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Mini US trade deal likely as genetically modified door ajar

Economic Times

Economic Times · 1m ago

Mini US trade deal likely as genetically modified door ajar

India and the US are making progress towards an interim trade deal. India is open to importing certain genetically modified farm products for animal feed but remains cautious about GM corn and soybean imports. The US seeks tariff reductions across several sectors, while India demands market access for its textile and electronics industries. Talks are ongoing, with potential agreements ahead of the Quad summit. Both countries are navigating complex trade dynamics, including proposed tariffs and geopolitical tensions.

Related News

India weighs GM-free 'self-certification' for US food imports

Economic Times

Economic Times · 1m ago

India weighs GM-free 'self-certification' for US food imports

India and the US are negotiating a trade deal, focusing on the importation of genetically modified (GM) crops. India is considering a self-certification mechanism where US exporters can address India's concerns about GM-free status. This involves the US providing a list of GM-authorized crops and details online, facilitating imports. The talks also extend to the US GM-based animal feed, with India proposing assessments on corn-based genetically engineered Dried Distilled Grains imports within six months.

India, US push for trade pact as deadline nears

Economic Times

Economic Times · 2m ago

India, US push for trade pact as deadline nears

India and the US are engaged in intense discussions to finalize a trade pact before the July 9 deadline, when the 90-day pause on US retaliatory tariffs ends. Key issues include India's demand to roll back tariffs and the US's aim to sell genetically modified crops to India. Both sides have resolved several matters, though some sectors like agriculture remain challenging. A limited trade deal, possibly excluding broader issues, is anticipated.

Indian negotiators extend US stay as trade talks gather pace

Economic Times

Economic Times · 2m ago

Indian negotiators extend US stay as trade talks gather pace

Indian and US negotiators extended their stay in Washington to finalize a trade agreement before new US tariffs are imposed on July 9. Talks were prolonged to overcome key issues, like the US demand for India to open its market to genetically modified crops, which India has declined due to farmer risks. India seeks an agreement that covers both sectoral access and reciprocal tariffs on its exports. Negotiations are ongoing, aiming for an interim trade deal.

India–US trade deal hits rough patch days before 26% tariff deadline

Economic Times

Economic Times · 2m ago

India–US trade deal hits rough patch days before 26% tariff deadline

India and the U.S. are facing challenges in finalizing a trade deal, mainly due to disagreements over tariffs and market access for certain products. India is concerned about the impact of allowing low-duty import of U.S. agricultural goods, which could affect local farmers and raise health concerns with genetically modified foods. The talks face further strain due to other trade-related issues and political tensions, potentially leading to a 26% levy soon.

Cooling CPI offers relief, but Fed rate cut may wait until fall: Matt Orton

Economic Times

Economic Times · 1m ago

Cooling CPI offers relief, but Fed rate cut may wait until fall: Matt Orton

The cooling Consumer Price Index (CPI) offers relief, but a Federal Reserve rate cut may not occur until the fall, according to Matt Orton of Raymond James Investment. He notes that while consumers are showing healthy results and inflation is declining, the current tariffs have not been as inflationary as expected. The upcoming US-India trade deal is likely to focus on specific sectors, potentially impacting energy and defense cooperation, with pharmaceutical tariffs anticipated, affecting major firms in the US and Europe.

India should seek joint statement in US trade talks to avoid misrepresentation: GTRI

Economic Times

Economic Times · 1m ago

India should seek joint statement in US trade talks to avoid misrepresentation: GTRI

India should approach trade talks with the US cautiously, learning from Vietnam and Japan's experiences, according to the Global Trade Research Initiative (GTRI). The GTRI advises New Delhi to demand a jointly issued written statement to prevent misrepresentation. A recent example highlights a discrepancy between Japan's understanding of a trade deal with the US and former President Trump’s portrayal. The need for careful negotiation is emphasized as India continues its trade discussions with the US.

India to come out stronger rather than weaker in current trade challenges, says Arvind Panagariya

Business Today

Business Today · 3m ago

India to come out stronger rather than weaker in current trade challenges, says Arvind Panagariya

Arvind Panagariya, Chairman of the 16th Finance Commission, is optimistic about India's future amid trade challenges. He believes trade agreements with the US and EU will position India advantageously in a 'China Plus One' scenario. With US-China tensions likely to continue, Panagariya foresees India benefiting from successful free trade negotiations with the US, EU, and UK by the year's end, enhancing India's global trade influence and economic prospects.

India, US push deadline to strike trade deal to 31 July

Livemint

Livemint · 1m ago

India, US push deadline to strike trade deal to 31 July

India and the US have extended their deadline to finalize a trade deal to 31 July, as negotiations continue cautiously. While the US has outlined revised tariff schedules for 14 other countries, India has not received such communication. The delay aims to ensure a well-considered agreement, contrasting with the swift US-Vietnam pact. Trade talks are ongoing, with final decisions awaited from both sides, especially the US Trade Representative and President Trump.

No new tariffs after Bilateral Trade Agreement: India wants US assurance

Economic Times

Economic Times · 2m ago

No new tariffs after Bilateral Trade Agreement: India wants US assurance

India seeks assurance from the US that no new tariffs will be imposed post-finalization of a bilateral trade agreement. Both countries are finalizing the deal, with India pushing for concessions in sectors like leather and textiles. India emphasizes a strong mechanism to safeguard against future tariff changes, requiring the US to ensure trade stability. An early harvest deal is anticipated before the July 9 deadline amidst high-level negotiations and concerns over past US trade commitments.

Indian rupee rises 5 paise to 86.26 against US dollar in early trade

Economic Times

Economic Times · 1m ago

Indian rupee rises 5 paise to 86.26 against US dollar in early trade

The Indian rupee appreciated by 5 paise to 86.26 against the US dollar in early trade, boosted by a positive trend in domestic equities. Despite trading in a narrow range, forex traders remain cautious due to uncertainties surrounding global tariffs and India-US trade talks. The dollar index rose slightly as investors anticipate trade deal outcomes. Additionally, domestic stock indices, Sensex and Nifty, saw modest gains, supported by domestic market trends amidst forex market challenges.

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