India's Bold Trade Move: Halving Tariffs on U.S. Goods

India is considering significant tariff reductions on U.S. imports worth $23 billion in the first phase of a trade deal with the U.S., aiming to counteract President Trump's reciprocal tariffs. The negotiations, aimed at resolving tariff conflicts, are under discussion, though no final decision has been made.

In a significant trade maneuver, India is open to slashing tariffs on over $23 billion worth of U.S. imports. This move is aimed at circumventing potential reciprocal tariffs announced by U.S. President Donald Trump, which threaten to disrupt global trade dynamics.

As part of ongoing trade talks, India has proposed cutting tariffs on 55% of U.S. imports currently subjected to tariffs ranging from 5% to 30%. The bold trade gesture seeks to mitigate the impact of impending reciprocal tariffs that could affect 87% of India's $66 billion exports to the U.S.

While India contemplates these tariff cuts, officials warn that the decision hinges on securing concessions from the U.S. to ease reciprocal tax pressures. India's goal is to resolve tariff issues before Trump's tariffs take effect, thus preserving its robust trade relationship with the U.S.

(With inputs from agencies.)