In an effort to move the proposed bilateral trade agreement (BTA) closer to a crucial tariff deadline next month, US Ambassador to India Sergio Gor announced on Monday that US trade representative Jamieson Greer would conduct multiple meetings with Union Commerce and Industry Minister Piyush Goyal.
Gor, on his official X handle, wrote, “Looking forward to welcoming Ambassador Greer to New Delhi! Multiple sessions scheduled with Minister Piyush Goyal to advance the US-India trade deal!” Greer is set to meet with Goyal to finalise the framework for the first phase of the planned BTA ahead of a crucial tariff deadline next month.
The ministerial-level meeting takes place against the backdrop of ongoing talks between the US and India to reach an interim trade agreement that is expected to open the door for a more comprehensive deal. On Sunday, Goyal had announced that his US counterpart would be coming to negotiate the agreement.
Earlier, Commerce Secretary Rajesh Agrawal had stated that talks between the two countries were expected to focus on completing the framework and moving forward with negotiations on the larger trade agreement. Goyal expressed confidence that the first phase of the BTA could be finished by the middle of next month and stated that the US and India were working to resolve all outstanding issues in the interim trade agreement.
The negotiations are important since the US’s temporary 10 per cent tariff on all of its trading partners is set to expire on July 24. The US government issued the temporary tariff earlier this year. It is levied in addition to the Most Favoured Nation (MFN) duty rates. Washington is expected to enact a new tariff policy after the 150-day timeframe concludes.
In order to advance negotiations on the proposed deal, chief negotiator-level talks were held in New Delhi from June 2 to June 4. The most recent ministerial engagement comes after these talks. While pursuing a comprehensive bilateral trade agreement, the two nations hope to deepen economic connections and increase bilateral trade through a phased arrangement.
