Commerce Minister Piyush Goyal has said that India and the US desire to give preferential market access to each other’s businesses. Talking to Media persons in Paris, he said that both countries are working together on the proposed bilateral trade agreement. When asked about an announcement by US President Donald Trump to double tariffs on steel and aluminium to 50 per cent, Mr Goyal said, the two countries will continue to work together to resolve all these issues bilaterally. Mr Goyal is in Paris on an official visit to hold talks with French leaders and business representatives to boost trade and investments.
In February, US President Trump and Prime Minister Narendra Modi announced plans to negotiate the first tranche or phase of a mutually beneficial, multi-sector Bilateral Trade Agreement (BTA) by fall (September-October) of 2025. It is aimed at more than doubling the bilateral trade to 500 billion dollars by 2030 from the current level of 191 billion dollars.
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