Trump tariff in limbo, US commerce secretary meets Piyush Goyal

NEW DELHI: Amid uncertainty over tariffs imposed by the US, commerce and industry minister Piyush Goyal met US commerce secretary Howard Lutnick in the Capital on Thursday, signalling that both sides remain engaged on the issue.The details of what transpired remain unclear. “Engaged in very fruitful discussions to expand our trade and economic partnership,” Goyal posted on social media. On X, US ambassador to India Sergio Gor said the lunch meeting was “highly productive”. “So many areas of cooperation for our two nations!”Lutnick is in India to attend a wedding.Although the interim framework, under which the US was to lower the reciprocal tariff for India to 18% is on hold, the two sides remain on track to boost bilateral trade. “Thanks to your support, the US-India economic relationship has never been stronger. With our new target of $500 billion in bilateral trade, the United States and India are creating jobs, driving innovation, and building shared prosperity,” the US embassy tweeted, pointing to the target set by PM Modi and US President Trump.The US commerce secretary is the highest-ranking official from Trump’s economic team to visit India. A tariff hawk, Lutnick had in the past slammed India for its tariffs and oil purchases. The meeting signals the Trump administration is keen to ensure communication channels stay open even as it seeks to recalibrate its tariff strategy after the US Supreme Court dealt a major blow to reciprocal tariffs. Textiles, gems & jewellery get duty boostThe sudden meeting happened after Lutnick’s trip to India to attend a wedding in Jodhpur, where he landed in the evening. A photo released by the US embassy showed that Goyal’s wife Seema and Lutnick’s spouse Allison also joined them and Gor.After last Friday’s ruling by Supreme Court, India and the US decided to reschedule the visit by chief negotiator Darpan Jain and his team to work out the legal text for the interim framework.The US is India’s largest export destination, and has accounted for nearly a fifth of total goods exports. The recent tariff relief has provided a boost to sectors such as textiles, leather, seafoods, carpets and gems and jewellery, which were hit hard by the 50% tariffs, including the 25% penalty for Indian refiners purchasing crude oil from Russia.