New Delhi, Feb 3 (PTI) Commerce and Industry Minister Piyush Goyal is likely to make a statement in Parliament on Tuesday on the India-US trade agreement, sources said.

They said that the minister is returning to Delhi from Mumbai to make the statement.

"The commerce minister is likely to make a statement in the Parliament," they added.

India and the US agreed on a trade deal under which Washington will bring down the reciprocal tariff on Indian goods to 18 per cent from the current 25 per cent, US President Donald Trump said on Monday after a phone conversation with Prime Minister Narendra Modi.

Modi has said that he was delighted that “Made in India” products will now have a reduced tariff of 18 per cent.

"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,” Modi said. PTI RR DRR

India-US trade deal cuts reciprocal tariff on Indian goods from 25% to 18%; commerce minister to brief Parliament. The United States and India have agreed to reduce the reciprocal tariff on Indian goods from 25 percent to 18 percent, altering import duty treatment for affected exports. The Commerce Minister is expected to make a parliamentary statement to inform legislators and stakeholders of the agreement and its administrative implications for customs and trade policy.