India, US interim trade deal unlikely before Aug.

 

The prospects of an interim trade deal between India and the United States before Washington’s August 1 deadline have dimmed, as talks remain deadlocked over tariff cuts on key agricultural and dairy products. US President Donald Trump threatened a 26% tariff on Indian imports in April but paused implementation to allow for talks. That pause ends on August 1, though India has yet to receive a formal tariff letter, unlike over 20 other countries. India’s trade delegation, led by chief negotiator Mr Rajesh Agrawal, returned from Washington after a fifth round of talks without a breakthrough. An interim deal before August 1 therefore looks difficult, though virtual discussions are ongoing. Talks are stalled as New Delhi is refusing to open its politically sensitive agriculture and dairy sectors, while Washington is resisting India’s demand for relief from higher tariffs on steel, aluminium and autos, as per a report.

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