Amid Donald Trump’s tariff threats, Commerce Minister Piyush Goyal not too long ago held a “forward-looking” dialogue with US Commerce Consultant Jamieson Greer, specializing in advancing a mutually helpful bilateral commerce settlement. Goyal emphasised that India’s method will align with the ideas of “India First,” “Viksit Bharat,” and the nation’s Complete Strategic Partnership.
Sharing insights from the assembly on his X timeline, Goyal highlighted the dedication to strengthening commerce ties. “Had a ahead trying dialogue with @USTradeRep Jamieson Greer on a mutually helpful Bilateral Commerce Settlement. Our method will probably be guided by ‘India First’, ‘Viksit Bharat’ and our Complete Strategic Partnership.”
Had a ahead trying dialogue with @USTradeRep Jamieson Greer on a mutually helpful Bilateral Commerce Settlement.
Our method will probably be guided by ‘India First’, ‘Viksit Bharat’ and our Complete Strategic Partnership. pic.twitter.com/0KKyWALEP7
— Piyush Goyal (@PiyushGoyal) March 14, 2025
Bilateral commerce settlement
Goyal’s US go to follows discussions between US President Donald Trump and Prime Minister Narendra Modi, the place each leaders expressed their intention to barter the preliminary part of a complete Bilateral Commerce Settlement (BTA) by fall 2025. The leaders additionally dedicated to appointing senior representatives to spearhead these negotiations.
Throughout their latest assembly, President Trump and PM Modi resolved to broaden commerce and funding, aiming to boost prosperity, bolster nationwide power, encourage innovation, and strengthen provide chain resilience. A big milestone set throughout the discussions was “Mission 500,” an bold purpose to greater than double bilateral commerce to USD 500 billion by 2030.
Challenges
President Trump, throughout his second time period, has reiterated the necessity for tariff reciprocity, indicating that the US will match tariffs imposed by different nations, together with India. The US has continuously raised considerations over India’s excessive tariff charges, suggesting that attaining truthful commerce would require strategic changes.
US Commerce Secretary Howard Lutnick not too long ago expressed curiosity in negotiating a broad-based commerce settlement with India. Talking on the India At the moment Conclave, Lutnick famous that discovering a mutually helpful answer would necessitate mutual understanding and cooperation. He emphasised the significance of contemplating your complete commerce relationship relatively than specializing in particular person merchandise.
Each nations have demonstrated their dedication to enhancing commerce relations, with ongoing discussions set to form the way forward for India-US financial cooperation.
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