Meet with Jamieson Greer today; Piyush Goyal says India seeking export edge in US trade deal
Speaking at an event here, Goyal said he would be “happy” if a deal was completed before July 24, when Washington’s temporary 10% tariff on trading partners ends. However, he reiterated that India did not negotiate on deadlines.
“The faster the better,” he said, adding that negotiations took longer than initially expected because India was subject to 50 per cent tariffs at one stage.
“We have gone through negotiations for the past one year and generally everything has been resolved… Despite all the areas of concern, India has insisted on protecting the interests of farmers and fishermen. We were sure of some red lines that we would not cross,” Goyal said.
Greer and Goyal are scheduled to meet on June 23-24.
The USTR Office said Greer will travel to New Delhi to meet with Goyal and other senior Indian officials to discuss the “historic U.S.-India joint statement and interim agreement as part of broader U.S.-India bilateral trade agreement negotiations” to ensure “fair, balanced, and reciprocal trade with the United States.”
Goyal said India has signed several trade agreements but has not opened up dairy, “which is a very sensitive sector” and it is not a matter of getting brownie points as a unilateral agreement can never last for long. The two countries remain “seriously engaged” in expanding cooperation in defence, critical minerals and investment.
“India never negotiates a deadline. On July 24, the 10% tariff will end. It will end in the US too. And that is not something I need to worry about… I will be the happiest person if the first tranche of BTA is completed before July 24,” he said.
“My interest is in the completion of this project… if I can gain a competitive advantage over other rival countries, my neighbors, our northern neighbor China… Be it Asean countries, Vietnam, Indonesia, countries with which we are in direct competition,” Goyal said. “The faster the better because we can start exporting more goods to the US. But remember that both the US and India have a very deep strategic partnership. Trade is one element of our partnership,” he added.
