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India, US push deadline to strike trade pact to 31 July
Mint Mumbai
|July 09, 2025
India and the US have pushed back their deadline to finalize the trade deal from the earlier 9 July cutoff to mid-July as President Donald Trump, while announcing rates for some countries, decided to enforce retaliatory tariffs from 1 August, said two people aware of the matter.
Unlike 14 countries that have already received formal letters—and others may soon get them—from President Trump outlining revised tariff schedules after a 90-day pause, India will not receive any such communication, the people said, speaking on the condition of anonymity.
The terms of the negotiation with India approved by the US Trade Representative (USTR) await Trump's final sign-off. The Indian side is treading cautiously and not rushing into a pact like the one the US concluded with Vietnam.
"We are seeking a fair and respectable agreement by sticking to the red lines drawn on agriculture and dairy," said the first of the two people cited above.
The main sticking points include dairy, agriculture, digital trade, genetically modified (GM) seeds, and medical services. The US is pushing for more access, while India aims to protect its key sectors.
This story is from the July 09, 2025 edition of Mint Mumbai.
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