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Informist, Thursday, Feb. 26, 2026

 

--Minister Goyal: Engaged in frutiful talks with US' Lutnick, Gor on trade

--Minister Goyal: Engaged in talks with US' Lutnick, Gor on econ partnership

 

NEW DELHI – Commerce Minister Piyush Goyal Thursday met US Secretary of Commerce Howard Lutnick and US Ambassador to India Sergio Gor, during which the three discussed expanding trade and economic partnership between the two countries. 

 

"Hosted US Secretary of Commerce @HowardLutnick & @USAmbIndia Sergio Gor. Engaged in very fruitful discussions to expand our trade and economic partnership," Goyal said in a post on X, formerly Twitter. This is the first pubic meeting of Indian and American officials since talks scheduled this week on a bilateral trade agreement were postponed. India and the US had postponed a scheduled meeting of their chief negotiators after the US Supreme Court Friday struck down most of the tariffs imposed by President Donald Trump.

 

Goyal on Tuesday said India will resume talks with the US on a bilateral trade agreement once clarity emerges on the tariff situation. 

 

The US Supreme Court struck down most of the tariffs imposed by Trump, noting that the president had exceeded his powers by imposing import duties on most of the country's trade partners. After the court's decision, Trump imposed a baseline 10% tariff on all US imports for 150 days, which came into effect Tuesday. Trump also threatened to raise the baseline tariff to 15%, but is yet to sign an executive order to implement the higher rate.

 

India and the US had announced a trade deal earlier this month, under which Washington had agreed to cut reciprocal tariffs on Indian goods to 18% and scrap the 25% punitive tariffs for New Delhi's energy purchases from Russia. India's trade surplus with the US narrowed in January to $2.1 billion from $4.8 billion a year ago. India exported goods worth $6.60 billion to the US in January, down 22% on year. Imports from the US rose over 24% on year to $4.49 billion last month. India had a trade surplus of $28.53 billion with the US in Apr-Jan, down from $29.88 billion a year ago.  End

 

US$1 = INR 90.89

 

Reported by Shubham Rana

Edited by Tanima Banerjee

 

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