The Commerce Ministry has scheduled consultations with major export councils and industry chambers on September 1, chaired by Chief Negotiator Darpan Jain, to review India-US bilateral trade performance ahead of Commerce Minister Piyush Goyal’s visit to the US. Discussions focus on navigating recent US tariff adjustments, with bilateral trade reaching $87.31 billion in exports for FY26. Meanwhile, trade metrics show Vietnam achieving a record $114 billion trade surplus with the US in the first half of 2026, driven by rapid manufacturing integration under its “China Plus One” strategy. Simultaneously, India is expanding its trade reach across South America. Commerce Secretary Rajesh Agrawal led delegation talks in Argentina focusing on KABIL’s lithium mining projects in Catamarca, pharmaceutical market access, and MERCOSUR trade terms. India also advanced negotiations with Chile to finalize a Comprehensive Economic Partnership Agreement (CEPA) by the end of 2026, aiming to secure long-term access to critical minerals, energy, and pharmaceutical markets.