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US and India Near Interim Trade Deal Ahead of July 9 Tariff Deadline

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Published Jul 1, 2025, 08:21 AM

The United States and India are racing to conclude an interim trade agreement before 9 July, when a 26 % reciprocal tariff on Indian exports to the U.S. is due to take effect. An Indian negotiating team has extended its stay in Washington, and White House Press Secretary Karoline Leavitt told reporters the two sides will “hear about the trade deal very soon,” calling India a strategic Indo-Pacific ally.

Talks remain snagged on U.S. demands for deeper tariff cuts on farm goods, automobiles and alcoholic beverages, while India is seeking relief from the impending 26 % levy and existing duties on steel and auto components, according to Indian officials cited by Reuters. New Delhi has ruled out concessions on sensitive segments such as dairy and genetically modified crops but has offered limited tariff reductions on select nuts, fruits and energy products, sources familiar with the discussions said.

President Donald Trump reinforced expectations of an agreement, saying on 26 June that his administration had “just signed” a trade deal with China and that a “very big” pact with India could follow. Any interim accord would serve as the first tranche of a broader bilateral trade pact that both governments aim to finalise by autumn 2025, with the long-term goal of doubling annual merchandise trade to about US$500 billion by 2030.

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#United States #India #Indian #Washington #White House #Karoline Leavitt #Reuters #New Delhi #Donald Trump #China

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Sources

reuters.com(5)economictimes.indiatimes.com(4)hindustantimes.com(4)indiatoday.in(3)

IndiaToday

@IndiaToday

India is inching closer to finalising an interim trade agreement with the United States, potentially as early as this week, according to a news report citing individuals briefed on the discussions. #India #UnitedStates #Tradedeal #news

Business Standard

@bsindia

India is on track to finalise an interim trade deal with the United States as soon as this week to avoid US President Donald Trump’s reciprocal tariffs. #IndiaUSTradeDeal #TrumpTariffs #Tariffs #DonaldTrump | @swatigandhi08

The Daily Star

@dailystarnews

#India is on #track to #finalise an #interim #trade #agreement with the #US as soon as this week, the #FinancialTimes reported on Tuesday, citing two people briefed on the #talks.

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