Piyush Goyal discusses bilateral trade issues with US leaders

With an aim to speed up India-US trade negotiations, Commerce and Industry Minister Piyush Goyal has met the US Ambassador to India, Sergio Gor, and American Senator Steve Daines and discussed bilateral issues. This meeting hold significance as India and the US are engaged in negotiating a bilateral trade agreement amidst a steep 50 per cent import duty imposed by the Donald Trump administration on Indian goods since August, including a 25 per cent additional import duty for India's purchase of Russian crude oil.

Gor, known to be a key member of US President Donald Trump's inner circle, took over as the Ambassador recently. Meanwhile, he had asserted that both sides are actively engaged to firm up a trade deal. Republican Senators Steve Daines of Montana and Kevin Cramer of North Dakota have urged President Trump to push for favourable provisions for pulse crops in any future trade deal with India, saying American producers face a ‘significant competitive disadvantage’ due to what they described as ‘unfair’ tariffs imposed by New Delhi.

The US remains India’s largest trading partner for the fourth consecutive year in 2024-25, with bilateral trade valued at $131.84 billion, including $86.5 billion in exports from India. US markets account for around 18% of India’s total goods exports, 6.22% of imports, and 10.73% of total merchandise trade.