India-US trade agreement talks progressing well: Commerce Secretary

Commerce Secretary Sunil Barthwal said that the negotiations for the proposed bilateral trade agreement between India and the US are progressing well. Barthwal said that an Indian team will be going to Washington for further discussions.

Commerce and Industry Minister Piyush Goyal will lead a team of senior Indian officials to Washington starting May 17 for discussions with their US counterparts on the agreement. He will hold meetings with US Trade Representative (USTR) Jamieson Greer and US Commerce Secretary Howard Lutnick during his visit.

The four-day talks (May 17-20) come against the backdrop of both countries exploring the possibility of an interim trade arrangement in goods to secure ‘early mutual wins’ ahead of finalising the first phase of the trade agreement by fall (September-October) this year.

Recently, Global Trade Research Initiative (GTRI) has said that India's proposal to impose retaliatory import duty on certain US products in response to American tariffs on steel and aluminium could cast a shadow over ongoing negotiations for a trade agreement between the two countries.