Key facts
- India seeks a competitive tariff edge over regional peers like Vietnam.
- New Delhi is pushing for terms better than those offered to other Asian economies.
- U.S. Trade Representative Jamieson Greer is visiting India for trade talks.
- An initial trade understanding was reached in February.
- The U.S. Supreme Court invalidated Trump's global tariffs.
India and the U.S. are nearing a trade deal, with New Delhi aiming to secure a "competitive advantage" over peers such as Bangladesh and Vietnam in the American market. U.S. Trade Representative Jamieson Greer is visiting India for two days of talks, which are crucial for mending strained ties. President Donald Trump stated that the two nations are "pretty close" to finalizing the agreement. An initial understanding on trade was reached in February, but uncertainty persists over a continuing U.S. Section 301 probe into alleged overcapacity and forced labor. The U.S. Supreme Court's invalidation of Trump's global tariffs has also complicated negotiations. Commerce and Industry Minister Piyush Goyal expressed hope for a deal before Washington's temporary 10% tariff expires on July 24, stating, "The faster, the better."