Piyush Goyal meets Jamieson Greer in New Delhi today: Key issues on India-US trade on the agenda

US Trade Representative Jamieson Greer and Union Commerce and Industry Minister Piyush Goyal will begin two-day talks on the first phase of the bilateral trade agreement (BTA) in the national capital today, 22 June.

The high-level discussions will focus on the United States-India Joint Statement and an Interim Agreement, which is part of broader bilateral trade negotiations. These negotiations were originally launched by President Donald Trump and Prime Minister Narendra Modi on 13 February, 2025, according to a United States Trade Representative press statement.

The meeting followed chief negotiator-level discussions on the pact held earlier this month (June 2-4) in the national capital.

"For the US trade deal talks, tomorrow my counterpart is coming to Delhi," Goyal told reporters in Mumbai on Monday. India is seeking a competitive advantage for its exporters over rival nations in the proposed trade agreement with the US, Goyal added.

The talks today follow a meeting between Prime Minister Modi and President Trump on the sidelines of the G7 summit in Evian, France, where both leaders pushed for an expedited timeline.

From New Delhi, Greer travels to Tashkent, Uzbekistan, to meet with President Mirziyoyev, Head of the Presidential Administration Saida Mirziyoyeva, and Deputy Prime Minister Jamshid Khodjaev.

Last week, Foreign Secretary Vikram Misri said that the interim bilateral trade pact reached its final stages. Speaking at a briefing after the G7 summit, Misri highlighted that both nations made significant progress and emphasied the importance of Ambassador Greer's impending visit to New Delhi to drive the trade deliberations forward.

Commerce Secretary Rajesh Agrawal also said recently that the discussions between the two ministers are expected to be centred around giving final touches to the framework deal.

On June 5, Goyal said India and the US are moving towards closing all the open ends of the interim trade agreement, and both sides are likely to execute the "very, very vibrant" first phase of the BTA by the middle of next month.

The 10 per cent temporary tariff imposed by the US on all its trading partners on February 24, 2026, for 150 days will expire on July 24. After that, the MFN (most favoured nation) tariffs will come into force on goods imported by the US.

The temporary tariff is levied over and above the MFN duty. So before July 24, the US has to put in place a new tariff regime.

For that, the US is conducting two Section 301 investigations against a number of countries, including India. This is the only legal mechanism through which the US can impose new tariffs of any magnitude.

Goyal has, however, has expressed confidence that India and the United States would successfully conclude a bilateral trade agreement, despite the probe.

“So this (Section 301 investigation) is really a mechanism being created, given their (the US) constraints that the Congress is not going to support any of their actions (on reciprocal tariffs)… They are trying to create a competitive edge for India. So I don’t think (we need to) worry about Section 301, we’ll tackle it, it’s our responsibility,” Goyal said at the Financial Express India's Best Banks Awards in Mumbai on Sunday, on 7 June.

US Ambassador to India Sergio Gor on Monday expressed optimism ahead of United States Trade Representative (USTR) Jamieson Greer's visit to New Delhi to discuss the bilateral trade deal.