U.S. midterms may speed India trade talks but raise tariff risk

Democrats winning control of both U.S. Senate and House will likely accelerate India-U.S. trade deal talks but may also increase tariff pressure on India until an agreement is reached, experts say. President Donald Trump, facing a political setback, is expected to use executive powers to push India for a quick deal, seeking a domestic win and market access for U.S. goods. Indian negotiators may see the election result as leverage for a more favorable agreement. The U.S. retains tariff tools, including Section 301 and Section 232 measures, with existing 10% and 50% tariffs on India. A bipartisan law also allows up to 100% tariffs on nations importing Russian oil, though currently held in abeyance.