'If tariff was zero, you might’ve won!': Piyush Goyal draws 18% tariff link to India’s T20 World Cup win over US

Union Commerce Minister Piyush Goyal on Monday drew a parallel between trade and sport, saying that the United States’ 18 per cent tariff on Indian goods reflected the margin by which India defeated the US in a recent T20 World Cup match.

Goyal made the remarks at a reception hosted at the residence of the US Ambassador to India Sergio Gor in New Delhi. Referring to the cricket match between India and the United States, the minister said the US team delivered a strong performance despite the loss.

Remarks at ambassador’s residence

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“The US may not have won yesterday's match (against India in the T20 World Cup), but I must say, for a country which has not known cricket and has started on cricket a few years ago, the performance was fabulous,” Goyal said.

Recalling an exchange during the match, Goyal said Ambassador Gor was present at the game and highlighted a numerical similarity between the match result and trade tariffs.

Tariff reference during interaction

“Sergio pointed out one very important factor – the US lost the match by 18 per cent and a very humble request I made to him as a suggestion that if only you had made the reciprocal tariff zero, you would possibly have won the match,” Goyal said.

He added that he was impressed by the progress made by the US cricket team in a short span of time and said the rise of cricket in the US was notable, given the country’s limited exposure to the sport in the past.

India-US interim trade framework

The remarks came a day after India and the United States issued a joint statement outlining details of the recently announced interim trade agreement between the two countries. Under the framework, tariffs on Indian goods entering the US will be reduced from 50 per cent to 18 per cent. The negotiations for the agreement began in February 2025.

As part of the arrangement, the tariff reduction by the US will apply to a range of Indian products, including textiles and apparel, leather and footwear, plastic and rubber goods, organic chemicals, home decor items, artisanal products and select machinery.

Reciprocal commitments and ambassador’s role

In return, India has agreed to eliminate or reduce duties on a wide range of US industrial products and agricultural and food items, including dried distillers’ grains, red sorghum used for animal feed, tree nuts, fresh and processed fruits, soybean oil, and wine and spirits.

At the reception, Goyal credited Ambassador Gor for his role in concluding the framework for the India-US interim trade agreement. He said the agreement would not have been possible without the ambassador’s support and personal leadership.

Goyal also wished the ambassador a successful tenure in India. Ambassador Gor formally assumed office after presenting his credentials to President Droupadi Murmu at Rashtrapati Bhavan on January 14. He is the 27th United States Ambassador to India.