Global trade turbulence keeps investors on alert as India edges closer to interim US deal

Persistent trade tensions continue to reshape global business landscapes as the U.S. moves to implement tariffs on key economies—including Japan, South Korea, Bangladesh and others—with rates ranging from 25–35%, now postponed to take effect on August 1. The delay provides a fleeting window for negotiations, with market participants keenly watching countries like India and the EU. India appears to be making notable progress toward a preliminary bilateral agreement with the U.S., expected imminently. Though this so-called "mini‑deal" is reportedly limited to goods and excludes sensitive areas like services and labor, it stands to offer a modicum of relief for exporters anxious about reciprocal levies. The potential accord represents strategic diplomacy in the face of U.S. trade leverage, and it could pave the way for broader engagement later in the year.