India-US Trade Deal: Commerce Minister Piyush Goyal Set To Meet USTR Jamieson Greer Today

Union Commerce and Industry Minister Piyush Goyal is scheduled to hold high-level discussions with US Trade Representative Jamieson Greer in New Delhi as both countries intensify efforts to conclude the first phase of a long-anticipated bilateral trade agreement (BTA).

The talks come at a crucial juncture, with a July 24 deadline linked to the prevailing US tariff framework approaching rapidly.

The meeting follows earlier negotiations between chief trade negotiators held in New Delhi and recent diplomatic engagement between Prime Minister Narendra Modi and US President Donald Trump on the sidelines of the G7 Summit in France, where trade issues were also discussed.

The primary focus of the current round of discussions is expected to be the interim phase of the bilateral trade agreement, which both sides are working to finalise.

According to Foreign Secretary Vikram Misri, negotiations have entered their concluding stage, with substantial progress made in recent weeks.

Commerce Secretary Rajesh Agrawal has also indicated that Goyal and Greer are likely to finalise the framework of the agreement during this visit.

Earlier, Goyal had expressed optimism that the two countries were moving closer to resolving outstanding issues and could sign the first phase of the agreement by mid-next month.

A key objective for India in these negotiations is to secure improved market access and a competitive edge for its exporters in the US market.

The tariff structure has become a central point of discussion. Previously, Indian exports were expected to face an 18% tariff, slightly lower than competing countries facing 19–20% duties.

However, a uniform additional 10% tariff currently applies across countries, reducing India’s relative advantage in global trade competitiveness.

India is now seeking preferential treatment to ensure its exporters are placed in a stronger position compared to competitors such as Vietnam, Bangladesh, Indonesia, and other ASEAN nations.

The urgency of the talks is driven by the approaching July 24 deadline, after which the US’s temporary 10% tariff arrangement—introduced for a 150-day period—is set to expire. A new tariff structure could be implemented if no agreement is reached before then.

Officials on both sides are therefore working under significant pressure to reach a consensus.