Despite repeated assurances from US President Donald Trump that a deal is “close”, unresolved issues, particularly concerning agriculture and automobiles, are preventing a final agreement.

As a trade storm brews across Asia, India is hoping to duck the full blow of America’s tariff blitz. But behind closed doors, negotiations are walking a tightrope and the stakes are massive.

Preferential access could mean lower duties for Indian goods compared to those from countries like Vietnam. For instance, if Vietnamese goods face a 20% US tariff, Indian exports may be taxed less under the emerging arrangement.