India accelerates trade negotiations with US during Goyal's visit today
What's the story
India's Commerce and Industry Minister, Piyush Goyal will meet with Trump adminitration officials in Washington DC today. The visit comes amid the ongoing tariff tensions between India and the United States. Goyal's main objective during this trip will be to negotiate a "mutually beneficial" trade deal and reduce friction over the 50% tariffs imposed on Indian goods, amid tensions related to India's purchase of Russian oil.
Delegation exchange
Visit is a follow-up to American delegation's trip to India
The Ministry of Commerce and Industry said Goyal's visit is a follow-up to an American delegation's trip to India on September 16. "Positive discussions were held on various aspects of the trade deal, and it was decided to intensify efforts in this regard," the ministry added. This visit comes after Goyal met his American counterpart Howard Lutnick during his last trip in May this year.
Trade tensions
Trump's push for Europe to impose more sanctions on India
Goyal's trip comes as Trump pushes Europe to impose more sanctions on India and China, the largest consumers of Russian oil. The US President has also recently announced a $100,000 application fee for H-1B visas, worrying many Indian workers in America. The Indian government responded by saying this move could have "humanitarian consequences by way of the disruption caused for families."
Trade negotiations
Sticking points in US-India trade talks
Earlier this year, the US and India had agreed that the bilateral trade deal would be finalized by fall. However, talks stalled as both sides took a hard stance and Trump pressured New Delhi over its ties with Moscow. A major sticking point is Washington's demand for greater access to India's dairy and farm sectors, which New Delhi is hesitant to open up.