Commerce Minister Piyush Goyal on Friday said that he had a "forward-looking discussion" with US Trade Representative Jamieson Greer on a mutually advantageous Bilateral Trade Agreement (BTA) between India and the United States.
Posting on X (formerly Twitter), Goyal posted a picture of his meeting with Greer, reiterating that India's strategy in the trade talks would be based on the principles of "India First," "Viksit Bharat," and the Comprehensive Strategic Partnership between the two countries.
Last week, Goyal had also met Greer and US Commerce Secretary Howard Lutnick when he visited the United States. These talks were after discussions between US President Donald Trump and Prime Minister Narendra Modi, in which both leaders decided to negotiate the first phase of a multi-sector BTA by fall 2025.
Both countries reaffirmed that they would boost trade ties in a bid for fair, secure, and advantageous growth for the creation of jobs. As a part of the vision, the two leaders articulated an ambitious goal—termed "Mission 500"—for increasing bilateral trade more than double to $500 billion by the year 2030.
In the meantime, US Commerce Secretary Lutnick has recently signaled his desire to negotiate a wide-ranging trade deal with India, emphasizing a whole-of-the-piece approach over specific products.
Against this backdrop, the Indian government has made it clear to the Parliamentary Standing Committee on External Affairs that it has not committed to lowering tariffs on US imports.
While addressing a committee briefing, Commerce Secretary Sunil Barthwal assured that the trade negotiations between India and America were underway and no agreement was reached yet.
Barthwal's statements followed President Trump's assertion that India had acquiesced to substantially reducing its tariffs on U.S. imports. Referring to this statement, Barthwal warned against relying on media publications and presidential tweets, claiming that "bilateral trade agreement discussions between the two countries are underway. India has not made a commitment on trade tariffs to the US."
He also assured the committee that India's national interests would be given top priority during the negotiation process. India is willing to increase trade with the US, but it will not lower tariffs across the board, especially in industries vital to its domestic economy.
"India would like to negotiate tariff cuts bilaterally, not multilaterally, so that national interests are protected," Barthwal said.
President Trump's "America First" policy has in the past evoked worry over how it may affect world trade. The US President has consistently blamed its trading partners, including India, of indulging in unfair trade and has warned that he may slap punitive tariffs at large scales on Indian imports, accusing India of levying too high a duty on American products.
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