India, US Negotiate Interim Agricultural Tariff Deal

India and the US are engaged in high-level negotiations to finalize an interim tariff agreement, targeting reduced tariffs in key sectors such as agriculture and automobiles. An announcement is expected by the end of the month, ahead of a July 9 deadline set by President Trump. India is offering concessions like lowering average tariffs to 10% and near-zero duties with quotas, aiming to secure increased US market access and strengthen supply chain linkages. However, India is cautious about opening its farm and dairy markets due to domestic political concerns. A NITI Aayog working paper recommends a dual-track approach, combining selective US tariff concessions with domestic agricultural reforms to boost competitiveness. These talks are part of a broader global effort to recalibrate agricultural trade relationships amid ongoing international trade tensions.