China dominates the world's busiest container ports in 2025, with Shanghai leading at 55.1 million TEUs, according to data compiled by Visual Capitalist based on Lloyd's List 2026 rankings.

China dominates the world's busiest container ports in 2025, with Shanghai leading at 55.1 million TEUs, according to data compiled by Visual Capitalist based on Lloyd's List 2026 rankings.

Top 10 busiest container ports in the world in 2025: China dominates ranking

According to the data from the World Trade Organisation, mapped by Visual Capitalist, from China's machinery and electronics to Gulf oil, Australia's minerals and Bangladesh's textiles, here is what drives the world's export economies. 

According to the data from the World Trade Organisation, mapped by Visual Capitalist, from China's machinery and electronics to Gulf oil, Australia's minerals and Bangladesh's textiles, here is what drives the world's export economies.&nbsp;

8 things you didn't know about what countries export most

Can Central Asia become India's next major trade partner? As New Delhi looks to diversify supply chains, reduce trade vulnerabilities and expand its economic footprint across Eurasia, Central Asia is emerging as a region of growing strategic importance. Improved connectivity, energy cooperation, transport corridors and stronger regional engagement could unlock new opportunities for Indian businesses. As leaders gather for the SCO Summit, the focus is increasingly shifting to how India can deepen economic ties with Central Asian nations and strengthen its position in regional trade networks.

Can Central Asia help India diversify trade? 

US President Donald Trump has dismissed concerns over the living conditions and mental health of sailors aboard the USS Abraham Lincoln, which has spent more than 260 days at sea amid ongoing US military operations in West Asia. The aircraft carrier's unusually long deployment has raised concerns among sailors' relatives and lawmakers, with reports citing shortages of basic supplies, sanitation issues and mental health challenges. The US Navy says a sailor who fell overboard on August 3 was safely recovered and that no service member aboard the carrier has died. Officials have also disputed reports portraying the crew as victims of deteriorating conditions.

The USS Abraham Lincoln carries roughly 5,000 sailors and Marines. Military experts say extended deployments, combat operations and prolonged periods without port calls can place significant physical and psychological pressure on service members.

Donald Trump Dismisses Concerns Over USS Lincoln Crew Conditions 

Russia has issued a stark warning to Western countries over efforts to disrupt its so-called shadow fleet, raising fears that the confrontation could spill into international shipping lanes.

Russian President Vladimir Putin has threatened retaliation if Western nations move to seize Russian vessels or assets linked to the shadow fleet. Moscow says such actions would amount to piracy and has warned that any response would not necessarily take place in the same waters.

The escalating tensions are creating a major challenge for Britain’s Royal Navy, which is already monitoring Russian warships and shadow fleet vessels around UK waters. Reports cited in the segment suggest concerns over whether the Royal Navy has sufficient ships, weapons and resources to protect commercial shipping across vast maritime routes.

As Russia and the West clash over sanctioned oil shipments, the world’s major shipping lanes could become the next arena of confrontation.

Russia Threatens Western Ships | Britain’s Royal Navy Faces Major Firepower Crisis

Iran and Oman are reportedly close to finalizing a new framework governing commercial shipping through the Strait of Hormuz, one of the world's most strategically important maritime chokepoints.

According to reports, the proposed arrangement would route inbound vessels through Iranian territorial waters and outbound traffic through Omani waters, with no tolls during an initial 60-day period. The agreement could significantly increase Iran's role in managing shipping through the strait and reshape regional geopolitics.

The United States has not officially responded to the reports, while Vice President JD Vance has warned that negotiations with Iran remain complex. Analysts say any agreement may only provide a temporary solution as political divisions continue within both Iran and the United States.

Iran-Oman Near Strait of Hormuz Shipping Deal | Will the U.S. Accept the New Framework?

China has announced a fresh round of sanctions targeting multiple U.S.-linked entities while tightening export controls on its globally dominant drone industry, adding another chapter to the ongoing U.S.-China trade tensions.

Beijing's stricter oversight of drone exports could affect international buyers and disrupt global supply chains across sectors including logistics, agriculture, surveillance, and defense. The move is expected to have implications for pricing, availability, and innovation in commercial drone markets.

Meanwhile, public sentiment in China has intensified following U.S. actions against certain Chinese food brands over alleged forced labor concerns. According to reports, many Chinese consumers have criticized the U.S. measures, highlighting how geopolitical disputes are increasingly influencing consumer behavior.

US-China Trade War Escalates | Beijing Targets American Entities and Drone Exports

President Donald Trump's economic strategy is facing fresh scrutiny as his administration continues using tariffs and sanctions to pressure trading partners and geopolitical rivals.

New tariffs of up to 12.5% on imports from 60 countries are now facing legal challenges, with multiple US states arguing that the administration exceeded its authority. Economists also suggest that American businesses and consumers—not foreign exporters—are paying much of the cost through higher prices.

At the same time, US sanctions on Russia have pushed Moscow to expand alternative payment systems, shadow shipping networks, and trade partnerships with countries such as China and India.

Trump's Tariffs & Sanctions Under Fire | Are US Economic Pressure Tactics Failing?

The Houthi rebels are expanding their role in the West Asia conflict by targeting Saudi oil tankers and tightening their maritime blockade in the Red Sea. Yemeni authorities accuse the Iran-backed group of copying Tehran's strategy in the Strait of Hormuz, raising fears of a wider regional conflict.

With attacks on energy infrastructure, threats to global shipping, and reports that the Houthis may seek to charge vessels for safe passage, concerns are growing over the security of one of the world's busiest maritime trade routes.

Houthis Copy Iran’s Strategy? Red Sea Blockade Threatens Global Shipping

The Middle East conflict is entering a dangerous new phase as Yemen's Houthi rebels intensify attacks on Saudi-linked shipping in the Red Sea. After announcing a naval blockade targeting Saudi Arabia, the Houthis claim they have struck Saudi oil tankers, raising fears of a wider regional war and renewed disruption to global energy supplies.
The escalation comes as shipping through the Strait of Hormuz remains heavily disrupted, placing immense pressure on another vital maritime chokepoint—the Bab el-Mandeb Strait. Saudi Arabia, which has relied on Red Sea ports to bypass Hormuz, now faces fresh threats to its oil exports.


Houthis Target Saudi Oil Tankers | Red Sea Blockade Escalates | US Faces New Middle East Crisis

A major escalation is unfolding in the Middle East as Saudi Arabia and Yemen's Iran-backed Houthi rebels exchange fire, ending years of relative calm in the region. The latest developments come amid intensifying US-Iran tensions, with the Houthis claiming attacks on Saudi Aramco facilities in Jazan and Yanbu, triggering emergency alerts and raising concerns over regional security. In this detailed report, we analyse the growing Saudi-Houthi conflict, the maritime blockade announced by the Houthis, and Saudi Arabia's retaliatory air strikes on Houthi targets. The escalation has put key shipping routes, including the Bab el-Mandeb Strait, under renewed pressure.
The Red Sea corridor remains a critical global trade route, connecting the Red Sea to the Gulf of Aden and the Suez Canal. Any disruption in this strategic passage could impact international shipping, energy supplies, and global markets.

Canada-US Trade War Escalates As Gordie Howe Bridge Opens Without US Officials

The United States has imposed a new 10% tariff on imports from India under Section 301 of the Trade Act of 1974, citing concerns over the enforcement of laws against goods produced using forced labor. The tariff is part of a broader trade action targeting multiple economies. While India was initially expected to face a 12.5% tariff, the rate was reduced after New Delhi amended its foreign trade policy to prohibit imports made using forced labor. The US Department of Labor highlighted concerns across several Indian sectors, including textiles, garments, tea, shrimp processing, leather goods, carpets, fireworks, rice mills, and stone quarries. Industry experts warn that the permanent nature of the Section 301 tariffs could affect Indian exports, investments, and ongoing India-US trade negotiations.

US Imposes 10% Tariff on India | Trump Targets Forced Labor, Trade Talks Face New Challenge

India has reportedly halted sugar exports until 2026, a move that is expected to significantly impact global sugar supply and prices. The decision comes amid efforts to ensure domestic availability and stabilize local markets.


Breaking: India Stops Sugar Exports Till 2026 | Sugar Export Ban Hits Global Trade 

From the Strait of Hormuz to the Malacca Strait, a handful of narrow sea passages quietly control global trade, energy supplies and military movement. Nearly every major economy depends on these chokepoints for oil, gas and cargo shipments. Any disruption — whether conflict, piracy or accidents — can shake world markets overnight. This report explores eight of the world’s most strategic straits and why they remain crucial to global commerce and geopolitics.


8 Strategic Straits That Control Global Trade, Oil And World Shipping

Ireland welcomes India’s rapid advancements in AI as the Irish minister discusses the landmark India-EU trade deal with WION. The conversation highlights India’s technological leadership, growing global economic influence, and the potential for deeper cooperation between Europe and India in AI, innovation, and trade.

Irish Minister Speaks To WION On AI & India-EU Mega Trade Deal 

The International Monetary Fund (IMF) has issued a cautionary note, signalling that the brief rebound in global trade—fueled by firms rushing to beat US tariffs—is now losing steam. But the&nbsp; global economy remains clouded by uncertainty, with trade wars and economic nationalism reshaping long-held dynamics.&nbsp;At a press briefing Thursday, IMF spokesperson Julie Kozack said recent US trade negotiations—including deals with China and the UK—and a partial tariff rollback are “modestly positive” signs, as per Bloomberg.&nbsp;However, she stressed that escalating steel and aluminium tariffs, coupled with volatile import flows, point to an unpredictable road ahead.&nbsp;“We are in an environment of very high uncertainty,” Kozack said. “And uncertainty in general tends to dampen economic activity,” as quoted by Bloomberg.&nbsp;<h2>Global slowdown begins to bite</h2>Data from the US Commerce Department earlier this month showed a record 20% plunge in April imports, as companies halted the pre-emptive stockpiling of goods. As per Bloomberg, the IMF noted that this dramatic reversal reflects the exhaustion of the so-called “front-loading effect” that temporarily inflated trade volumes earlier in 2025.&nbsp;The sharp fall in imports also led to a 46 per cent narrowing of the US goods trade deficit, a development that has momentarily offset recessionary concerns in Q1. But analysts warn the effect is unlikely to sustain growth.&nbsp;“We expect second-quarter data to reflect not just weaker trade volumes but also slower consumer spending and inventory rundown,” said Rajiv Malhotra, a global economist at HSBC, as quoted by Bloomberg.<h2>IMF to revise growth forecast in July</h2>The IMF plans to release its updated World Economic Outlook&nbsp;next month. In April, the Fund had already cut its global GDP growth estimate to 2.8 per cent, down from 3.3 per cent, citing trade frictions and financial volatility, as per Bloomberg.&nbsp;Despite a temporary tariff pause by the US on April 9—part of a broader de-escalation in its dispute with China and allies—the Fund believes the global trade system is now under structural pressure.&nbsp;The World Bank&nbsp;has echoed this view, warning that trade tensions could impact two-thirds of developing economies&nbsp;and deepen inequality, especially in export-dependent regions.<h2>Trade war fatigue sets in</h2>President Donald Trump’s aggressive tariff policy has led to steep duties on steel, aluminium, and a variety of Chinese imports. These moves were partially rolled back after recent talks in London and Geneva, but the damage may be done.&nbsp;The OECD&nbsp;now projects that global trade growth will drop to 2.8% in 2025&nbsp;and further slow to 2.2% by 2026, far below pre-pandemic averages. Emerging markets, particularly in Asia and Africa, are expected to bear the brunt.&nbsp;“Policymakers must focus on reducing trade policy uncertainty and rebuilding trust,” Kozack said, adding that domestic reforms and diversified supply chains are essential to economic resilience, as quoted by Bloomberg.&nbsp;<h2>What’s at stake?</h2>According to Bloomberg, since 2020, EB-5 visa holders have contributed an estimated $37 billion in direct investment&nbsp;to the US economy—a flow now under threat as geopolitical tensions and policy uncertainty deter high-net-worth investors.&nbsp;Meanwhile, IMF analysts, as quoted by Reuters, have warned of a growing 5 per cent probability&nbsp;that global GDP could dip below 0.4 per cent&nbsp;in worst-case scenarios if trade hostilities between major economies re-escalate.&nbsp;Adding to the gloom, US Commerce Department data cited by CNBC&nbsp;reveals that US imports in April fell to $276 billion, marking a historic monthly drop and effectively signalling the end of the short-lived surge in trade volumes that had been driven by companies stockpiling ahead of fresh US tariffs.&nbsp;The IMF’s latest signal reinforces what global businesses already suspect—2025’s early trade momentum is fading, and the world is entering a new phase of slow, uncertain growth.&nbsp;While the recent US-China detente offers hope, the path to stability will depend on consistency—something that Washington and Beijing have struggled with in recent years.&nbsp;Until then, the global trade engine may continue to sputter, caught between geopolitical crosswinds and domestic politics.&nbsp;(With inputs from the agencies)&nbsp;

The IMF flags an unwinding of global trade momentum following US tariff pauses, with risks of reduced GDP growth, falling imports, and rising financial instability.

The International Monetary Fund (IMF) has issued a cautionary note, signalling that the brief rebound in global trade—fueled by firms rushing to beat US tariffs—is now losing steam. But the global economy remains clouded by uncertainty, with trade wars and economic nationalism reshaping long-held dynamics. At a press briefing Thursday, IMF spokesperson Julie Kozack said recent US trade negotiations—including deals with China and the UK—and a partial tariff rollback are “modestly positive” signs, as per Bloomberg. However, she stressed that escalating steel and aluminium tariffs, coupled with volatile import flows, point to an unpredictable road ahead. “We are in an environment of very high uncertainty,” Kozack said. “And uncertainty in general tends to dampen economic activity,” as quoted by Bloomberg. Global slowdown begins to bite Data from the US Commerce Department earlier this month showed a record 20% plunge in April imports, as companies halted the pre-emptive stockpiling of goods. As per Bloomberg, the IMF noted that this dramatic reversal reflects the exhaustion of the so-called “front-loading effect” that temporarily inflated trade volumes earlier in 2025. The sharp fall in imports also led to a 46 per cent narrowing of the US goods trade deficit, a development that has momentarily offset recessionary concerns in Q1. But analysts warn the effect is unlikely to sustain growth. “We expect second-quarter data to reflect not just weaker trade volumes but also slower consumer spending and inventory rundown,” said Rajiv Malhotra, a global economist at HSBC, as quoted by Bloomberg. IMF to revise growth forecast in July The IMF plans to release its updated World Economic Outlook next month. In April, the Fund had already cut its global GDP growth estimate to 2.8 per cent, down from 3.3 per cent, citing trade frictions and financial volatility, as per Bloomberg. Despite a temporary tariff pause by the US on April 9—part of a broader de-escalation in its dispute with China and allies—the Fund believes the global trade system is now under structural pressure. The World Bank has echoed this view, warning that trade tensions could impact two-thirds of developing economies and deepen inequality, especially in export-dependent regions. Trade war fatigue sets in President Donald Trump’s aggressive tariff policy has led to steep duties on steel, aluminium, and a variety of Chinese imports. These moves were partially rolled back after recent talks in London and Geneva, but the damage may be done. The OECD now projects that global trade growth will drop to 2.8% in 2025 and further slow to 2.2% by 2026, far below pre-pandemic averages. Emerging markets, particularly in Asia and Africa, are expected to bear the brunt. “Policymakers must focus on reducing trade policy uncertainty and rebuilding trust,” Kozack said, adding that domestic reforms and diversified supply chains are essential to economic resilience, as quoted by Bloomberg. What’s at stake? According to Bloomberg, since 2020, EB-5 visa holders have contributed an estimated $37 billion in direct investment to the US economy—a flow now under threat as geopolitical tensions and policy uncertainty deter high-net-worth investors. Meanwhile, IMF analysts, as quoted by Reuters, have warned of a growing 5 per cent probability that global GDP could dip below 0.4 per cent in worst-case scenarios if trade hostilities between major economies re-escalate. Adding to the gloom, US Commerce Department data cited by CNBC reveals that US imports in April fell to $276 billion, marking a historic monthly drop and effectively signalling the end of the short-lived surge in trade volumes that had been driven by companies stockpiling ahead of fresh US tariffs. The IMF’s latest signal reinforces what global businesses already suspect—2025’s early trade momentum is fading, and the world is entering a new phase of slow, uncertain growth. While the recent US-China detente offers hope, the path to stability will depend on consistency—something that Washington and Beijing have struggled with in recent years. Until then, the global trade engine may continue to sputter, caught between geopolitical crosswinds and domestic politics. (With inputs from the agencies)

IMF warns of slowing global trade as US tariff surges fade, risking weaker economic growth amid high uncertainty.&nbsp;

IMF warns of global trade dip as US tariff wave reverses 2025 surge

The World Trade Organization has slashed its forecast for global trade this year amid the turbulence over the sharp spike in US tariffs and consequent uncertainty that has battered market sentiments and stock indices.
The latest Global Trade Outlook released by the World Trade Organization on April 16 says US President Donald Trump&rsquo;s tariffs will force a 0.2% contraction by volume in global trade in 2025, instead of the 2.7% growth that was projected otherwise. The Geneva-based WTO further warns that if Trump lifts the pause on his earlier announced reciprocal tariffs, it would amplify the problems, and the contraction could be even much bigger.&nbsp;
&ldquo;Together, reciprocal tariffs and spreading trade policy uncertainty would lead to a 1.5% decline in world merchandise trade in 2025,&rdquo; the WTO said in its report Wednesday. North American trade will be hardest hit, while Asia and Europe will see a modest rise in growth, it added. Also read |&nbsp;<a href="https://www.wionews.com/world/stop-threatening-china-warns-after-us-slaps-beijing-with-whopping-245-tariffs-donald-trump-trade-war-imports-8968395" target="_blank" rel="noopener">'Stop threatening': China warns after US slaps Beijing with whopping 245% tariffs</a><a href="https://www.wionews.com/world/stop-threatening-china-warns-after-us-slaps-beijing-with-whopping-245-tariffs-donald-trump-trade-war-imports-8968395" target="_blank" rel="noopener">&nbsp;</a>
The economic disruption unleashed by Trump tariffs is likely to lead to a global growth loss of 0.6 percentage points. World GDP is now expected to grow at 2.2% instead of the baseline 2.8% in 2025, the WTO said.
&ldquo;The disruption in US-China trade is expected to trigger significant trade diversion, raising concerns among third markets about increased competition from China,&rdquo; the WTO outlook added. &ldquo;Unprecedented nature of the recent shift in trade policy poses a challenge for economic forecasters since there has been no directly comparable event in recent history,&rdquo; the report said.
The ramifications are likely to be far and wide. 2024 was the first year since 2017 (excluding the pandemic rebound) when global trade (2.9%) grew at a faster rate than global GDP (2.8%). Now, global trade will shrink by 0.2% in 2025, and the world will grow slower at 2.2%. WATCH |&nbsp;<a href="https://www.wionews.com/videos/chinas-gdp-growth-defies-expectations-tariff-risks-loom-8967252" target="_blank" rel="noopener">China's GDP growth defies expectations, tariff risks loom</a>
The trade forecasts released by the WTO are deemed highly tentative given the volatile situation.
&ldquo;If realized, reciprocal tariffs would reduce global merchandise trade volume growth by 0.6 percentage points in 2025 while spreading trade policy uncertainty could shave off another 0.8 percentage points. Together, they would lead to a 1.5% decline in world merchandise trade in 2025,&rdquo; the report says.
However, not everyone will suffer the same disruption because of Trump&rsquo;s tariffs. The WTO expects North America to be the biggest negative drag (1.7 percentage points), while Asia&rsquo;s contribution to global trade growth is expected to halve to 0.6 percentage points. Services trade will also be hurt. The WTO now sees commercial services growing by 4% this year, compared to 6.8% last year.
Also read:&nbsp;<a href="https://www.wionews.com/world/china-opens-to-talks-with-us-amid-tariff-war-wants-trump-admin-to-show-respect-8968109" target="_blank" rel="noopener">China opens to talks with US amid tariff war, wants Trump admin to show respect</a>
The global trade realignment could open up some opportunities for Less Developed Countries to substitute some of China&rsquo;s exports to the US, but they will also have to deal with a surge of Chinese imports. China is expected to face a 77% fall in its exports to the US because of Trump tariffs.
&ldquo;There is a risk that the tit-for-tat tariff increases between the two biggest economies of the world could spread. The economic costs of a split into two blocs would be substantial,&rdquo; it said.

Business & Economy | World: The Geneva-based WTO further warns that if Trump lifts the pause on his earlier announced reciprocal tariffs, it would amplify the problems, and the global trade contraction could be even much bigger.

The World Trade Organization has slashed its forecast for global trade this year amid the turbulence over the sharp spike in US tariffs and consequent uncertainty that has battered market sentiments and stock indices. The latest Global Trade Outlook released by the World Trade Organization on April 16 says US President Donald Trump’s tariffs will force a 0.2% contraction by volume in global trade in 2025, instead of the 2.7% growth that was projected otherwise. The Geneva-based WTO further warns that if Trump lifts the pause on his earlier announced reciprocal tariffs, it would amplify the problems, and the contraction could be even much bigger. “Together, reciprocal tariffs and spreading trade policy uncertainty would lead to a 1.5% decline in world merchandise trade in 2025,” the WTO said in its report Wednesday. North American trade will be hardest hit, while Asia and Europe will see a modest rise in growth, it added. Also read | 'Stop threatening': China warns after US slaps Beijing with whopping 245% tariffs The economic disruption unleashed by Trump tariffs is likely to lead to a global growth loss of 0.6 percentage points. World GDP is now expected to grow at 2.2% instead of the baseline 2.8% in 2025, the WTO said. “The disruption in US-China trade is expected to trigger significant trade diversion, raising concerns among third markets about increased competition from China,” the WTO outlook added. “Unprecedented nature of the recent shift in trade policy poses a challenge for economic forecasters since there has been no directly comparable event in recent history,” the report said. The ramifications are likely to be far and wide. 2024 was the first year since 2017 (excluding the pandemic rebound) when global trade (2.9%) grew at a faster rate than global GDP (2.8%). Now, global trade will shrink by 0.2% in 2025, and the world will grow slower at 2.2%. WATCH | China's GDP growth defies expectations, tariff risks loom The trade forecasts released by the WTO are deemed highly tentative given the volatile situation. “If realized, reciprocal tariffs would reduce global merchandise trade volume growth by 0.6 percentage points in 2025 while spreading trade policy uncertainty could shave off another 0.8 percentage points. Together, they would lead to a 1.5% decline in world merchandise trade in 2025,” the report says. However, not everyone will suffer the same disruption because of Trump’s tariffs. The WTO expects North America to be the biggest negative drag (1.7 percentage points), while Asia’s contribution to global trade growth is expected to halve to 0.6 percentage points. Services trade will also be hurt. The WTO now sees commercial services growing by 4% this year, compared to 6.8% last year. Also read: China opens to talks with US amid tariff war, wants Trump admin to show respect The global trade realignment could open up some opportunities for Less Developed Countries to substitute some of China’s exports to the US, but they will also have to deal with a surge of Chinese imports. China is expected to face a 77% fall in its exports to the US because of Trump tariffs. “There is a risk that the tit-for-tat tariff increases between the two biggest economies of the world could spread. The economic costs of a split into two blocs would be substantial,” it said.

Trump tariffs: WTO warns of economic turbulence ahead, slashes global trade forecast figures

India&rsquo;s Union Commerce Minister Piyush Goyal highlighted China&rsquo;s unfair trade practices, hidden subsidies, and distorted labour models as the reasons for its economic rise in the last three decades and that led to huge global trade imbalances. &ldquo;This growth was fuelled by unfair trade practices. This growth happened at the cost of fair play,&rdquo; Goyal told the India Global Forum in Mumbai on Monday. &ldquo;Its foundation lay in actions which, by the rules of the game, would be considered improper.&rdquo;
China&rsquo;s ascent has come &ldquo;at the cost of national economies and the manufacturing ecosystem&rdquo; in many countries&mdash;including India, he said.&nbsp; &ldquo;The current trade standoff, he argued, is not a flashpoint but the result of years of myopia by the international community,&rdquo; Goyal added.&nbsp; &ldquo;The current state of play, in some way, is a culmination of almost three decades of this attack on several economies,&rdquo; he said.&nbsp;
Also Read |&nbsp;<a href="https://www.wionews.com/india-news/pakistani-man-among-2-arrested-for-grenade-attack-on-punjab-bjp-leaders-home-8939764" rel="dofollow noopener" target="_blank">Pakistani man among 2 arrested for grenade attack on Punjab BJP leader&rsquo;s home</a>
Goyal accused global leaders of being overly optimistic about China&rsquo;s intentions, believing it would liberalise, improve transparency and adopt fairer trade principles, but instead, China used predatory pricing, opaque subsidy structures, and labour norms that tilted the playing field.&nbsp;
<h2>&lsquo;India Inc. should be nationalistic, alert govt about dumping of goods&rsquo;</h2>
Goyal exhorted Indian firms to be nationalistic in spirit by supporting domestic supply chains, collaborating across sectors, and aligning with national priorities.
India had risen to global challenges during the Y2K IT transition and the Covid-19 pandemic, and can turn this phase also into an opportunity, he said.&nbsp;
Also Read |&nbsp;<a href="https://www.wionews.com/world/state-executions-rose-32-to-decade-high-iran-iraq-and-saudi-arabia-behind-sharp-surge-8939140" rel="noopener" target="_blank">State executions rise 32% to decade high; Iran, Iraq and Saudi Arabia behind &lsquo;sharp surge&rsquo;</a>
He also urged industry to alert the government when they witness dumping of foreign goods in their sectors, especially from China. The steel industry has already submitted representations, which are being evaluated, he added.
<h2>&lsquo;Trade deficit with China soared in UPA rule&rsquo;</h2>
Goyal went on to blame the previous UPA government, claiming that the trade deficit with China soared during its tenure. &ldquo;When Atal Bihari Vajpayee laid down office in 2004, the India-China trade deficit was at a certain level. In the 10 years of the UPA government, that trade deficit soared by 25 times,&rdquo; he said. He also accused Rahul Gandhi of signing a controversial MoU with the Communist Party of China, which he implied was followed by tariff reductions that allowed massive Chinese dumping into Indian markets.
&ldquo;This killed many of our local manufacturing sectors and made us dependent on China. The country is still suffering from those 10 years of mismanagement of the economy,&rdquo; he said.&nbsp;
Also Read |&nbsp;<a href="https://www.wionews.com/world/japan-pm-shigeru-ishiba-calls-trump-asks-for-review-of-tariffs-more-talks-8936024" target="_blank" rel="noopener">Japan PM Shigeru Ishiba calls Trump, asks for review of tariffs, more talks</a>
About the ongoing tariff mayhem, Goyal said, &ldquo;Our applied tariff to the United States is probably seven or eight per cent. It&rsquo;s not humongous.&rdquo;
He emphasised India will pursue bilateral trade pacts with nations that respect fair, rules-based systems.&nbsp; Goyal refused to disclose the status of talks with Washington but said that India&rsquo;s economy is resilient, with limited dependence on exports. The rupee remains stable, and Indian equities were among the least affected by Trump&rsquo;s tariff blitz, he added.
Also Read |&nbsp;<a href="https://www.wionews.com/world/video-uks-birmingham-needs-the-pied-piper-as-rats-run-amok-in-city-amid-trash-piles-8933118" target="_blank" rel="noopener">Video: UK&rsquo;s Birmingham needs the Pied Piper as rats run amok in city amid trash piles</a>
&ldquo;Indian equities are fortunate to be at the bottom of the table of markets impacted by Trump&rsquo;s disruptive policies,&rdquo; he said.
<h2>&lsquo;It&rsquo;s not de-globalisation, but re-globalisation&rsquo;</h2>
On fears of de-globalisation, Goyal said the world is not fragmenting but reorienting around fairer trade principles and building systems where no player gains by cheating. &ldquo;We are not in an era of de-globalisation, but one of re-globalisation,&rdquo; he said.

Business & Economy | India News: Goyal accused global leaders of being too optimistic about China’s intentions, believing it would liberalise, improve transparency, but China used predatory pricing and opaque subsidy structures.

India’s Union Commerce Minister Piyush Goyal highlighted China’s unfair trade practices, hidden subsidies, and distorted labour models as the reasons for its economic rise in the last three decades and that led to huge global trade imbalances. “This growth was fuelled by unfair trade practices. This growth happened at the cost of fair play,” Goyal told the India Global Forum in Mumbai on Monday. “Its foundation lay in actions which, by the rules of the game, would be considered improper.” China’s ascent has come “at the cost of national economies and the manufacturing ecosystem” in many countries—including India, he said. “The current trade standoff, he argued, is not a flashpoint but the result of years of myopia by the international community,” Goyal added. “The current state of play, in some way, is a culmination of almost three decades of this attack on several economies,” he said. Also Read | Pakistani man among 2 arrested for grenade attack on Punjab BJP leader’s home Goyal accused global leaders of being overly optimistic about China’s intentions, believing it would liberalise, improve transparency and adopt fairer trade principles, but instead, China used predatory pricing, opaque subsidy structures, and labour norms that tilted the playing field. ‘India Inc. should be nationalistic, alert govt about dumping of goods’ Goyal exhorted Indian firms to be nationalistic in spirit by supporting domestic supply chains, collaborating across sectors, and aligning with national priorities. India had risen to global challenges during the Y2K IT transition and the Covid-19 pandemic, and can turn this phase also into an opportunity, he said. Also Read | State executions rise 32% to decade high; Iran, Iraq and Saudi Arabia behind ‘sharp surge’ He also urged industry to alert the government when they witness dumping of foreign goods in their sectors, especially from China. The steel industry has already submitted representations, which are being evaluated, he added. ‘Trade deficit with China soared in UPA rule’ Goyal went on to blame the previous UPA government, claiming that the trade deficit with China soared during its tenure. “When Atal Bihari Vajpayee laid down office in 2004, the India-China trade deficit was at a certain level. In the 10 years of the UPA government, that trade deficit soared by 25 times,” he said. He also accused Rahul Gandhi of signing a controversial MoU with the Communist Party of China, which he implied was followed by tariff reductions that allowed massive Chinese dumping into Indian markets. “This killed many of our local manufacturing sectors and made us dependent on China. The country is still suffering from those 10 years of mismanagement of the economy,” he said. Also Read | Japan PM Shigeru Ishiba calls Trump, asks for review of tariffs, more talks About the ongoing tariff mayhem, Goyal said, “Our applied tariff to the United States is probably seven or eight per cent. It’s not humongous.” He emphasised India will pursue bilateral trade pacts with nations that respect fair, rules-based systems. Goyal refused to disclose the status of talks with Washington but said that India’s economy is resilient, with limited dependence on exports. The rupee remains stable, and Indian equities were among the least affected by Trump’s tariff blitz, he added. Also Read | Video: UK’s Birmingham needs the Pied Piper as rats run amok in city amid trash piles “Indian equities are fortunate to be at the bottom of the table of markets impacted by Trump’s disruptive policies,” he said. ‘It’s not de-globalisation, but re-globalisation’ On fears of de-globalisation, Goyal said the world is not fragmenting but reorienting around fairer trade principles and building systems where no player gains by cheating. “We are not in an era of de-globalisation, but one of re-globalisation,” he said.

‘Blame China, not Trump’: Piyush Goyal says Beijing’s malpractices created global trade imbalance

US President Donald Trump is poised to unveil sweeping new liberation day tariffs today. But has kept the world guessing until the last minute about the scope of the move that could spark a global trade war. Trump will roll out the measures flanked by cabinet members in the Rose Garden of the white house at 4:00 pm local time. While Trump insisted he has decided on the reciprocal tariffs hitting countries that have targeted the United States, the white house admitted he was still ironing out the details with less than 24 hours to go.<o:p></o:p>
White House press secretary Karoline Leavitt said, &ldquo;He is going to announce that decision tomorrow. I don't want to get ahead of the president. This is obviously a very big day. He's with his trade and tariff team right now, perfecting it to make sure this is a perfect deal for the American people and the American worker. And you will all find out in about 24 hours from now."<o:p></o:p>
Donald trump has been insisting in the face of economic experts that tariffs are a cure-all to tackle America&rsquo;s trade imbalances with friends and foes alike. <o:p></o:p>
<h2 class="MsoNormal">Democrats call trump tariffs made up emergency<o:p></o:p></h2>
While critics say that not only will US consumers bear the brunt as importers pass on the cost, but that they could increase the risk of a damaging recession at home and abroad, democratic senators accused trump of advocating policies that are designed to offset the cost of extending his 2017 tax cuts. They said the cost to the average family could be close to 5,000 to 6,500 US dollars this year.<o:p></o:p>
Senate minority leader Chuck Schumer, a democrat of New York, said, "President Trump says, quote, 'I couldn't care less if prices go up.' to American families, America, you hear that Donald Trump says he couldn't care less if you pay more. And it's not just a little -- the estimates go as high as 6,500 dollars more for the average American family."<o:p></o:p>
Senator Mark Warner, a democrat of Virginia, "Don't take my words about how much these tariffs are going to cost. Take the ever-colourful Peter Navarro, who -- Trump -- was one of his trade people, says it will raise $100 billion off the car tariffs each year, 600 billion off the reciprocal tariffs, $700 billion tariffs, who's going to pay those American consumers? This will be the largest tax increase on American consumers in modern times - end of story."<o:p></o:p>
Global markets have been jittery for days ahead of Trump's announcement, while the countries most likely in the crosshairs have called for talks even as they ready retaliatory measures. <o:p></o:p>
Canadian Prime Minister Mark Carney said his government will be "very deliberate" in its countermeasures if the US President proceeds with his proposed tariffs. He emphasised that Canada will not allow itself to be weakened by US policies.<o:p></o:p>
Canada's Prime Minister, Mark Carney, said, &ldquo;President Trump is in the process of trying to fundamentally restructure the US economy. And that means that our economy here needs to change dramatically as well. And as I made clear to President Trump in our call last week, I will reject, I will reject all attempts to weaken Canada. All attempts to wear us down, to break us down so that America can own us.&rdquo;<o:p></o:p>
While Mexican President Claudia Sheinbaum said her government does not subscribe to a retaliatory "eye for an eye" approach regarding US tariffs, but it is prepared to respond strategically.<o:p></o:p>
Mexican President, Claudia Sheinbaum, said, &ldquo;We do not believe in an eye for an eye, a tooth for a tooth, because that always leads to a bad situation. Of course, measures are taken because measures are taken on the other side, but the dialogue must continue. It's not about tit-for-tat, but about what is best for Mexico and how to face this situation.&rdquo;<o:p></o:p>
(With the inputs from the agencies)<o:p></o:p>

Business & Economy: Donald trump has been insisting in the face of economic experts that tariffs are a cure-all to tackle America’s trade imbalances with friends and foes alike.

US President Donald Trump is poised to unveil sweeping new liberation day tariffs today. But has kept the world guessing until the last minute about the scope of the move that could spark a global trade war. Trump will roll out the measures flanked by cabinet members in the Rose Garden of the white house at 4:00 pm local time. While Trump insisted he has decided on the reciprocal tariffs hitting countries that have targeted the United States, the white house admitted he was still ironing out the details with less than 24 hours to go. White House press secretary Karoline Leavitt said, “He is going to announce that decision tomorrow. I don't want to get ahead of the president. This is obviously a very big day. He's with his trade and tariff team right now, perfecting it to make sure this is a perfect deal for the American people and the American worker. And you will all find out in about 24 hours from now." Donald trump has been insisting in the face of economic experts that tariffs are a cure-all to tackle America’s trade imbalances with friends and foes alike. Democrats call trump tariffs made up emergency While critics say that not only will US consumers bear the brunt as importers pass on the cost, but that they could increase the risk of a damaging recession at home and abroad, democratic senators accused trump of advocating policies that are designed to offset the cost of extending his 2017 tax cuts. They said the cost to the average family could be close to 5,000 to 6,500 US dollars this year. Senate minority leader Chuck Schumer, a democrat of New York, said, "President Trump says, quote, 'I couldn't care less if prices go up.' to American families, America, you hear that Donald Trump says he couldn't care less if you pay more. And it's not just a little -- the estimates go as high as 6,500 dollars more for the average American family." Senator Mark Warner, a democrat of Virginia, "Don't take my words about how much these tariffs are going to cost. Take the ever-colourful Peter Navarro, who -- Trump -- was one of his trade people, says it will raise $100 billion off the car tariffs each year, 600 billion off the reciprocal tariffs, $700 billion tariffs, who's going to pay those American consumers? This will be the largest tax increase on American consumers in modern times - end of story." Global markets have been jittery for days ahead of Trump's announcement, while the countries most likely in the crosshairs have called for talks even as they ready retaliatory measures. Canadian Prime Minister Mark Carney said his government will be "very deliberate" in its countermeasures if the US President proceeds with his proposed tariffs. He emphasised that Canada will not allow itself to be weakened by US policies. Canada's Prime Minister, Mark Carney, said, “President Trump is in the process of trying to fundamentally restructure the US economy. And that means that our economy here needs to change dramatically as well. And as I made clear to President Trump in our call last week, I will reject, I will reject all attempts to weaken Canada. All attempts to wear us down, to break us down so that America can own us.” While Mexican President Claudia Sheinbaum said her government does not subscribe to a retaliatory "eye for an eye" approach regarding US tariffs, but it is prepared to respond strategically. Mexican President, Claudia Sheinbaum, said, “We do not believe in an eye for an eye, a tooth for a tooth, because that always leads to a bad situation. Of course, measures are taken because measures are taken on the other side, but the dialogue must continue. It's not about tit-for-tat, but about what is best for Mexico and how to face this situation.” (With the inputs from the agencies)

Trump's 'Liberation Day' tariffs spark global trade concerns

Chinese leader Xi Jinping warned of "severe challenges" to global trade amid rising "unilateralism and protectionism," vowing to further open China's doors to foreign firms. Watch in for more details!

China's Xi Jinping warns of severe global trade challenges

According to a recent un report India and China saw significant trade growth in the final quarter of 2024, even as global risks continued to mount. While developing economies outpaced expectations, many developed nations struggled with trade contractions.

United Nations report on global trade in 2024

In recent years, the global trade landscape has seen significant shifts, especially in U.S. trade patterns. According to a McKinsey report, U.S. imports from China have experienced a steady decline, falling from 21 percent in 2021 to 18 percent in 2023. This shift can largely be attributed to ongoing geopolitical tensions and the broader diversification of trade networks. Watch in for more details!

Geopolitical shifts are redefining trade patterns

Global stocks paused on Wednesday and currencies were mixed as investors worried over the next potential target for U.S. tariffs under President-elect Donald Trump, a day after he pledged new levies on Canada, Mexico and China.

Gold Regains Its Shine: Up Around 0.3% | Asian Stocks Slide on Tariff Woes | WION

Donald Trump's return to the US presidency has sent shockwaves through global financial markets, leaving central bankers worldwide grappling with the potential fallout of his economic policies, as detailed in a report by Bloomberg.

A renewed focus on tariffs, tax cuts, and stricter immigration policies has prompted fears of slower global growth and faster inflation, both of which could complicate central banks' ability to adjust interest rates in response, the Bloomberg report explained further.

Trump’s policies can strengthen dollar and tighten global liquidity<o:p></o:p>

Trump's promises to impose steep tariffs, including up to 60 per cent on Chinese goods and 20 per cent on imports from other nations, are expected to disrupt global trade flows. This protectionist stance could hurt economic expansion, particularly in Europe and emerging markets, while driving inflation in the US higher domestic prices would make the Federal Reserve less likely to ease rates, further strengthening the US dollar and tightening global liquidity.

The European Central Bank (ECB), already concerned about slowing growth, has factored in the potential for additional rate cuts in response to Trump’s trade policies. Goldman Sachs predicts a further reduction in ECB rates, while China, facing tariffs on its exports to the US, may need to ease monetary policy more aggressively, putting pressure on the yuan. However, this could limit the room for movement in other regions, especially emerging markets, where central banks are increasingly focused on stabilizing currencies.

Central banks in Asia are already facing the heat<o:p></o:p>

Central banks in Asia are already feeling the pressure. As Trump’s election results began to settle in, the US dollar surged against major currencies, triggering interventions by authorities in Asia to support their domestic currencies. In India, Reserve Bank Governor Shaktikanta Das expressed confidence in the country’s resilience but acknowledged the potential for volatility, with the Indian rupee spiking before calming, suggesting the RBI may have intervened in the market.

Similarly, China’s central bank stepped in to stabilize the yuan, which weakened over 1 per cent following the election. While the People's Bank of China (PBOC) may need to accelerate its policy easing to counteract the impact of tariffs, this could create additional stress for neighboring economies, which may be reluctant to follow suit, particularly if the US Federal Reserve slows its own rate-cutting cycle.

Trump’s policies can lead to a sharp escalation in tariffs<o:p></o:p>

Bloomberg Economics warns that Trump's protectionist policies could lead to a sharp rise in tariffs, potentially reducing US trade volumes with key partners such as China, Canada, and Mexico. A significant increase in US tariffs could disrupt trade flows, harm global growth, and drive inflation higher, particularly in countries reliant on exports to the US. The People’s Bank of China may be forced to act quickly, but other central banks may be less inclined to cut rates, even as inflationary pressures mount.

Elsewhere, concerns about the global economic impact of Trump’s victory were felt in Europe, particularly in the east, where fears of reduced US support for Ukraine are growing. The Euro weakened significantly against the dollar, with traders bracing for the potential economic fallout of Trump's trade policies. Similarly, in Australia, the Reserve Bank is monitoring the potential impact of tariffs on China, with concern that a trade war could hurt the Australian economy.

Therefore, as central banks navigate the uncertain aftermath of Trump’s election, the global financial system faces a challenging balancing act. 

The twin challenges of managing inflation and maintaining growth could lead to a tightening of monetary policy in some regions, while others, particularly in emerging markets, may struggle to protect their currencies from the strong US dollar.

Donald Trump's return to the US presidency has sent shockwaves through global financial markets, leaving central bankers worldwide grappling with the potential fallout of his economic policies, as detailed in a report by Bloomberg.

Donald Trump's return to the US presidency has sent shockwaves through global financial markets, leaving central bankers worldwide grappling with the potential fallout of his economic policies, as detailed in a report by Bloomberg. A renewed focus on tariffs, tax cuts, and stricter immigration policies has prompted fears of slower global growth and faster inflation, both of which could complicate central banks' ability to adjust interest rates in response, the Bloomberg report explained further. Trump’s policies can strengthen dollar and tighten global liquidity Trump's promises to impose steep tariffs, including up to 60 per cent on Chinese goods and 20 per cent on imports from other nations, are expected to disrupt global trade flows. This protectionist stance could hurt economic expansion, particularly in Europe and emerging markets, while driving inflation in the US higher domestic prices would make the Federal Reserve less likely to ease rates, further strengthening the US dollar and tightening global liquidity. The European Central Bank (ECB), already concerned about slowing growth, has factored in the potential for additional rate cuts in response to Trump’s trade policies. Goldman Sachs predicts a further reduction in ECB rates, while China, facing tariffs on its exports to the US, may need to ease monetary policy more aggressively, putting pressure on the yuan. However, this could limit the room for movement in other regions, especially emerging markets, where central banks are increasingly focused on stabilizing currencies. Central banks in Asia are already facing the heat Central banks in Asia are already feeling the pressure. As Trump’s election results began to settle in, the US dollar surged against major currencies, triggering interventions by authorities in Asia to support their domestic currencies. In India, Reserve Bank Governor Shaktikanta Das expressed confidence in the country’s resilience but acknowledged the potential for volatility, with the Indian rupee spiking before calming, suggesting the RBI may have intervened in the market. Similarly, China’s central bank stepped in to stabilize the yuan, which weakened over 1 per cent following the election. While the People's Bank of China (PBOC) may need to accelerate its policy easing to counteract the impact of tariffs, this could create additional stress for neighboring economies, which may be reluctant to follow suit, particularly if the US Federal Reserve slows its own rate-cutting cycle. Trump’s policies can lead to a sharp escalation in tariffs Bloomberg Economics warns that Trump's protectionist policies could lead to a sharp rise in tariffs, potentially reducing US trade volumes with key partners such as China, Canada, and Mexico. A significant increase in US tariffs could disrupt trade flows, harm global growth, and drive inflation higher, particularly in countries reliant on exports to the US. The People’s Bank of China may be forced to act quickly, but other central banks may be less inclined to cut rates, even as inflationary pressures mount. Elsewhere, concerns about the global economic impact of Trump’s victory were felt in Europe, particularly in the east, where fears of reduced US support for Ukraine are growing. The Euro weakened significantly against the dollar, with traders bracing for the potential economic fallout of Trump's trade policies. Similarly, in Australia, the Reserve Bank is monitoring the potential impact of tariffs on China, with concern that a trade war could hurt the Australian economy. Therefore, as central banks navigate the uncertain aftermath of Trump’s election, the global financial system faces a challenging balancing act. The twin challenges of managing inflation and maintaining growth could lead to a tightening of monetary policy in some regions, while others, particularly in emerging markets, may struggle to protect their currencies from the strong US dollar.

Trump's victory shakes global rate-cut expectations amid trade and inflation concerns

The world economy might contract by the size of the combined French and German economies, if there is a broad-based trade war between the world’s major economies, stated the International Monetary Fund (IMF) according to a detailed report by the BBC.

The BBC report detailed further that, it comes as concerns are heightened ahead of the possible re-election of Donald Trump. Trump says he plans to introduce a universal tax or tariff of up to 20 per cent on all imports into the US, while the European Union is already planning retaliation if Washington goes ahead with the new levy.

Brief details about Gita Gopinath<o:p></o:p>

Gita Gopinath is the First Deputy Managing Director of the International Monetary Fund (IMF) as of January 21, 2022. In that role, she oversees the work of staff, represents the Fund at multilateral forums, and maintains high-level contacts with member governments and Board members, the media, and other institutions. She also leads the Fund’s work on surveillance and related policies and oversees research and flagship publications. Gopinath previously served as the Chief Economist of the Fund from 2019-22.

Trump again raised tariff talk<o:p></o:p>

Further, last week, Trump said “tariff is the most beautiful word in the dictionary”, and global markets and finance ministers are now beginning to take seriously the prospect of him enacting the ideas, the BBC report elaborated further.

IMF Deputy Managing Director Gita Gopinath said the Fund could not yet assess the specifics of Trump's trade plans, but thinks that “if you have some very serious decoupling and broad scale use of tariffs, you could end up with a loss to world GDP of close to 7 per cent".

"These are very large numbers, 7 per cent is basically losing the French and German economies. That's the size of the loss that would be," she continued. Ms Gopinath also said tariffs worth hundreds of billions of dollars “is very different from the world we’ve lived in over the past two of three decades”.

The IMF’s deputy chief further stated that another of the Fund’s main messages at its Annual Meetings was to warn on ballooning levels of global government debt.

She said the current period of steady economic growth was a “moment to rebuild your fiscal buffers” as “this will not be the last crisis. There will be additional shocks. You will need the fiscal space to respond. And now is the time to do it”..

Important to look at the bright side <o:p></o:p>

Ms Gopinath said it was also necessary to “look at the bright side” with a resilient world economy after “some very tough knocks”. She suggested the world economy had seen a soft landing from the multiple crises. “Past experiences with bringing down inflation have not been with a soft landing. It was a big, big increases in unemployment. So that was a big hit, and it has turned out to be much better than many feared”, she said.

Ms Gopinath added that it was a “good win” for central banks everywhere that inflation has come down without high unemployment. But that now was the time to rebuild resilience in a challenging economic outlook. Hence, focus of investors and market participants will shift towards the issues highlighted by the Deputy Managing Director of IMF, Gita Gopinath and it will help them in taking better investment decisions.

The world economy might contract by the size of the combined French and German economies, if there is a broad-based trade war between the world’s major economies, stated the International Monetary Fund (IMF) according to a detailed report by the BBC.

The world economy might contract by the size of the combined French and German economies, if there is a broad-based trade war between the world’s major economies, stated the International Monetary Fund (IMF) according to a detailed report by the BBC. The BBC report detailed further that, it comes as concerns are heightened ahead of the possible re-election of Donald Trump. Trump says he plans to introduce a universal tax or tariff of up to 20 per cent on all imports into the US, while the European Union is already planning retaliation if Washington goes ahead with the new levy. Brief details about Gita Gopinath Gita Gopinath is the First Deputy Managing Director of the International Monetary Fund (IMF) as of January 21, 2022. In that role, she oversees the work of staff, represents the Fund at multilateral forums, and maintains high-level contacts with member governments and Board members, the media, and other institutions. She also leads the Fund’s work on surveillance and related policies and oversees research and flagship publications. Gopinath previously served as the Chief Economist of the Fund from 2019-22. Trump again raised tariff talk Further, last week, Trump said “tariff is the most beautiful word in the dictionary”, and global markets and finance ministers are now beginning to take seriously the prospect of him enacting the ideas, the BBC report elaborated further. IMF Deputy Managing Director Gita Gopinath said the Fund could not yet assess the specifics of Trump's trade plans, but thinks that “if you have some very serious decoupling and broad scale use of tariffs, you could end up with a loss to world GDP of close to 7 per cent". "These are very large numbers, 7 per cent is basically losing the French and German economies. That's the size of the loss that would be," she continued. Ms Gopinath also said tariffs worth hundreds of billions of dollars “is very different from the world we’ve lived in over the past two of three decades”. The IMF’s deputy chief further stated that another of the Fund’s main messages at its Annual Meetings was to warn on ballooning levels of global government debt. She said the current period of steady economic growth was a “moment to rebuild your fiscal buffers” as “this will not be the last crisis. There will be additional shocks. You will need the fiscal space to respond. And now is the time to do it”.. Important to look at the bright side Ms Gopinath said it was also necessary to “look at the bright side” with a resilient world economy after “some very tough knocks”. She suggested the world economy had seen a soft landing from the multiple crises. “Past experiences with bringing down inflation have not been with a soft landing. It was a big, big increases in unemployment. So that was a big hit, and it has turned out to be much better than many feared”, she said. Ms Gopinath added that it was a “good win” for central banks everywhere that inflation has come down without high unemployment. But that now was the time to rebuild resilience in a challenging economic outlook. Hence, focus of investors and market participants will shift towards the issues highlighted by the Deputy Managing Director of IMF, Gita Gopinath and it will help them in taking better investment decisions.

IMF warns world to avoid trade war as it could dent global economy

China, once the engine of global economic growth, is now losing its steam. Its economic slowdown is sending shockwaves around the world. As the world's largest importer, china's decreased demand for goods is affecting countries from Australia to Europe. This slowdown is particularly impacting commodities like iron ore, crude oil, and luxury goods. Watch in for more details!

Global Trade Tensions Exacerbated By China's Economic Slowdown

As geopolitical tensions escalate in the South China Sea, experts are raising alarms about the potential risks to global trade. The region, a crucial maritime passage for economic giants including China, Japan, and India, has seen a surge in confrontations that could disrupt some of the busiest shipping routes in the world as detailed in a report by CNBC. <o:p></o:p>

Recent incidents involving the Philippine Coast Guard and Chinese vessels highlight the growing friction. On August 26, 2024, the BRP Cape Engano was observed on a supply mission to Sabina Shoal while Chinese Coast Guard ships loomed nearby. This incident is part of a broader pattern of confrontations between China and its neighbours, particularly the Philippines and Vietnam, raising concerns about the implications for international trade.<o:p></o:p>

The South China Sea is not just a regional flashpoint; it plays a vital role in global commerce. Mark Papic, chief global-macro strategist at BCA Research, emphasised the strategic importance of this area, stating that it is "the most crucial shipping route in the world regarding the value of trade that passes through it." Any conflict here poses significant threats to maritime activities globally.<o:p></o:p>

Trade volumes through this region are substantial. Although precise figures are hard to come by, estimates from the CSIS China Power Project suggest that around $3.4 trillion in trade transited through the South China Sea in 2016 alone, accounting for approximately 21 per cent of global trade. Furthermore, the United Nations Conference on Trade and Development noted that about 60 per cent of maritime trade occurs within Asia, with one-third facilitated by this critical waterway.<o:p></o:p>

The geopolitical landscape is complicated by China's extensive claims over nearly the entire South China Sea, based on its controversial "nine-dash line." This assertion contradicts a 2016 ruling from an international arbitration court in The Hague, which found no legal basis for China's claims. The situation has led to heightened tensions with neighbouring countries accusing China of encroaching on their exclusive economic zones.<o:p></o:p>

Recent confrontations have included accusations from the Philippines that Chinese missile boats have pursued its vessels and targeted patrolling aircraft with lasers near Half Moon Shoal. This follows a series of incidents involving collisions and aggressive tactics that have left Filipino sailors injured.<o:p></o:p>

Philippine President Ferdinand Marcos Jr. has called for urgent discussions on establishing a code of conduct for the South China Sea during regional summits, urging an end to what he describes as Beijing's intimidation tactics. Similarly, Vietnam’s foreign ministry has condemned China's actions against Vietnamese fishing boats.<o:p></o:p>

Richard Heydarian, a policy advisor and senior lecturer at the University of the Philippines, warns that these escalating tensions may soon provoke responses from other ASEAN nations. He stated, "It’s only a matter of time before more ASEAN nations voice their concerns."<o:p></o:p>

Despite these rising tensions, experts believe all parties have strong incentives to avoid escalating into full-scale conflict. Analysts suggest that China is employing "gray zone" tactics—coercive actions that fall short of open conflict but exceed standard diplomatic practices—to gradually assert its claims without provoking direct military confrontation.<o:p></o:p>

Abdulacob, a Southeast Asia fellow at Lowy Institute, cautioned that if China were to restrict navigation freedoms in these waters, it could lead to increased US involvement. However, he noted that currently all parties appear keen to avoid escalating tensions into military conflict.<o:p></o:p>

As this situation develops, it remains imperative for global stakeholders to monitor these tensions closely and seek diplomatic solutions to ensure the continued flow of trade through one of the world's most vital maritime corridors.<o:p></o:p>

As geopolitical tensions escalate in the South China Sea, experts are raising alarms about the potential risks to global trade. The region, a crucial maritime passage for economic giants including China, Japan, and India, has seen a surge in confrontations that could disrupt some of the busiest shipping routes in the world as detailed in a report by CNBC.

As geopolitical tensions escalate in the South China Sea, experts are raising alarms about the potential risks to global trade. The region, a crucial maritime passage for economic giants including China, Japan, and India, has seen a surge in confrontations that could disrupt some of the busiest shipping routes in the world as detailed in a report by CNBC. Recent incidents involving the Philippine Coast Guard and Chinese vessels highlight the growing friction. On August 26, 2024, the BRP Cape Engano was observed on a supply mission to Sabina Shoal while Chinese Coast Guard ships loomed nearby. This incident is part of a broader pattern of confrontations between China and its neighbours, particularly the Philippines and Vietnam, raising concerns about the implications for international trade. The South China Sea is not just a regional flashpoint; it plays a vital role in global commerce. Mark Papic, chief global-macro strategist at BCA Research, emphasised the strategic importance of this area, stating that it is "the most crucial shipping route in the world regarding the value of trade that passes through it." Any conflict here poses significant threats to maritime activities globally. Trade volumes through this region are substantial. Although precise figures are hard to come by, estimates from the CSIS China Power Project suggest that around $3.4 trillion in trade transited through the South China Sea in 2016 alone, accounting for approximately 21 per cent of global trade. Furthermore, the United Nations Conference on Trade and Development noted that about 60 per cent of maritime trade occurs within Asia, with one-third facilitated by this critical waterway. The geopolitical landscape is complicated by China's extensive claims over nearly the entire South China Sea, based on its controversial "nine-dash line." This assertion contradicts a 2016 ruling from an international arbitration court in The Hague, which found no legal basis for China's claims. The situation has led to heightened tensions with neighbouring countries accusing China of encroaching on their exclusive economic zones. Recent confrontations have included accusations from the Philippines that Chinese missile boats have pursued its vessels and targeted patrolling aircraft with lasers near Half Moon Shoal. This follows a series of incidents involving collisions and aggressive tactics that have left Filipino sailors injured. Philippine President Ferdinand Marcos Jr. has called for urgent discussions on establishing a code of conduct for the South China Sea during regional summits, urging an end to what he describes as Beijing's intimidation tactics. Similarly, Vietnam’s foreign ministry has condemned China's actions against Vietnamese fishing boats. Richard Heydarian, a policy advisor and senior lecturer at the University of the Philippines, warns that these escalating tensions may soon provoke responses from other ASEAN nations. He stated, "It’s only a matter of time before more ASEAN nations voice their concerns." Despite these rising tensions, experts believe all parties have strong incentives to avoid escalating into full-scale conflict. Analysts suggest that China is employing "gray zone" tactics—coercive actions that fall short of open conflict but exceed standard diplomatic practices—to gradually assert its claims without provoking direct military confrontation. Abdulacob, a Southeast Asia fellow at Lowy Institute, cautioned that if China were to restrict navigation freedoms in these waters, it could lead to increased US involvement. However, he noted that currently all parties appear keen to avoid escalating tensions into military conflict. As this situation develops, it remains imperative for global stakeholders to monitor these tensions closely and seek diplomatic solutions to ensure the continued flow of trade through one of the world's most vital maritime corridors.

Global trade faces risk as tensions rise in South China Sea

Former President Donald Trump on Monday threatened John Deere with a 200 per cent tariff if the agricultural manufacturer moved production to factories in Mexico according to a report by CNBC. 

“They have announced a few days ago that they’re going to move a lot of their manufacturing business to Mexico,” the Republican nominee said at a policy roundtable in Smithton, Pennsylvania, hosted by the Protecting America Initiative.

“I’m just notifying John Deere right now: If you do that, we’re putting a 200 per cent tariff on everything that you want to sell into the United States,” said Trump, who has made tariffs a key focus of his campaign’s economic policy.

John Deere has announced that it plans to shift production of some of its models to Mexico, a move that has resulted in layoffs at facilities in Iowa.

Brief history of John Deere<o:p></o:p>

Deere &amp; Company, doing business as John Deere, is an American corporation that manufactures agricultural machinery, heavy equipment, forestry machinery, diesel engines, and drivetrains (axles, transmissions, gearboxes) used in heavy equipment and lawn care equipment. It also provides financial services and other related activities.

Deere &amp; Company is listed on the New York Stock Exchange under the symbol DE. Further, it has used various logos incorporating a leaping deer for over 155 years. It is headquartered in Moline, Illinois. It was ranked 84th in the 2022 Fortune 500 list of the largest United States corporations. Its tractor series includes D series, E series, Specialty Tractors, Super Heavy Duty Tractors, and JDLink.

Donald Trump continued with his criticism of the company<o:p></o:p>

“It’s hurting our farmers. It’s hurting our manufacturing,” Trump said Monday.

Reached by CNBC for comment, a John Deere spokesperson pointed out a page on its website titled “John Deere’s Commitment to US Manufacturing,” where it touts its investments in American factories and workers.

The page also said, “In order to position our US factories to undertake these highly value-additive activities it is sometimes necessary to move less complex operations, such as cab assembly, to other locations.”

Monday appeared to be the first time Trump had singled out John Deere. The former president’s comments appeared to be off the cuff, prompted only by the John Deere tractors that were set up as the backdrop of the event.

As of 6 pm ET, shares of Deere were down 1.7 per cent in after-hours trading. Trump made the threat shortly after the closing bell. The former president made similar threats Monday to automakers that manufacture cars in Mexico.

“We’re going to put big tariffs on those cars that are coming in here at 100[ per cent] to 200 per cent, and they’re no longer going to be competitive,” he said, “so you better stay in Michigan.”

Former President Donald Trump on Monday threatened John Deere with a 200 per cent tariff if the agricultural manufacturer moved production to factories in Mexico according to a report by CNBC.

Former President Donald Trump on Monday threatened John Deere with a 200 per cent tariff if the agricultural manufacturer moved production to factories in Mexico according to a report by CNBC. “They have announced a few days ago that they’re going to move a lot of their manufacturing business to Mexico,” the Republican nominee said at a policy roundtable in Smithton, Pennsylvania, hosted by the Protecting America Initiative. “I’m just notifying John Deere right now: If you do that, we’re putting a 200 per cent tariff on everything that you want to sell into the United States,” said Trump, who has made tariffs a key focus of his campaign’s economic policy. John Deere has announced that it plans to shift production of some of its models to Mexico, a move that has resulted in layoffs at facilities in Iowa. Brief history of John Deere Deere & Company, doing business as John Deere, is an American corporation that manufactures agricultural machinery, heavy equipment, forestry machinery, diesel engines, and drivetrains (axles, transmissions, gearboxes) used in heavy equipment and lawn care equipment. It also provides financial services and other related activities. Deere & Company is listed on the New York Stock Exchange under the symbol DE. Further, it has used various logos incorporating a leaping deer for over 155 years. It is headquartered in Moline, Illinois. It was ranked 84th in the 2022 Fortune 500 list of the largest United States corporations. Its tractor series includes D series, E series, Specialty Tractors, Super Heavy Duty Tractors, and JDLink. Donald Trump continued with his criticism of the company “It’s hurting our farmers. It’s hurting our manufacturing,” Trump said Monday. Reached by CNBC for comment, a John Deere spokesperson pointed out a page on its website titled “John Deere’s Commitment to US Manufacturing,” where it touts its investments in American factories and workers. The page also said, “In order to position our US factories to undertake these highly value-additive activities it is sometimes necessary to move less complex operations, such as cab assembly, to other locations.” Monday appeared to be the first time Trump had singled out John Deere. The former president’s comments appeared to be off the cuff, prompted only by the John Deere tractors that were set up as the backdrop of the event. As of 6 pm ET, shares of Deere were down 1.7 per cent in after-hours trading. Trump made the threat shortly after the closing bell. The former president made similar threats Monday to automakers that manufacture cars in Mexico. “We’re going to put big tariffs on those cars that are coming in here at 100[ per cent] to 200 per cent, and they’re no longer going to be competitive,” he said, “so you better stay in Michigan.”

Donald Trump warns: ‘200% tariff’ if John Deere shifts production to Mexico

China's exports are booming, surging 7.6 per cent in May despite rising trade tensions with the EU and US.

Flood of appliances, cars, and electronics are fuelling this trend. However, delving deeper into this reveals a concerning trend. Weak domestic demand is pushing the country to export excess production. This 'overcapacity' is a big cause of concern with EU recently taxing Chinese EVs up to 38 per cent.

China's trade surplus is also fuelling concerns over potential global imbalance. Major emerging economies are experiencing inflation and demand slowdown. Such influx of cheap Chinese goods can disrupt domestic markets and accelerate deflation fears across the globe.&nbsp;

The US Tariffs aimed at curbing Chinese exports appear to be having minimal impact, at least for now. This is because major Chinese companies are eyeing emerging markets to dump excess goods and avoid future tariffs.&nbsp;This is evident in the significant rise in exports to Vietnam and Mexico. Infact, China's export to ASEAN countries surged ahead of its US exports in 2023.&nbsp;

Meanwhile, the US Trade deficit is widening, reaching $74.6 billion in April.&nbsp;This could shave off nearly a percentage point from US Economic growth.&nbsp;

This trade war is prompting a global reshuffle. Southeast Asia has emerged as a major winner or a 'dumping ground'. Vietnam is experiencing a trade boom, with exports to China surging 24.4 percent. Vietnam exports to US have also&nbsp;surged exponentially, raising doubts over effectiveness of tariffs, since China is the major exporter to Vietnam. China is also increasingly using Mexico as an export hub to bypass US tariffs.&nbsp;

China's exports are booming, surging 7.6 per cent in May despite rising trade tensions with the EU and US. Flood of appliances, cars, and electronics are fuelling this trend.

China's exports are booming, surging 7.6 per cent in May despite rising trade tensions with the EU and US. Flood of appliances, cars, and electronics are fuelling this trend. However, delving deeper into this reveals a concerning trend. Weak domestic demand is pushing the country to export excess production. This 'overcapacity' is a big cause of concern with EU recently taxing Chinese EVs up to 38 per cent. China's trade surplus is also fuelling concerns over potential global imbalance. Major emerging economies are experiencing inflation and demand slowdown. Such influx of cheap Chinese goods can disrupt domestic markets and accelerate deflation fears across the globe. The US Tariffs aimed at curbing Chinese exports appear to be having minimal impact, at least for now. This is because major Chinese companies are eyeing emerging markets to dump excess goods and avoid future tariffs. This is evident in the significant rise in exports to Vietnam and Mexico. Infact, China's export to ASEAN countries surged ahead of its US exports in 2023. Meanwhile, the US Trade deficit is widening, reaching $74.6 billion in April. This could shave off nearly a percentage point from US Economic growth. This trade war is prompting a global reshuffle. Southeast Asia has emerged as a major winner or a 'dumping ground'. Vietnam is experiencing a trade boom, with exports to China surging 24.4 percent. Vietnam exports to US have also surged exponentially, raising doubts over effectiveness of tariffs, since China is the major exporter to Vietnam. China is also increasingly using Mexico as an export hub to bypass US tariffs.

China's export boom threatens global trade balance

China's outsized role in world trade is alarming global finance chiefs. They are poised to forge a united front for their nations to challenge "Harmful practices" in global trade. Here's more on that.

G7 draft raises alarm at 'harmful' trade

The International Monetary Fund (IMF) has voiced concerns over the Biden administration's decision to raise tariffs on certain Chinese goods. The IMF spokesperson emphasised the importance of maintaining open trade policies for the US.

Biden's tariff move risks global trade & growth, says IMF

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