India Considers Tariff Cuts on $23 Billion in US Imports Amid Trade Tensions

India is considering reducing tariffs on $23 billion worth of imports from the United States in an effort to mitigate potential reciprocal tariffs from the U.S. set to begin on April 2. These tariffs, which India estimates could affect 87% of its $66 billion in exports to the U.S., include items such as pearls, mineral fuels, machinery, boilers, and electrical equipment. India's proposal involves lowering tariffs on 55% of U.S. imports, which currently face taxes ranging from 5% to 30%. Discussions are ongoing, with alternative options including product-specific or sectoral tax adjustments also under consideration. While India seeks a deal, it remains firm on not reducing tariffs on certain goods like meat, maize, wheat, and dairy products. It also intends to push for phased cuts to its automobile tariffs, which can reach up to 110%.