Amid US tariff flux, Piyush Goyal holds 'fruitful discussions' with Howard Lutnick

New Delhi: Commerce and industry minister Piyush Goyal Thursday held discussions on bilateral trade and economic ties with visiting American commerce secretary Howard Lutnick, days after US President Donald Trump's sweeping global tariffs were struck down by the US Supreme Court. "Hosted US Secretary of Commerce @HowardLutnick & @USAmbIndia Sergio Gor. Engaged in very fruitful discussions to expand our trade and economic partnership," Goyal said in a post on X.

The meeting comes at a time when India and the US are in the process of finalising the legal text for the first phase of a bilateral trade agreement.

Lutnick is understood to be on a personal visit to India.


Post the Supreme Court ruling last week, the US moved to reset global tariffs to 10% for 150 days, though Trump later threatened to raise it to 15%.

India and the US decided to defer the proposed three-day meeting of their trade negotiators to finalise the text of the interim pact.

Earlier this week, Goyal said two-way trade talks would resume once there was more clarity, signalling New Delhi's intent to pursue a deal with Washington despite Trump's weakened legal authority on tariffs.

Trump, after the judgement, had said "nothing changes" in the India-US trade deal.

"A highly productive lunch...so many areas of cooperation for our two nations!", US envoy to India Sergio Gor said in a separate post on X, with a picture of himself with Lutnick and Goyal.

The February 6 joint statement on the framework for an interim deal proposed lowering the earlier 25% reciprocal tariff to 18%, but the change is still to be implemented pending the legal agreement.

Indian exports slated for 18% duty under previous agreements will now see a reduction, providing temporary, albeit small relief to exporters.

The US can also use Section 338 of the Tariff Act of 1930, which permits retaliatory tariffs if countries discriminate against American exports, but it requires strong proof and has never been used in modern practice.

Trump has also threatened using Section 301 of the Trade Act of 1974, which targets unfair trade practices. This however requires lengthy investigations before tariffs can be imposed.

The meeting holds immense importance as both countries are in the process of finalising the legal text for the first phase of a bilateral trade agreement.

Following the US Supreme Court order striking down US President Donald Trump's sweeping tariffs, the US has imposed 10 per cent tariffs on all the countries for 150 days.