Particle.news
Download on the App Store
42 ARTICLES
·
1h ago

Goyal Heads to Washington for India–US Ministerial Trade Talks on Sept. 22

The visit seeks to accelerate a phased trade pact to defuse a tariff dispute that pushed selected duties to 50%.

U.S. Secretary of State Marco Rubio and India's External Affairs Minister Subrahmanyam Jaishankar walk together at the State Department in Washington, D.C on July 1 (REUTERS FILE PHOTO)
Image
Union Minister of Commerce & Industry, Piyush Goyal.
The visit follows daylong discussions on Wednesday between US chief negotiator Brendan Lynch and his Indian counterpart, Agrawal, on the proposed Bilateral Trade Agreement (BTA) in New Delhi.

Overview

  • The commerce ministry said Piyush Goyal will lead a delegation to New York and Washington on September 22, joined by chief negotiator Rajesh Agrawal, to pursue an early, mutually beneficial agreement.
  • Daylong talks on September 16 in New Delhi between USTR’s Brendan Lynch and Rajesh Agrawal were described as constructive, with both sides agreeing to intensify efforts after a stall in August.
  • A combined 50% US duty on select Indian exports—25% reciprocal plus a 25% penalty tied to Russian oil purchases—remains in effect, with reports of cancelled orders in textiles, footwear and seafood.
  • During UNGA week, External Affairs Minister S. Jaishankar will meet US Secretary of State Marco Rubio in New York, and Goyal is expected to confer with USTR Jamieson Greer.
  • Negotiators are targeting a first tranche of the Bilateral Trade Agreement by late 2025 to help lift two-way trade toward a $500 billion goal, with five rounds completed so far and industry concerns including a reported $100,000 H‑1B fee hike on the agenda.