By Nandita Bose, Trevor Hunnicutt and David Brunnstrom WASHINGTON (Reuters) -India and the U.S. agreed on Thursday to start talks to clinch an early trade deal and resolve their standoff over tariffs as New Delhi promised to buy more U.

WASHINGTON — President Donald Trump is taking a blowtorch to the rules that have governed world trade for decades. The “reciprocal’’ tariffs that he announced Thursday are likely to create chaos for global businesses and conflict with America’s allies and adversaries alike.

Speaking at a press briefing with Prime Minister Narendra Modi, Trump said that PM Modi “in good faith” announced reductions to India's “unfair and very strong tariffs,” which are a “big problem, I must say.