New Delhi: US Ambassador to India Sergio Gor on Tuesday said India and the US were moving decisively towards finalizing their bilateral trade agreement and advancing an “ambitious trade agenda”. US Trade Representative (USTR) Ambassador Jamieson Greer is visiting New Delhi for trade discussions.
“We are moving decisively toward finalizing a strong bilateral trade agreement that will unlock new economic opportunities for both countries and significantly deepen the US-India economic partnership,” Gor said in a post on X.
In a separate post, Gor said he met commerce and industry minister Piyush Goyal and Greer. “Great to be with minister and USTR Ambassador Greer today in New Delhi. Ongoing discussions on finalizing the trade deal between the US and India,” he said. The remarks indicate continued engagement between the two sides on efforts to conclude the proposed trade agreement.
Replying to the US Ambassador’s post, Goyal said welcomed Greer and his delegation and said: “Looking forward to productive discussions on the bilateral trade agreement.”
The discussions will focus on implementing the US-India joint statement and an interim trade agreement being negotiated as part of the broader US-India bilateral t (BTA) framework.
The negotiations were launched following talks between US President Donald Trump and India’s Prime Minister Narendra Modi on 13 February 2025. Greer’s visit comes amid efforts by both countries to deepen economic ties and address market access issues through a comprehensive trade pact.
India and the US formally launched BTA negotiations on 13 February 2025, and the first glimpse of the emerging deal appeared in the India-US joint statement issued on 6 February 2026.
Washington promised to reduce its reciprocal tariff on Indian exports from 25% to 18%. In return, India signaled willingness to lower tariff on US industrial and agricultural products, ease access for American medical devices and farm goods, facilitate cross-border data flows, accept digital trade commitments, align more closely with US economic and security priorities, and potentially purchase up to $500 billion of US goods over five years.
However, before the agreement could be finalized, the basis of the offer came under question. On 20 February 2026, the US Supreme Court ruled that President Trump’s reciprocal tariffs breached the authority granted under the International Emergency Economic Powers Act, effectively invalidating the legal foundation of the tariff regime. And the tariff concession Washington had offered—reduction from 25% to 18%—effectively disappeared overnight.
Within hours of the ruling, Washington imposed a temporary 10% tariff on imports from all trading partners under Section 122 of the Trade Act of 1974. The measure can remain in force for up to 150 days without Congressional approval and is scheduled to expire on 24 July 2026.