India & US discuss bilateral trade deal amid tariff tensions
WASHINGTON : Union Commerce Minister Shri Piyush Goyal on Friday, March 14, said he had a “forward-looking” discussion with US Trade Representative (USTR) Jamieson Greer on a mutually beneficial bilateral trade agreement. Goyal emphasised that India’s approach in these talks would be guided by the principles of “India First,” “Viksit Bharat,” and the Comprehensive Strategic Partnership between the two nations.
Piyush Goyal tweeted, “had a forward looking discussion with USTrade Rep Jamieson Greer on a mutually beneficial Bilateral Trade Agreement. Our approach will be guided by ‘India First’, ‘Viksit Bharat’ and our Comprehensive Strategic Partnership.”
Goyal’s latest interaction with Greer follows his meeting with US Commerce Secretary Howard Lutnick earlier this month in the United States, where he negotiated a multi-sector Bilateral Trade Agreement (BTA). The proposed agreement aims to enhance trade in goods and services, expand market access, reduce tariff and non-tariff barriers, and deepen supply chain integration between the two countries.
During Prime Minister Narendra Modi’s visit to the White House in February, he and President Donald Trump announced plans to finalise the first phase of the BTA by fall 2025. As part of this, the leaders set an ambitious target— Mission 500 — to more than double bilateral trade to $500 billion by 2030. The deal is intended to strengthen economic ties while promoting fair and secure trade policies that benefit both nations.
Despite these commitments, trade tensions remain. Since taking office in January, Trump has repeatedly criticised India’s tariff policies, calling the country a “tariff king” and a “tariff abuser.” Ahead of Modi’s White House visit, Trump announced reciprocal tariffs on US trade partners, including India, claiming that New Delhi had agreed to lower its tariffs “way down.” However, India’s Commerce Secretary Sunil Barthwal clarified that no commitments have been made and that negotiations are ongoing. India has been working to deepen trade ties with the US while ensuring its exports remain competitive.
Source : CNBC 18