US Trade Representative Jamieson Greer called Union Commerce Minister Piyush Goyal a 'trade minister for life' as the two ministers met on the first day of the G20 Trade Ministers' Meeting in Milwaukee. The light-hearted remark came as the two ministers engaged in productive discussions towards early conclusion of a mutually beneficial interim agreement under the India-US Bilateral Trade Agreement. According to The Times of India, Greer commented that 'We had a very constructive conversation with Minister Piyush Goyal... We are continually trying to finish the trade deal with India, we are in the short strokes. I think we are towards the end of it.' The discussions followed a Wednesday morning telephone conversation between Prime Minister Narendra Modi and US President Donald Trump during which they reviewed bilateral cooperation on trade, defence, energy and emerging technologies.
Commerce Minister Piyush Goyal successfully pitched India to US manufacturers and technology companies during his week-long visit, telling executives that the government was ready to facilitate their operations, expansion and investments in India. According to the Commerce and Industry Ministry press release on Wednesday, Goyal held a business roundtable hosted by the National Association of Manufacturers (NAM), where he outlined the changing contours of the India-US economic relationship. The American executives shared their views on opportunities emerging in India and their companies' perspectives on expanding partnerships in the country. Goyal also attended a reception hosted jointly by the Business Roundtable (BRT) and NAM at the global headquarters of Rockwell Automation, providing opportunities to interact with trade ministers from other G20 economies and senior US business leaders.
US Trade Representative Jamieson Greer confirmed that the India-US trade deal is 'nearly done', stating that 'we're in the short strokes' and 'toward the end of it' during a press conference after the G20 meeting. However, Greer emphasized that 'there's no I don't think there's something imminent' as the two sides have identified 'the universe of items that are sticking points' and are working diligently toward their resolution. Greer also indicated that President Trump and Prime Minister Modi may have another phone call 'very soon' to assess the progress on the trade deal, following their constructive Wednesday morning conversation. The US trade chief added that 'the President and the Prime Minister may have another call very soon on this just to assess progress and where we are.' India and the US, in February, announced the finalisation of the framework for the first phase of the bilateral trade agreement (BTA), though changes in the US tariff landscape have led to further negotiations on the pact.
The first day of the G20 meeting produced significant developments on trade frameworks, with countries participating in the Global Forum on Steel Excess Capacity endorsing the 'Milwaukee Framework' for addressing steel overcapacity. As reported by The Times of India, US Trade Representative Jamieson Greer said it would seek stronger coordinated action on excess capacity, including trade remedies, steel supply-chain monitoring and greater scrutiny of transhipment. When asked about potential tariff increases on Chinese steel, Greer noted that 'every country will do what they think is appropriate' and emphasized coordination of measures. The US has put four issues at the centre of its G20 presidency: the 'weaponisation' of food, structural excess industrial capacity, the Most-Favoured-Nation (MFN) principle and forced labour in supply chains. On food security, Goyal highlighted that 'our shared objective must be to ensure that food remains a source of security, stability and cooperation' while distinguishing between legitimate policy measures and food supply chain weaponisation.
Greer also called for the MFN principle to be re-examined, describing it as a cornerstone of the trading system while noting that 'its unconditional application could limit countries' ability to respond to distortive policies and changing market conditions'. India has maintained its position of working towards 'a rules-based, open, inclusive, transparent, equitable and non-discriminatory multilateral trading system, with the World Trade Organization at its core, while ensuring adequate policy space for developing countries'. The discussions represent ongoing efforts to advance a balanced and mutually beneficial India-US Bilateral Trade Agreement (BTA) and finalise an interim deal in line with the Joint Statement of 7 February 2026. The G20 meeting comes ahead of the leaders' summit scheduled to be hosted by the United States later this year.
