Indian and U.S. are holding high-level talks this week, aiming to finalise tariff cuts in sectors such as farm and automobiles as part of an interim deal, two government sources said, with an announcement likely later this month.

Trump's tariffs slashed farm exports, raised input costs and left farmers reliant on unsustainable bailouts, experts warn.

Trump supports tariffs to balance U.S.-India trade, with Lutnick urging early cooperation and reasonable market access to reduce the trade deficit.

India's steel and aluminium sectors face an export crisis as former US President Donald Trump doubles tariffs to 50 per cent. With small and medium manufacturers at risk and trade negotiations hanging in the balance,

India and the U.S. are in final talks to cut tariffs on key sectors like agriculture and autos, aiming to announce an interim trade deal.

Musk’s criticism of Trump’s tariff stance comes at a pivotal moment. India and the US are in active talks to finalise a bilateral trade agreement aimed at reducing tariffs.

India’s central bank cut interest rates more than expected on Friday. For this, the Reserve Bank of India (RBI) cited muted inflation and a need to kickstart economic growth. This happened as the impact of US tariffs weighed on the country’s outlook.

The Trump administration claimed that tariffs imposed under his presidency were not only economic tools but also part of successful diplomatic efforts, referring to the India-Pakistan truce.