India-US Trade Talks Gain Momentum with Piyush Goyal's US Visit and Tariff Pause
Published on 5.24.25
India and the US have been engaged in trade negotiations for some time now, with both sides seeking concessions from each other. The recent visit by Indian Commerce Minister Piyush Goyal to the US is a significant development in this context. As part of these talks, India has expressed hopes for a "mutually beneficial trade agreement" with the US.
The US has suspended additional tariffs on India until July 9, allowing both countries to use the 90-day tariff pause window to advance trade talks. During these talks, India is seeking duty concessions in labour-intensive sectors such as textiles, gems and jewellery, while the US wants concessions for industrial goods like automobiles, particularly electric vehicles.
Despite challenges posed by rising global protectionism, which has led to new tariffs on imports from various countries including a 26% levy on India, both sides seem committed to finding common ground in their negotiations.