The Trade Clock Is Ticking: The Best Time Was Trump’s First 100 Days, The Next Best Is Now

Since Trump's 90-day tariff break is set to expire on July 8, India is accelerating talks to finalize a Bilateral Trade Agreement (BTA) prior to new tariffs. While expectations of a deal during the break period may be fading away (talks could take 6+ months), the officials are concentrating on "early wins" like lowering tariffs on solar cells, whiskey, and EVs to build momentum.

 

Key developments

 

Concessions: India has already lowered digital ad taxes and duties on bourbon whiskey, luxury cars, and solar tech.

 

Sticking points: US agricultural market access demands are at odds with India's protectionist policies.

 

Mission 500: Both countries aim to double bilateral trade to $500 billion by 2030, including a first-tranche BTA by fall 2025.

 

Treasury Secretary Scott Bessent characterized India as a "frontrunner" for early deals, citing its high tariffs as a bargaining asset

 

Sources: Moneycontrol, Economic Times, Asia Times, India Today