Prime Highlights
- India and the US are working toward concluding an interim trade agreement.
- Modi and Trump reviewed cooperation in trade, defence, energy and critical technologies.
Key Facts
- Piyush Goyal is India’s Commerce and Industry Minister, while Jamieson Greer serves as the US Trade Representative.
- The February framework covers tariffs, market access and measures to reduce trade barriers.
Background
Commerce and Industry Minister Piyush Goyal and US Trade Representative Jamieson Greer have discussed steps to conclude an interim trade agreement between India and the United States. Their meeting took place on the sidelines of the G20 Trade Ministers’ Meeting in Milwaukee, where the US is chairing the discussions.
Goyal said the two sides held a productive discussion on completing a mutually beneficial interim agreement under the proposed India-US Bilateral Trade Agreement. The talks focus on tariffs, market access and other trade-related issues as both countries work toward a wider trade pact.
The two countries announced a framework for the interim agreement in February. The structure was designed to lower trade barriers and gain market access by laying the groundwork for a larger bilateral trade agreement. But the provisional agreement is still being negotiated because of changes in the US tariff policy.
India continues to seek improved access for its exporters in the US market. New Delhi wants the agreement to support greater competitiveness for Indian businesses across key sectors.
Meanwhile, Prime Minister Narendra Modi and US President Donald Trump reviewed bilateral cooperation during a phone conversation on Wednesday. They discussed trade, defence, energy and critical technologies, and reaffirmed their commitment to strengthening the India-US Comprehensive Global Strategic Partnership.