US-China in a Holding Pattern, While India Could See a Fast Fix

The US appears to be softening its stance on the aggressive tariffs placed on China and India this summer.  Relations with China have eased with both nations realizing that, at least at the trade level, they need each other.

The situation with India is trickier.  The Modi government faces strong domestic pressures to protect local industries, something which is counter to the US demand for reciprocal market access.  And then there is the issue of India’s Russian oil imports.  Still, recent talks indicate that the US could reduce tariffs on India – and that could happen soon.