'A win-win for both nations!' Three-day India-US trade talks to begin this week

India and the United States are set to resume trade talks this week, taking a “great step to finalize” the proposed agreement. Taking to social media platform X, US Ambassador to India Sergio Gor said “The Indian trade delegation will be arriving in Washington this week. A great step to finalize our bilateral trade deal. A win-win for both nations!”Commenting on the visit Union minister Piyush Goyal said that the first tranche of the trade deal is almost finalised."We have almost finalised the first tranche of bilateral trade agreement with them... We are trying to work out what would be the mechanism on which India would get a preferential access in the US market compared to our competitors. The team will be discussing this while they are in Washington." This week, a delegation of around a dozen officials will be travelling from New Delhi to Washington for discussions on the first phase of the proposed bilateral trade agreement (BTA). The talks are scheduled from April 20 to 22 and will be led by India’s chief negotiator Darpan Jain, additional secretary in the department of commerce. The team will also include officials from the customs department and the ministry of external affairs.The negotiations come against the backdrop of recent changes in the US tariff system, prompting both sides to revisit parts of the trade agreement finalised earlier this year and released on February 7.A key development was the US Supreme Court striking down reciprocal tariffs imposed under the 1977 International Emergency Economic Powers Act. Following this, the US administration introduced a temporary flat 10% tariff on all countries for 150 days from February 24.These changes led to the postponement of a planned February meeting between the chief negotiators. The rescheduled talks in Washington will now proceed under the revised tariff framework.Alongside tariff issues, the discussions are also expected to cover two investigations initiated by the US Trade Representative under Section 301 of its trade law. India has refuted the allegations and is seeking withdrawal of the probes, arguing that the initiation notices do not provide adequate justification.