Commerce and Industry Minister Piyush Goyal and US Trade Representative Jamieson Greer on Tuesday held bilateral discussions in New Delhi on issues related to the first phase of the proposed India-US Bilateral Trade Agreement (BTA). Greer is currently in India on an official visit aimed at advancing negotiations on the trade pact.
Welcoming the US delegation, Goyal said in a post on X, "Warm welcome to @USTradeRep Amb Jamieson Greer, @USAmbIndia Amb Sergio Gor and their delegation to @DoC_GoI. Looking forward to productive discussions on the bilateral trade agreement between India and the United States."
The meeting, taking place at Vanijya Bhawan, the headquarters of the Commerce and Industry Ministry, is being attended by Commerce Secretary Rajesh Agrawal and India's Chief Negotiator Darpan Jain, who also serves as Additional Secretary in the Department of Commerce.
The ministerial-level engagement follows a round of chief negotiator-level talks held in New Delhi from June 2 to 4. Earlier this month, Agrawal had indicated that discussions between Goyal and Greer would likely focus on finalising the framework of the first phase of the agreement.
US President Donald Trump had also expressed optimism on June 17, stating that India and the United States were "very close" to concluding the trade deal. On June 5, Goyal said both countries were working to resolve the remaining issues and could finalise the first phase of the "very, very vibrant" trade pact by the middle of next month.
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India and the US had announced the framework for the first phase of the BTA in February. That framework was based on the 50 per cent tariffs imposed by Washington on Indian goods. However, a major development followed when the US Supreme Court, on February 20, struck down the broad tariff measures introduced by the Trump administration.
Subsequently, the US government imposed a 10 per cent tariff under Section 122 of the Trade Act on imports from all countries for a period of 150 days beginning February 24. The temporary measure is scheduled to expire on July 24. Given these changes in the US tariff structure, the ongoing discussions have gained added significance as both sides seek to reassess and update the agreed framework.
Formal negotiations on the Bilateral Trade Agreement were launched on February 13, 2025. Later, on February 7, 2026, India and the US announced that they had reached a framework for an interim trade arrangement aimed at ensuring reciprocal and mutually beneficial trade relations.
According to that framework, the United States had agreed to reduce tariffs on Indian products to 18 per cent from 50 per cent. It had also removed a 25 per cent tariff linked to India's purchases of Russian oil and was expected to lower the remaining 25 per cent tariff to 18 per cent under the agreement. However, the Supreme Court ruling effectively altered the tariff environment that formed the basis of those commitments.
Under the proposed arrangement, India offered to either eliminate or significantly reduce duties on a broad range of US industrial products as well as several agricultural and food items. These included Dried Distillers' Grains (DDGs), red sorghum used for animal feed, tree nuts, fresh and processed fruits, soybean oil, wine and spirits, along with several additional products.
India has also signalled its willingness to purchase around USD 500 billion worth of US goods over the next five years. The proposed purchases include energy products, aircraft and aircraft components, precious metals, technology-related products and coking coal.
With the tariff situation in the United States undergoing major changes, both governments are now reviewing aspects of the original framework. The joint statement issued in February contains a provision allowing either country to revise its commitments if the other side changes its tariff structure.
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