India, US to hold ministerial-level talks on trade pact this week

Commerce and Industry Minister Piyush Goyal and US Trade Representative Jamieson Greer will hold two days of discussions in New Delhi this week to advance negotiations on the first phase of the proposed India-US bilateral trade agreement (BTA).

Confirming the visit, Goyal said his US counterpart would arrive in the capital for talks aimed at finalising key elements of the agreement.

The ministerial meeting follows chief negotiator-level discussions held in New Delhi from June 2 to 4. Commerce Secretary Rajesh Agrawal has said the latest round of talks is expected to focus on giving final shape to the framework agreement.

Earlier this month, Goyal said both countries were working to close remaining issues and could conclude the first phase of the trade pact by the middle of next month.

The talks come ahead of the expiry of a temporary 10 per cent tariff imposed by the United States on imports from all trading partners. The tariff, introduced on February 24 for a period of 150 days, is due to end on July 24.

The tariff was introduced after the US Supreme Court struck down the Trump administration's reciprocal tariffs imposed under the International Emergency Economic Powers Act. India had previously faced tariffs of up to 50 per cent under that regime.

The evolving tariff landscape has prompted both countries to revisit parts of the trade framework agreed in a joint statement issued on February 7.

According to that framework, India offered to reduce or eliminate tariffs on a range of US industrial, agricultural, and food products. New Delhi also expressed interest in purchasing US energy products, aircraft, technology goods, precious metals, and coking coal over the next five years.

Indian negotiators are also seeking a tariff advantage over competing exporters such as Vietnam, Bangladesh, and other ASEAN countries, arguing that lower duties on Indian goods would improve their competitiveness in the US market.

The United States was India's second-largest trading partner in 2025-26. India's exports to the US stood at USD 87.3 billion during the fiscal year, while imports from the US rose to USD 52.9 billion.

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