Archive · 1 Oct 2026
Goyal Leads India at G20 Trade Talks Amid US Deal
Trade ministers from major countries are meeting in Milwaukee to discuss how countries should trade with one another.
India is represented by Commerce Minister Piyush Goyal.
The ministers are talking about steel production, supply chains and rules for international trade.
They also agreed on a framework for working together on excess steel production.
The United States wants stronger action against problems such as forced labour and industrial overcapacity.
India wants trade rules to remain open, fair and centered on the World Trade Organization.
India and the United States are also working on an interim trade deal and a larger agreement.
Goyal is asking American companies to invest in India and work with Indian businesses.
Prime Minister Narendra Modi and President Donald Trump also discussed trade and other cooperation by telephone.
Piyush Goyal is representing India at a two-day G20 Trade Ministerial in Milwaukee hosted by US Trade Representative Jamieson Greer.
The meeting is addressing steel overcapacity, supply chains, forced labour, food-trade restrictions and possible changes to WTO rules.
Participants agreed to the Milwaukee Framework for coordinated action on excess steel production, including trade remedies and supply-chain monitoring.
India is advocating an open, inclusive, rules-based trading system centered on the World Trade Organization and policy space for developing countries.
India and the United States are continuing negotiations on an interim arrangement and a broader bilateral trade agreement, while Goyal seeks more US investment in India.
- Who
- Piyush Goyal, G20 trade ministers and United States Trade Representative Jamieson Greer; Narendra Modi and Donald Trump also discussed the trade relationship by telephone.
- What
- A two-day G20 Trade Ministerial is examining global trade rules, steel overcapacity, supply chains and India-US trade negotiations.
- When
- The meeting began on September 30, 2026, and is scheduled to continue for two days; Goyal’s broader US visit runs from September 29 to October 5.
- Where
- Milwaukee, United States, including discussions and a visit to Rockwell Automation.
- Why
- The ministers are responding to tariff tensions, excess industrial capacity and disagreements over international trade rules, while India and the United States pursue bilateral trade arrangements.
India’s Multilateral Approach
US Reciprocal-Trade Approach
Future of trade rules
India’s Multilateral Approach
India wants to preserve an open, inclusive and rules-based multilateral system with the World Trade Organization at its core, while retaining policy space for developing economies.
US Reciprocal-Trade Approach
The United States wants a global trading order based on fair, reciprocal and balanced trade and is placing changes to some existing rules on the agenda.
Most-Favoured-Nation principle
India’s Multilateral Approach
India’s stated position emphasizes established multilateral rules and flexibility for developing countries.
US Reciprocal-Trade Approach
The United States wants to discuss updating the Most-Favoured-Nation principle, a foundation of the WTO trading system.
Industrial overcapacity
India’s Multilateral Approach
India is promoting investment, advanced-manufacturing co-investment and partnerships between US manufacturers and Indian small and medium enterprises.
US Reciprocal-Trade Approach
The United States is seeking coordinated action against excess capacity, including stronger trade remedies, steel supply-chain monitoring and scrutiny of transhipment.
- Meeting
- G20 Trade Ministerial in Milwaukee
- Indian representative
- Commerce and Industry Minister Piyush Goyal
- US host
- United States Trade Representative Jamieson Greer
- Steel outcome
- Participants agreed to the Milwaukee Framework for coordinated action against excess steel capacity.
- India-US negotiations
- The countries are pursuing an interim trade arrangement and a broader Bilateral Trade Agreement.
- India’s position
- India supports a rules-based, open, inclusive, transparent, equitable and non-discriminatory system centered on the World Trade Organization.
- US agenda
- The United States is seeking action on forced labour, Most-Favoured-Nation rules, food-trade restrictions and structural excess capacity.
