India-US Trade Update: Next 2 weeks to be extremely crucial amid high-level visits & meetings

As investors continue to weigh incoming tariff updates following changes in the trade landscape since US President Donald Trump's "Liberation Day" announcements in April, the next two weeks are set to be crucial in determining the relations between the two economies. 

On Monday, August 18, China's foreign minister may visit India, sources told Zee Business. 

On August 21, India and Russia's foreign ministers are scheduled to meet. 

These developments will be followed by Prime Minister Narendra Modi's visit to Japan and China at the end of the month. 

Meanwhile, Brazil has proposed an online BRICS summit this year, urging member nations to improve trade and coordination to counter tariffs. The country holds the presidency of the bloc for the year. India is set to assume the BRICS presidency the next year. 

Trump's 25 per cent additional duty on goods imported into the US from India -- taking the total tariff on Indian products to 50 per cent -- is set to come into force from August 27.

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Indian exporters are staring at this incoming levy in the absence of a bilateral trade deal between India and the US despite weeks of negotiations. 

Goods trade between both sides was recorded at about $87 billion in FY25, according to Indian estimates.

India-US trade relations are facing serious strain due to the stalled trade deal negotiations and the imposition of steep US tariffs on Indian goods. 

While both sides have maintained dialogue, with hope for progress, substantial disagreements over market access, tariffs and energy imports have made quick resolution unlikely.