India is open to cutting tariffs on more than half of U.S. imports worth $23 billion in the first phase of a trade deal the two nations are negotiating, two government sources said, the biggest cut in years, aimed at fending off reciprocal tariffs. Under the deal, India is open to reducing tariffs on 55% of U.S. goods it imports that are now subject to tariffs ranging from 5% to 30%. New Delhi estimated such reciprocal tariffs would hit 87% of its total exports to the United States worth $66 billion. The Indian government officials warned that cutting tariffs on more than half of U.S. imports hinges on securing relief from reciprocal tax.