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India-US trade surplus fell over 40 per cent to $2.94 billion in May as Goyal-Greer talks begin
The Indian Express··23 Jun
The Indian Express reported that Commerce Minister Piyush Goyal begins two-day talks with US Trade Representative Jamieson Greer on June 23 to finalise a trade deal as India's May surplus dropped from $5.02 billion a year earlier amid concessions made since the February 2025 Modi-Trump meeting.
Prism
What It Means For You
- Trade deal may affect prices of US farm and energy imports.
- Export sectors face competition from rising US shipments.
- Farmers in hill states fear subsidised apple inflows.
What's Happening
- Goyal and Greer began two-day talks on June 23.
- India's US trade surplus fell over 40 per cent in May.
- Section 301 investigation could reshape tariff architecture.
Negotiation Backdrop
- Talks follow over a year of trade tension.
- India conceded on whiskey, motorcycles and LPG imports.
- US Supreme Court struck down 50 per cent reciprocal tariffs.
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