<p>New Delhi: Commerce and Industry Minister Piyush Goyal on Thursday held a meeting with US Secretary of Commerce Howard Lutnick and US Ambassador to India Sergio Gor, and discussed ways to expand trade and economic partnership between the two countries.</p>.<p>Goyal confirmed the meeting through a post on X. The minister informed that he hosted the key aides of US President Donald Trump. “Engaged in very fruitful discussions to expand our trade and economic partnership,” he wrote in a brief post.</p>.Piyush Goyal meets US Commerce Secretary Howard Lutnick, discusses trade.<p>The meeting comes amid growing uncertainty over the India-US trade deal. At the beginning of this month, the two countries announced a framework for an interim trade deal. However, the recent US Supreme Court ruling that struck down the sweeping reciprocal duty structure introduced by the Trump’s administration, has led to uncertainty.</p>.<p>The Indian trade negotiators’ planned visit to Washington was put on hold. Details of Lutnick’s visit to New Delhi were not previously disclosed.</p>.<p>Gor also announced about the meeting through a social media post. A “highly productive lunch” with Howard Lutnick and Piyush Goyal, Gor said. “So many areas of cooperation for our two nations,” he added.</p>.<p>According to BMI (a unit of Fitch Solutions), uncertainties over Trump’s tariffs are likely to continue in the coming months.</p>.<p>Following the US Supreme Court’s decision limiting the use of the International Emergency Economic Powers Act (IEEPA) for sweeping tariffs, the Trump administration implemented a replacement global surcharge under Section 122 of the Trade Act of 1974 intended to address “international payments problems” and rebalance trade.</p>.<p>While Trump indicated the global rate could be lifted to 15%, official documentation shows tariffs entering into force at 10%. These tariffs are explicitly time‑limited to 150 days and will be in place from February 24, 2026 to July 24, 2026, unless extended by Congress.</p>.<p>“This has reinforced a fast-changing policy environment, uncertainty for firms and trading partners, and increased the perceived risk of retaliation as the US retains significant leverage to re-price market access quickly,” BMI said in a note.</p>
<p>New Delhi: Commerce and Industry Minister Piyush Goyal on Thursday held a meeting with US Secretary of Commerce Howard Lutnick and US Ambassador to India Sergio Gor, and discussed ways to expand trade and economic partnership between the two countries.</p>.<p>Goyal confirmed the meeting through a post on X. The minister informed that he hosted the key aides of US President Donald Trump. “Engaged in very fruitful discussions to expand our trade and economic partnership,” he wrote in a brief post.</p>.Piyush Goyal meets US Commerce Secretary Howard Lutnick, discusses trade.<p>The meeting comes amid growing uncertainty over the India-US trade deal. At the beginning of this month, the two countries announced a framework for an interim trade deal. However, the recent US Supreme Court ruling that struck down the sweeping reciprocal duty structure introduced by the Trump’s administration, has led to uncertainty.</p>.<p>The Indian trade negotiators’ planned visit to Washington was put on hold. Details of Lutnick’s visit to New Delhi were not previously disclosed.</p>.<p>Gor also announced about the meeting through a social media post. A “highly productive lunch” with Howard Lutnick and Piyush Goyal, Gor said. “So many areas of cooperation for our two nations,” he added.</p>.<p>According to BMI (a unit of Fitch Solutions), uncertainties over Trump’s tariffs are likely to continue in the coming months.</p>.<p>Following the US Supreme Court’s decision limiting the use of the International Emergency Economic Powers Act (IEEPA) for sweeping tariffs, the Trump administration implemented a replacement global surcharge under Section 122 of the Trade Act of 1974 intended to address “international payments problems” and rebalance trade.</p>.<p>While Trump indicated the global rate could be lifted to 15%, official documentation shows tariffs entering into force at 10%. These tariffs are explicitly time‑limited to 150 days and will be in place from February 24, 2026 to July 24, 2026, unless extended by Congress.</p>.<p>“This has reinforced a fast-changing policy environment, uncertainty for firms and trading partners, and increased the perceived risk of retaliation as the US retains significant leverage to re-price market access quickly,” BMI said in a note.</p>