Particle.news

Download on the App Store

India Holds Firm on Trade Terms Ahead of July 9 Tariff Deadline

New Delhi insists on fully vetted terms to protect national interests under looming tariff threat

Image
Image

Overview

  • India and the US are finalizing an interim agreement to avert the reinstatement of Trump’s 26% reciprocal tariffs when the suspension expires on July 9.
  • Commerce Minister Piyush Goyal reaffirmed that India will not rush into deals based on external deadlines and only accepts agreements that offer mutual benefit.
  • Opposition leader Rahul Gandhi criticised the government’s approach, claiming Prime Minister Modi will "meekly bow" to President Trump’s tariff terms.
  • New Delhi has lodged a WTO notification proposing retaliatory tariffs against US automobile safeguard duties as a contingency.
  • In parallel with US negotiations, India is pursuing free trade discussions with the EU, New Zealand, Oman, Chile, and Peru to diversify its export markets.