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Efforts to finalise a bilateral trade agreement between India and the United States have stalled again, with neither side detailing reasons for the delay. Complications include a new U.S. law that paves the way for up to 100% tariffs on Indian goods due to New Delhi's purchase of Russian oil.
Senior officials from India and the United States have indicated that long-running efforts to finalize a bilateral trade agreement have stalled again. The two nations had agreed to a framework for the deal in February, which reduced a punitive tariff from 50% to 18%.
India and the United States have indicated long-running efforts to finalize a bilateral trade agreement have stalled, again. Neither side has detailed reasons for the delay.
Senior officials from India and the United States have indicated that efforts to finalize a bilateral trade agreement have stalled once more. The two nations had agreed to a framework in February, which reduced punitive tariffs on certain goods.
Rupee expected to open slightly weaker as stalled US-Iran talks lift oil and Treasury yields; traders say RBI intervention has repeatedly cushioned it near 96 per dollar.
EXECUTIVE SUMMARY * TRUMP HAILS IRAN TALKS EVEN AS TEHRAN SETS 'FIRM POSITIONS': #0244e48b-2945-4b3b-8085-728a924ddf38 * ZELENSKY ASKS TRUMP FOR WINTER ARMS PACKAGE, EXPECTS ENERGY-CEASEFIRE PUSH: WSJ: #cddd3044-ae77-4efa-9233-fb28b1e6f368 * NAGEL SAYS 'VIGILANT' ECB MAY NEED MILDLY RESTRICTIVE RATES: #13be4029-5b8c-40
* Oil has continued to trend lower during Wednesday's APAC session as talks continue on the sidelines of this week's UN gathering. The fact negotiations are even taking place to facilitate Middle East energy shipments is driving optimism in markets but the situation remains very precarious. UST futures are higher, but
EXECUTIVE SUMMARY * TRUMP HAILS 'VERY GOOD' IRAN TALKS FOLLOWING ANNIHILATION THREAT - BBG: #cdbad0a1-5c8d-4cdb-9819-370162b99299 * ZELENSKY ASKS TRUMP FOR WINTER ARMS PACKAGE, EXPECTS ENERGY-CEASEFIRE PUSH - WSJ: #a4c79a68-e487-466b-a806-4885fa3200e0 * LASTING SHOCKS, FIRMING DEMAND REQUIRE FED ACTION - BARKIN - MNI
US gasoline futures trade above $3.20 per gallon at a three-week high, while the average US pump price reaches $4.06, as Middle East talks stall and refinery disruptions tighten supply.