India and the United States are close to finalizing their initial bilateral trade agreement, with discussions set to address tariffs governed by the US trade law’s Section 301. Relief from ongoing Section 301 investigations is a key area of interest, as per government sources.
The trade deal would grant Indian exports preferential access over competitors. Negotiations, integral to the broader BTA framework encompassing market access, non-tariff barriers, customs facilitation, and economic security cooperation, are now concentrating on resolving technicalities and formalizing the legal text.
Nearly 99% of the negotiations have been wrapped up, with a few minor issues pending, stated Minister of Commerce and Industry, Piyush Goyal. Talks between the two parties are slated from June 2 to June 4, leading to the anticipated formal announcement of the agreement’s first phase.
“We will soon announce the signing of the first BTA with the US and continue discussions on the second phase,” affirmed the minister. While most discussions have concluded, efforts are underway to address remaining concerns before progressing to the agreement’s subsequent phase.
The US delegation, spearheaded by chief negotiator Brendan Lynch, will engage with India’s team led by Darpan Jain, Additional Secretary in the Department of Commerce. The US Section 301 probe encompasses India and China among 60 economies, investigating whether their policies on forced labor-related imports unreasonably impact US commerce.
