India considers tariff cuts on half of US imports to protect exports

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India considers tariff cuts on half of US imports to protect exports - Business Standard

Quick Summary:

During Prime Minister Narendra Modi's US visit in February, the two nations agreed to start talks towards clinching an early trade deal and resolving their standoff on tariffs.

The South Asian nation wants to mitigate the impact of US President Donald Trump's reciprocal worldwide tariffs set to take effect from April 2, a threat that has disrupted markets and sent policymakers scrambling, even among Western allies.

India did not want to lose the United States as a trading partner, Sunil Barthwal told the committee, but vowed at the same time, "We will not compromise on our national interest," according to two people who attended the closed-door meeting.