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As on : 11-Jun-2025
Economy - Reports
11-Jun-2025     10:34

Modi-Trump pact inches forward amid tariff tensions

India and the United States have made marked progress toward a long-awaited interim trade deal, with top negotiators meeting behind closed doors in New Delhi. The agreement, expected by late June, aims to pave the way for expanding annual trade to $500 billion by 2030. India resisted US calls for market access in wheat, dairy, and corn, but offered tariff relief on almonds, pistachios, and walnuts. India also pushed for steel tariff exemptions, but Washington declined. With President Trump eager to secure a deal before his 90-day tariff suspension expires, both sides are working to finalize a first-phase pact, with more complex issues reserved for a second tranche by fall.

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