India, US Near Interim Trade Deal Ahead of Deadline

India and the US are in advanced negotiations for an interim trade agreement, aiming to finalize terms before July 9, the end of a 90-day reciprocal tariff suspension. India has offered substantial tariff cuts on US imports while seeking to maintain higher duties on sensitive agricultural products and secure duty-free access for labor-intensive exports like textiles and footwear. The US continues to press for broader market access in India, particularly for agricultural and genetically modified goods, and has voiced concerns about Indian trade barriers. High-level talks have involved Indian Commerce Minister Piyush Goyal and US Commerce Secretary Howard Lutnick, with a US trade delegation expected in India soon. Both sides view the interim deal as a stepping stone toward a broader bilateral trade agreement and have set an ambitious target to double trade to $500 billion by 2030. President Trump has upheld a hardline approach on tariffs, warning of potential new levies on products such as India-made iPhones.