Trade ties appeared to have stabilised in June after U.S. and Chinese negotiators agreed to revive a fragile truce reached during talks in Geneva in May. The agreement had been strained before the talks by a series of export controls that disrupted supply chains for key industries on both sides of the Pacific.

As per a NITI Aayog report, India is poised to benefit from the new tariff environment, particularly due to increased levies imposed by the US on key trading partners such as China, Mexico, and Canada