Market access to non-tariff barriers: India, US review trade core elements, Pg1

Key Highlights:

• India and the US concluded two days of negotiations in Delhi for a bilateral trade deal.
• The discussions covered enhanced market access, digital trade, supply chain resilience, and reduction of non-tariff barriers.
• The US delegation was led by United States Trade Representative (USTR) Jamieson Greer, who met with Union Minister Piyush Goyal and Finance Minister Nirmala Sitharaman.
• The talks aim to deepen economic ties and strengthen the India-US Comprehensive Global Strategic Partnership.
• These negotiations occurred ahead of potential new US tariffs under Section 301 of the US Trade Act.

Detailed Insights:

• The negotiations focused on concluding an interim agreement as an important milestone towards a comprehensive Bilateral Trade Agreement (BTA).
• Both nations reaffirmed their commitment to an agreement that is balanced and commercially meaningful, delivering tangible benefits for businesses and consumers.
• The US is actively exploring tech export opportunities in India, particularly in Artificial Intelligence (AI) and future technologies.
• Experts have raised concerns about the US's use of Section 301 investigations, even against countries with existing trade agreements.
• The US recently launched Section 301 investigations against Germany and Vietnam, highlighting this ongoing concern.
• The trade discussions follow a recent meeting between President Donald Trump and Prime Minister Narendra Modi at the G7 summit in Evian, France, held from June 15-17, 2026.

Key Concepts Involved:

• Bilateral Trade Agreement (BTA): A trade agreement between two countries to set terms and conditions for trade, aiming to encourage economic cooperation and remove barriers.
• Non-Tariff Barriers (NTBs): Trade restrictions that do not involve traditional taxes or tariffs, such as regulations, standards, quotas, and import licensing.
• Section 301 of the US Trade Act: A unilateral US trade law tool that authorizes the USTR to investigate and act against foreign trade practices deemed unfair or discriminatory, potentially leading to retaliatory tariffs.
• Comprehensive Global Strategic Partnership: A high-level diplomatic and economic relationship signifying deep cooperation across various sectors, established between India and the US in 2020.