India braces for 20-25 pc US tariffs

India is bracing for higher US tariffs on select exports as a temporary measure, according to a report. The tariffs are expected to range between 20% and 25%. The move comes as India holds off on offering new trade concessions ahead of Washington’s August 1 deadline. US demands for greater access to India’s agricultural and dairy markets have stalled trade talks between the two countries. India is resisting these demands, citing potential harm to its domestic farmers and food security. The deadline for a potential interim deal is looming, and with agriculture identified as a major sticking point, a broader agreement before the deadline appears increasingly unlikely. India plans to resume broader trade talks when a US delegation visits in mid-August. The goal is to work toward a comprehensive bilateral trade agreement, potentially finalised by September or October, as per a report.

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