India's Commerce Minister Heads to US for G-20 Trade Talks Amid Calls for WTO Reform

Amid a perceived slowing of momentum in bilateral trade talks, Commerce and Industry Minister Piyush Goyal is likely to travel to the US next month to participate in the G-20 Trade Ministerial Meeting, scheduled to take place in Milwaukee, Wisconsin, from September 30 to October 1. The Milwaukee gathering—hosted by United States Trade Representative (USTR) Jamieson Greer under the US G-20 Presidency—will offer a platform for Goyal and Greer to hold discussions on a bilateral trade agrement (BTA), hanging fire for long. The two leaders last met in late June in New Delhi for a two-day dialogue aimed at finalizing an interim trade deal as a stepping stone toward a comprehensive BTA. Those discussions focused on key strategic pillars, including enhanced market access, digital trade, supply chain resilience, the reduction of non-tariff barriers, and deeper collaboration in critical sectors. As host of the G-20 trade ministers’ gathering—representing nations that account for 85% of global GDP and up to 80% of world trade—Washington is expected to aggressively advance its core economic priorities. Topping the US agenda is a proposal to “update” the World Trade Organization’s foundational Most-Favoured-Nation (MFN) principle. The MFN rule, long a bedrock of global commerce, mandates unconditional, non-discriminatory market access among trade partners. However, the USTR is advocating for a shift toward strict reciprocity, strategic alignment, and conditional market access. Washington argues that unconditional MFN creates an asymmetric advantage for non-market economies—such as China—allowing state-directed, highly subsidized systems to benefit from open Western markets without offering equal transparency or reciprocal access in return. In addition to MFN reform, the US plans to press member nations on addressing structural excess production capacities and eliminating forced labour in global supply chains. Following detailed investigations into major exporter economies, Washington has already levied duties between 10% and 12% on 60 economies over forced labour concerns, while its probe into global excess capacity remains ongoing. The meeting is also slated to tackle the “weaponization of trade in food.” For the US, a major point of friction is the vulnerability of its domestic agricultural sector during broader trade disputes. Washington has expressed growing concern over retaliatory tariffs routinely imposed by foreign trading partners on US agricultural exports—such as soybeans, pork, and corn—whenever broad unilateral tariffs are deployed.