India-US nearing interim trade deal agreement
India's team is in Washington trying to lock in a quick trade deal with the US before July 9.
The goal? To dodge a steep 26% US tariff on Indian goods, which could seriously impact exports like textiles and electronics.
For now, there's a 10% duty, but time's running out.
Stakes are high as US pushes for easier access to markets
If talks fall through, Indian exports could get pricier abroad—bad news for businesses and jobs back home.
The US wants easier access to Indian markets for things like agriculture and broader market access, while India is pushing back to protect its farmers and asking the US to drop tariffs on steel and auto parts.
These disagreements show how tricky it is for both sides to find common ground—and why this deal could shape future India-US trade (and maybe your next phone or car price tag).