Trade Talks Set to Intensify as India’s Goyal Plans US Visit
WASHINGTON/NEW DELHI – India and the United States are poised to accelerate bilateral trade negotiations with a potential visit to the US by commerce and Industry Minister Piyush Goyal in the near future, according to reports. This move follows what both sides have described as “positive and forward-looking” discussions between US Trade Representative Robert Lighthizer and Indian officials.
The US embassy confirmed Lighthizer held a “positive meeting” with his counterpart to discuss “next steps” in the ongoing bilateral trade negotiations. This signals a potential thaw in relations that cooled earlier this year, prompting the US to withdraw from a sixth round of talks due to concerns over India’s continued energy and military purchases from Russia.
tensions further escalated when President Donald trump announced a doubling of tariffs on Indian imports, imposing an additional 25 percent levy on top of an existing 25 percent, totaling 50 percent. Though, a shift in tone followed a series of mutual expressions of admiration between Trump and Prime Minister Narendra Modi on social media, paving the way for recent trade talks in New Delhi.
Speaking during his state visit to the United Kingdom on thursday, President Trump reaffirmed his close relationship with India, stating he is “very close” to Prime Minister Modi. He referenced a recent birthday phone call to Modi,noting,”I spoke to him the other day to wish him a Happy Birthday. We have a very good relationship and he put out a beautiful statement too.” Trump also used the example of India, alongside European nations, in discussing oil purchases from Russia, while referencing the tariffs he imposed.
Optimism regarding the future of trade relations is also building within India’s economic advisory circles. Chief Economic Adviser V. Anantha Nageswaran indicated on Thursday that the 25 percent penal tariff imposed on Indian imports by the US government may be withdrawn after November 30. he expressed confidence in a significant betterment in trade ties, stating, “I 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 and so on, I do believe…the penal tariff will not be there after November 30.”
As March, India and the US 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.
