Trump races toward India trade deal

The deal would decrease some tariffs on U.S. produce and bring back "preferential treatment" for a collection of Indian exports, per Reuters.

• Talks have largely focused on India cutting agricultural tariffs against almonds, pork, dairy and other goods.
• India wants its special status under the Generalized System of Preferences (GSP) restored for a few more years "to boost exports dampened by sluggish global demand," writes Reuters.

Context: The U.S. cancelled duty-free access under GSP for $5.7 billion worth of Indian exports this June, which prompted India to respond with tariffs against 28 U.S. products, according to Reuters.

• The U.S. also has problems with India's e-commerce rules that set up more barriers for American companies like Amazon and Walmart — as the Indian online market is expected to reach $200 billion by 2027, per Reuters.

What's next: Trump is planning to meet Modi in Houston on Sunday for a "Howdy Modi" event, intended to signal improved relations between the 2 countries. About 50,000 people are expected to attend — the largest live audience event for a foreign leader other than the Pope, reports the Washington Post.