Chinese President Xi Jinping on Wednesday pledged to strengthen the strategic relationships with neighbouring countries by 'appropriately' managing differences and enhancing supply chain ties as China's tariff war with the United States escalated.
Donald Trump's tariffs, meant as political punishment, have avoided the predicted chaos, lifting US growth, weakening rivals, and letting him claim victory in a resilient global economy, observes T T Ram Mohan.
'We have to be prepared for the larger disruption that is likely to take place.'
China's ruling Communist Party is holding its annual leadership conclave to discuss the new five-year plan, the impact of US President Donald Trump's tariff war, and the ongoing anti-corruption crackdown in the military.
Opposition MPs in India's Rajya Sabha raised concerns about US President Donald Trump's tariff threats, demanding the government clarify its response and engage in discussions with opposition parties. Leaders like P Chidambaram and Sagarika Ghose warned of potential economic repercussions, including depressed exports, lower FDI, and a significant tariff burden. The debate also touched on other issues such as the government's economic policies, demonetization, and the impact of GST on common citizens.
China defended the BRICS economic alliance, stating it is not a bloc for confrontation, after former US President Donald Trump threatened tariffs on countries aligning with its 'anti-American policies'.
The collective West has always opposed strong leaders and economic development in India, asserts Colonel Anil A Athale (retd).
Chinese Foreign Minister Wang Yi said that it is imperative for the two sides to view each other as partners and opportunities rather than rivals or threats, and invest their valuable resources in development and revitalisation.
Brave statements such as we will continue to be the fastest growing large country are of no consolation, because the direction of trade also determines the flow of investment, points out M Govinda Rao.
Prime Minister Narendra Modi spoke with Elon Musk, discussing the potential for collaboration in technology and innovation. Modi highlighted India's commitment to advancing partnerships with the US in these areas. The conversation follows a previous meeting between the two leaders in Washington D.C. earlier this year.
US President Donald Trump asserted that the trade deal with India remains intact despite a Supreme Court ruling against his tariffs, while also claiming he used tariffs to stop a war between India and Pakistan.
The ruling is expected to have wide-ranging consequences for global trade, businesses, consumers, inflation trends and household finances across the country.
India and the US have agreed to a trade deal that will see Washington reduce reciprocal tariffs on Indian goods from 25% to 18%, according to US President Donald Trump. The deal also includes commitments from India to reduce tariffs and non-tariff barriers against the US and to increase purchases of American products.
New Delhi, while opting not to retaliate yet to the American tariffs, has in recent weeks sought to reinforce its friendship with Moscow, and recalibrate its ties with Beijing rather than surrender to Washington's diktats.
The Congress has strongly criticised the US government's temporary waiver allowing India to purchase Russian oil, raising concerns about continued 'American blackmail' and its impact on India's energy policy.
The defence minister also announced that India has taken up the challenge of developing a powerful indigenous aero-engine, adding that preparations for this critical project are now almost complete and the work will soon be visible.
The verdict marks a notable shift from a series of recent wins for Trump at the Supreme Court.
Trump repeated the assertion that Sharif had claimed he saved "25 million lives" when he stopped the war between India and Pakistan.
The Trump trade shock is a chance to push long-overdue reforms, rather than tinker with tariffs to appease the US, suggests M Govinda Rao.
'What the US appears to be doing is to force India to be "the buyer of last resort", on whom their products can be dumped, 1.4 billion people have to eat something, so why not eat American corn?' 'What is exercising the Trump lot is the fact that most of the farms are in solidly Republican Midwestern states: Illinois, Indiana, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, Wisconsin,' points out Rajeev Srinivasan.
A US federal court on Wednesday (local time) ruled against US President Donald Trump's large-scale imposition of sweeping tariffs, deeming that this move exceeds his legal authority and that it would affect a wide range of imported goods, as reported by CNN.
Vance also hinted that the US may drop additional tariffs on countries if the US make a deal with Russia, and also apply more tariffs on the countries to bring this war to a close.
United States President Donald Trump on Monday floated the proposal of imposing 200% tariff on French wine and champagne after French President Emmanuel Macron's reported refusal to sit on the so-called Board of Peace, an initiative created by Trump to mediate global conflict, EuroNews reported.
Prime Minister Narendra Modi is likely to address the UN General Assembly in September. The session will address global conflicts and trade negotiations between the US and India.
While growth in India is largely domestic and hence the overall GDP effect may not be more than 0.15-0.2%, but overall trade will be impacted due to every country going back to the drawing board, points out Madan Sabnavis.
In a statement, the Chinese ministry of commerce said that it would file a lawsuit with the World Trade Organisation against the US for its "wrongful practice," the Global Times reported.
Unless something changes, Mr Trump is a huge threat right now, which is perhaps not being recognised fully, cautions Debashis Basu.
A 500 per cent tariff would effectively shut out India's goods and services exports to the US.
US President Donald Trump announced a new global levy on imported items, resulting in a lower tariff rate for India, following a Supreme Court verdict against his previous sweeping tariffs.
A new poll indicates that President Donald Trump's approval rating is suffering as economic anxieties and the rising cost of living weigh heavily on US voters, revealing deep political divides and widespread dissatisfaction with the government.
Donald Trump claims his use of tariffs prevented a nuclear war between India and Pakistan, a claim India has repeatedly refuted.
Trump's post on Truth Social comes a day after the US asked G7 countries to impose tariffs on countries purchasing oil from Russia.
US President Donald Trump has again credited himself for ending the conflict between India and Pakistan, asserting Norway controls the Nobel Peace Prize. He claims he deserves the honor for ending eight wars and saving millions of lives.
The relations between New Delhi and Washington are on a downturn after Trump doubled tariffs on Indian goods to a whopping 50 per cent, including 25 per cent additional duties for India's purchase of Russian crude oil.
From just 0.2 per cent before the Russia-Ukraine war to now accounting for 35-40 per cent of total crude imports, India's reliance on Russian oil has surged -- drawing fresh scrutiny with US President Donald Trump announcing a penalty on top of a 25 per cent tariff, or tax, on all goods going to the US.
Amid the ongoing global tariff war, Reserve Bank Governor Sanjay Malhotra on Wednesday said he is more worried about its impact on growth than inflation. Speaking to the media after presentation of the first bi-monthly monetary policy for the current financial year, Malhotra said, RBI has reduced the growth forecast for 2025-26 by 20 basis points to 6.5 per cent.
'The longer India hangs out to dry, the worse the New Delhi-Washington relationship gets.'
Trump made the announcement in response to what he described as China taking "an extraordinarily aggressive position on trade" by sending "an extremely hostile letter to the world."
The question is no longer whether the war will expand. It has. The next few days will tell us whether the war stabilises around Hormuz or whether the Strait itself becomes the trigger for a far larger rupture. What to watch for over the next 48 hours is simple: Any move by the US toward direct naval control of the Strait; any credible Iranian attempt to disrupt or mine shipping lanes and, critically, whether energy infrastructure in the Gulf continues to be targeted.If those lines are crossed in tandem, the war will no longer be containable within the region.
Fight on toward goals that keep receding, or exit with most objectives unmet. Trump is agitated, his poll numbers falling below the Plimsoll line, his base fractured between those who back the war and those who remember that he campaigned on ending them.
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