US may bring down reciprocal tariffs this week: Commerce Secretary
The US and India are set to lower tariffs on each other's imports, with a reduction to 18% from 25%. Additional tariffs on Indian goods will also be reduced from 50% to 18%. The interim agreement will be finalized next week by India's chief negotiator. Plans to establish trade deals with the UK and MERCOSUR are underway, while talks with Canada will resume under a new government.