India eyes tariff cuts on $23 billion of U.S. imports to shield $66 billion in exports, Reuters reports

From cnbc.com

India is open to cutting tariffs on more than half of U.S. imports worth $23 billion in the first phase of a trade deal the two nations are negotiating, two government sources said, the biggest cut in years, aimed at fending off reciprocal tariffs. The South Asian nation wants to mitigate the impact of U.S. President Donald Trump’s reciprocal worldwide tariffs set to take effect from April 2, a threat that has disrupted markets and sent policymakers scrambling, even among Western allies. In an internal analysis, New Delhi estimated such reciprocal tariffs would hit 87% of its total exports to the United States ... (full story)