TRADING
US trade team said to extend India stay as talks gather momentum
US and India are in trade talks. A US trade team is in India for negotiations. The team has extended its stay, signaling progress. Both countries aim for an early agreement by July. Reciprocal tariffs are facing legal challenges. Piyush Goyal met Howard Lutnick in May. Lutnick is optimistic about a trade deal soon. India hopes to avoid reciprocal tariffs.
India hails trade deal in talks with visiting British FM
Indian Foreign Minister Subrahmanyam Jaishankar said on Saturday a trade deal with Britain was "truly a milestone" that will boost bilateral ties as he welcomed his counterpart David Lammy to New Delhi.
China vice premier to meet US delegation for trade talks: Beijing
Chinese Vice Premier He Lifeng will meet a US delegation for talks next week in Britain, Beijing announced Saturday amid a fragile truce in the trade dispute between the two powers. US President Donald Trump had already announced on Friday that a new round of trade talks with China would kick off in London beginning Monday, after he spoke by phone with Chinese counterpart Xi Jinping in a bid to end a bitter battle over tariffs.
Canada tables 'One Canadian Economy' Bill to boost domestic trade and infrastructure
Prime Minister Mark Carney's government introduced Bill C-5, the "One Canadian Economy" bill, aiming to dismantle interprovincial trade barriers and expedite infrastructure project approvals. This initiative seeks to unify Canada's internal market, addressing trade tensions with the U.S. The bill targets federal obstacles to trade and labor mobility, potentially boosting the Canadian economy by $200 billion annually.
US, Chinese officials to meet in London on June 9 for new round of trade talks
The United States and China will restart trade talks in London on Monday, 9 June, amid renewed tensions over tariffs, technology restrictions, and rare earth exports. President Trump confirmed the meeting after a 90-minute phone call with Chinese President Xi Jinping. Senior US officials, including Scott Bessent and Jamieson Greer, will represent Washington. Despite progress in May, both sides accuse each other of backtracking. China says US policies have created “uncertainty,” while Washington criticises Beijing for “violating” the trade deal.
US team for trade talks in India, aims at expeditious conclusion of pact
India and the US are currently engaged in negotiations for a bilateral trade agreement (BTA), aiming for a swift and mutually advantageous initial phase. Discussions focus on enhancing market access by lowering tariffs and trade barriers, alongside strengthening supply chain integration.
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Dollar mired in US economic weakness and trade limbo
The dollar faced a weekly loss due to signs of U.S. economic fragility and stalled trade negotiations. Markets awaited the U.S. nonfarm payrolls report, crucial after weak economic data highlighted the impact of tariffs.
EU, India will beat expectations by wrapping up FTA talks early: Piyush Goyal
India and the European Union are working to finalize the Free Trade Agreement talks before the deadline. Piyush Goyal met Maros Sefcovic multiple times to speed up negotiations. India-Italy bilateral trade is currently suboptimal. India proposed an industrial enclave for Italian companies in India. The aim is to boost trade, investment, and tourism between the two nations.
Held 3 meetings in 35 days with EU trade commissioner to push FTA talks: Goyal
India and the European Union are actively pursuing a free trade agreement. Commerce Minister Piyush Goyal and European Commissioner Maros Sefcovic have met multiple times recently. India has already signed agreements with EFTA and the UK. Negotiations with the EU stalled in 2013 but resumed in June 2022.
Mark Carney in dire straits: After job crisis, Canada now faces record trade deficit due to Trump's auto tariffs
Canada's trade deficit reached a record high in April. This was due to a sharp decline in automobile exports to the United States. Donald Trump's tariffs on Canadian auto, steel, and aluminum sectors caused this drop. Canada's trade surplus with the US also decreased. However, trade with other countries like China and the UK increased.
TRADE, not Russia or Iran: Inside the high-stakes 90-minute Xi-Trump trade talks
Presidents Trump and Xi engaged in a phone call primarily focused on economic matters, setting aside geopolitical tensions. Trump highlighted progress on rare earth products and announced upcoming trade talks led by key officials, while Xi emphasized dialogue and urged the cancellation of negative measures against China, also extending an invitation to visit.
Trump, Xi hold talks amid stalled US-China trade negotiations & global market jitters
US President Trump and Xi Jinping have engaged in discussions as trade negotiations between the U.S. and China remain stalled. Trump acknowledged Xi's toughness in deal-making, highlighting the challenges in reaching an agreement. The gridlock stems from ongoing competition for economic dominance, hindering progress despite initial agreements to reduce tariff rates.
US trade deficit sharply narrows in April as Trump tariffs take hold
In April, the US trade deficit sharply decreased by 55.5 percent to $61.6 billion, according to government data. This decline from March's record of $138.3 billion coincided with President Trump's implementation of 10 percent tariffs on various trading partners. Imports significantly slumped by 16.3 percent to $351 billion as these tariffs took effect, impacting allies and competitors alike.
Centre keeps tabs on Trump tariff concessions to other nations
An American delegation will arrive in India to negotiate a bilateral trade deal amid legal uncertainties over Trump’s tariffs. The US aims to use baseline and suspended tariffs to secure concessions. India seeks to boost imports of shale gas, LNG, and crude oil from the US to diversify and reduce trade imbalance. The deal’s outcome will influence India’s response to tariff hikes.
Trade war is tougher threat than Covid for emerging market cenbanks, says IMF's Gita Gopinath
The IMF's Gita Gopinath suggests that emerging market central banks face a tougher challenge navigating the trade war's impact compared to the COVID-19 pandemic. She notes that the unpredictable nature of tariffs on developing economies and global markets complicates monetary policy decisions. This makes central bankers' tasks more difficult this time.
India seeks measures to tackle trade distortions
India has urged action against trade distortions from non-market economies and non-tariff barriers, emphasizing the need for a robust WTO dispute settlement mechanism. Piyush Goyal stressed strengthening the consensus-based approach and special treatment for developing nations. Discussions also covered agriculture, overfishing, and concerns about incorporating joint statement initiatives into the multilateral framework.
Court rulings cloud India-US trade talks
India is carefully assessing the impact of recent US court rulings on trade policies as it seeks a balanced and mutually beneficial trade agreement with the United States. The final terms of the deal will depend on how India's benefits compare to those offered to other nations.
India weighs legal uncertainties around Trump tariffs as trade pact talks start this week
India is approaching upcoming trade talks with the US cautiously due to legal uncertainties surrounding Trump's tariffs. These uncertainties, including a court challenge to the tariffs and potential further increases, could influence India's strategy for a proposed bilateral trade pact. Despite the complexities, India aims for a balanced agreement while considering retaliatory measures to protect its interests.
90 deals in 90 days: Donald Trump mocked for begging countries for a trade deal
With the July 8 deadline looming for Donald Trump's ambitious "90 deals in 90 days" trade program, his administration is under pressure. Letters were dispatched worldwide, urging nations to submit their "best offers" to America. While the White House insists negotiations are progressing, this move has sparked skepticism.
US tariffs are as dangerous as they are illegal
A recent court ruling against the White House's tariff impositions, enacted under the International Emergency Economic Powers Act, has intensified uncertainty in US trade policy. Despite this legal setback, the administration remains committed to reshaping the global trading system, potentially utilizing alternative trade policy tools.
Hyderabad man duped of Rs 70 lakh in fake Zerodha trading scam
Zerodha scam: A 43-year-old employee from Alwal, Hyderabad, lost ₹72.55 lakh in an online trading scam. Posing as Zerodha reps, fraudsters convinced him to use a fake app and deposit money for bogus stock investments. Police have registered a cybercrime case.
A new era of trade warfare has begun for the US and China
The U.S.-China trade conflict escalates into a supply chain battle, with both nations restricting critical technologies and minerals.
Trump's new salvo about to upend world trade; 50% tariff on steel & aluminum to kick in on June 4
President Trump is doubling tariffs on most imported steel and aluminum to 50%, effective Wednesday, except for Britain, which has a preliminary trade agreement. This increase impacts major trading partners like Canada and Mexico significantly.
Piyush Goyal pushes for bigger India-France trade game
Piyush Goyal asked businesses to identify areas of trade where the two sides can help each other in crossing the Rubicon of regulation. "Indian businesses are foxed navigating between the EU regulations and individual regulations in member countries," Goyal said while addressing businesses of India and France.
Block trades power D-Street's stock trading value to seven-month high
India's cash equity trading value has surged to a near seven-month peak, fueled by a wave of block trades. Daily turnover has reached almost $14 billion, driven by renewed global investor interest and strong quarterly results. Block trades and secondary offerings exceeded $5 billion in May, with the Nifty 50 Index nearing its record high.
Donald Trump-Xi Jinping call likely to take place this week amid fresh trade tensions, White House confirms
US President Donald Trump and Chinese President Xi Jinping are expected to speak this week amid renewed trade tensions. Trump has accused China of violating a temporary tariff agreement made in Geneva last month. While US officials claim Beijing is dragging its feet, China has firmly rejected the allegations, criticising the US for discriminatory trade practices. The situation has unsettled global markets. The expected high-level call is seen as a crucial moment in the strained economic relationship between the world’s two biggest economies.
India, US desire to give preferential market access to businesses; talks on for trade pact: Goyal
India and the US are actively pursuing a bilateral trade agreement to boost economic ties, aiming to more than double trade to USD 500 billion by 2030. Despite concerns over potential tariff hikes on steel and aluminum, both nations are committed to resolving trade issues bilaterally.
India-US trade pact: Effort on to facilitate preferential market access for both sides, says Piyush Goyal
India and the United States are actively pursuing a bilateral trade agreement to boost trade to $500 billion by 2030, according to Commerce Minister Piyush Goyal. Despite potential tariff hikes on steel and aluminum, both nations aim to resolve issues through dialogue.
India urges swift revival of WTO dispute system to protect fair trade rules: Piyush Goyal
Commerce and Industry Minister Piyush Goyal emphasised the urgency of restoring the WTO's dispute resolution mechanism to uphold its core principles. A mini-ministerial WTO meeting is scheduled for June 3 to discuss strengthening multilateral trade and reforms.
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