Gearing up for Trump 2.0 era, Chinese President Xi Jinping on Tuesday cautioned there will be no winner in a tariff or tech wars between China and the United States and vowed that Beijing would firmly safeguard its interests.
'Trump is not shy when he is frustrated with countries'
India and the US have mutually resolved all six trade disputes pending at the World Trade Organisation (WTO), in line with the commitment made by the two countries during the US visit of Prime Minister Narendra Modi last month, an official said. The official said that both countries have informed the WTO's dispute settlement body (DSB) about the resolution of all the pending disputes. The WTO has already issued a communication with regard to one of the disputes related to the imposition of additional customs duties by India on 28 US products.
'Whatever is necessary for life and is not made in your country, we will import it from outside.'
India is committed to taking forward its ties with China based on mutual trust, respect and sensitivity, Prime Minister Narendra Modi told Chinese President Xi Jinping as the two leaders held wide-ranging talks to reset the bilateral relations.
Japan is expected to increase its investment target in India from the earlier 5 trillion yen ($34 billion) to almost 10 trillion yen.
The escalation of conflict in the West Asian region is expected to push already high logistics costs besides hurting trade in sectors such as oil, electronics and agriculture, according to exporters. They said that insurance costs for exports to the countries directly involved in the war could also go up, which will impact Indian exporters' working capital. Think tank Global Trade Research Initiative (GTRI) stated that the conflict is already hurting India's trade with countries like Israel, Jordan, and Lebanon.
The current instability in the world is a result of long term systemic and socio-politico problems, points out Colonel Anil A Athale (retd).
Modi was received at the venue by Chinese President Xi Jinping and First Lady Peng Liyuan. On arrival, the Prime Minister exchanged greetings with the Chinese President before joining other leaders for the customary family photo session.
Pakistan's Army Chief Field Marshal Asim Munir met with Chinese President Xi Jinping, along with Pakistani Prime Minister Shehbaz Sharif, to discuss bilateral and regional cooperation. The meeting occurred during Sharif's visit to China for the Shanghai Cooperation Organisation (SCO) summit.
US President Donald Trump has proposed a deal to China that would see the sale of TikTok's US operations to an American buyer in exchange for a reduction in tariffs on Chinese exports to the US. The proposal comes amid a trade war between the two countries and follows China's retaliation of Trump's tariffs on Chinese goods. Trump has also said that tariffs are a powerful economic tool and that he is determined to ensure fair trade between the US and China.
China on Tuesday retaliated US President Donald Trump's imposition of 2nd round of ten per cent tariffs on its export by slapping an additional 15 per cent tariffs on American goods and initiated legal action against Washington in WTO while leaving the door open for talks to address each other's concerns.
Here is a list of Q & As to explain these issues and implications of the US move.
United States President Donald Trump on Sunday criticised the trade deficits that the US has with Canada, Mexico, China, and argued that America should no longer 'subsidise' other countries, and urged businesses to manufacture domestically to avoid tariffs.
"Their Prime Minister just visited -- he's a great friend -- but I told him, 'You're not treating us right. You charge us 52%, while for years, decades even, we've c'harged you next to nothing. It wasn't until seven years ago, when I took office, that we started pushing back, beginning with China.'"
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.
India has exempted Bangladeshi exports to Nepal and Bhutan as such trade facilitation is mandatory for landlocked countries under the framework of provisions of the World Trade Organisation (WTO).
Chinese Foreign Minister Wang Yi's visit to India focuses on border talks with NSA Ajit Doval, amidst efforts to rebuild relations after the Galwan Valley clashes and rising India-US tensions.
'India is too important to the United States for there to be any kind of a permanent bump in the relationship.'
'When Prime Minister Modi met President Trump, they agreed to initiate a bilateral trade dialogue.' 'It makes sense to give these negotiations a chance.'
'But I don't think the government is in a great hurry to sign the BTA.'
China's Foreign Minister Wang Yi expressed China's anticipation for Prime Minister Narendra Modi's visit to the Shanghai Cooperation Organisation (SCO) summit, emphasizing the importance of strong India-China relations and mutual cooperation.
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.
Nine years after New Delhi started implementing its Plan B - bilateral trade agreements - to beat the impasse at the World Trade Organisation's Doha Round of liberalisation talks, India seems to be finally rolling.
India-US relations, like Rome, were not built in a day, nor can they be demolished in a day.
All said and done, when the new global order emerges, India can only remain with the democracies, asserts Ambassador T P Sreenivasan.
'We should watch -- in the near term -- for signs that the two have totally fallen out at a personal, political level.' 'Trump and Modi know how to be dealmakers, but they also know how to hold a grudge.'
World Bank on Wednesday asked developed countries to work out a "trade deal" including removal of trade barriers to accelerate growth in the developing nations.
The story of the Bombay Stock Exchange and the people who shaped its growth: From wars and bomb blasts to speculators, reformers and wealth creators.
'If Washington has to balance Chinese power, she will have to turn to the third biggest power in the world which is India.' 'The United States and India will have to work together in order to keep Chinese ambitions in check.'
American President Donald Trump has announced imposing reciprocal tariffs on its major trading partners including China that levy higher import duties on goods shipped from the United States. He has already announced a 25 per cent duty on steel and aluminium imports, which will come into effect from March 12.
Images from the US Open matches played at Flushing Meadows on Saturday
A step away from nuclear weapons being used in conflicts, warns Colonel Anil A Athale (retd).
External Affairs Minister S Jaishankar says Operation Sindoor conveyed India's resolve to act against terrorism, following UN Security Council's call to bring Pahalgam attackers to justice.
If pharmaceutical exports from India to the US come under a 25 per cent tariff bracket, the impact on earnings before interest, tax, depreciation and amortisation (Ebitda) could be around 5 per cent, felt analysts. This is after assuming that about 75 per cent of the tariff would be passed on.
The US wants India to recognise internationally accredited labs, harmonise labelling requirements and the validity period of test reports and certification with global practices, and eliminate retesting requirements.
On his 200th birth anniversary, Utkarsh Mishra traces the life, thought, and legacy of Dadabhai Naoroji, the Grand Old Man of India.
Jaishankar said the UN Security Council condemned the attack and underlined the need to hold perpetrators, organisers, financiers and sponsors of the reprehensible act and bring them to justice.
India and China should build on 'good progress' in normalising the bilateral ties to address border-related issues including de-escalation, and it is essential to avoid 'restrictive trade measures and roadblocks', External Affairs Minister S Jaishankar said on Monday during talks with his Chinese counterpart Wang Yi.
Sections in the US State Department and Pentagon have always felt more comfortable dealing with all powerful Pakistani generals instead of elected civilians, points out Rana Banerji, who headed the Pakistan desk at RA&W.
India's exports declined by 2.83 per cent to $33.90 billion in November this year compared to $34.89 billion a year ago, government data released on Friday showed. Imports also declined to $54.48 billion in the month under consideration, as against $56.95 billion recorded in November 2022.
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