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India and US Negotiate Crucial Trade Deal Before July 9 Deadline Amid Tariff Tensions and Market Access Challenges

India and US Negotiate Crucial Trade Deal Before July 9 Deadline Amid Tariff Tensions and Market Access Challenges

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 As we approach the July 9 deadline, India and the US are engaged in intense negotiations for an interim trade deal. According to India Today, this deal is likely to be signed within the next 48 hours, marking significant progress in their trade relations. The US had initially announced a 26% tariff on Indian imports as part of its reciprocal tariffs, but this was suspended for 90 days to allow countries to strike a deal.

The Trump administration has been pushing for reduced tariffs and increased market access, particularly in agriculture and dairy sectors. However, India has been resistant to concessions on these sensitive areas, aiming to protect its domestic farmers from low-priced American imports. Politico reports that while some agreements have been reached on agricultural issues and energy purchases, finalizing the deal has been challenging due to the US demands for significant trade barrier reductions.

The Economic Times notes that the deal might be unveiled in phases, with some concessions on apples and imports of certain GM-based farm products used in animal feed. Despite these negotiations, India's export trade is not expected to be severely impacted by the tariffs, as US exports account for only 18% of India's total exports, and key sectors like pharmaceuticals are exempt from tariffs.

The US has imposed a flat 10% tariff on all countries starting April 10, 2025, with specific exemptions and additional tariffs for countries like China and Hong Kong. As the July 9 deadline approaches, listeners can expect significant developments in the India-US trade front, with implications for both countries.

Thank you for tuning in to this episode of "India Tariff News and Tracker." Don't forget to subscribe to stay updated on the latest developments in India-US trade relations.

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