
“But on the trade particularly, aside from the Indian economy in general, the Commerce Ministry is reviewing the situation. The delegation will have to take a call on when they are going to go for further negotiations. So it’s a bit too early for me (to comment),” Ms. Sitharaman said.
On Sunday (February 22, 2026), India and the U.S. decided to reschedule the proposed meeting of their chief negotiators, supposed to be held in Washington from Monday (February 23, 2026), to finalise the text for the interim trade pact, according to sources.
Joint Secretary in the Commerce Ministry, Darpan Jain, is the chief negotiator of India for this agreement.
Talking to reporters after addressing the RBI’s Central Board in New Delhi, Ms. Sitharaman said India has been on a very clear path of wanting to have trade deals and has already inked pacts with Australia, New Zealand, the UAE, Qatar, Oman, the EU and the U.K.
“So, therefore, our attempt to have a trade agreement will go on with countries,” she said, adding that India wants the economy to have the advantage of trading globally and being able to reach global markets.
Published – February 23, 2026 03:34 pm IST
