FX.co ★ India, U.S. Resume Trade Talks as Goyal Heads to Washington

India's Trade Minister, Piyush Goyal, is set to visit Washington on September 22 to advance a long-standing trade agreement. This follows renewed discussions that took place last week. According to an official statement, "The delegation aims to progress the discussions toward finalizing a mutually beneficial trade agreement." On September 16, U.S. Assistant Trade Representative Brendan Lynch met with Indian officials, led by Chief Negotiator Rajesh Agrawal, in New Delhi. The discussions were characterized as "positive" and "forward-looking" following President Trump's easing of his stance after imposing punitive tariffs on Indian goods due to India's purchase of Russian oil. Nonetheless, it is uncertain if India will address contentious issues, such as increased visa fees, pressure to reduce Russian oil imports, or U.S. demands to open its agricultural and dairy markets. In a move to pressure Moscow, Trump had previously increased tariffs on Indian imports to 50% from August 27.