Latest in the India-US trade deal– India’s Commerce Secretary Rajesh Agrawal met US Deputy Trade Representative Rick Switzer to discuss bilateral trade and economic ties, the government said on Wednesday.
In a post on X, the commerce ministry said “The two sides exchanged views on matters related to India-US trade and economic ties including on the ongoing negotiations for a mutually beneficial Bilateral Trade Agreement.”
US team in Delhi
Switzer is leading a US team in New Delhi for two days of trade discussions.
Earlier today, Commerce and Industry Minister Piyush Goyal said that “talks are continuously progressing with the US and that India is moving forward towards a bilateral trade agreement,” as per a PTI report.
India-US trade dynamics
In August, US President Donald Trump doubled tariffs on several Indian imports to as high as 50%, including 25% tariff as a punishment for purchasing Russian oil. The tariff impacted shipments of textiles, chemicals and food products such as shrimp, as the US remained India’s largest trading partner for the fourth consecutive year in 2024-25 with bilateral trade valued at $131.84 billion.
However, exports to the US fell nearly 9% year-on-year in October to $6.31 billion from $6.91 billion a year ago, though they were higher than $5.47 billion in September, Indian government data showed.
US presses India to open market for American farm goods
Washington is pushing India to lower tariffs and non-tariff barriers on US goods and open its market to American farm products, including soybean and grain sorghum.
US Trade Representative Jamieson Greer told lawmakers on Tuesday that India had resisted greater imports of US farm and meat products but had been “quite forward leaning” in the latest round of talks.
