India-US trade deal faces uncertainty amid tariff disputes
Talks for a new trade deal between India and the US have stalled, mainly because both sides can't agree on tariffs.
The US wants India to lower taxes on things like corn and wheat, but India is worried about protecting local farmers' jobs.
There's also hesitation from India to let in more US medicines and car parts, fearing it could hurt local businesses.
Tariff differences a big sticking point
Tariff differences are a big sticking point—some Indian taxes on US goods go up to 68%, while the average US tariff is just 5%.
Even though India has offered some compromises, the US feels it's not enough.
On top of that, geopolitical tensions are adding pressure, but trade between the two countries is still growing in areas like pharmaceuticals and petrochemicals.
Both sides know striking a fair balance is key for their future partnership.