UNITED STATES TRADE REPRESENTATIVE
Continued Taliban tolerance of terrorist groups sets conditions for terrorism to project into neighbouring states: UN report
The 15th report of the Analytical Support and Sanctions Monitoring Team concerning the Taliban and other associated individuals and entities said that the TTP remained the largest terrorist group in Afghanistan, with an estimated strength of 6,000-6,500 fighters.
United Spirits, Axis Bank among 18 stocks to trade ex-dividend from Friday
Here's a concise synopsis: Dividends are distributed to shareholders whose names are listed in the company's records on the record date. With the T+1 framework, the record date and ex-date are usually identical, except when a market holiday falls after the ex-date.
Ready to work with India to properly handle situation in border areas: Chinese FM Wang to Doval
Chinese Foreign Minister Wang Yi expressed his willingness to collaborate with India's National Security Advisor Ajit Doval to address border issues. In a congratulatory message to Doval, Wang emphasized the importance of China-India relations beyond their bilateral boundaries. This message followed a meeting between Wang and Indian External Affairs Minister S Jaishankar at the SCO summit. Despite ongoing border tensions since 2020, both nations aim to maintain peace through the Special Representatives mechanism, which has held multiple meetings to resolve disputes.
Jaishankar to represent India at SCO summit in Astana
India's External Affairs Minister, S Jaishankar, will represent the country at the annual summit of the Shanghai Cooperation Organisation (SCO) in Astana. The summit, scheduled for July 3 and 4, is expected to focus on regional security, connectivity, and trade. The SCO, comprising India, China, Russia, Pakistan, Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan, is an influential economic and security bloc.
China premier calls to 'oppose decoupling' at economic forum
Friction between the West and the world's second-largest economy has intensified in recent years, particularly as Beijing and Washington compete for supremacy in advanced technology and new "green" industries.
India's trade deficit in May widens to $23.78 billion; exports rise 9%
India's trade deficit widened to $23.78 billion, falling short of economists' $19.5 billion projection, per a Reuters poll. May saw a 9% increase in merchandise exports to $38.13 billion, driven by engineering goods, commercial vehicles, and smartphones. Merchandise imports surged by 7.7% year-on-year to $61.91 billion. Analysts expect exports to rebound, aided by global trade recovery, manufacturing incentives, and domestic inflation easing.
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Modi good not just for India but for entire South Asia: Pakistani-American businessman
Pakistani American businessman Sajid Tarar praises Prime Minister Narendra Modi for ensuring stability in India and South Asia, emphasizing Modi's leadership as crucial for the region's future. Tarar hopes for improved India-Pakistan relations under Modi's leadership, highlighting the need for strong leadership in both countries to address political and economic challenges.
China says it never uses EV subsidies barred by WTO
China's Foreign Ministry denies using subsidies banned by the World Trade Organization for electric vehicles (EVs), addressing concerns over its EV industry flooding the U.S. market. Spokesperson Mao Ning stated that China's success in the EV market stems from market laws and comparative advantages, not government subsidies.
India's Permanent Rep to UN Ruchira Kamboj signs off after almost four decades of service
Ruchira Kamboj, India's Permanent Representative to the United Nations, retired after a 35-year career. She was the first woman diplomat to hold this position and had a distinguished tenure in the Indian Foreign Service.
The US can't be protectionist and world leader
US President Joe Biden's economic nationalism challenges the Pax Americana legacy. The Smoot-Hawley Tariff Act of 1930 symbolises a protectionist era leading to global conflict.
How China pulled so far ahead on industrial policy
The problem for the West, though, is that China's industrial dominance is underpinned by decades of experience using the power of a one-party state to pull all the levers of government and banking, while encouraging frenetic competition among private companies.
How China pulled so far ahead on industrial policy
The problem for the West, though, is that China's industrial dominance is underpinned by decades of experience using the power of a one-party state to pull all the levers of government and banking, while encouraging frenetic competition among private companies.
Memorial Day 2024:Will US stock markets remain open? Know the trading schedule
Memorial Day holds great significance in the United States, as it is a holiday dedicated to honoring and remembering the men and women who have made the ultimate sacrifice while serving in the U.S. military.
China has threatened trade with some countries after feuds. They're calling 'the firm' for help
An eight-person team at the State Department, informally dubbed "the firm," leads U.S. efforts to help countries targeted by China's economic pressure. Originating from a 2021 conflict with China over Taiwan involving Lithuania, the group, led by senior adviser Melanie Hart, now aids over a dozen nations. They assess vulnerabilities and create responses for countries fearing loss of trade with China. The team's initiatives are part of a broader U.S. strategy to counteract China's global influence.
The business ties that bind the U.S. and China are strong but fraying
Many big U.S. companies depend on China for a substantial part of their income and rely on Chinese suppliers and factories for their products.
China slammed in G-7 show of unity threatening trade escalation
Group of Seven finance chiefs criticized China's global trade practices, escalating tensions. The G-7 expressed concerns about China's non-market policies affecting economies and hinted at retaliatory measures.
G7 criticise China, warn of escalation in trade disputes
The club of rich-world ministers and central bankers concluded its gathering in the Italian lakeside town of Stresa on Saturday with a communique that cited the world's second-biggest economy by name and accused the country of hurting the economies of its trade partners.
Infrastructural projects helping improve India's relationship with Africa: Indian corporate executive
Indian infrastructure projects in Africa have significantly enhanced ties between the two regions, according to S Kuppuswamy, a senior executive from the Shapoorji Pallonji group. He emphasized the importance of collaboration between Indian and US development finance institutions to ensure the swift execution of such projects and to counter China's influence in the region. Kuppuswamy highlighted the pride African nations take in Indian-built infrastructure, citing examples like Ghana's presidential palace.
Philippines opens coast guard post after China build-up
The Philippines opens a coast guard post in the far north to enhance security amid China's military build-up near Taiwan. The outpost aims to gather maritime data and intelligence to address threats like illicit trade and foreign intrusions.
South Korea imposes sanctions on North Koreans, two Russian vessels
On Friday, South Korea imposed sanctions on seven North Korean individuals and two Russian vessels for violating U.N. Security Council resolutions through weapons trade and related activities between Pyongyang and Moscow. The vessels transported military supplies, while the sanctioned individuals facilitated arms negotiations and supported North Korea's nuclear and missile programs. Accusations of North Korea supplying weapons to Russia for the Ukraine war have been denied by both countries. Russia condemned the sanctions and vowed to respond.
Ebrahim Raisi, a hardline leader who brought Iran closer to China
Before news of Iranian President Ibrahim Raisi’s death emerged, China expressed "deep concern" on Monday after his helicopter went missing. Given China's significant trade ties with Iran and its role as a major buyer of Iranian oil, its concern appears justified. China stated it would closely monitor the situation and offer support to rescue operations. Raisi's efforts to strengthen Iran-China relations included a visit to Beijing last year, marking the first such visit by an Iranian president in two decades.
China to take 'resolute measures" in response to US's increasing tariffs on imports
US President Joe Biden has directed his Trade Representative to increase tariffs on USD 18 billion of imports from China, including semiconductors, solar cells, batteries, and critical minerals, to protect American workers and businesses. China's Ministry of Commerce responded by stating that the move will seriously affect bilateral cooperation. The White House announced the decision in response to China's "unfair trade practices" and to counteract the harms resulting from artificially low-priced exports.
Chabahar Port deal with Iran sparks sanctions warning for India from its 'good friend' US
India and Iran signed a 10-year agreement to manage the Chabahar Port, enhancing regional connectivity and providing an alternative to China's Belt and Road Initiative. The US warned of potential sanctions for dealing with Tehran, but stated it would let India address its foreign policy objectives. The deal strengthens bilateral relations and facilitates trade with Afghanistan and Central Asia, with plans to integrate the port into the International North South Transport Corridor. India's investment in Chabahar's infrastructure aims to improve trade routes and access to Central Asian markets.
China says it firmly opposes US export control tools
Some of the entities were added to the list for making drones to be used by the Chinese military and others for shipping controlled items to Russia. China and Russia have the right to carry out normal economic and trade cooperation, and such cooperation should not be disturbed, spokesperson Lin Jian told a regular press conference.
Joe Biden set to impose tariffs on China electric vehicles, sources say
U.S. President Joe Biden is set to announce new China tariffs as soon as next week targeting strategic sectors including electric vehicles, according to two people familiar with the matter. The full announcement, which could take place as soon as Tuesday, is expected to largely maintain existing levies, according to one of the people. An announcement could also be pushed back, the person said.
US overtakes China as Germany's top trading partner
The United States surpassed China as Germany's top trading partner in Q1, with trade totaling 63 billion euros, compared to China's just under 60 billion euros. This shift is attributed to the robust U.S. economy, declining trade with China, and structural changes in production. Germany aims to reduce dependence on China but faces uncertainties with potential policy changes.
Taiwan says it will discuss with US how to use new funding
The defence ministry expressed thanks to the U.S. House of Representatives for passing the package on Saturday, saying it demonstrated the "rock solid" U.S. support for Taiwan.
India's tariff removal on several US products benefiting farmers: Katherine Tai
US Trade Representative Katherine Tai highlighted the benefits of India's decision to remove retaliatory tariffs on several US products, including chickpeas, lentils, almonds, walnuts, and apples. This move has improved market access for American farmers, particularly in Michigan, Oregon, and Washington. The removal of tariffs was part of the resolution of the final outstanding WTO dispute between the two countries, which also led to reduced tariffs on products like turkey, duck, blueberries, and cranberries, benefiting farmers in North Carolina, Pennsylvania, Virginia, and Wisconsin.
US continues monitoring India's restrictions on ICT imports, raises concerns on digital trade barriers
The United States has expressed ongoing concerns about India's restrictions on the import of certain information and communications technology (ICT) products, including laptops, tablets, and servers. In its National Trade Estimate Report on Foreign Trade Barriers for 2024, the US Trade Representative highlighted issues such as politically motivated content takedown requests and complex customs procedures in India.
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