Prime Minister Narendra Modi and Chinese President Xi Jinping are set to meet in Tianjin on Sunday, their first in about 10 months, for wide-ranging talks aimed at improving relations.
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.
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.
External Affairs Minister S Jaishankar is scheduled to visit China for an SCO conclave, marking a significant step in easing tensions after the 2020 border standoff. Discussions on the boundary dispute are also anticipated.
India has said it will take all steps to protect its national interests and ensure comprehensive national security in all domains after Pakistan and Saudi Arabia signed a strategic defence pact.
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.
Senior Congress leader Shashi Tharoor says US tariffs are negatively impacting India, leading to job losses, and criticizes President Trump's diplomatic behavior.
He added that India sells to the US, its biggest "client", "massive" amounts of goods, "but we sell them very little - Until now a totally one sided relationship, and it has been for many decades."
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.
During a special briefing in Tianjin, Misri confirmed that the prime minister will first address the SCO plenary session before meeting President Putin.
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 latest decision of the Organisation of Petroleum Exporting Countries and its allies, commonly known as Opec+, to boost output is being seen as an attempt to regain market share lost to the US, Brazil, and other oil producers, who have been increasing production recently.
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.
A meeting with Chinese President Xi Jinping on the sidelines of the SCO summit is being planned.
Prime Minister Narendra Modi on Saturday 'deeply' appreciated United States President Donald Trump's 'positive assessment' of the India-US partnership after the American leader hailed the 'special' relationship between the two nations -- remarks seen as an attempt to check the downturn in the ties.
Chinese President Xi Jinping told Prime Minister Narendra Modi that India and China should approach their relations from a "strategic" and "long-term perspective" during their talks in Tianjin. Xi also emphasized upholding multilateralism and working towards a multipolar world.
'As one of many immigrants at Nvidia, I know the opportunities we've found in America have profoundly shaped our lives.'
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.
'Things may get much worse before they get better,' predicts Ajay Chhibber.
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.
The United States announced a 25 per cent tariff on India as the White House released an expansive list of duties that Washington, DC will impose on exports from countries around the world.
The Bloomberg report suggests that this backchannel communication from President Xi has laid the groundwork for a broader thaw in relations. This overture has since translated into a series of tangible diplomatic actions leading up to the upcoming 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.
Here is a list of Q & As to explain these issues and implications of the US move.
"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.'"
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).
'While the President has been critical of India, he has gone out of his way to compliment PM Modi. They have an incredible relationship.'
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.
'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.'
'Whatever is necessary for life and is not made in your country, we will import it from outside.'
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.
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.
'Trump is not shy when he is frustrated with countries'
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.
A step away from nuclear weapons being used in conflicts, warns 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.
