Shares of Indian pharmaceutical companies slid 2% on Wednesday after U.S. President Donald Trump said he intends to impose tariffs of about 25% or higher on pharma imports.

India’s top officials said they will continue to cut import taxes as the government looks to work around US President Donald Trump’s plan to impose reciprocal tariffs on trading partners.

President Donald Trump and Indian Prime Minister Narendra Modi held a joint news conference as the two leaders work toward a trade deal and try to reinforce a relationship. Earlie

President Trump is hosting Indian Prime Minister Narendra Modi at the White House Thursday with trade and tariffs expected to be high on the agenda. CBS News chief White House correspondent Nancy Cordes has more.

U.S. President Donald Trump's threat to impose reciprocal tariffs from early April is feeding anxiety in India's export sectors from autos to agriculture, with Citi Research analysts estimating potential losses at about $7 billion a year.

The partnership is a pillar of Washington’s strategy in the Indo-Pacific region but faces challenges on issues including illegal immigration, visas and trade deficits.

US President Donald Trump has announced a new trade policy under which the United States will impose tariffs that match those of other countries. According to Trump, the US will charge a reciprocal tariff based on what other nations charge America—no more,