Emmanuel Macron said on Wednesday he would coordinate with German Chancellor Friedrich Merz and their other European counterparts
Japanese Prime Minister Shigeru Ishiba said he will make a decision on resigning over a historic defeat of his ruling party in a weekend election after closely studying the tariff deal just struck with the United States. Ishiba has been under growing pressure to step down as his ruling Liberal Democratic Party and its junior coalition partner, Komeito, lost their majority in the 248-member upper house, the smaller and less powerful of Japan's two-chamber parliament on Sunday, shaking his grip on power and Japan's political stability. The loss means Ishiba's ruling coalition, which also lost a majority in the more powerful lower house in October, now lacks a majority in both houses of parliament, making it even more difficult for his government to achieve any policy goals and worsening Japan's political instability. Ishiba had announced his intention Monday to stay on to tackle pressing challenges, including tariff talks with the US, without creating a political vacuum, sparking call
China, which provides more than 90 per cent of global supply of rare earth magnets, decided in early April to add several rare earth items to its export restriction list in retaliation for US tariffs
On Tuesday, Trump said the bilateral trade pact with Indonesia would result in tariff- and non-tariff-barrier-free access for US goods to the Indonesian market
US President Donald Trump has said that the proposed trade deal with India would be on the lines of what America has finalised with Indonesia on Tuesday. Under the US-Indonesia trade pact, the Southeast Asian nation will provide complete access to its market to US products, while Indonesian goods would attract a 19 per cent duty in America. In addition, Indonesia has committed to purchasing USD 15 billion in US energy, USD 4.5 billion in American Agricultural Products, and 50 Boeing jets. Later, while talking to reporters, Trump said: "India is basically working along that same line. We are going to have access into India. You have to understand, we had no access to any of these countries. Our people couldn't go in, and now we are getting access because of what we are doing with the tariffs The Indian team is in Washington for the fifth round of negotiations for the proposed bilateral trade agreement (BTA). Commenting on Trump's remarks, economic think tank GTRI said if India were
Indian exporters currently bear a 10 per cent baseline tariff, after the US administration temporarily paused the 26 per cent reciprocal tariff on India
Indian exporters are poised to strengthen their presence in the US market as rivals like China, Mexico, and Canada face higher tariffs ranging up to 50%, as against India's 10%, says NITI Aayog report
China's exports accelerated in June as a reprieve on US tariffs prompted a rush of orders by companies and consumers. Exports climbed 5.8% from a year earlier, up from a 4.8% rise in May. Imports also recovered, growing 1.1% in the first increase so far this year, according to customs data released Monday. Exports to the United States fell 16% but that was less than half the 34.5% drop seen in May. After US President Donald Trump imposed tariffs of up to 245% on imports from China and Beijing responded with its own steep import duties, the two sides agreed to hold back to allow time for talks. But preliminary discussions between the two sides have yet to produce significant progress. In the meantime, the Trump administration has hiked tariffs on imports from China by 35%, pending an Aug 12 deadline for reverting to the higher tariffs Washington and Beijing have delayed for now. The recovery in trade is expected to help boost economic growth in the April to June quarter. The Chines
On Wall Street at 10:54 a.m. the Dow Jones Industrial Average fell 53.36 points, or 0.12 per cent, to 44,318.15 while the S&P 500 fell 6.66 points, or 0.11 per cent, to 6,253.09
An Indian commerce ministry team has reached Washington for another round of talks on the proposed bilateral trade agreement (BTA), which will begin on Monday, an official said. Chief negotiator of India and special secretary in the department of commerce Rajesh Agrawal will join the team on Wednesday. The four-day talks will end on Thursday. India's deputy chief negotiator for the proposed BTA has reached Washington for the talks on the first phase of the BTA, the official said. The visit assumes significance as both sides have to iron out issues in sectors, like agriculture and automobiles. It is also important as the US has further postponed the imposition of additional tariffs on several countries, including India, until August 1. Last week, an official has said that "we are not differentiating between an interim or the first phase of the bilateral trade agreement. We are negotiating a complete deal. Whatever will be finished, we can package it as an interim deal and for the r
Brent crude futures were up 40 cents, or 0.58 per cent, at $69.04 a barrel as of 1027 GMT. US West Texas Intermediate crude ticked up 45 cents, or 0.68 per cent, to $67.02 a barrel
India has revised its proposal to impose retaliatory duties under the WTO (World Trade Organisation) norms against the US over American tariffs on steel and aluminium in view of the further hike in duty by the Trump administration. The US first imposed 25 per cent tariffs on imports of aluminium, steel and derivative articles on March 12. Again, on June 3, the taxes were hiked to 50 per cent. "Without prejudice to its earlier notification to the Council for Trade in Goods and the Committee on Safeguards dated May 12, India reserves its right to adjust the products and tariff rates. This request is made in response to the increase in the tariff rate by the US from 25 per cent ad valorem to 50 per cent," the WTO has said in a communication on Wednesday. This was circulated among WTO members at the request of India. It said that the proposed suspension of concessions or other obligations can take the form of an increase in tariffs on selected products originating in the US. "The ...
US copper futures widened their premium to the London benchmark overnight after Trump announced plans to impose a 50 per cent tariff on copper
A Treasury spokesperson said the $300 billion target corresponds to the December 31 end of calendar 2025, not the end of the government's fiscal year on September 30
Trump indicated that a trade deal with India is near, following his threat of imposing steep tariffs on 15 trade partners, including Asian countries, but exempting India from these measures
US President Donald Trump confirms 25% tariffs on Japan, South Korea from August 1, rejecting delays. Reciprocal duties target 50+ countries as trade talks stall; retaliation warnings issued
With the end of the 90-day pause on the imposition of the so-called reciprocal tariffs and the US sending letters, a few things are now clear
Responding to the blowback, the White House softened its stance on April 9, imposing a 90-day pause and a uniform 10 per cent tariff on most imports, excluding China
Trump threatened to impose a 25 per cent tariff on South Korean exports to the United States starting August 1 unless the longtime American ally lowered what he believes are unfair trade barriers