New Delhi (TIP): Commerce and Industry Minister Piyush Goyal met with US Commerce Secretary Howard W Lutnick in Delhi on today – their first since the India-US trade deal was agreed upon. US Ambassador to India Sergio Gor was also present during the meeting, which comes on the heels of the US Supreme Court’s decision to invalidate President Donald Trump’s “reciprocal tariffs”. Following the meeting, Goyal, in a post on social media platform X, said: “I hosted US Commerce Secretary @HowardLutnick and @USAmbIndia Sergio Gor. Very productive discussions were held on expanding the trade and economic partnership.”
“Hosted US Secretary of Commerce @HowardLutnick & @USAmbIndia Sergio Gor. Engaged in very fruitful discussions to expand our trade and economic partnership.”
Gor also posted a photo of the meeting. Its caption read: “Had a very productive lunch with Howard Lutnick and Piyush Goyal. There are many areas of cooperation for our two countries!”
The positive statements from India and the US clearly indicate that both countries are committed to advancing bilateral trade following this meeting.
The negotiators of the trade deal were scheduled to meet in Washington on Monday to finalise the legal agreements necessary to implement the India-US trade deal.
But following the US Supreme Court’s decision, the visit of India’s chief negotiator for the trade deal, Darpan Jain, was postponed due to the turmoil in the international trade world and growing uncertainty regarding tariff rates.
Sources in the Commerce Ministry said: “The two countries have decided that the proposed visit of India’s chief negotiator and his team to the US will be rescheduled after assessing recent developments and their impact. The meeting will be rescheduled to a mutually convenient date.”
Finance Minister Nirmala Sitharaman, after a key meeting with the RBI Governor, said on Monday that it will be premature to comment on the impact on the Indian economy. The Commerce Ministry, she added, is reviewing the situation. The government is studying the developments on the US tariff and their implications, the Commerce Ministry had said on Saturday.
Earlier this week, the US Supreme Court had struck down President Donald Trump’s global tariffs he unilaterally imposed under an emergency powers law, including the sweeping “reciprocal” tariffs. Under the court’s decision, India faces a lower tariff rate of 10 per cent, down from 18 per cent.
Trump, though, has brushed off the court’s 6-3 decision, saying there will be no change. “They will pay tariff, we will not,” he had said.
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