World
Goyal meets USTR Greer on interim India-US trade deal
The Hindu··1 Oct
Commerce Minister Piyush Goyal said he had a productive discussion with U.S. Trade Representative Jamieson Greer toward an early interim trade agreement. They met Wednesday on the sidelines of the G-20 Trade Ministers meeting in Milwaukee, about 1,200 kms from Washington, D.C. India and the U.S. finalised a first-phase trade framework in February. Further talks followed U.S. tariff changes.
Prism
What It Means For You
- An interim India-US trade deal would reset tariff terms for Indian exporters competing in the American market.
- ASEAN countries, China and Bangladesh are named as India's competitors in that market.
- No new signed text was announced from the Milwaukee meeting.
What's Happening
- Goyal posted that the talks aimed at a mutually beneficial interim agreement under the India-US Bilateral Trade Agreement.
- He also exchanged views with Greer on G20 deliberations under the U.S. presidency.
- The meeting came on the same day Modi and Trump held a telephone conversation on bilateral cooperation.
Where The Pact Stands
- India and the U.S. announced a first-phase framework in February.
- Goyal said on September 24 the pact is done and dusted pending competitive advantage in the U.S. market.
- Tariff landscape changes in the U.S. led to further negotiations after that framework.
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