US, India Near Trade Deal as August 1 Tariff Deadline Approaches

U.S. President Donald Trump announced a 25% tariff on goods imported from India effective August 1, citing India's historically high tariffs and problematic trade ties with Russia as key reasons. Despite this, Trump remains optimistic about ongoing trade negotiations, with India reportedly willing to make significant tariff reductions. U.S. Trade Representative Jamieson Greer emphasized that more negotiations are needed to finalize a comprehensive trade deal, acknowledging India's traditionally protectionist policies. Trump has expressed a desire to speak directly with Indian Prime Minister Narendra Modi before giving final approval to the trade agreement, highlighting their personal rapport. Indian officials have shown cautious optimism, indicating that talks are progressing constructively and aiming to avoid the imposition of the new tariffs. Overall, both sides appear engaged in last-minute talks to reach a deal before the deadline, balancing trade pressures with diplomatic relations.