Commerce and Trade Minister Piyush Goyal and U.S. Commerce Consultant Jamieson Guria started bilateral talks in New Delhi on Tuesday (June 23, 2026) on points associated to the primary part of the bilateral commerce settlement.
Mr. Guria is in New Delhi on an official go to to barter a commerce deal.
“A heat welcome to Ambassador Jamieson Greer of @USTradeRep, Ambassador Sergio Gol of @USAmbIndia, and the @DoC_GoI delegation. Wanting ahead to a productive dialogue on the (India-US) bilateral commerce settlement,” Goyal mentioned in a social media publish on X.
Commerce Secretary Rajesh Agrawal and India’s Chief Negotiator Darpan Jain, who can also be Further Secretary within the Ministry of Commerce, will probably be attending the assembly being held at Vaniya Bhawan, the headquarters of the Ministry of Commerce and Trade.
The assembly adopted a chief negotiator-level dialogue on the deal held within the capital earlier this month (June 2-4).
Agrawal mentioned on June 15 that talks between the 2 ministers will give attention to finalizing the framework settlement.
On June 17, US President Donald Trump mentioned the 2 international locations had been “very shut” to a commerce deal.
Goyal mentioned earlier on June 5 that India and the US are shifting towards closing all open ends of their interim commerce settlement, and that the 2 international locations are prone to conclude a “very energetic” first part of BTA by the center of subsequent month.
Each side introduced the define, or framework, of the primary part of a bilateral commerce settlement (BTA) in February. The framework was based mostly on the 50% tariff imposed by the US on Indian merchandise. However on February 20, the U.S. Supreme Court docket struck down the sweeping tariffs imposed by the Trump administration.
Subsequently, on February 24, the Trump administration introduced that it could impose a ten% tariff nationwide for 150 days based mostly on Part 122 of the Commerce Act. The tariffs expire on July 24 of this yr.
Talks between the 2 international locations are essential given these modifications within the US customs system.
India and the US formally started BTA negotiations on February 13, 2025. On February 7, 2026, the 2 international locations introduced that they’d reached a framework for an interim settlement on mutually useful and mutually useful commerce.
Beneath this framework, the US had agreed to scale back tariffs on India from 50% to 18%. The 25% tariff imposed on Indian items for the acquisition of Russian oil was to be abolished, and the remaining 25% was to be decreased to 18% below the settlement. Nevertheless, the U.S. Supreme Court docket has dominated in opposition to these tariffs.
Beneath the agreed framework, India proposed to get rid of or cut back tariffs on all U.S. industrial merchandise and a variety of meals and agricultural merchandise, together with dried distillers’ grains (DDG), feed-grade purple sorghum, tree nuts, contemporary and processed fruit, soybean oil, wine and spirits, and different merchandise.
New Delhi additionally introduced its intention to buy $500 billion in U.S. power merchandise, plane and plane components, valuable metals, expertise merchandise and coking coal over the following 5 years.
Attributable to modifications within the customs state of affairs in the US, either side are reconsidering the framework of the settlement.
February’s joint assertion on the framework features a clause through which the U.S. and India agree that the opposite nation can change its commitments if the agreed tariffs change.
In the meantime, the Workplace of the U.S. Commerce Consultant launched two Part 301 investigations focusing on roughly 60 international locations on March 11 and 12. One targeted on allegations of extra industrial capability, and the opposite investigated considerations about compelled labor in world provide chains. India was included in each surveys.
When the framework for the primary part of the settlement was accomplished, India had comparative benefits over rivals comparable to ASEAN international locations (Indonesia, Malaysia, Singapore, Thailand, Philippines, Brunei, Vietnam, Laos, Myanmar, and Cambodia), Sri Lanka, Pakistan, and Bangladesh.
Beneath this framework, the US had introduced that it could impose an 18% tariff on Indian merchandise. At the moment, India’s tariffs on rivals ranged from 19-20%. However now all international locations face the identical 10% extra tax.
It’s now essential for India to achieve a bonus over its rivals on the tariff entrance in commerce agreements with the US.
The US was India’s second largest buying and selling accomplice in 2025-2026.
Final fiscal yr, India’s exports to the US elevated barely by 0.92% to $87.3 billion, whereas imports elevated by 15.95% to $52.9 billion. The commerce surplus decreased from $40.89 billion in 2024-25 to $34.4 billion in 2025-26.
issued – June 23, 2026 1:19 PM IST
