2 hrs ago

India, US Seek Early Interim Bilateral Trade Agreement

India and the United States are trying to make a new trade agreement.

India’s commerce minister, Piyush Goyal, met US Trade Representative Jamieson Greer to discuss an early temporary deal.

The meeting happened after Narendra Modi and Donald Trump spoke by phone.

The leaders discussed trade, defense, energy and important technologies.

The temporary agreement could help resolve some trade problems while the larger agreement is negotiated.

These problems include tariffs and rules about selling goods in each country.

India is also watching possible US penalties because it buys crude oil from Russia.

Both countries say they want to keep working together on the agreement.

Key facts

Main negotiators: Piyush Goyal and US Trade Representative Jamieson Greer
Agreement under discussion: An interim agreement within the broader India-US Bilateral Trade Agreement
Related leaders’ call: Narendra Modi and Donald Trump reviewed bilateral cooperation before the trade officials’ meeting
Key negotiation issues: Tariffs, market access and other trade barriers
Additional uncertainty: Possible US tariffs of up to 100% under legislation concerning purchases of Russian crude oil or natural gas
G20 setting: The meeting occurred alongside the G20 Trade Ministers’ Meeting under the US chairship
Goyal’s visit: September 29 to October 5 for the G20 meeting and bilateral discussions

financialexpress.com · 2 hrs ago