Overview

• President Trump said the US is “very close” to a trade deal with India during a meeting with Bahrain’s Crown Prince Salman bin Hamad Al Khalifa.
• Both sides are conducting a fifth round of talks in Washington to cap proposed US duties on Indian imports below 20% before an August 1 tariff increase.
• Indian officials are pressing for a rate more favorable than the 19% applied to Indonesia and the 20% imposed on Vietnam.
• New Delhi maintains protections for its agriculture and dairy sectors while offering concessions on industrial and other non-farm goods.
• Negotiators face an August 1 deadline after which broad US import tariffs across more than 150 economies will take effect.