Factors Hindering US-India Trade Deal

India and the United States are facing significant obstacles in reaching a temporary trade agreement after months of negotiations. The main reason is the legal uncertainty surrounding President Trump's tariff plans, along with India's concerns over new trade measures from Washington, such as imposing tariffs of up to 100% on Russian oil, as well as tensions with Pakistan. Despite an understanding of a temporary framework in February and some convergence among negotiators in June, the talks have reached an impasse, especially regarding the agricultural sector and India's requests for competitive advantages on tariffs and the development of its US energy imports. The increase in goods exports to $8.3 billion in August, despite previous 50% tariffs, has boosted the Indian economy. However, ongoing tensions may hinder growth and put additional pressure on the local currency.

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