'Engaged in very fruitful discussions': Piyush Goyal meets Howard Lutnick, Sergio Gor after US Supreme Court's tariff setback to Trump
The high-level meeting comes at a critical juncture as India and the US work to finalise the legal text for the first phase of a bilateral trade agreement.
- Feb 26, 2026,
- Updated Feb 26, 2026 2:58 PM IST
Union Minister of Commerce and Industry Piyush Goyal met with US Secretary of Commerce Howard Lutnick and US Ambassador to India Sergio Gor on Thursday to discuss strengthening the trade partnership between the two nations.
The high-level meeting comes at a critical juncture as India and the US work to finalise the legal text for the first phase of a bilateral trade agreement.
Minister Goyal characterised the interaction as a positive step toward deepening bilateral economic cooperation. Taking to social media, he wrote, "Hosted US Secretary of Commerce @HowardLutnick & @USAmbIndia Sergio Gor. Engaged in very fruitful discussions to expand our trade and economic partnership."
The meeting is particularly significant following a recent US Supreme Court ruling that struck down President Donald Trump’s previous emergency tariffs.
In a major setback to Trump's pivotal economic agenda in his second term, the US Supreme Court ruled that the tariffs imposed by Trump on nations around the world were illegal and that the president had exceeded his authority when he imposed the sweeping levies by using the International Emergency Economic Powers Act (IEEPA) of 1977.
The US had imposed a 25 per cent reciprocal tariff on India in August 2025. Later, an additional 25 per cent duty was imposed for buying Russian crude oil, taking the total tariffs on India to 50 per cent.
India and the US, earlier this month, agreed on a framework to finalise an interim trade deal, under which Washington will cut down the tariffs to 18 per cent. To sign and implement the first phase of the bilateral trade agreement, the framework has to be converted into a legal document.
In response to the court's decision, the US has implemented a temporary 10% tariff on imports from all countries for a period of 150 days.
While the current surcharge is at 10%, there are strong signals that this could be hiked to 15% due to Section 122 of the Trade Act. Due to this, India's textiles, electronics, and engineering exports to the US are likely to be hit.
Despite these shifting trade dynamics, both nations are prioritising the completion of an interim trade deal to provide much-needed stability for businesses and investors.
Teams from both sides are currently vetting the legal framework for the trade pact. The discussions focused on identifying new sectors for investment and reducing existing trade barriers. The presence of Ambassador Sergio Gor underscores the priority the US administration is placing on its strategic relationship with India.
Union Minister of Commerce and Industry Piyush Goyal met with US Secretary of Commerce Howard Lutnick and US Ambassador to India Sergio Gor on Thursday to discuss strengthening the trade partnership between the two nations.
The high-level meeting comes at a critical juncture as India and the US work to finalise the legal text for the first phase of a bilateral trade agreement.
Minister Goyal characterised the interaction as a positive step toward deepening bilateral economic cooperation. Taking to social media, he wrote, "Hosted US Secretary of Commerce @HowardLutnick & @USAmbIndia Sergio Gor. Engaged in very fruitful discussions to expand our trade and economic partnership."
The meeting is particularly significant following a recent US Supreme Court ruling that struck down President Donald Trump’s previous emergency tariffs.
In a major setback to Trump's pivotal economic agenda in his second term, the US Supreme Court ruled that the tariffs imposed by Trump on nations around the world were illegal and that the president had exceeded his authority when he imposed the sweeping levies by using the International Emergency Economic Powers Act (IEEPA) of 1977.
The US had imposed a 25 per cent reciprocal tariff on India in August 2025. Later, an additional 25 per cent duty was imposed for buying Russian crude oil, taking the total tariffs on India to 50 per cent.
India and the US, earlier this month, agreed on a framework to finalise an interim trade deal, under which Washington will cut down the tariffs to 18 per cent. To sign and implement the first phase of the bilateral trade agreement, the framework has to be converted into a legal document.
In response to the court's decision, the US has implemented a temporary 10% tariff on imports from all countries for a period of 150 days.
While the current surcharge is at 10%, there are strong signals that this could be hiked to 15% due to Section 122 of the Trade Act. Due to this, India's textiles, electronics, and engineering exports to the US are likely to be hit.
Despite these shifting trade dynamics, both nations are prioritising the completion of an interim trade deal to provide much-needed stability for businesses and investors.
Teams from both sides are currently vetting the legal framework for the trade pact. The discussions focused on identifying new sectors for investment and reducing existing trade barriers. The presence of Ambassador Sergio Gor underscores the priority the US administration is placing on its strategic relationship with India.