Indian officials are hoping to secure a trade deal with US President Donald Trump at a lower tariff rate than he’d agreed with Indonesia as New Delhi races to meet an Aug. 1 deadline. Trump said Tuesday the US will impose a tariff rate of 19% on imports from Indonesia, down from a threatened 32%, and will be able to ship American goods to the country tariff-free. The US president later told reporters that the India deal would be “along that same line” and “we’re going to have access into India.” On Wednesday, he again said the US was “very close” to a deal with India.
India is seeking more favorable rates than Indonesia and the 20% tariff Trump has said he’ll impose on Vietnam, officials in New Delhi said, asking not to be identified because the discussions are private. The US and India are working toward a deal that would reduce proposed tariffs to below 20%, Bloomberg.News previously reported, with a negotiating team currently in Washington to advance the talks New Delhi is hoping for a tariff that would give it a competitive advantage against its peers in the region, officials said. India believes the US doesn’t view it as a transshipment hub like Vietnam and other Southeast Asian nations, and negotiations so far suggest India’s tariff rate would be better than those countries, one of the people said. India’s Ministry of Commerce and Industry didn’t immediately respond to an email seeking further comment. GLOBAL INSIGHT: Delhi’s Trade Math in Talks with Trump Soumya Kanti Ghosh, chief economist of State Bank of India, the largest government-owned lender, and a member of the prime minister’s Economic Advisory Council, said the negotiating team would be hoping to bring the tariff down to below 10%. “And in the bargain, the US will expect significant concessions for its goods when they decide to enter India,” he said. While India is unwilling to open up the agricultural and dairy sectors, it may give concessions in non-agricultural sectors, he said. India has already proposed to reduce tariffs on American industrial goods to zero if the US does the same. New Delhi has also offered greater market access to some American farm products and has also raised the possibility of buying more Boeing Co. planes. Aside from Indonesia, Trump has also announced trade deals with the UK and Vietnam, and a truce with China. Trump said Jakarta had agreed to purchase $15 billion in US energy and $4.5 billion worth of agricultural products along with Boeing planes. The latest development shows that tariff rates are gravitating toward 15%-20% a range that Trump himself has indicated as his preferred level, said Brian Tan, Barclays Plc’s economist in Singapore. The tariff letters sent to trading partners so far are likely a negotiating tactic to bring governments back to the table with better offers for the US, he said, “allowing the Trump administration to secure superior ‘deals’.” Malaysia’s trade minister said he’s waiting to see the details of the Indonesia agreement and the country is still in negotiations with the US on its own tariffs, The Star reported. “Most importantly, we must ensure that this is a negotiation beneficial to both countries,” Tengku Zafrul, minister of investment, trade and industry, was quoted by the newspaper as saying. “It must be win-win.”
Source: The Economic Times
Prolonged trade discussions between India and the US are causing uncertainty for Indian businesses, leading to a slowdown in export orders across sectors like electronics, textiles, and seafood. US clients are adopting a cautious approach, delaying new orders and seeking clarity on tariffs compared to countries like China and Vietnam.
Source: The Economic Times
NATO Secretary General Mark Rutte has threatened India, China, and Brazil with 100% secondary sanctions if they continue trading with Russia. He urged these nations to pressure President Putin for serious peace talks with Ukraine.
Source: The Economic Times
Donald Trump suggests a potential trade agreement with India. This statement occurred during a meeting with Bahrain's Crown Prince and Prime Minister at the White House. Trump mentioned the possibility of another deal with India. Discussions are underway, signaling a positive outlook for economic cooperation. This development could strengthen ties between the two nations. Further details are awaited.
Source: The Economic Times
Textiles Minister Giriraj Singh has highlighted India’s strengths as a global textile hub in Tokyo. During the second day of his official visit to Japan, the Minister held a series of high-level meetings with major Japanese companies and inaugurated the 16th India Trend Fair 2025. The fair is one of the largest platforms for Indian textile exporters to connect directly with Japanese buyers and is expected to further deepen bilateral textile trade.
The Minister met with the leadership of YKK Corporation, the world’s largest manufacturer of zippers and fastening products. He also held a meeting with the President of Workman Co, a leading company in workwear and functional apparel. Mr Singh also held discussions with Konica Minolta, a global player in digital and industrial printing. He invited Japanese companies to expand operations in India and contribute to ESG and sustainability goals.
Source: News of Air
Apparel Export Promotion Council (AEPC) Chairman Sudhir Sekhri said that numbers of meetings were held between companies of the two countries in the apparel sector to business opportunities. Huge opportunities are there to increase collaboration between Indian and Japanese firms in the textiles sector, and companies from Tokyo are keen to invest here, AEPC said on Wednesday. Apparel Export Promotion Council (AEPC) Chairman Sudhir Sekhri said that numbers of meetings were held between companies of the two countries in the apparel sector to explore business opportunities. A number of domestic firms are participating in the India Tex Trend Fair (ITTF) in Tokyo. "We have appealed to increase their (Japan) sourcing and invest more in India. We had successful meetings with major brands like Uniqlo, Adastria, Toray, Itokin company, Broque Japan, Daiso, along with YKK and Pegasus," he said.
The Indian industry, he said, is committed to meet Japanese quality norms. "We invite all our Japanese partners to engage with Indian exhibitors, explore collaborative possibilities, and experience firsthand the strength and reliability of India as a preferred sourcing destination," Sekhri said. The fair was inaugurated by Textiles Minister Giriraj Singh in Tokyo. It is a flagship textiles event, organised in collaboration with the Embassy of India, the Ministry of Textiles, AEPC, and the Japan India Industry Promotion Association (JIIPA). The government is taking a series of measures to boost domestic textiles manufacturing, such as seven PM MITRA Parks.
The government is taking a series of measures to boost domestic textiles manufacturing, such as seven PM MITRA Parks. India has a golden opportunity to significantly expand its garment exports to Japan, the council said, adding duty-free trade, strong sustainability credentials, and a flexible manufacturing base are strong foundations. " However, catching up in quality standards (especially in MMF), simplifying trade procedures, and adhering to Japanese compliance norms are critical to capturing a greater share of the US, USD 35 billion Japanese apparel market," it said. India's garment exports to Japan stood at USD 234.5 million in 2024. Tokyo imported these goods worth about USD 23 billion last year. India's share in this is just one per cent.
Source: Mfg. Economic Times
June was the busiest month in the 117-year history of the Port of Los Angeles, which handled 892,340 twenty-foot equivalent units (TEUs), 8 per cent more than last year. Loaded imports totalled 470,450 TEUs in June 2025, up 10 per cent from 2024. Loaded exports reached 126,144 TEUs, a 3 per cent increase year on year. The port also processed 295,746 empty container units, up 7 per cent. In the first half (H1) of 2025, the Port of Los Angeles handled 4,955,812 TEUs, 5 per cent more than in the same period of 2024.
“Some importers are bringing in year-end holiday cargo now ahead of potential higher tariffs later in the year. July may be our peak season month as retailers and manufacturers bring orders in earlier than usual, then brace for trade uncertainty. Meanwhile, the Port of Los Angeles closed its fiscal year on June 30, ending the period handling 10.5 million TEUs. That marks our third fiscal year exceeding 10 million TEUs, the only Western Hemisphere port to do so. And this time we reached that mark without a single vessel backed up,” said Port of Los Angeles executive director Gene Seroka.Bobby Djavaheri, president of Yedi Houseware, a family-owned business in Los Angeles, joined Seroka for the briefing and discussed the impact tariffs have had on small and mid-sized businesses.
Source: Fibre2fashion
The office of the US trade representative (USTR) yesterday initiated an investigation to determine whether Brazil’s acts, policies and practices related to digital trade and electronic payment services; ‘unfair’, preferential tariffs; anti-corruption ‘interference’; intellectual property protection; ethanol market access; and ‘illegal’ deforestation are unreasonable or discriminatory and burden or restrict US commerce.
The Section 301 investigation was launched into Brazil’s “attacks on American social media companies as well as other unfair trading practices that harm American companies, workers, farmers, and technology innovators,” said USTR Jamieson Greer.
“USTR has detailed Brazil’s unfair trade practices that restrict the ability of US exporters to access its market for decades in the annual National Trade Estimate (NTE) Report. After consulting with other government agencies, cleared advisers, and Congress, I have determined that Brazil’s tariff and non-tariff barriers merit a thorough investigation, and potentially, responsive action," he was quoted as saying in an official release. Brazil may undermine the competitiveness of US companies engaged in digital trade and electronic payment services, for example, by retaliating against them for failing to censor political speech or restricting their ability to provide services in the country, the release noted. Brazil accords lower, preferential tariff rates to the exports of certain globally competitive trade partners, thereby disadvantaging US exports, it noted. Brazil’s failure to enforce anti-corruption and transparency measures raises concerns in relation to norms relating to fighting bribery and corruption, it said. Brazil apparently denies adequate and effective protection and enforcement of intellectual property rights, harming American workers whose livelihoods are tied to America’s innovation- and creativity-driven sectors, the release added. Brazil has walked away from its willingness to provide virtually duty-free treatment for US ethanol, and instead, now applies a substantially higher tariff on US ethanol exports.
Source: Fibre2fashion
President Donald Trump yesterday announced the US administration will impose over 10-per cent tariffs on goods from more than 100 smaller countries, including those in Africa and the Caribbean. He also unveiled a new trade deal with Indonesia, including a 19-per cent tariff on all Indonesian goods entering the United States. American exports will enjoy full access to Indonesia’s markets, devoid of tariffs and trade barriers. The deal replaces a 32-per cent tariff on Indonesian imports proposed earlier.
“We’ll probably set one tariff for all of them [the smaller nations],” Trump told reporters.
US commerce secretary Howard Lutnick said the plan would focus on nations that generally engage in a modest level of trade with the United States and their contribution in trade balances are relatively insignificant, when addressing the aim of reducing trade imbalance with the rest of the world, according to US media reports.
Source: Fibre2fashion
