India-US trade talks gather pace ahead of key US tariff deadline

India and the United States are set to intensify negotiations on the proposed bilateral trade agreement (BTA), with US Ambassador to India Sergio Gor announcing on June 22 that US Trade Representative Jamieson Greer will hold multiple meetings with Union Commerce and Industry Minister Piyush Goyal here to advance the trade deal ahead of a key tariff deadline next month.

"Looking forward to welcoming Ambassador Greer @USTradeRep to New Delhi! Multiple sessions scheduled with Minister @PiyushGoyal to advance the U.S.-India trade deal!" Gor said in a post on X.

Greer is scheduled to hold talks with Goyal as the two countries seek to finalise the framework for the first phase of the proposed bilateral trade agreement ahead of a key tariff deadline next month.

The ministerial-level engagement comes amid ongoing negotiations between India and the US to conclude an interim trade pact, which is expected to pave the way for a broader bilateral trade agreement.

On Sunday, Goyal had said that his US counterpart would be arriving here for discussions on the trade deal.

"For the US trade deal talks, tomorrow my counterpart is coming to Delhi," the minister told reporters.

Earlier in the month, Commerce Secretary Rajesh Agrawal had said that discussions between the two sides were expected to focus on giving final touches to the framework agreement while also advancing negotiations on the broader trade pact.

Goyal had said that India and the US were moving towards closing all the open issues in the interim trade agreement and expressed confidence that the first phase of the BTA could be concluded by the middle of next month.

The talks assume significance as the 10 per cent temporary tariff imposed by the US on all its trading partners is scheduled to expire on July 24.

The temporary tariff, announced by the US administration earlier this year, is levied over and above the Most Favoured Nation (MFN) duty rates. Once the 150-day period ends, Washington is expected to implement a revised tariff regime.

The latest ministerial engagement follows chief negotiator-level discussions held in New Delhi from June 2 to June 4 to advance negotiations on the proposed agreement.

The two countries are aiming to strengthen economic ties and expand bilateral trade through a phased trade arrangement while working towards a comprehensive bilateral trade pact.

"Except for the headline, no changes have been made to the story, as it has been sourced from IANS."