New Delhi: In response to pressure from U.S. President Donald Trump, India has signaled its willingness to lower tariffs on $23 billion worth of American imports, according to a report from the Indian newspaper India Today, as cited by Kashmir Media Service.

The report outlines that the Indian government is prepared to cut tariffs on over half of the American imports as part of a trade agreement with the United States. This move aims to address the reciprocal tariffs that have been affecting exports.

U.S. President Trump’s global tariff policies, set to take effect on April 2, have prompted concerns across various markets, including among Western allies. These tariffs could potentially impact 87 percent of India’s exports to the U.S., valued at approximately $66 billion.

In an effort to mitigate this impact, India is considering reducing tariffs on 55 percent of American imports, which are currently taxed at rates ranging from 5 percent to 30 percent. The tariff reductions could be significant for some imports, while others might see tariffs completely removed. However, the proposal remains under discussion, and no final decision has been made by the Indian government.

Ahead of the implementation of these tariffs, India is working to finalize an agreement. A U.S. delegation led by Brendan Lynch, the U.S. Trade Representative for South and Central Asia, is currently in India for trade negotiations.

Business experts have warned that increased tariffs on Indian exports could lead U.S. companies to seek alternative suppliers, such as Indonesia, Israel, and Vietnam, further impacting Indian businesses.