India, July 22 -- On Friday, the 10% tariff that has applied to most goods India ships to the US since February expires. It was always meant to. The measure was temporary by statute, a stop-gap improvised after the US Supreme Court demolished the legal basis of Donald Trump's original tariff regime.

The expiry is not India's alone. The same 10% applies to most of America's trading partners, and they are waiting on the same answer. In India's case, Washington has two investigations open against it that could produce a replacement tariff. An interim trade agreement that would settle the question is close but unsigned. And a bill moving through the US Senate would authorise a levy of up to 100% on Indian goods over an entirely separate matt...