{"id":51163,"date":"2025-07-28T23:38:25","date_gmt":"2025-07-29T03:38:25","guid":{"rendered":"https:\/\/stockmarketwatch.com\/stock-market-news\/trade-tensions-mount-as-tariff-deadlines-loom-for-india-and-thailand\/51163\/"},"modified":"2025-07-28T23:38:25","modified_gmt":"2025-07-29T03:38:25","slug":"trade-tensions-mount-as-tariff-deadlines-loom-for-india-and-thailand","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/trade-tensions-mount-as-tariff-deadlines-loom-for-india-and-thailand\/51163\/","title":{"rendered":"Trade Tensions Mount as Tariff Deadlines Loom for India and Thailand"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>U.S. Trade Representative Jamieson Greer indicates that more negotiations are required with India before the August 1 tariff deadline, despite earlier optimism for a swift deal.<\/strong><\/li>\n<li><strong>Thailand&#39;s Finance Minister is confident that U.S. tariffs on Thai goods will be significantly reduced from the initially proposed 36% to below 20%, aligning with rates imposed on other ASEAN nations.<\/strong><\/li>\n<li><strong>The August 1 deadline for new U.S. tariffs remains firm, with U.S. Commerce Secretary Howard Lutnick confirming no extensions will be granted.<\/strong><\/li>\n<\/ul>\n<p>The United States is pressing forward with its assertive trade agenda, with critical tariff deadlines approaching for both India and Thailand on August 1. While Thailand expresses confidence in a reduced tariff rate, the U.S. Trade Representative (USTR) has signaled that further discussions are necessary with India, casting doubt on a pre-deadline agreement.<\/p>\n<h2>India Trade Deal Faces Hurdles Ahead of August 1 Deadline<\/h2>\n<p>U.S. Trade Representative Jamieson Greer stated that &quot;more negotiations&quot; are needed with India to finalize a trade agreement, just days before the August 1 deadline for new tariffs. This comes despite Greer having previously suggested a deal with New Delhi might be imminent. The USTR highlighted India&#39;s historical policy of market protection, indicating that reducing these barriers would represent a significant policy reversal for India.<\/p>\n<p>Indian Commerce Minister Piyush Goyal, however, expressed optimism on July 25, stating he was &quot;always confident&quot; about reaching an agreement with the U.S. to avert threatened tariffs of 26%. Despite Goyal&#39;s confidence, sources familiar with the situation suggest that securing a deal by August 1 appears &quot;nearly impossible,&quot; with one describing the current state of discussions as a &quot;total mess.&quot; Key sticking points remain, including U.S. demands for greater access to India&#39;s agricultural and dairy sectors, while India seeks exemptions for pharmaceuticals and automobile components. No further talks are expected before mid-August, well past the initial August 1 deadline.<\/p>\n<h2>Thailand Anticipates Significant Tariff Reduction<\/h2>\n<p>In contrast to the stalled talks with India, Thailand&#39;s Finance Minister Pichai Chunhavajira is confident that the U.S. will reduce its threatened 36% tariff on Thai exports. Thailand has presented a &quot;very substantial improvement&quot; in its latest proposal, meeting all U.S. demands by scrapping tariffs and non-tariff barriers on more American goods.<\/p>\n<p>Finance Minister Chunhavajira expects the U.S. to lower the tariff rate to below 20%, a level similar to those imposed on other regional neighbors like Vietnam (20%) and Indonesia (19%). The U.S. had initially announced the 36% tariff level would commence on August 1. A failure to lower this rate could shave as much as one percentage point off Thailand&#39;s projected economic growth, given that the U.S. is its largest export market, accounting for approximately 18% of total shipments last year. Thailand&#39;s new trade proposals have been reviewed by the U.S., with a clear answer expected before August 1.<\/p>\n<h2>August 1 Deadline Remains Firm<\/h2>\n<p>U.S. Commerce Secretary Howard Lutnick has confirmed that the August 1 deadline for imposing tariffs on trading partners remains unchanged, ruling out any possibility of an extension. Lutnick emphasized the administration&#39;s commitment to its trade policy timeline, stating, &quot;So no extensions, no more grace periods. August 1, the tariffs are set. They&#39;ll go into place. Customs will start collecting the money, and off we go.&quot; While the deadline is firm, Lutnick indicated that President Donald <a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a> remains willing to continue discussions even after the levies kick in.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways U.S. Trade Representative Jamieson Greer indicates that more negotiations are required with India before the August 1 tariff 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