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.

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.

India is approaching upcoming trade talks with the US cautiously due to legal uncertainties surrounding Trump's tariffs. These uncertainties, including a court challenge to the tariffs and potential further increases,

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

The U.S. trade deficit narrowed significantly in April as President Donald Trump sharply escalated tariffs before pausing a large swath of the levies, U.S. Commerce Department data on Thursday showed.

The US trade deficit more than halved in April as President Donald Trump's global tariffs reversed an import surge that preceded the new duties.