NEW DELHI — India and the U.S. appear on the verge of concluding an interim trade deal ahead of President Donald Trump’s Wednesday deadline, when Indian goods would start facing 26% “reciprocal” tariffs, as the sides push toward a comprehensive agreement that could be finalized later this year.
The development could help India avoid a steep tariff escalation. It follows a U.S.-Vietnam deal announced on Wednesday in which the U.S. will impose 20% tariffs on Vietnamese goods, lower than the previously threatened 46%.
