The trade deal with the United States (US) is taking a little longer to sign due to the 50 per cent tariff imposed on goods from the country, said union Minister for Commerce and Industry Piyush Goyal on Monday the 22nd of June 2026.
Goyal was addressing a media conclave added that “India aims to gain preferential access through the trade pact with the US.”
US Trade Representative Jamieson Greer will hold series of meeting with Piyush Goyal in the National Capital on the first phase of the bilateral trade agreement.
Earlier US delegation visited India from June 1 to 4 to finalize the details of the interim trade agreement and take forward negotiations under the broader Bilateral Trade Agreement (BTA).
The visit was aimed at finalizing the details of the interim agreement and advancing negotiations under the broader BTA across multiple areas such as market access, non-tariff measures, customs and trade facilitation, investment promotion, and economic security alignment.
On 7th of February earlier this year, India and the United States issued a joint statement agreeing on a framework for an interim agreement on reciprocal and mutually beneficial trade.
Later, from April 20 to 23, the Indian side visited Washington, D.C., for in-person rounds of meetings with their US counterparts.
The framework reaffirmed both sides’ commitment to the broader India-US Bilateral Trade Agreement negotiations.
US Secretary of State Marco Rubio also recently visited India. During his visit, US Secretary said India had committed to purchasing $500 billion worth of US goods over the next five years, with a focus on energy, technology and agriculture.
