Referring to Trump's concerns about the high U.S. trade imbalance with India, Agarwal said average tariffs on goods imported from the United States, are relatively low, and imports, especially of crude oil and liquefied natural gas, could increase this year.

India is reviewing import tariffs on over 30 items, including luxury cars and solar cells, to potentially increase imports from the U.S. This move aims to reduce average tariffs and improve trade ties amid global trade tensions.

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The two leaders share cordial relations but experts say US's concerns over tariffs, illegal immigration might strain bilateral ties.