India, US interim trade deal expected before July

India is discussing a US trade deal structured in three tranches and expects to reach an interim agreement before July when Trump’s reciprocal tariffs are set to kick in. The interim deal will likely cover areas including market access for industrial goods, some farm products, and addressing some non-tariff barriers, such as quality control requirements. The second stage may be a broader and more detailed agreement timed for around September to November, likely covering the 19 areas outlined in the terms of reference agreed by the two sides in April. The timing of this part of the deal may be aligned with an expected visit by Trump to India for the Quad Leaders’ Summit. The final leg of the deal will likely be a comprehensive agreement that would follow once there’s approval from the US Congress, possibly concluded only next year, as per a report.

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