Trade Talks Set toโค Intensify โฃas India’sโฃ Goyal Plans US Visit
WASHINGTON/NEW DELHI – India and the United States are poised toโค accelerate bilateral trade negotiations with a potential visit to the US byโ commerce and Industry Minister Piyush Goyal in the near future,โ according to reports. This move follows what both sides have described as “positive and forward-looking” discussions โคbetween US Trade Representative Robert Lighthizer and Indian officials.
The US embassy confirmed Lighthizer heldโ a “positive meeting” with his counterpart โคto discuss “nextโฃ steps” in the ongoing bilateral trade negotiations. This โฃsignals a potential thaw in relations that cooled earlier this year, prompting the US to withdraw โfrom a sixth round of talks due to concerns over India’s continued โenergy and military purchases from Russia.
tensions โฃfurther escalated when Presidentโข Donald trump announced a doubling of tariffs on Indian imports, imposing an additional 25 percent โlevy on top of an existingโฃ 25 percent, totaling 50 percent. Though, a shift in tone followed a โฃseries of mutual expressions of admiration between Trump and Prime Minister Narendra Modi on social media, paving the way for โขrecent trade โขtalks in New Delhi.
Speaking during his state visit to the United Kingdomโข on thursday, President Trump reaffirmed his close relationship with India, stating he is “very close” toโข Prime Minister Modi. He โreferenced a recent birthday phone call to Modi,noting,”I spoke to him the other day to wish him a Happyโ Birthday. We โคhave a very good relationshipโ and he put out a beautiful statement too.” Trump also used the example of India, alongside European nations, inโข discussing oil purchases from Russia, whileโ referencing the tariffs he imposed.
Optimism regarding โthe future of trade relations โis alsoโฃ building within India’s economic advisory circles. Chief Economic Adviser V. Anantha Nageswaran indicatedโ on Thursday thatโค the 25 percent penal tariff imposed on Indian imports by the US governmentโ mayโ be withdrawn after November 30. he expressed confidence in โa significant betterment in trade ties, stating, “Iโ still believe that geopolitical circumstances may have led to the second 25 per cent tariff, but considering recent developments in the last couple of weeks โคand so on, I do believeโฆthe penal tariff will not be there after November 30.”
As March, India and the โคUS have completed five rounds of talks concerning a potential Bilateral Trade Agreement (BTA). The anticipated visit by Minister Goyal suggests a renewed commitment to resolving outstanding issues and forging a stronger economic partnership.
