New Delhi, July 1 -- The US and China have reportedly finalized a trade pact that reduces tariffs and restarts critical rare-earth flows as part of a broader effort by US President Donald Trump and Chinese President Xi Jinping to reset bilateral trade ties. Meanwhile, Washington is negotiating up to ten additional deals ahead of the 9 July deadline for Trump's tariffs to kick in, placing Japan and India near the list's top.

China ties matter greatly to New Delhi, which runs two distinct relationships with them. It leans on Chinese intermediate goods, especially in industries such as electronics and pharma, yet blocks deeper inflows of Chinese capital and expertise to its market. By contrast, India relies on steady market access to US con...