As Donald Trump intensifies trade efforts, India is likely to finalize a trade agreement with the US, with a deadline extension granted until August 1. While India anticipates finalizing a deal, experts caution that any agreement might not shield Indian exports from future unilateral tariff increases.

India is currently eyeing an extended deadline for reciprocal tariffs as the US imposed 25 percent tax on imported goods from Japan and South Korea, kicking in from August 1.

Tariffs are subject to change, upward or downward, depending on our country’s relationship with yours,' says Trump in the new letters that were sent to the respective countries last night.