Sensex Today | Stock Market close, Friday, July 4, 2025: The Nifty Midcap 100 settled flat with a negative bias and Nifty Smallcap 100 was up 0.03 per cent
Indian and US officials have been engaged in intense negotiations over last few days to iron out differences in a bid to secure a deal before a July 9 deadline
While the US levy on Vietnam is lower than the 46 per cent initially imposed by President Donald Trump in April, it's double the 10 per cent universal base rate being applied
The push comes as Trump announced an agreement with Vietnam that cuts US tariffs on many Vietnamese goods to 20 per cent from his previously threatened 46 per cent
That will hit products with components from China and possibly other nations, which are routed through Vietnam or subject to only minimal final assembly before being exported to the US
Donald Trump has announced a trade deal with Vietnam imposing tariffs on imports and transshipping, while granting the US full market access and zero tariffs on American goods
Trump said he believed India was ready to lower trade barriers for US companies, a move that could pave the way for an agreement and avert the 26 per cent tariff he had announced on April 2
Trump for weeks has sought to exert leverage over trading partners with threats to set high levies on governments he sees as being difficult
On a US visit, EAM S Jaishankar said a successful trade deal was possible if both sides found a balance, but stressed that the talks remain intricate and unresolved
Even with those high stakes, it was still unclear whether the administration would hold firm on the deadline or extend it to allow more time for talks
India has hardened its position on issues related to agriculture as negotiations with the US team in Washington have entered a crucial stage, an official said on Monday. The official also said that the stay of the Indian team, headed by special secretary in the department of commerce Rajesh Agrawal, is expected to be extended further. The team is in Washington for negotiations on an interim trade agreement with the US. Both sides are rushing to close a deal ahead of the July 9 deadline for the full implementation of a 26 per cent reciprocal tariff which has been suspended since April. "If the proposed trade talks fail, the 26 per cent tariffs will come into force again," the official added. The stay of the Indian officials has already been extended for three days until June 30. Initially, the delegation was scheduled to stay for two days with the talks having commenced on June 26. Another official said that the commerce ministry has informed domestic exporters and industry that th
Agreements with as many as a dozen of the US's largest trading partners are expected to be completed by the July 9 deadline, top Trump advisers said this week
US President Donald Trump last week said "a very big" deal with India was likely soon amid hardening stance of both the nations
India and the US are engaged in negotiations for an interim trade deal and are trying to finalise the pact before July 9, sources said on Monday. The high tariffs announced by the US on April 2 were suspended by the Trump administration till July 9. The US, on April 2, imposed an additional 26 per cent reciprocal tariff on Indian goods but suspended it for 90 days. However, the 10 per cent baseline tariff imposed by America remains in place. India is seeking full exemption from the additional 26 per cent tariff. "We are very keen, we are engaged, we are trying. Both sides are trying, but both sides have to be happy," sources said when asked if the two countries are keen to finalise an interim trade agreement by July 9. There are always certain areas which are difficult in a trade agreement, they added. Agriculture and dairy sectors are "difficult and challenging areas for India. And India has not opened up dairy in any of its free trade pacts," one of the sources said. The US wan
For other trading partners, the US-China deal, as it currently stands, suggests that tariffs would settle at significantly higher levels than before the announcement of the so-called reciprocal tariff
Concessions unlikely on grains; approach lenient towards almonds, blueberries
Trump's tariffs are already weighing on the UK's beleaguered steel industry, with some manufacturers saying American orders have dried up
US Commerce Secretary Howard Lutnick said in Washington on Monday that trade negotiations were progressing and a deal could be finalised soon
Why stock markets fell today: Indian equity benchmark fell, tracking Asian markets as trade tensions flared up over the weekend with fresh steel and aluminium tariffs by the US
US President claims China "totally violated" agreement as trade tensions resurface despite 90-day tariff truce