Daijiworld Media Network - New Delhi
New Delhi, Jun 21: India and the United States are set to hold ministerial-level trade discussions this week as both countries work towards finalising the framework for the first phase of the proposed Bilateral Trade Agreement (BTA) before a crucial US tariff deadline next month.
Union Commerce and Industry Minister Piyush Goyal said US Trade Representative Jamieson Greer will visit New Delhi for a two-day meeting, during which both sides will review progress and push negotiations forward.
Speaking to reporters, Goyal said his US counterpart would be arriving in the capital to continue discussions on the proposed trade pact.
Commerce Secretary Rajesh Agrawal had earlier stated that the talks would primarily focus on finalising the framework agreement and advancing negotiations on the broader bilateral trade arrangement.
Earlier this month, Goyal had expressed confidence that India and the US were moving closer to resolving outstanding issues in the interim trade deal and that the first phase of the agreement could be concluded by the middle of next month.
The upcoming discussions carry added significance as the 10 per cent temporary tariff imposed by the United States on all trading partners is scheduled to expire on July 24.
The tariff, introduced by the US administration in February, is levied in addition to the existing Most Favoured Nation (MFN) duty rates. Once the 150-day period ends, Washington is expected to introduce a revised tariff structure.
The ministerial meeting follows a round of chief negotiator-level discussions held in New Delhi from June 2 to June 4 as both countries sought to accelerate progress on the proposed agreement.
The negotiations are also taking place against the backdrop of ongoing investigations by the Office of the US Trade Representative (USTR) under Section 301 of the US Trade Act of 1974 involving several countries, including India.
The investigations are focused on concerns related to excess industrial capacity and labour practices within global supply chains.
In June, the USTR proposed additional tariffs on imports from multiple countries, including India, citing concerns over alleged forced labour practices in supply chains. The proposal remains under consultation and has not yet been finalised.
Officials expect this week's ministerial engagement to inject fresh momentum into the negotiations and help both sides move closer to concluding the first tranche of the proposed Bilateral Trade Agreement.