Updates: Policy/News/Markets, March 28, 2025
— India dangles tariff cuts to avert U.S. trade retaliation. In a strategic move to ease trade tensions, India has offered tariff cuts on key U.S. agricultural imports — including almonds, cranberries, walnuts, and bourbon whiskey — as part of ongoing negotiations aimed at preventing reciprocal tariffs from the U.S. set to take effect next week. The offer came during high-level meetings in New Delhi with Brendan Lynch, Assistant U.S. Trade Representative for South and Central Asia. India is reportedly open to reducing duties on over half of the $23 billion in U.S. imports, distinguishing its conciliatory approach from that of China, Canada, and the EU. Indian Trade Minister Piyush Goyal confirmed the talks are “progressing well,” underscoring mutual benefits.