Goyal-Greer Meeting to Advance India-US Interim Trade Deal Talks
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Commerce Minister Piyush Goyal to meet US Trade Representative Jamieson Greer on the sidelines of the G20 Trade Ministers’ Meeting in Milwaukee
Commerce and Industry Minister Piyush Goyal is set to meet US Trade Representative (USTR) Jamieson Greer later this week as India and the United States work towards an interim trade deal under the broader proposed Bilateral Trade Agreement (BTA). The meeting will take place on the sidelines of the G20 Trade Ministers’ Meeting in Milwaukee, Wisconsin, as both sides continue discussions on outstanding issues.
Goyal will travel to the US from September 29 to October 5. The G20 Trade Ministerial is scheduled for September 30 and October 1, with the Goyal-Greer meeting expected to focus on advancing the interim component of the proposed India-US trade agreement.
Talks Linked to February 7 Joint Statement
The February 7 joint statement established the framework for negotiations between India and the US, including work towards an interim trade agreement as part of the wider BTA.
Goyal will also hold bilateral discussions with trade ministers from other G20 members. According to the commerce ministry, India will use these engagements to expand opportunities for farmers, fishermen, women entrepreneurs, startups, micro, small and medium enterprises (MSMEs), and other enterprises.
At the G20 meeting, India will advocate for a rules-based, open, inclusive, transparent, equitable and non-discriminatory multilateral trading system, with the World Trade Organisation (WTO) at its core. India will also emphasise the importance of maintaining adequate policy space for developing countries.
US Push for Changes to Global Trade Rules
The US is hosting the G20 trade ministers’ gathering, representing nations that account for 85% of global GDP and up to 80% of world trade. Washington is expected to use the meeting to advance its trade and economic priorities.
One of the key proposals on the US agenda is to “update” the WTO’s foundational Most-Favoured-Nation (MFN) principle. The MFN rule is a central element of the global trading system and requires unconditional and non-discriminatory treatment among trading partners.
The USTR is advocating greater reciprocity, strategic alignment and conditional market access. Alongside proposed MFN reforms, the US is also expected to push G20 members to address structural excess production capacities and eliminate forced labour from global supply chains.
Forced Labour and Excess Capacity on Agenda
Following investigations into major exporter economies, Washington has imposed duties ranging from 10% to 12% on 60 economies over forced labour concerns. Its investigation into global excess capacity remains underway.
The G20 meeting will include a session on excess steel capacity, as the US seeks to strengthen domestic manufacturing of the key industrial input.
The meeting is also expected to discuss the “weaponisation of trade in food”. The US has raised concerns about the impact of broader trade disputes on its domestic agricultural sector.
Washington has also highlighted retaliatory tariffs imposed by foreign trading partners on US agricultural exports, including soybeans, pork and corn, following the imposition of broad unilateral tariffs.
Goyal to Meet US Business Leaders
During his US visit, Goyal will meet chief executives of leading American companies from the manufacturing, consumer goods, agri-business, retail and technology sectors in Milwaukee and Chicago.
Through business meetings and roundtables, he will highlight investment and manufacturing opportunities in India and encourage US companies to deepen partnerships with Indian businesses.