Goyal meets US Commerce Secretary for 2nd time in a week to discuss proposed trade pact

COMMERCE and Industry Minister Piyush Goyal on Friday met US Commerce Secretary Howard Lutnick in Washington, their second meeting within a week, to discuss the proposed bilateral trade agreement currently under negotiation between the two countries.

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On May 20 also, Goyal held a meeting with Lutnick to expedite the talks on the first phase of the trade pact.

"Held a constructive meeting with Secretary @HowardLutnick for a mutually beneficial trade agreement. Committed to enhancing opportunities for our businesses and people," Goyal said in a post on X.

The meeting assumes significance as both the countries are looking at finalising an interim trade pact by July 9, the day America's 90-day suspension of reciprocal tariffs on Indian goods comes to an end.

The US on April 2, imposed an additional 26 per cent reciprocal tariff on Indian goods but suspended it for 90 days. However, the 10 per cent baseline tariff imposed by America remains in place.

The four-day discussions between the chief negotiators of both the countries have also concluded in Washington on May 22.