India is seeking a reduction in tariffs on $23 billion worth of imports from the United States in an effort to protect its $66 billion in exports, according to sources cited by Reuters.
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India eyes tariff cut on $23 bln of US imports, to shield $66 bln in exports, sources say | Reuters
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India’s potential move to cut tariffs on $23 billion worth of U.S. imports reflects a strategic approach to foster trade relations while safeguarding its own export interests, which amount to $66 billion. This gesture may help reduce trade tensions and encourage more equitable trade practices between the two nations. By targeting specific imports for tariff reductions, India could benefit from lower costs for consumers and businesses, potentially stimulating economic growth. However, it’s crucial for India to carefully balance these tariff adjustments to ensure that its domestic industries remain competitive and protected from any adverse impacts. The ongoing dialogue and negotiations will be essential in achieving a mutually beneficial trade framework.