US-India trade deal still under negotiation, August 1 deadline looming
The US and India are still at the negotiating table, but haven't reached a trade deal yet—and the August 1 deadline for new tariffs is coming up fast.
The US wants India to drop tariffs on most products right away, while India is pushing back, especially on things like agriculture, dairy, steel, and cars.
Talks will pick up again in August, but officials admit a final deal before the deadline isn't looking likely.
What's at stake?
These talks impact billions in trade between two of the world's biggest economies.
India's exports to the US have jumped nearly 23% this year, so what happens next could affect jobs and prices on both sides.
India wants to protect its homegrown industries but also hopes for lower tariffs on goods that create lots of jobs.
Meanwhile, the US is pushing for easier access for American products like electric vehicles and biotech crops.
If they can't agree soon, expect some bumps in global trade this fall.