The long-standing trade standoff between the US and India may soon ease. Both nations are reportedly in advanced talks to resolve issues related to the 26% reciprocal tariffs introduced after Trump’s recent proposals. A finalized deal may bring stability to global markets and could influence the price movements of risk assets, including cryptocurrencies. Investors are watching closely, especially after Bitcoin dropped following the latest US-EU tariff warning.

US and India Near Deal as Tariff Talks Advance

The United States and India are reportedly close to completing a trade agreement in response to the Trump tariffs. According to CNBC-TV18, discussions have progressed quickly, and a deal could be finalized within the next seven to ten days. The agreement aims to ease the 26% reciprocal tariffs that followed the earlier US tariff actions.

Sources say the US could offer partial exemptions for Indian exports. However, the US could charge India a 10% duty for some goods, but wouldn’t apply duties on others. These changes could boost their business and save money for both exporters and importers.

Trump Tariffs on EU Goods Add Pressure to Global Markets

Beginning June 1, President Trump has set a 50% tariff on imports from the European Union. He said the EU has been “very difficult to deal with,” and claimed negotiations with European officials have stalled. This development adds urgency to other trade talks, including those with India.

Apple was also mentioned in recent comments from Trump. He warned that iPhones sold in the US but manufactured abroad could face a 25% import tax. CNBC-TV18, however, reported that this warning may not impact Apple’s ongoing production within the United States.

US Treasury Confirms Progress With India

US Treasury Secretary Scott Bessent said the administration is making progress in talks with India and other Asian partners. He stated that multiple deals may be announced during the current 90-day pause period for reciprocal tariffs. This pause offers a window for dialogue and easing of trade restrictions.

Bessent contrasted this with the situation in Europe, where he said the EU is not negotiating in good faith. US officials have suggested that without movement from the EU, tariff increases will continue as planned.

Bitcoin Reacts to Tariff Headlines

The crypto market showed immediate sensitivity to trade news. After Trump’s EU tariff announcement, Bitcoin’s price dropped from $111,900 to $108,000, according to CoinMarketCap. The reaction proves that global trade uncertainties can make digital asset prices go up or down.

Bitcoin rose this month when China and the United States settled their differences. An agreement between the US and India could improve how investors view crypto acryptocurrencynd make crypto prices more stable. Nevertheless, analysts say the situation is not secure and the risks in the market remain high.