Indo-US trade meet: Commerce minister Piyush Goyal to meet USTR today

India is pressing for exemption from high duty imposed by the US on certain steel and aluminium products, full resumption of export benefits to some domestic goods under their GSP programme as well as greater market access for its products from sectors such as agriculture, automobile, auto components and engineering.

On the other hand, the US wants greater market access for its dairy products, and medical devices. "All these issues would figure in the meeting," the official said.

Trade issues started cropping up between the countries when the US imposed high customs duties on certain steel and aluminium products, which are affecting India's exports of these items to America.

The US had also rolled back export incentives for Indian exporters, under its Generalized System of Preferences (GSP) programme. India exports goods worth about $6 billion to America under the scheme. In retaliation, India imposed high customs duties on 28 US products, including almonds.

Goyal has recently stated that India and the US have resolved the broad contours of the proposed trade package and an announcement is expected soon. India's exports to the US in 2018-19 stood at $52.4 billion, while imports were $35.5 billion. The trade balance is in favour of India.