India and the US are in talks regarding reciprocal tariffs and a Bilateral Trade Agreement (BTA). Commerce Minister Piyush Goyal met with US Trade Representative Jamieson Greer for discussions ahead of US tariff implementation on April 2. The BTA aims to enhance market access and reduce barriers, with India working to propose tariff reductions to address US demands.
India and the US are engaging in discussions regarding reciprocal tariffs and the first phase of a Bilateral Trade Agreement (BTA). Indian Commerce Minister Piyush Goyal met with US Trade Representative Jamieson Greer to negotiate these important trade matters. The US plans to implement reciprocal tariffs starting April 2, prompting these urgent discussions.
During their meeting, Goyal and Greer exchanged views on expanding market access and aligning with President Trump’s America First Trade Policy. Goyal characterized the dialogue as forward-looking, emphasizing a mutually beneficial BTA guided by the principles of “India First” and the country’s aim for a Developed India (‘Viksit Bharat’).
Prime Minister Narendra Modi and President Trump had previously announced intentions to finalize the first phase of the BTA within seven to eight months. This agreement aims to enhance market access, reduce tariff and non-tariff barriers, and boost supply chain integration.
India is working on a proposal to finalize the BTA while balancing domestic sensitivities. The government’s strategy includes identifying products for tariff reductions to mitigate the impact of impending US tariffs. While India seeks exemptions from these tariffs, ongoing discussions indicate a challenge, as President Trump maintains that India’s high tariffs will hinder any preferential treatment.
The discussions between India and the US highlight ongoing negotiations surrounding reciprocal tariffs and the Bilateral Trade Agreement. Commerce Minister Piyush Goyal’s dialogue with US Trade Representative Jamieson Greer emphasizes a proactive approach to foster trade that aligns with both nations’ interests. India’s commitment to balancing internal demands while negotiating with the US remains crucial as they navigate these complex trade relations.
Original Source: www.business-standard.com
