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Piyush Goyal, Greer To Discuss Tariffs And India-US Trade
Piyush Goyal of India may meet Jamieson Greer of the United States this week.
They are expected to talk about trade between the two countries.
One issue is a possible US tariff on countries that buy Russian oil.
The tariff could be as high as 100%, but President Donald Trump has not made a final decision.
The United States is also investigating India over claims of excess manufacturing capacity.
India says its purchases of Russian oil help meet its energy needs.
India also says its manufacturing growth shows economic progress rather than a trade problem.
The countries are still working on a broader trade agreement.
Union Commerce Minister Piyush Goyal is expected to meet United States Trade Representative Jamieson Greer this week in Milwaukee, Wisconsin.
The talks are expected to cover possible US tariffs on countries buying Russian oil, including a potential rate of up to 100%.
India also faces a US Section 301 investigation over alleged excess manufacturing capacity and an additional 10% tariff on certain goods linked to forced-labor concerns.
Indian exporters want clarity on the Russia-related tariffs and the Section 301 investigation ahead of the G20 Trade Ministerial.
Negotiations on an India-US trade agreement continue, with India seeking a mechanism for a competitive tariff advantage.
- Who
- Union Commerce Minister Piyush Goyal and United States Trade Representative Jamieson Greer are expected to meet.
- What
- They are expected to discuss tariffs, Russia-related oil trade, US trade investigations and the India-US trade agreement.
- Where
- On the sidelines of the Group of Twenty Trade Ministerial in Milwaukee, Wisconsin.
- When
- The meeting is expected this week; Goyal is likely to travel to the United States late Monday.
- Why
- The discussions are intended to address growing trade concerns and continuing negotiations on a bilateral trade agreement.
India's Position
United States Concerns
Russian oil purchases
India's Position
India is expected to argue that its Russian oil purchases are necessary for domestic energy security.
United States Concerns
The United States is considering tariffs of up to 100% on countries purchasing Russian oil, though the final scope and rate have not been decided.
Manufacturing capacity
India's Position
India is expected to say that its manufacturing expansion reflects economic growth rather than excess capacity.
United States Concerns
The United States is investigating India under Section 301 over allegations of excess manufacturing capacity.
Trade agreement
India's Position
India wants a mechanism ensuring it receives a competitive tariff advantage in the proposed trade agreement.
United States Concerns
The United States is continuing discussions on trade principles, restrictions, forced labor in supply chains and excess capacity.
Key facts
- Expected participants
- Piyush Goyal and Jamieson Greer
- Meeting setting
- Group of Twenty Trade Ministerial
- Location
- Milwaukee, Wisconsin
- Proposed Russia-related tariff
- The United States could consider tariffs of up to 100% on countries purchasing Russian oil.
- Existing additional tariff
- The United States has imposed an additional 10% tariff on certain Indian goods following a separate Section 301 investigation.
- Trade investigation
- India faces a US Section 301 investigation concerning allegations of excess manufacturing capacity.
- Trade agreement
- India-US negotiations are continuing, with New Delhi seeking a mechanism for a competitive tariff advantage.
Sources
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