US May Cut India Tariff to 15-16% in Trade Deal, Mint Says (1)

India and the US are nearing a trade deal that could lower tariffs on Indian exports to 15%–16% from about 50%, the Mint newspaper reported, citing three unidentified people aware of the matter.

New Delhi may agree to gradually reduce its imports of Russian oil and allow the US to export more non-genetically modified American corn and soymeal, according to the report. An agreement may be announced when President Donald Trump and Prime Minister Narendra Modi possibly meet at the Association of Southeast Asian Nations summit in Malaysia, the newspaper said.

The Asean Leaders Summit is scheduled in Kuala ...