India and the US have dug in their heels over a few key issues including Washington’s demand that India open its market to genetically modified crops - an ask New Delhi has rejected, citing risks to its farmers. - Bloomberg
WASHINGTON: The US is working toward an interim trade deal with India that may reduce its proposed tariffs to below 20 per cent, people familiar with the matter said, putting the South Asian nation in a favourable position against its peers in the region.
India doesn’t expect to receive a tariff demand letter - unlike many other nations this week - and anticipates the trade arrangement will be announced through a statement, the people said, asking not to be identified because the discussions are private. The interim deal would allow for continued talks, giving New Delhi space to resolve outstanding issues ahead of a broader agreement expected this fall, they said.
