US and India progressing on interim trade deal

Business Jul 12, 2025

The US and India are about to seal a temporary trade deal that could drop tariffs on Indian goods to under 20%.
This move would help Indian products stand out against other Asian exports, which still face higher US tariffs.
The agreement may be finalized before August 1, 2025, which would help avoid tariff hikes, and will set the stage for more detailed talks later this year.

Lower tariffs mean Indian exporters catch a break

Lower tariffs mean Indian exporters catch a break, making it easier for them to compete in the US market.
With the US giving extra time for negotiations, both sides are working through tricky issues like agriculture and textiles.
If this goes through, it's a win for India's economy and could shape how these two countries do business together in the future.