India has committed to cut tariffs on Scotch whisky from 150 per cent to 75 per cent.

“We will have to rebalance; we can rebalance on Scotch,” the official said. “There are many products under consideration for rebalancing, including Scotch,” the official added. Under the Comprehensive Economic and Trade Agreement, signed between the two sides in July, India has committed to cut tariffs on Scotch whisky from 150 per cent to 75 per cent immediately, and to 40 per cent over the next 10 years. The UK has offered duty concessions on 99 per cent of tariff lines, including zero tariffs on steel, under its trade deal with India. However, in March, the UK government announced it would lower tariff-free steel import quotas by 60 per cent to safeguard the domestic industry from dumping. Starting in July, steel shipments above the quota limit will attract a 50 per cent duty in the UK. The measures on steel imports, seen as a non-tariff barrier by India, have delayed the implementation of the India-UK trade agreement, which was expected to come into force last month. Another hurdle to the implementation of the trade deal is the UK’s Carbon Border Adjustment Mechanism (CBAM), which will come into effect in January for products such as steel and aluminium. “While CBAM discussions are not as urgent at the moment, we want clarity on the matter before going ahead with the trade deal,” the official said. India plans to discuss the steel measures with the UK trade minister this week. The minister is scheduled to arrive in New Delhi on Tuesday, the commerce ministry official said. A delegation of officials from Washington, led by Assistant US Trade Representative for South and Central Asia Brendan Lynch, who is also the chief negotiator for the India-US Bilateral Trade Agreement, will also visit New Delhi this week to advance trade deal negotiations. Both sides will hold discussions on the White House’s investigations against India under Section 301 of the US Trade Act of 1974, the official said. “The 10 per cent levy will lapse anyway; everything has to be decided under Section 301,” the official said. After the Supreme Court of the United States scrapped reciprocal tariffs imposed by US President Donald Trump under the International Emergency Economic Powers Act (IEEPA), Washington imposed a temporary blanket tariff of 10 per cent on all trading partners until July 24. Simultaneously, the White House has initiated investigations into India and several other economies, alleging overcapacity and forced labour under Section 301 of the US Trade Act of 1974. Section 301, which allows Washington to probe and act against trade practices that may harm US commerce, is widely seen as a replacement for the IEEPA tariffs. “The idea is that India should get preferential access in the US under the trade agreement,” the official said. The three-day negotiations between India and the US this week mark the second in-person meeting between the two sides after they issued a joint statement in February agreeing on a framework for an interim agreement on reciprocal and mutually beneficial trade. The two sides had finalised most of the terms under the interim deal in February, Commerce Minister Piyush Goyal said on Monday. “Now we only have to see how we can incorporate the legal changes in the US following the Supreme Court verdict within the trade deal,” Goyal said.

China's wholesale prices rose at the fastest pace in nearly four years in May.

Trump Media & Technology Group (DJT) has drawn fresh attention after recent share price swings.

On June 9, 2026, the tech-heavy Nasdaq Composite plunged 2.17%, losing more than 560 points as AI and semiconductor stocks extended their sell-off.