“Countdown to a Game-Changing Trade: India and U.S. Clash Over 10% Tariff Pact Before Trump’s Deadline”

On Thursday, Indian and U.S. officials kicked off two days of closed-door trade negotiations in New Delhi, aiming to reach an initial agreement before the July 9 deadline imposed by President Donald Trump.

As reported by Reuters, two Indian officials indicated that discussions are primarily aimed at lowering tariffs in agriculture and automobile sectors, along with steps for improved market access.

Top Concerns: Tariff Alignment and Market Access

One official stated that the proposed initiatives include “tariff alignment and quota-based concessions,” with an announcement anticipated before June’s end.

The U.S. delegation is primarily comprised of senior members from the Office of the U.S. Trade Representative, while India’s team is led by chief negotiator Rajesh Agrawal. Trade Minister Piyush Goyal might join the discussions once he returns from Italy, according to another source.

The U.S. seeks expanded access to India’s agriculture and dairy markets, while Indian negotiators advocate for better treatment of domestic exports and collaborative supply chain efforts.

India has suggested reducing average tariffs to match the U.S. base rate of 10%, conditional on mutual agreements.

This round of talks follows a February agreement to establish a phased trade roadmap targeting $500 billion in bilateral trade by 2030. In 2024, India had a $45.7 billion trade surplus with the U.S.

U.S. Commerce Secretary Howard Lutnick recently noted that discussions are progressing well, and a resolution might be reached soon. Neither side has officially commented on the current negotiations.

India Evaluates Crypto Policies in Broader Context

India’s developing stance on cryptocurrency regulation is increasingly overlapping with its trade and investment strategies. As the country negotiates tariff arrangements with the U.S. and other partners, officials are considering how digital asset regulations could influence future market access and capital movement.

Industry representatives believe that tax reforms and clearer regulations could attract more crypto investments to India. They cite the return of companies like Binance and Coinbase as evidence that well-defined rules could bring capital back into the country and support India’s trade objectives.

Although formal relief has yet to be established, the Finance Ministry is reviewing a discussion paper on virtual assets. Executives argue that harmonizing crypto regulations with broader economic goals could enhance India’s position in the global digital market and help achieve the $500 billion trade goal with the U.S.

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The article titled “India U.S. Tariff Pact Races Toward 10% Deal Before Trump’s July 9 Deadline” first appeared on Cryptonews.