India and US Set Table for Trade Talks: A Step Towards Bilateral Prosperity
Commerce and Industry Minister Piyush Goyal will visit Washington to negotiate the Bilateral Trade Agreement with the US. Talks will focus on market access and reducing tariffs. Both nations aim to leverage a 90-day tariff pause for negotiations. The agreement covers 19 chapters, including tariffs and customs facilitation.
- Country:
- India
Piyush Goyal, India's Commerce and Industry Minister, is set to lead a team of senior officials to Washington, DC, beginning on May 17. The purpose of this visit is to engage in discussions with American counterparts concerning the proposed Bilateral Trade Agreement (BTA), according to an unnamed official source.
During this visit, Goyal will hold meetings with the US Trade Representative, Jamieson Greer, and US Commerce Secretary, Howard Lutnick, to deliberate the agreement's specifics. The engagement spans four days, from May 17 to May 20, amid ongoing efforts by both countries to establish an interim trade arrangement, securing immediate mutual benefits before finalizing the trade agreement's first phase by the fall.
These high-stakes discussions arrive against the backdrop of a significant trade surplus in goods favoring India, at USD 41.18 billion in 2024-25, and widespread concerns regarding non-tariff barriers. Officials aim to advance talks during a 90-day tariff suspension, with a focus on market access, rules of origin, and non-tariff barriers.
(With inputs from agencies.)
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