Officials from India and the U.S. have advanced discussions on trade matters, focusing on reducing tariffs and easing non-tariff barriers to move closer to a bilateral trade deal. The talks took place in New Delhi from March 26-29, led by India’s commerce ministry and a U.S. trade delegation headed by Brendan Lynch, assistant U.S. trade representative for South and Central Asia.
In a separate engagement, U.S. Deputy Secretary of State Christopher Landau and Indian Foreign Secretary Vikram Misri discussed efforts to address trade barriers and establish a balanced bilateral trade relationship. They also emphasized enhancing defense and technology collaboration to enhance regional security.
Acknowledging India’s efforts in addressing illegal immigration, Landau expressed gratitude and encouraged ongoing cooperation, as mentioned in a statement from the U.S. Department of State.
The negotiations are significant as President Donald Trump plans to implement reciprocal tariffs on various trading partners starting April 2. India is hopeful for an exemption as discussions progress. Both nations are aiming to finalize the initial phase of a bilateral trade deal by autumn.
The successful outcome of the talks demonstrates advancements in expanding India-U.S. trade and investment relations with a focus on promoting prosperity, security, and innovation in both countries, as stated by India’s commerce ministry.
During Prime Minister Narendra Modi’s recent visit to Washington, India committed to increasing purchases of U.S. energy products and defense equipment, with a shared goal of achieving $500 billion in bilateral trade by 2030. Trump has urged India to lower tariffs on various products and improve market access for U.S. companies.
Piyush Goyal, India’s trade minister, held discussions with U.S. Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick in Washington this month. The statement mentioned that sector-specific expert engagements for the bilateral trade agreement will kick off virtually in the upcoming weeks, followed by an in-person negotiation round.
Currently, the U.S. faces a trade deficit of $45.6 billion with India. The average tariff rate in the U.S. is approximately 2.2%, significantly lower than India’s average tariff of 12%, based on World Trade Organization data.
