US May Cut Tariff on India to 15-16% in Trade Deal: Report

Core Points - A potential trade deal between the US and India may reduce tariffs on Indian exports by approximately 50%, bringing them down to as low as 15% [1] - The negotiations for this deal have been ongoing for several months, with the first phase possibly nearing completion [2] - The timing of this deal is significant as it coincides with US-China negotiations, highlighting the competitive dynamics between India and China as manufacturing and exporting powerhouses [3]