BTA: India, US discuss expediting conclusion of first phase

New Delhi: Commerce and Industry Minister Piyush Goyal on Tuesday held discussions with US Commerce Secretary Howard Lutnick in Washington to expedite negotiations on the first phase of the proposed bilateral trade agreement (BTA) between the two countries.

Goyal is in Washington for a ministerial-level meeting to review the progress of negotiations of the trade pact.

“Good discussions with Secretary @HowardLutnick towards expediting the first tranche of India-US Bilateral Trade Agreement,” Goyal said in a post on X.

Goyal was in Washington in March also for the trade talks.

The minister-level meeting is followed by the deliberations between chief negotiators of the two countries, which will continue until May 22.

The meetings come against the backdrop of both countries exploring the possibility of an interim trade arrangement in goods to secure “early mutual wins” ahead of finalising the first phase of the trade agreement by fall (September-October)

this year.

The main issues that will figure in the negotiations include market access, rules of origin, and non-tariff barriers.

Officials from New Delhi and Washington aim to take advantage of the 90-day tariff pause window to advance the talks.

The US has suspended the additional 26 per cent tariffs on India till July 9. It was announced on April 2 to bridge the widening trade deficit.

However, the 10 per cent baseline tariff imposed on the countries will continue to remain in place.