India-US Trade Deal LIVE UPDATES: India-US Interim Trade Deal Likely Within 48 Hours
✍️ Written by: Zubair Amin
India-US Trade Deal LIVE UPDATES: Talks Enter Final Stretch As Donald Trump Pushes For Tariff Agreement Before July 9 Deadline
India-US Trade Deal Live Update: Trade negotiators from the US and India are working against the clock to finalize a tariff-reducing agreement before President Donald Trump’s July 9 deadline. However, Reuters reports that sticking points over agricultural and dairy exports remain unresolved.
The ongoing negotiations come after Trump announced a separate deal with Vietnam, lowering US tariffs on many Vietnamese products to 20% from a previously threatened 46%. Trump also claimed that US goods could now enter Vietnam duty-free, though he provided few specifics.
India-US Trade Deal: New Delhi Resists Pressure on Agricultural Imports
President Trump had earlier threatened to impose a 26% tariff on Indian goods under his April 2 “Liberation Day” tariff strategy. That figure was later reduced to 10% to allow room for negotiations.
According to reports quoting officials in India’s commerce ministry, an Indian trade delegation has remained in Washington since talks began last Thursday and Friday, indicating a willingness to continue discussions if needed. However, treports mention that India will not concede on certain agricultural and dairy issues.
“It is unacceptable to lower tariffs on genetically modified corn, soybeans, rice and wheat grown in the US,” Reuters quoted one official.
India, however, may consider reducing tariffs on select items such as walnuts, cranberries, medical devices, automobiles, and energy products.
Washington Sees Deal Within Reach As India-US Trade Deal Talks Continue
Reuters quoted a US official familiar with the talks said there were encouraging signs that a deal could be near. “There’s been intense and constructive effort to close a deal. I think both sides understand the strategic importance, beyond the economic importance, of closing a deal.”
The negotiators, according to the reports, have been advised to prepare for a potential announcement.
President Trump, speaking aboard Air Force One on Tuesday, expressed optimism about reaching a deal with India that would benefit both economies. He said the agreement could reduce tariffs on both sides and create new opportunities for American companies in India’s market of 1.4 billion people.
Also Read: Donald Trump Imposes 20% Tariff On Vietnamese Imports Amid Trade Deal Breakthrough
Live Updates
- 13:07 (IST) 03 Jul 2025
India, US Close to Finalising Interim Trade Deal Amid Key Sectoral Hurdles
India and the United States are nearing a breakthrough on an interim trade deal, with talks extended in Washington to resolve differences. While the US seeks access to India’s agricultural, dairy, and genetically modified crop markets, India remains firm due to concerns over farmers’ livelihoods and food safety. New Delhi is pushing for tariff concessions on key labour-intensive exports like footwear, garments, and leather. Sources suggest agriculture and dairy may be excluded from the deal. Both sides are now focused on reciprocal tariff cuts, with hopes that Indian exports to the US could double in the next three years. ...
- 12:09 (IST) 03 Jul 2025
Indian Markets Open in Green; Investors Watch US Tariff Deadline Closely
Indian stock markets opened with gains on Thursday, but caution prevailed as investors remained concerned about the looming US tariff deadline.
The Nifty 50 index began the day at 25,505.10, rising by 51.70 points or 0.20 per cent. Similarly, the BSE Sensex opened at 83,540.74, marking a marginal gain of 131.05 points or 0.16 per cent.
Market experts noted that while domestic factors are supporting the market, global volatility, especially uncertainties around the US-India trade deal, is keeping traders on edge.
(Source: ANI)
- 09:13 (IST) 03 Jul 2025
India Seeks Face-Saving Compromise in Trade Talks with U.S., Says Former Envoy
India and the U.S. are locked in ongoing trade negotiations, with experts urging a face-saving compromise. Former Indian envoy to the U.S., Meera Shankar, told NDTV Profit that “there are no carrots” for India in the current U.S. stance and described Trump’s approach as a “stick-first” tactic. She also warned against overconfidence in India replacing China in U.S. markets. Meanwhile, Pramod Bhasin, Chairman of ICRIER, told NDTV Profit that much of Trump’s rhetoric should be ignored and that India can reduce tariffs on products like whiskey, wine, and walnuts to boost exports without harming domestic producers. ...
- 09:06 (IST) 03 Jul 2025
After Vietnam Deal, US and India Race to Finalize Trade Agreement: Sources
Trump aims to boost U.S. market access in India, while both sides recognize the deal’s strategic value. India’s trade team remains in Washington, with talks ongoing. Meanwhile, Trump warned of higher tariffs on Japan and confirmed a new trade deal with Vietnam, reducing tariffs from 46% to 20% on several goods.
(Source: Reuters)
- 08:58 (IST) 03 Jul 2025
Meanwhile, BTA Is On Track
Beyond the immediate interim deal under discussion, both sides are working toward a broader Bilateral Trade Agreement (BTA). The first phase of this ambitious pact is expected to be finalised by fall 2024, with the ultimate goal of more than doubling bilateral trade from $191 billion now to $500 billion by 2030.
