New Delhi, Feb 26 (PTI) Commerce and Industry Minister Piyush Goyal on Thursday said he has held a meeting with US Secretary of Commerce Howard Lutnick and US Ambassador to India Sergio Gor and discussed ways to expand trade relationship between the two countries.

"Hosted US Secretary of Commerce @HowardLutnick & @USAmbIndia Sergio Gor. Engaged in very fruitful discussions to expand our trade and economic partnership," Goyal said in a social media post.

The meeting holds immense importance as both countries are in the process of finalising the legal text for the first phase of a bilateral trade agreement.

Following the US Supreme Court order striking down US President Donald Trump's sweeping tariffs, the US has imposed 10 per cent tariffs on all the countries for 150 days. PTI RR ANU ANU

Bilateral trade agreement negotiations progress amid recent U.S. tariff policy adjustments affecting tariff treatment and transitional arrangements. Senior-level discussions between India's commerce minister and U.S. commerce officials focused on advancing the legal text for the first phase of a bilateral trade agreement and expanding economic partnership. The talks were contextualized by a recent U.S. tariff policy adjustment-imposition of a uniform temporary tariff-which was noted as relevant to negotiations on tariff treatment, transitional arrangements, and safeguards in the prospective agreement.