India has offered zero tariffs on most products, Piyush Goyal likely to visit US in two weeks: Sources

India has offered zero tariffs on most products to the United States, people in the know told CNBC-TV18 about the India-US trade talks.The Indian side has offered zero tariffs with the exception of wheat, maize, rice and dairy, sources said.
They added that the US wants to keep tariffs on India at 10%.
The talks between both countries to reduce tariffs have been progressing well and there is an agreement on most areas. However, differences still remain on non-tariff barriers with the US side sharing a list of 70 such non-tariff barriers with India, sources said.
Union commerce minister Piyush Goyal could visit the US in the next couple of weeks around May 19 for trade talks, the sources added.Earlier this week, US President Donald Trump said India has agreed to remove its high tariffs on American goods “to nothing”.

“India, as an example, has one of the highest tariffs in the world. We’re not going to put up with that, and they’ve agreed already to drop it. They’ll drop it to nothing. They’ve already agreed. They would have never done that for anybody else but me,” Trump said.

India and the US have been negotiating a bilateral trade deal for several years, with the progress often described as uneven.

Last month, the US President said the discussions were “coming along great” and expressed optimism that a deal was close. “I think we’ll have a deal with India,” he said at the time.

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