Take it or Leave it": #TRUMP Announces New Tariffs for 12 Countries, But What About India-US Trade Talks?

US President Donald Trump is moving forward with his tariff strategy, planning to send out letters to 12 countries on July 7 regarding new tariffs on imports. The tariffs could reach up to 70% for some countries, starting from August 1. Trump has kept the names of these countries under wraps for now but has said these letters will offer a “take it or leave it” deal with different tariff rates.

Earlier, Trump had imposed a basic 10% tariff on most imports, with higher rates for specific countries like China. However, these higher rates were temporarily suspended until the July 9 deadline.

India's Trade Talks

Meanwhile, a high-level team from India, led by Rajesh Agrawal, has returned from Washington after unsuccessful trade talks. The key issue is agriculture and dairy products, where the US is seeking more access to the Indian market. Despite this, there remains a slim chance that a deal could be finalized before the July 9 deadline.

India's Commerce Minister, Piyush Goyal, made it clear that India will not rush into a deal just to meet the deadline. He emphasized that India will prioritize national interest over any time constraints.

The US is pushing to sell more of its farm and dairy products in India, but this issue is highly sensitive for India, as it impacts the livelihoods of small farmers. India is hoping to make a temporary deal before the July 9 deadline to avoid Trump's 26% tariffs and secure lower taxes on its exports, including textiles, leather, and footwear, which are vital for employment.

For now, both countries continue to engage in negotiations, but it remains to be seen if a breakthrough can be reached before the deadline.

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