Piyush Goyal Heads to U.S. for Crucial Trade Talks

India's trade minister Piyush Goyal travels to the U.S. to discuss trade amid concerns over President Trump's proposed reciprocal tariffs. During the trip, discussions will aim toward a trade deal segment by 2025, while Indian exporters worry about potential $7 billion in annual losses.

India's Trade Minister Piyush Goyal embarked on a sudden trip to the United States on Monday to engage in crucial trade talks, according to two government officials. His visit comes as a response to the mounting pressure of President Donald Trump's proposed reciprocal tariffs, scheduled to commence in April.

This unexpected journey prompted Goyal to cancel previously scheduled meetings, which were set until March 8. The discussions in the U.S. are a follow-up to Prime Minister Narendra Modi's recent visit, which focused on achieving a preliminary trade deal segment by the fall of 2025.

Indian exporters, particularly in the auto and agriculture sectors, express concerns over the potential ramifications of Trump's tariff proposal, with Citi Research analysts estimating that it could result in roughly $7 billion in annual losses for India.

(With inputs from agencies.)