India eyes mid-July finalization of U.S. deal, with high-level talks imminent
Both sides are close to finalizing the first tranche of a broader bilateral trade agreement after constructive talks on tariffs and market access, officials said.
- On Friday, Commerce and Industry Minister Piyush Goyal announced India and the U.S. are finalizing an interim trade agreement, aiming to execute a "very, very vibrant" first phase by the middle of next month.
- The U.S. tariff landscape shifted after the Supreme Court ruled against President Donald Trump's International Emergency Economic Powers Act tariffs, requiring negotiators to recalibrate the pact amid a uniform 10% tariff.
- Citing forced labor concerns, the U.S. Trade Representative proposed 12.5% tariffs on 54 countries, including India, under the Trade Act of 1974, though the measure remains a proposal subject to hearings.
- Late this month, a high-level team likely led by U.S. Trade Representative Jamieson Greer will visit India to advance discussions on trade in goods and economic security alignment, the Commerce Ministry said.
- Seeking a tariff advantage over competitor nations like Sri Lanka, Pakistan, and Bangladesh, New Delhi intends to purchase $500 billion of U.S. energy products, aircraft, and technology over five years.
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30 Articles
US-India trade pact is a battle for climate and supply chain security
As chief trade negotiators in New Delhi hammer out the final line-items of the long-awaited US-India interim trade agreement, the dialogue stands at a critical inflection point. While traditional metrics of bilateral diplomacy, agricultural access, tariff rationalization and industrial protectionism, remain essential foundations, they no longer represent the ultimate endgame of modern statecraft. Instead, this trade framework must be understood …
India, US may be in position to execute first tranche of BTA by mid-July: Piyush Goyal
Commerce minister Piyush Goyal said India and the US could execute the first tranche of their bilateral trade agreement by mid-July, after three days of productive negotiations in New Delhi.
India, US May Execute First Phase Of Trade Pact By Next Month: Piyush Goyal
India and the US are moving towards closing all the open ends of the interim trade agreement, and both sides are likely to execute the "very, very vibrant" first phase of the pact by the middle of next month, Piyush Goyal said on Friday.
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