US trade representative suggests tariffs on nuts, fruits and vegetables will drop to zero
The US and India have reached an agreement on a new trade deal that could see Indian tariffs on US fresh produce removed.
US President Donald Trump said the two countries had reached an agreement in a post on social media on 3 February.
“We agreed to a trade deal between the United States and India, whereby the United States will charge a reduced reciprocal tariff, lowering it from 25 per cent to 18 per cent. They will likewise move forward to reduce their tariffs and non-tariff Barriers against the United States, to zero,” said Trump.
Indian Prime Minister Narendra Modi added in his own social media post: “Delighted that made in India products will now have a reduced tariff of 18 per cent. Big thanks to President Trump on behalf of the 1.4 billion people of India for this wonderful announcement”.
While the final details of the deal are yet to be announced, US trade representative Jamieson Greer told CNBC he expected tariffs on a vast array of agricultural goods to drop to zero.
“This is it. The time has come — we now have the deal. We’ll finish papering it, but we know the specifics and we know the details. It’s a very exciting opportunity,” Greer said.
“For a variety of things — tree nuts, wine, spirits, fruits and vegetables — they’re going down to zero. This is a big win,” said Greer.
Greer also noted there will be some areas that India will retain agricultural protections, but added the US will continue to work on access.
