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The India EU trade deal is a significant outcome of global trade realignments, impacting geopolitical dynamics and economic strategies.
President Trump announced a reduction in the US reciprocal tariff on Indian goods from 25% to 18%, a move that clarifies confusion over existing duties which had effectively reached 50% due to a punitive 25% penalty for India's continued Russian oil purchases. This reduction, alongside the withdrawal of the punitive duty, now brings the total tariff to 18%, offering India a competitive edge over other export economies like China, Vietnam, and Bangladesh. The announcement follows a call between President Trump and Prime Minister Modi and a visit by India's External Affairs Minister to Washington, however, Trump's claims on Truth Social regarding India agreeing to halt Russian oil imports, purchase more US energy, and eliminate trade barriers were not corroborated by Indian officials or formalized through official US channels, raising questions about the extent of India's concessions. India has already been reducing its Russian oil imports, partly due to price competitiveness from other suppliers, and has resumed limited imports from Venezuela. This tariff adjustment appears to be part of the Trump administration's efforts to finalize trade deals before a Supreme Court ruling on reciprocal tariffs.
Trump said India agreed to stop buying Russian oil and buy much more from the United States and potentially Venezuela
Trump criticises Canadian Prime Minister Carney's assessment of a 'rupture' in the US-led global order and withdraws his invitation to the 'Board of Peace'.
The agreement, he told reporters at the World Economic Forum in Davos, was negotiated with NATO Secretary
Greenland Prime Minister Jens-Frederik Nielsen said the territory should be allowed to decide its own fate.
The midnight abduction of a sitting president and first lady by the military of the world’s most powerful nation sends an unmistakable signal: the rules-based world order is eroding, and brute power is back in charge.
Tariff hike to hit Denmark, Norway, Sweden, France, Germany, the United Kingdom, the Netherlands, and Finland
A White House official confirmed that Trump intends to keep the medal.
This rarely used law allows the government to deploy soldiers for law enforcement purposes.
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