Trade Talks Begin on April 2: India Considers Tariff Cuts on US Goods

India is considering reducing tariffs on over half of US imports, valued at $23 billion, as trade talks commence on April 2. This move aims to mitigate the impact of potential reciprocal tariffs from the US, set to take effect the same day. India's willingness to lower tariffs on 55% of US goods, currently subject to duties between 5% and 30%, is contingent on securing relief from these reciprocal taxes. The discussions, led by Assistant US Trade Representative Brendan Lynch, will focus on substantially lowering or eliminating tariffs on select US imports. Key areas of negotiation include tariffs on almonds, pistachio, oatmeal, and quinoa, while tariffs on meat, maize, wheat, and dairy products remain off the table. India will also push for phased cuts in automobile tariffs. This decision is not final, and alternative approaches, such as sectoral adjustments, are still under consideration. The outcome of these talks will significantly impact trade relations between the two nations and could potentially reshape global trade dynamics.