Donald Trump’s July 9 Tariff Deadline Looms: All You Need To Know

The much-dreaded July 9 deadline set by U.S. President Donald Trump is around the corner, with the pause on reciprocal tariffs due to expire. Trump has made it clear there will be no turning back on reciprocal tariffs. Speaking aboard Air Force One, he launched a scathing attack on Japan, threatening to raise tariffs from 30% to 40%, accusing Japan of refusing tariff concessions on U.S. rice and limiting market access for U.S.-based auto companies.

Meanwhile, India is pulling out all the stops to finalise a Bilateral Trade Agreement (BTA) with the U.S. before the July 9 deadline. The Indian delegation had initially aimed to conclude negotiations by August 30, but prolonged talks forced them to extend their stay in the U.S. Trump, however, has sounded optimistic about the prospects of a deal with India.
 

Speaking to reporters, Trump said, "I think we are going to have a deal with India. And that is going to be a different kind of deal. It is going to be a deal where we are able to go in and compete. Right now, India does not accept anybody in. I think India is going to do that, and if they do that, we are going to have a deal for much less tariffs."

Negotiations are covering a wide range of subjects, from agriculture to textiles. India has made its stance clear that any terms impacting agricultural livelihoods will not be accepted. The U.S. is pushing for greater access for genetically modified fruits and vegetables in the Indian market, which India argues would harm its farmers. On the other hand, India is seeking greater market access for its exports, including textiles, gems and jewellery, and leather goods.

A major flashpoint in the negotiations is India’s promising dairy sector. The U.S. wants expanded access, but India has consistently refused to open this sector in nearly every free trade agreement it has signed. Despite U.S. pressure, India has maintained its stance this time as well.

Just days ahead of the July 9 deadline, Trump announced that, after intense diplomacy, the U.S. and Vietnam had managed to secure a trade deal reducing tariffs to 20%. This agreement follows earlier U.S. trade deals with the UK and China.
 
Also Read: Fraud Tag On RCom Loan Tanks RPower, Reliance Infra Shares - Details