Piyush Goyal Visits US to Negotiate Trade Deal

Indian Commerce and Industry Minister Piyush Goyal will visit the United States from September 29 to October 5 to attend the G20 Trade Ministers' meeting in Milwaukee, Wisconsin. Goyal is scheduled to meet United States Trade Representative Jamieson Greer to advance a bilateral trade agreement and finalize an interim deal based on a February 7, 2026, framework. This proposed agreement would see India reduce tariffs on US industrial and agricultural goods in exchange for a 18 per cent reciprocal tariff on Indian goods.

Negotiations are complicated by several legal and political hurdles. The Supreme Court of the United States previously invalidated the legal basis for preferential tariffs, stalling the interim agreement. Furthermore, the US has launched a Section 301 investigation into India's alleged excess manufacturing capacity and has already imposed a 10% tariff on certain goods following a probe into forced labor in supply chains.

Significant tension exists over the September 18 enactment of the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026. This law authorizes tariffs of up to 100% on major purchasers of Russian oil, subject to the final decision of President Donald Trump. India has warned that such sanctions could damage bilateral relations and international energy markets. Beyond official talks, Goyal will visit Chicago and Milwaukee to meet with American CEOs and the Indian diaspora to promote India as a destination for manufacturing and investment.