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.
Prime Minister Narendra Modi visited Ethiopia on a bilateral visit, engaging with Ethiopian leadership to strengthen partnerships in various sectors. He was warmly welcomed by Prime Minister Abiy Ahmed Ali and participated in cultural events, highlighting the strong ties between the two nations.
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.
'Don't look at Russia only as a place to earn quickly and then leave.' 'Try to build experience in serious companies, skills and certifications that will serve you anywhere in the world.'
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.
Several member states of the World Trade Organisation voiced frustration after India's demands for concessions on agricultural stockpiling led to the collapse of the first major global trade reform pact in two decades.
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.
"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.'"
It is shameful that Kashmir Times has been attacked in the way it has and that Anuradha Bhasin has not found more voices to speak in support of her and her paper, points out Aakar Patel.
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 a 25 per cent additional duties for India's purchase of Russian crude oil.
Navarro's remarks came after the public display of bonhomie by the three leaders on the sidelines of the Shanghai Cooperation Organisation (SCO) summit in Tianjin on Monday.
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).
Though the countries are lowering international trade restrictions, there is still fear that they may resort to policies that discriminate foreign investors due to weak economic recovery.
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's exports entered negative territory after a gap of about two years, declining sharply by 16.65 per cent to $29.78 billion in October, mainly due to global demand slowdown, even as trade deficit widened to $26.91 billion, according to data released by the commerce ministry on Tuesday. Key export sectors, including gems and jewellery, engineering, petroleum products, ready-made garments of all textiles, chemicals, pharma, marine products, and leather, recorded negative growth during October. Imports during the month under review rose by about 6 per cent to $56.69 billion on account of increase in the inbound shipments of crude oil and certain raw materials such as cotton, fertiliser and machinery.
The recipe for Indian higher education institutions to succeed in the global markets is excellence in academics, promoting contemporary socially relevant material, and enabling individuals (learners) to realise their full potential, suggests N Ravichandran.
'But I don't think the government is in a great hurry to sign the BTA.'
India should simultaneously prioritise domestic exploration and production of more oil and gas in the country, and ensure we retain diversified suppliers for imports, points out former foreign secretary Ranjan Mathai.
Pledging India's commitment to strengthening multilateral organisations like WTO, Deputy Prime Minister L K Advani on Tuesday said there was a need to address the problem of declining prices for commodities and remove unjustified trade barriers.
China severely limits opportunities for US companies in its telecommunications sector.
'When Prime Minister Modi met President Trump, they agreed to initiate a bilateral trade dialogue.' 'It makes sense to give these negotiations a chance.'
Lavrov, who addressed the UN General Assembly shortly before External Affairs Minister S Jaishankar's speech at the high-level General Debate, said India and Russia share a "particularly privileged strategic partnership".
WTO should focus more on what it 'should do' than what it 'can do'
Resuming trade talks after a gap of five years, India and Japan on Friday committed themselves to enhance the miniscule $3.5 billion bilateral trade and resolved to address impediments like the rigid labour laws.
The report was jointly prepared by the Paris-based Organisation for Economic Cooperation and Development and the World Trade Organisation.
India and the United Kingdom on Monday expressed keenness to boost bilateral trade and emphasised on the need to end the World Trade Organisation stalemate.
The US asked India on Monday to reduce barriers for increasing bilateral trade and expressed hope of forward movement in the stalled WTO talks.
Prime Minister Narendra Modi arrived in China for the Shanghai Cooperation Organisation (SCO) summit. His meeting with President Xi Jinping is significant given global economic concerns.
Notwithstanding all the talk and euphoria over the progress in terms of US-India trade and investment, US Trade Representative Susan Schwab said that India punches way below its weight when it comes to global trade.
Organised by TCM Sports, Cricket West Indies' long-term strategic partner, the the Golf Day brought together cricketing legends, global business leaders, and sporting icons on one stage, marking a celebration of West Indies cricket in the company of some of the formidable forces of the game such as Sir Vivian Richards, Brian Lara, and Sir Richie Richardson.
India's exports recorded a flat growth of 0.59 per cent to $31.99 billion in November, even as trade deficit widened to $23.89 billion during the month, according to the data released by the government on Thursday. Exports stood at $31.8 billion in November last year. Imports rose by 5.37 per cent to $55.88 billion in November as compared to $53.03 billion in the corresponding month a year ago, the data showed. During April-November 2022, exports rose by 11 per cent to $295.26 billion as against $265.77 billion in the same month last year.
WTO Director-General Pascal Lamy said his meetings with the US, China, India, and Brazil over the last fortnight revealed that the gaps in positions among members are too wide
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.
External Affairs Minister S Jaishankar criticizes Pakistan's attempts to protect a terror group at the UN Security Council, highlighting the need for urgent reforms within the global body.
