Beyond tariffs, the deal is also seen as a sign of closer trade ties between India and the US, with hopes of easier regulatory processes and more reliable supply chains

Coordinating Economy Minister Airlangga Hartarto said he could not reveal the contents of the agreement until the documents were signed by President Prabowo Subianto and US President Donald Trump, as the two countries were bound by a nondisclosure agreement when they clinched a preliminary handshake deal last July.

President Trump announced the agreement on Truth Social after a phone call with Indian Prime Minister Narendra Modi.

China has been flooding Latin American markets with low-priced exports, especially autos and e-commerce goods, as its exporters adjust to U.S. President Donald Trump's tariffs and geopolitical moves.

Canadian households, businesses, and the government have invested more than $230 billion in US assets.

India on Sunday (Fre 1) cut a range of tariffs on capital goods and raw materials in a push to cut its dependence on China for products essential to the energy transition and to reduce costs for exporters hit by U.S. trade policies.

China has reduced proposed tariffs on certain dairy products from the European Union as it concludes an anti-subsidy investigation widely seen as retaliation for EU levies on Chinese electric cars, two European industry associations said.

Seoul mounts a diplomatic blitz as firms brace for a fallout. Experts see a long road ahead.

China will lower tariffs on whisky imports to 5% from 10%, in a boost to Britain's whisky industry after the two countries' leaders met this week to repair fraught ties.

World leaders were making the trip to Beijing for the first time in years to refresh their partnership with the world's second-largest economy.