US trade chief to visit India for interim deal discussions

New Delhi: US trade representative Jamieson Greer will be in India this week to meet commerce and industry minister Piyush Goyal and other senior government officials as Washington and New Delhi push ahead with negotiations on a bilateral trade agreement, according to a statement from the US Trade Representative's office.

The discussions will focus on implementing the US-India joint statement and an interim trade agreement being negotiated as part of the broader US-India bilateral trade agreement (BTA) framework. The negotiations were launched following talks between US President Donald Trump and Indian Prime Minister Narendra Modi on 13 February 2025. The visit comes amid efforts by both countries to deepen economic ties and address market access issues through a comprehensive trade pact.

Speaking at a media conclave, Goyal said he would be "the happiest person" if the first tranche of the trade deal is signed before 24 July. However, he noted that negotiations had to be revisited after a US Supreme Court ruling altered the tariff landscape by declaring certain tariff measures illegal.

The proposed trade deal is likely to cover issues such as preferential tariffs, rules of origin and investment provisions, as both countries remain "seriously engaged" in expanding cooperation in defence, critical minerals and investment, he said.

Rules of origin determine how much of a product must be manufactured within a country to qualify for tariff benefits under a trade agreement.

He said the government is working to conclude a trade agreement that benefits Indian exporters, industry and farmers through preferential market access compared with competing countries.

Indian exporters have been seeking improved access to the US market in sectors such as textiles, gems and jewellery, engineering goods, pharmaceuticals and agricultural products. Goyal added that any agreement must be mutually beneficial, stressing that a one-sided deal would not be sustainable.

US Ambassador to India Sergio Gor on Monday expressed optimism ahead of Greer's visit to New Delhi to discuss the bilateral trade deal.

In a post on X, the US envoy signalled his anticipation for Greer's visit, stating that he is looking forward to welcoming him to the capital for his scheduled meeting with Minister of Commerce and Industry Piyush Goyal, alongside other senior officials.

India and the US formally launched BTA negotiations on 13 February 2025. The first glimpse of the emerging bargain appeared in the India-US Joint Statement issued on 6 February 2026.

Washington promised to reduce its reciprocal tariff on Indian exports from 25% to 18%. In return, India signaled willingness to lower tariff on US industrial and agricultural products, ease access for American medical devices and farm goods, facilitate cross-border data flows, accept digital trade commitments, align more closely with U.S. economic and security priorities, and potentially purchase up to $500 billion of US goods over five years.

However, before the agreement could be finalized, the basis of the US tariff offer came under question. On 20 February 2026, the US Supreme Court ruled that President Trump's reciprocal tariffs exceeded the authority granted under the International Emergency Economic Powers Act (IEEPA), effectively invalidating the legal foundation of the tariff regime.

The tariff concession Washington had offered India—the reduction from 25% to 18%—effectively disappeared overnight.

Within hours of the ruling, Washington imposed a temporary 10% tariff on imports from all trading partners under Section 122 of the Trade Act of 1974. The measure can remain in force for up to 150 days without Congressional approval and is scheduled to expire on 24 July 2026.

Harsh Kumar is a policy reporter at Mint (HT Media Group), where he covers the Ministry of Commerce and Industry along with key departments of the Ministry of Finance, including the Department of Economic Affairs (DEA) and the Department of Financial Services (DFS). With over five years of experience in business and economic journalism, he has developed strong expertise in tracking policy developments and their wider economic impact.<br><br>He has previously worked with Business Standard, Moneycontrol, and Outlook Money, where he reported extensively on banking, financial services, and the broader economy. Over the years, he has built a reputation for delivering accurate, insightful, and impactful stories, supported by a keen eye for detail and a consistent track record of breaking exclusive news.<br><br>An alumnus of Jamia Millia Islamia, Harsh closely follows regulatory changes and key economic trends shaping India’s financial and industrial landscape. His reporting aims to simplify complex policy issues for a wider audience while maintaining depth and credibility.<br><br>Outside of work, he enjoys tracking policy developments, finding scoops, and travelling, reflecting his curiosity about how economic decisions shape everyday life.