U.S. and India Rush to Ink Stopgap Trade Pact Before June Deadline
Trade negotiators scramble to finalize terms—because nothing says ''diplomatic progress'' like a last-minute deal cobbled together before the fiscal quarter ends.
Key details remain under wraps, but insiders hint at tech and agricultural concessions. Will it hold? Or just buy time until the next round of brinkmanship?
Meanwhile, Wall Street analysts yawn—another non-crypto ''breakthrough'' that won''t move markets.
Confident Investing Starts Here:
- Easily unpack a company''s performance with TipRanks'' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks'' Smart Value Newsletter
“The negotiations held with the U.S. side were productive and helped in making progress towards crafting a mutually beneficial and balanced agreement including through achievement of early wins,” said an Indian government source.
U.S.-India Could Reach Agreement this Month
Indian government sources added that the two countries discussed lowering tariffs, industrial and agricultural trade, and non-tariff measures. Trade talks will continue as the U.S. and India work to finalize an initial tranche of the interim deal, which is expected to be signed by the end of June. Afterwards, the two sides will begin working on a more comprehensive bilateral trade deal with a goal of signing its first tranche in September or October.
In 2024, the U.S. exported $41.53 billion of goods to India while importing $87.33 billion of goods, resulting in a goods trade deficit of $45.80 billion.
The iShares MSCI India ETF (INDA) has returned 4.94% year-to-date, outpacing the S&P 500’s (SPX) return of 2.69%.
