India and the United States may soon finalize a trade deal that could drastically cut tariffs on Indian exports to the U.S., reducing rates from about 50% to as low as 15–16%. Citing anonymous sources, the Mint newspaper reports that discussions are nearing completion, signaling a substantial shift in economic relations.

In a significant development for international trade, President Donald Trump announced that the United States and China will resume trade talks following a “very positive” conversation with Chinese leader Xi Jinping. The renewed negotiations aim to break the impasse over tariffs affecting both nations.