Indian Prime Minister Narendra Modi is preparing additional tariff cuts ahead of his meeting with U.S. President Donald Trump that could boost American exports to India and avoid a potential trade war,

A similar move to impose tariffs on steel and aluminium during Trump’s previous tenure led to a cascade of protectionist duties elsewhere in the world, harming Indian exports.

Delhi hopes tariff cuts have put it ahead of the game - but will that satisfy Trump, or is trade action still on the table?

Metal stocks led losses in Indian shares on Monday after President Donald Trump said he would impose new tariffs on all steel and aluminum imports into the U.S., in addition to further reciprocal tariffs.

Concessions are being planned on items that India primarily sources from the US or has potential to buy more, including dish antennas and wood pulp.