India-US Trade Talks Gain Momentum Ahead Of Tariff Deadline: Piyush Goyal

(MENAFN- KNN India) New Delhi, July 15 (KNN) Commerce and Industry Minister Piyush Goyal on Monday confirmed that trade negotiations between India and the United States are advancing rapidly, as a high-level Indian delegation arrived in Washington for a week-long round of intensive discussions.

“Trade talks between the two nations are going at a fast pace, in the spirit of mutual cooperation, so that we can come out with a win-win agreement,” Goyal stated.

The Indian team, led by Chief Negotiator and Special Secretary, Commerce Department, Rajesh Agrawal, returned to Washington less than two weeks after the previous round of discussions concluded.

Their visit comes in the backdrop of an extended deadline set by the US administration for imposing reciprocal tariffs, now pushed to July 31.

Negotiations have reached a critical juncture as both countries attempt to reach an interim trade agreement ahead of August 1, to avoid potential tariff escalations.

The US has threatened to impose country-specific reciprocal duties of up to 26 percent on nations that fail to conclude deals, under new trade directives introduced by President Donald Trump.

Since July 8, President Trump has issued formal notifications to over two dozen trade partners, warning of steep tariff hikes-ranging from 20 to 50 percent-effective from August 1, unless negotiations are concluded.

For others, tariff rates are expected to rise to 15–20 percent, up from the current 10 percent. India, so far, has not been included in the list, but uncertainty remains.

Agriculture and dairy access remain among the most sensitive issues, with the US pushing for greater entry into the Indian market.

India has so far resisted including politically sensitive items from these sectors, despite sustained US pressure.

While comprehensive trade negotiations remain ongoing, both governments are focusing on a narrower, tariff-centric deal for the current phase, with the goal of de-escalating tensions and building momentum for a broader agreement.

(KNN Bureau)

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