India & US Race for "Early Wins" in Trade Deal Before July Tariff Deadline

India and the US are racing against time to seal "early mutual gains" under their bilateral trade agreement (BTA) prior to a 90-day truce for reciprocal tariffs expiring on July 9. Officials intend to agree to a "mini deal" in early July to avoid 26% tariffs on Indian exports like seafood and textil...

India and the US are racing against time to seal "early mutual gains" under their bilateral trade agreement (BTA) prior to a 90-day truce for reciprocal tariffs expiring on July 9. Officials intend to agree to a "mini deal" in early July to avoid 26% tariffs on Indian exports like seafood and textiles and improve market access for US agriculture and technology sectors. The last Washington talks (April 23-25) focused on non-tariff barriers, e-commerce, and customs facilitation, and in-person sectoral negotiations are scheduled by the end of May. The first phase of the BTA with a goal of $500 billion bilateral trade target by 2030 can be finished by September-October 2025. US Treasury's Scott Bessent said talks are "moving well," citing India's lower non-tariff barriers as a major plus. In the meantime, a 10% baseline US tariff continues to be in place, forcing exporters to rush shipments. Sources: Financial Express, Reuters, India Today