Piyush Goyal to visit US to kickstart bilateral talks

Commerce and industry minister Piyush Goyal is likely to visit Washington in the coming week to meet Jamieson Greer, who was appointed US trade representative (USTR) on Wednesday.

Goyal's visit could set off the talks for a bilateral trade agreement (BTA), the first tranche of which the two sides aim to negotiate by autumn of 2025. The visit could begin Monday.

"Discussions are going on with the external affairs ministry and a visit is likely," said an official.

India and the US announced their commitment to more than double the two-way trade to $500 billion by 2030 and negotiate the first tranche of a mutually beneficial, multi-sector BTA by fall of 2025. The decisions were taken during Prime Minister Narendra Modi's visit to Washington recently. The two sides aim to increase market access, reduce tariff and non-tariff barriers and deepen supply chain integration.

Greer has been appointed USTR ahead of the proposed 25% tariffs on Mexico and Canada coming into effect March 4. China will be charged an additional 10% tariff from the same date by the US.

Goyal is also expected to meet US secretary of commerce Howard Lutnick during his visit.

US President Donald Trump has said India will not be spared Washington's reciprocal tariffs of 25% or higher on automobiles, pharmaceuticals and semiconductors. A formal announcement is expected by April 2.

Ahead of Goyal's visit, inter-ministerial and industry consultations have taken place to firm up a list of India's asks and non-negotiables, one person aware of the talks said.

New Delhi expects negotiations at the trade ministry-level to start in the next 10 days after the appointment of the USTR.

India and the US aim to more than double the two-way trade to $500 billion by 2030 and will take an "integrated approach" by increasing market access, reducing tariff and non-tariff barriers, and deepening supply chain integration.

The US was India's largest trading partner in FY24 and is one of the few countries with which India has a trade surplus.

New Delhi has already extended the olive branch to Washington and lowered the import duty on bourbon whisky to 100% from 150% besides announcing duty cuts on import of fish hydrolysate for the manufacture of aquatic feed, specific waste and scrap items, ground installation for satellites, Ethernet switches and motorcycles in the FY26 budget, a move that will benefit American exports.

These measures assume significance as Trump has termed India a tariff abuser and threatened reciprocal tariffs on Indian goods imported into the country.