<h1>India and United States negotiate trade deal to resolve steep tariff uncertainty, affecting exporters, currencies, and markets</h1> India and the United States have begun negotiations on a proposed trade agreement aimed at resolving uncertainties caused by recent steep tariffs that affect exporters. Talks, led by respective chief negotiators, occur amid market volatility: the rupee strengthened to 88.08 against the dollar, equity indices rose, foreign institutional investors net-sold domestic equities, and oil and dollar indices moved lower. Market commentary flagged possible Federal Reserve rate action as a near-term driver of currency movement. The negotiations could materially affect tariff-related obligations, export compliance risks and market expectations pending the agreement and concurrent macroeconomic developments.