Guwahati, Sept. 18 -- Chief Economic Adviser V Anantha Nageswaran stated on Thursday that the United States is likely to lift the 25% penal tariffs currently applied to Indian exports.

Alongside this move, the reciprocal tariff rate imposed by India could also be reduced from 25% to a lower range of 10-15%, he said.

Nageswaran expressed optimism that both nations might reach a resolution in the coming weeks, as diplomatic talks continue to make quiet progress.

"A lot of conversations have been taking place behind the scenes between the Indian and US governments," he noted, highlighting the depth of ongoing engagement aimed at resolving long-standing trade frictions.

This is breaking news.

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