March 18, 2025
The USTR confirmed ongoing talks on expanding market access and trade alignment under the America First policy
Goyal described the discussions as forward-looking and guided by the principles of ‘India First’, ‘Viksit Bharat’, and the India-US strategic partnership
Prime Minister Modi and President Trump jointly announced their intention to conclude the first phase of the BTA within seven to eight months
The agreement is expected to address tariff and non-tariff barriers and deepen supply chain integration
Commerce and Industry Minister Piyush Goyal’s recent engagement with United States Trade Representative (USTR) Jamieson Greer has brought new momentum to the ongoing discussions around reciprocal tariffs and the first phase of the bilateral trade agreement (BTA) that India and the US are working to finalise.
In a post on platform X, the USTR confirmed that Greer had a “productive meeting” with Goyal during the minister’s visit to the United States last week. According to the statement, the two have continued to engage in conversations focused on reciprocal trade, improving market access, and aligning with President Donald Trump’s ‘America First’ trade strategy.
Goyal held high-level discussions in Washington with top Trump administration officials, including Greer and US Secretary of Commerce Howard Lutnick. The meetings addressed immediate trade concerns, especially in light of the impending implementation of reciprocal tariffs by the US, set to take effect on April 2.
Responding to the USTR’s post, Goyal stated that he had a constructive discussion with Greer centred on a mutually beneficial BTA. He noted that India’s approach to the negotiations will be shaped by national interests, the broader vision of a developed India or ‘Viksit Bharat’, and the Comprehensive Strategic Partnership with the US.
This marks the first official confirmation from both governments of the meeting that took place last week.
In a prior joint announcement, Prime Minister Narendra Modi and President Donald Trump had expressed their commitment to finalising the initial phase of the BTA within the next seven to eight months. The agreement is expected to open up markets, ease trade restrictions, and improve supply chain integration between the two countries.
India is currently accelerating efforts to finalise its offer under the BTA, balancing domestic sensitivities while addressing key US demands. Officials are preparing a list of products on which India may lower tariffs to mitigate the impact of the forthcoming US tariffs.
Last week, President Trump reiterated that India had agreed to lower tariffs on certain American goods. However, he has consistently asserted that India’s historically high tariff regime does not warrant any exemption from US retaliatory measures.
Secretary of Commerce Howard Lutnick also commented that the US is pursuing a comprehensive trade deal with India, involving detailed discussions on a product-by-product basis—acknowledging that such negotiations could take several years to conclude.
Source: Business Standard