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US-India Trade: India To Slash Tariffs On $23 Billion US Imports - WION
Reuters report reveals that India is considering cutting tariffs on over half of its US imports. The report further claims that the cuts amount to $23 billion and this move is aimed at protecting India's exports from the impact of reciprocal tariffs imposed by the US. The proposed tariff cuts are seen as an effort to prevent escalating trade tensions between New Delhi and Washington DC, especially with US president's planned tariffs which will take effect on April 2nd. India's internal analysis estimates that US tariffs could impact in effect 87% of its total exports to the US which are valued at $66 billion.