Business Desk mumbai

India is preparing to face higher US tariffs — likely between 20% and 25% — on some of its exports as a temporary measure, as it holds off on fresh trade concessions ahead of Washington's August 1 deadline, two Indian government sources said. Instead, New Delhi plans to resume broader trade negotiations when a US delegation visits in mid-August, with the goal of finalising a comprehensive bilateral agreement by September or October, one of the Indian officials told Reuters.

"Talks are progressing well, and a delegation is expected in Delhi by mid-August,” one of the Indian government officials said, adding that President Donald Trump could issue a tariff letter imposing duties of 20 or 25% in a "worst-case scenario"."However, we assume it would be a temporary measure, considering the five rounds of trade talks that have taken place. A deal will soon be worked out,” the official said.

Trump said on Monday most partners that do not negotiate separate trade deals would soon face tariffs of 15% to 20% on their exports to the United States, well above the broad 10% tariff he imposed in April. His administration will notify some 200 countries soon of their new "world tariff" rate. U.S. Trade Representative Jamieson Greer told CNBC on Monday that talks with India required more negotiations as Trump was more interested in good deals than quick deals.