10:52 AM EDT, 05/05/2025 (MT Newswires) -- India has offered the US zero tariffs on auto components, steel and pharmaceuticals on a reciprocal basis for up to a certain number of imports, Bloomberg reported Monday, citing people familiar with the matter.

Beyond the import threshold, incoming industrial goods would receive the regular level of duties, the people reportedly told Bloomberg.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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