Trump and Modi’s tariff tango: Russian oil, soybeans, and a delayed deal


A long-awaited trade deal between India and the United States may be facing political delays, despite broad agreement that would cut the steep 50 per cent duties imposed on New Delhi by US President Donald Trump to about 15-16 per cent, according to two people familiar with the talks.

The sources, who declined to be identified given sensitive negotiations, said that while Washington is eager to conclude the deal quickly to appease US farmers caught in the crossfire with trade frictions with Beijing in advance of the 2026 US midterm elections, New Delhi has been cautious about making any announcement before the November elections in Bihar – a key state that produces both corn and soybeans – fearing potential political backlash.

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