Commerce and Industry Minister Piyush Goyal today said Indian goods will receive preferential market access in the United States, with lower tariffs compared to those imposed on competitor countries. Mr Goyal said this understanding was reached between Prime Minister Narendra Modi and US President Donald Trump when the two countries announced a broad framework for their Bilateral Trade Agreement (BTA).
The Commerce and Industry Minister said, the agreement was expected to be signed earlier, but changes in the US tariff structure had necessitated further negotiations. The Minister added that both sides were working towards concluding the first tranche of the trade agreement by the end of the current financial year. He made these remarks while responding to a question from a reporter in Cairo in Egypt. Mr Goyal is on a two-day visit to Egypt to discuss ways to enhance trade and investment between the two countries.
