Overview

• President Trump said a “very big” trade deal with India could follow a newly signed agreement with China on rare earth shipments.
• An Indian delegation led by chief negotiator Rajesh Agrawal arrived in Washington on June 27 for final discussions before the tariff pause expires.
• The United States is pressing for cuts on Indian duties for farm goods, dairy, automobiles and petrochemicals, while India remains wary of compromising its sensitive agricultural sector.
• U.S. Trade Representative offices plan to send letters to partners, including India, detailing reciprocal tariff rates if no interim accord is reached by the July 9 deadline.
• Both governments aim to boost bilateral trade from about $190 billion in 2024 toward a $500 billion target by 2030, underscoring the wider impact on global commerce.