Trade talks progressing well: Commerce secy

President Donald Trump said India has made an offer to drop tariffs on US goods, as the Asian nation negotiates a deal to avert higher import taxes.

- BLOOMBERG

Speaking Thursday at an event with business leaders in Qatar, Trump said the Indian government has "offered us a deal where basically they are willing to literally charge us no tariff."

Trump didn't provide further details of New Delhi's apparent offer and the Indian Ministry of Commerce and Industry didn't immediately respond to a request for comment.

India was one of the first countries to begin trade negotiations with the US following Prime Minister Narendra Modi's visit to the White House in February, with both sides agreeing to finalize the first phase of a bilateral deal by the fall. Commerce and Industry Minister Piyush Goyal is expected to meet Trump administration officials in the US from May 17-20 for further negotiations.

Trump's comments came days after India threatened to impose retaliatory tariffs in response to higher US duties on steel and aluminum, a sign that New Delhi may be adopting a more assertive approach in its trade negotiations with the White House. The trade talks remain on track though, people familiar with the matter have said.