Indian Prime Minister Narendra Modi is considering reducing tariffs on a number of American goods in preparation for an upcoming meeting with US President Donald Trump. This was reported by Reuters, according to UNN.
Details
Modi's visit to the United States will take place on Wednesday and Thursday, while the Trump administration is preparing to impose new tariffs on a number of countries. The American president has repeatedly stated the need to balance trade relations with India, urging it to increase purchases of American security equipment.
The Indian side is analyzing the possibility of reducing tariffs in key sectors, including electronics, medical equipment, and chemicals. Potential concessions will affect goods that are already supplied from the US or have prospects for import growth. These include, in particular, antennas and wood pulp.
Negotiations on duties are part of New Delhi's broader strategy to strengthen domestic production and attract investment. At the same time, India is ready to discuss a possible mini-trade agreement with the United States, which could help reduce tensions and prevent a repeat of the trade conflict scenario that is unfolding between Washington and Beijing.
Against the backdrop of ongoing changes, India has already taken some steps to reduce import duties, including reducing average rates from 13% to 11%, and lowering taxes on bicycles and cars.
Recall
While flying to the NFL Championship Game in New Orleans, Trump told reporters that the new tariffs would be announced on Monday. He also announced the introduction of reciprocal tariffs at the beginning of the week, which will take effect almost immediately and affect all countries according to their own tariff rates.