The U.S. may soon scrap the penal import tariff on Indian goods and also cut the reciprocal tariff to 10-15% from the existing 25%, India’s Chief Economist Adviser V. Anantha Nageswaran said on Thursday.

“My personal confidence is that in the next couple of months, if not earlier, we will see a resolution to at least to the extra penal tariff of 25%,” Nageswaran said at an event in Kolkata.

“It may also be the case that reciprocal tariff of 25% may also come down to levels, which we were earlier anticipating somewhere between 10% and 15%.”

India and the U.S. held “positive” and “forward-looking” trade discussions on Tuesday, New Delhi said, raising hopes for a breakthrough after President Donald Trump imposed punitive tariffs on the South Asian nation for buying Russian oil.

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