India US trade deal stalled over 18% tariff disagreement
Business
The much-talked-about India-US trade deal is on hold because both sides can't agree on tariffs.
The US wants to keep import duties at 18%, but India isn't ready to sign off.
Even though US Secretary of State Marco Rubio says the deal is almost done, this tariff disagreement has everything stuck.
US farm demands complicate India negotiations
It's not just about tariffs. Politics are in play too.
With US midterm elections coming up, the US wants agricultural concessions to appeal to key voters, while India is looking for promises it won't face harsher penalties down the line compared to countries like Vietnam or Bangladesh.
India might even wait until after the elections for a better shot at fair terms.
For now, any big economic benefits from this deal are on ice.