New Delhi, Nov. 5 -- US President Donald Trump's political setback in the midterm elections could reduce the risk of sudden tariff escalations and give India more room in trade negotiations with Washington, although trade-related uncertainty is likely to continue, according to a report by Emkay Research.

The report said the election outcome is unlikely to bring a major change in the overall US tariff structure but could alter Trump's approach towards trade partners. With Democrats gaining control of both chambers of Congress, the administration may face greater constraints on introducing new trade measures.

"Fewer new escalation tools, more pressure to deliver consumer affordability, and deals before 2028" are among the factors that cou...