Trump’s aggressive tariff policies have pushed China into a trade war it may not be able to afford — and certainly cannot win. Beneath the surface of Beijing’s 5% growth claim lies a much darker picture: surging debt, deflation, and economic stagnation.

China's economic crisis: House prices continue to decline | Weak economy amid SCO summit

Indian exporters are increasingly looking to leverage their manufacturing bases in Africa to bypass steep U.S. tariffs imposed by the Trump administration. The move could help preserve trade volumes while deepening India-Africa economic ties amid shifting global trade dynamics.

India-Africa trade ties: Exporters to use their factories in Africa to shield from Trump tariffs

Continuing with US President Donald Trump's tariff war, the United States on Thursday (Aug 28) has officially ended the long-standing “de minimis” exemption, which previously let foreign parcels worth under $800 enter the country without duties. From August 29, 2025, every incoming shipment will now attract tariffs. To smooth the transition, Washington has introduced a six-month arrangement. Instead of value-based tariffs, parcels will be charged a flat fee of $80 to $200 depending on the origin country. Once this period ends, the regular duty system will fully apply to all packages.&nbsp;According to US officials, the change is designed to stop the misuse of low-value shipments, which were frequently used to sneak in fentanyl and counterfeit goods. The administration also expects the move to generate more customs revenue. Several foreign postal operators—including those in India, Australia, and parts of Europe—have temporarily suspended or scaled back deliveries to the U.S. They argue that the sudden shift has created uncertainty in customs clearance and increased costs for carriers.&nbsp;Read More | <a href="https://www.wionews.com/business-economy/donald-trump-s-tariff-on-india-in-numbers-which-sectors-are-hardest-hit-which-are-exempt-1756278240521">Donald Trump's tariff on India in numbers: Which sectors are hardest hit, which are exempt</a><h2>What this means for US markets</h2>For American buyers, the new rules could mean higher online shopping costs and slower deliveries, especially for products sourced from overseas sellers. Analysts caution that some international sellers might even cut back on serving the U.S. market altogether. For consumers, the immediate impact may be felt in the form of higher prices. Smaller sellers, especially those operating through platforms like Etsy, eBay, and Shopify, are unlikely to absorb the additional costs imposed by tariffs, stricter customs compliance, or shipping surcharges. Instead, many are expected to pass those expenses directly onto their customers. As a result, bargain hunting online — particularly for handmade, niche, or imported products — could become more expensive.<a href="https://www.wionews.com/videos/trump-s-tariffs-on-india-rupee-falls-despite-a-weakening-dollar-1756368850523/embed">https://www.wionews.com/videos/trump-s-tariffs-on-india-rupee-falls-despite-a-weakening-dollar-1756368850523/embed</a>Read More | <a href="https://www.wionews.com/business-economy/maruti-suzuki-india-chairman-backs-centre-over-trump-tariff-don-t-give-in-to-1756371188757">Maruti Suzuki India chairman backs Centre over Trump tariff: 'Don't give in to...'</a><h2>India-US trade war</h2>On July 31, US President Donald Trump reinstated and expanded tariffs on several trading partners, citing a continuing national emergency. Initially paused on April 2 to allow a 90-day window for trade negotiations, the tariffs were reimposed after little progress. As part of the revised policy, a 25 per cent tariff was slapped on Indian goods. Additionally, Trump introduced another 25 per cent &nbsp;tariff specifically targeting India for its ongoing purchases of Russian oil, taking the total tariff impact on Indian exports to 50 per cent. He also warned other nations of similar action if they continued energy deals with Moscow.&nbsp;Read More |&nbsp;<a href="https://www.wionews.com/business-economy/here-s-what-india-can-do-to-counter-donald-trump-s-tariffs-1756284737233">Here's what India can do to counter Donald Trump's tariffs</a>&nbsp;In response, Indian Prime Minister Narendra Modi reaffirmed his administration's dedication to protecting the interests of farmers and small businesses. Delivering a strong message promoting economic self-reliance, Modi encouraged shop owners to proudly display signs indicating they sell only indigenous ('swadeshi') products. He urged citizens to support Indian-made goods during the festive season, underlining that national interests would not be compromised. In Japan currently, PM Modi has again urged Indians to focus on ‘swadeshi’.&nbsp;

The US has scrapped the $800 “de minimis” duty-free threshold for foreign parcels, imposing tariffs on all imports from August 29. A six-month flat fee system will ease the shift. The move targets smuggling and counterfeits but has disrupted global postal services and raised shipping costs.

Continuing with US President Donald Trump's tariff war, the United States on Thursday (Aug 28) has officially ended the long-standing “de minimis” exemption, which previously let foreign parcels worth under $800 enter the country without duties. From August 29, 2025, every incoming shipment will now attract tariffs. To smooth the transition, Washington has introduced a six-month arrangement. Instead of value-based tariffs, parcels will be charged a flat fee of $80 to $200 depending on the origin country. Once this period ends, the regular duty system will fully apply to all packages. According to US officials, the change is designed to stop the misuse of low-value shipments, which were frequently used to sneak in fentanyl and counterfeit goods. The administration also expects the move to generate more customs revenue. Several foreign postal operators—including those in India, Australia, and parts of Europe—have temporarily suspended or scaled back deliveries to the U.S. They argue that the sudden shift has created uncertainty in customs clearance and increased costs for carriers. Read More | Donald Trump's tariff on India in numbers: Which sectors are hardest hit, which are exempt What this means for US markets For American buyers, the new rules could mean higher online shopping costs and slower deliveries, especially for products sourced from overseas sellers. Analysts caution that some international sellers might even cut back on serving the U.S. market altogether. For consumers, the immediate impact may be felt in the form of higher prices. Smaller sellers, especially those operating through platforms like Etsy, eBay, and Shopify, are unlikely to absorb the additional costs imposed by tariffs, stricter customs compliance, or shipping surcharges. Instead, many are expected to pass those expenses directly onto their customers. As a result, bargain hunting online — particularly for handmade, niche, or imported products — could become more expensive. https://www.wionews.com/videos/trump-s-tariffs-on-india-rupee-falls-despite-a-weakening-dollar-1756368850523/embed Read More | Maruti Suzuki India chairman backs Centre over Trump tariff: 'Don't give in to...' India-US trade war On July 31, US President Donald Trump reinstated and expanded tariffs on several trading partners, citing a continuing national emergency. Initially paused on April 2 to allow a 90-day window for trade negotiations, the tariffs were reimposed after little progress. As part of the revised policy, a 25 per cent tariff was slapped on Indian goods. Additionally, Trump introduced another 25 per cent tariff specifically targeting India for its ongoing purchases of Russian oil, taking the total tariff impact on Indian exports to 50 per cent. He also warned other nations of similar action if they continued energy deals with Moscow. Read More | Here's what India can do to counter Donald Trump's tariffs In response, Indian Prime Minister Narendra Modi reaffirmed his administration's dedication to protecting the interests of farmers and small businesses. Delivering a strong message promoting economic self-reliance, Modi encouraged shop owners to proudly display signs indicating they sell only indigenous ('swadeshi') products. He urged citizens to support Indian-made goods during the festive season, underlining that national interests would not be compromised. In Japan currently, PM Modi has again urged Indians to focus on ‘swadeshi’.

The US has scrapped the $800 “de minimis” duty-free threshold for foreign parcels, imposing tariffs on all imports from August 29. A six-month flat fee system will ease the shift. The move targets smuggling and counterfeits but has disrupted global postal services and raised shipping costs.

Trump tariff war escalates with end of 'de minimis' exemption — What is it and how will it hit US online buyers?

Australia and India are strengthening trade cooperation as U.S. tariffs under Donald Trump’s policies push countries to diversify their economic partnerships. With shared interests in defense, technology, and critical minerals, both nations are expanding bilateral trade ties, aiming to reduce dependency on Western markets and build resilient regional supply chains.

India-Australia trade on the cusp of 'golden era' | Australian trade Minister Criticizes Trump's tariffs 

China’s exports to Africa are booming as U.S. tariffs drive African nations to look elsewhere. With countries like Nigeria, South Africa, and Egypt leading the charge, Chinese products — especially construction machinery — have seen massive growth. In just the first seven months of the year, construction equipment exports surged 63% year-on-year, highlighting China’s deepening trade ties with the continent amid shifting global economic dynamics.

Trump's tariffs push China to African markets 

The Indian Embassy in Washington DC has hired a second lobbying firm to provide strategic communications services including federal lobbying, media relations, digital audit, social media strategy and advertising just days ahead of the double whammy 50 per cent tariff on Indian exports to US.

India’s new inner circle in Washington as Trump tariff looms large

Major disruption ahead! India will suspend all postal services to the United States starting August 25, in response to sweeping new U.S. customs rules and tariff hikes announced by President Donald Trump.

Following Executive Order No. 14324, the U.S. has withdrawn the $800 duty-free exemption and slapped a 50% total tariff on Indian goods, including a penalty for Russian oil imports. As a result, the Indian Department of Posts has halted deliveries to the U.S., citing the unfeasibility of the new tariff structure.

India suspends postal services to U.S. after Trump’s 50% tariff shock

United States Treasury Secretary Scott Bessent has defended US action against India and explained why US President Donald Trump imposed tariffs on New Delhi and not Beijing, despite China doing trade with Russia. In an interview, Bessent said that China’s increase in Russian oil imports from 13 per cent to 16 per cent is modest and reflects diversification, while India’s rise from less than 1 per cent to about 42 per cent is seen as profiteering. Bessent criticised India for making $16 billion in excess profits by buying cheap Russian oil and reselling it during the war, calling this practice the "Indian arbitrage" and labelling it unacceptable. His response came a day after White House trade adviser Peter Navarro doubled down on his attack on New Delhi for purchasing Russian oil and has criticised New Delhi for cosying up to China and Russia.&nbsp;Read More | <a href="https://www.wionews.com/world/trump-says-ukraine-peace-deal-would-get-him-to-heaven-yes-you-read-it-right-1755641955305">Trump says Ukraine peace deal would get him to HEAVEN- yes, you read it right</a>&nbsp;“China importing Russian oil is sub-optimal. But if you go back and look, before the 2022 invasion, 13% of China’s oil was already coming from Russia and now it’s 16%. So China has a diversified input of their oil. If you go back and look back, India had less than 1% of their oil (coming from Russia) and now it’s up to, I believe, 42%. So India is just profiteering,” Bessent said. Earlier on Wednesday, Navarro also claimed that India's crude oil imports from Russia after 2022 was not for meeting domestic consumption and that Indian refiners for “profiteering” by purchasing Russian discounted oil and exporting the processed petroleum products to Europe, Africa and Asia. Meanwhile, Bessent noted that the current situation with China is stable, as the two largest economies have recently agreed to extend a pause in their ongoing trade conflict over tariffs.&nbsp;<a href="https://www.wionews.com/videos/breaking-india-china-agree-on-new-steps-for-boundary-talks-in-a-boost-to-bilateral-ties-wion-1755629027363/embed">https://www.wionews.com/videos/breaking-india-china-agree-on-new-steps-for-boundary-talks-in-a-boost-to-bilateral-ties-wion-1755629027363/embed</a>&nbsp;Read More | <a href="https://www.wionews.com/world/trump-pushes-zelensky-putin-for-one-on-one-peace-talks-says-it-ll-be-better-but-will-he-crash-the-meeting-1755656335352">Trump says 'better' if Zelensky-Putin talks happen one-on-one, without him — but will he crash the meeting?</a><h2>Trump's trade war and India's response</h2>On July 31, President Trump imposed modified tariffs, including a 25% tariff on India, citing a national emergency. This followed a pause on earlier tariffs, which allowed countries 90 days to negotiate trade deals with the US. Trump added another 25% tariff on India specifically for buying Russian oil and warned other nations against similar actions. In response, India’s Ministry of External Affairs stated on August 4 that its energy imports are essential to ensure affordable prices amid global market conditions. The ministry criticised other countries for trading with Russia while unfairly targeting India. Indian Prime Minister Narendra Modi responded firmly, emphasising he would not compromise the interests of farmers, dairy farmers, and fishermen, even at a cost. During his Independence Day speech on August 15, Modi reaffirmed his commitment to protecting India’s agricultural community, declaring he would stand resolutely against any move harming them.&nbsp;Read More | <a href="https://www.wionews.com/world/why-trump-imposed-tariffs-on-india-citing-russian-oil-purchase-press-secretary-leavitt-reveals-real-reason-1755664123235">Why Trump imposed tariffs on India citing Russian oil purchase? Press Secretary Leavitt reveals REAL reason</a>&nbsp;

US Treasury Secretary Bessent defended tariffs on India, citing India’s rise in Russian oil imports from under 1 per cent to 42 per cent as profiteering, unlike China’s modest increase. This comes after White House trade adviser Peter Navarro slammed India on the same issue

United States Treasury Secretary Scott Bessent has defended US action against India and explained why US President Donald Trump imposed tariffs on New Delhi and not Beijing, despite China doing trade with Russia. In an interview, Bessent said that China’s increase in Russian oil imports from 13 per cent to 16 per cent is modest and reflects diversification, while India’s rise from less than 1 per cent to about 42 per cent is seen as profiteering. Bessent criticised India for making $16 billion in excess profits by buying cheap Russian oil and reselling it during the war, calling this practice the "Indian arbitrage" and labelling it unacceptable. His response came a day after White House trade adviser Peter Navarro doubled down on his attack on New Delhi for purchasing Russian oil and has criticised New Delhi for cosying up to China and Russia. Read More | Trump says Ukraine peace deal would get him to HEAVEN- yes, you read it right “China importing Russian oil is sub-optimal. But if you go back and look, before the 2022 invasion, 13% of China’s oil was already coming from Russia and now it’s 16%. So China has a diversified input of their oil. If you go back and look back, India had less than 1% of their oil (coming from Russia) and now it’s up to, I believe, 42%. So India is just profiteering,” Bessent said. Earlier on Wednesday, Navarro also claimed that India's crude oil imports from Russia after 2022 was not for meeting domestic consumption and that Indian refiners for “profiteering” by purchasing Russian discounted oil and exporting the processed petroleum products to Europe, Africa and Asia. Meanwhile, Bessent noted that the current situation with China is stable, as the two largest economies have recently agreed to extend a pause in their ongoing trade conflict over tariffs. https://www.wionews.com/videos/breaking-india-china-agree-on-new-steps-for-boundary-talks-in-a-boost-to-bilateral-ties-wion-1755629027363/embed Read More | Trump says 'better' if Zelensky-Putin talks happen one-on-one, without him — but will he crash the meeting? Trump's trade war and India's response On July 31, President Trump imposed modified tariffs, including a 25% tariff on India, citing a national emergency. This followed a pause on earlier tariffs, which allowed countries 90 days to negotiate trade deals with the US. Trump added another 25% tariff on India specifically for buying Russian oil and warned other nations against similar actions. In response, India’s Ministry of External Affairs stated on August 4 that its energy imports are essential to ensure affordable prices amid global market conditions. The ministry criticised other countries for trading with Russia while unfairly targeting India. Indian Prime Minister Narendra Modi responded firmly, emphasising he would not compromise the interests of farmers, dairy farmers, and fishermen, even at a cost. During his Independence Day speech on August 15, Modi reaffirmed his commitment to protecting India’s agricultural community, declaring he would stand resolutely against any move harming them. Read More | Why Trump imposed tariffs on India citing Russian oil purchase? Press Secretary Leavitt reveals REAL reason

US Treasury Secretary Bessent defended tariffs on India, citing India’s rise in Russian oil imports from under 1 per cent to 42 per cent as profiteering, unlike China’s modest increase. This comes after White House trade adviser Peter Navarro slammed India on the same issue

Why US imposed tariffs on India and not China? Trump's Treasury Secretary explains

US retailers are warning of fewer fake Christmas trees and higher prices this holiday season, as tariffs on Chinese imports weigh on supply chains and consumer demand. According to a Reuters report, a last-minute reprieve from Washington and Beijing on August 11, granting a 90-day delay in tariff hikes has done little to ease concerns. Most retailers had already placed their seasonal orders months in advance, leaving limited room to restock shelves with fresh inventory.<h2>Retailers cut back orders</h2>Chris Butler, CEO of National Tree Company, which supplies Walmart, Home Depot, Lowe’s and Amazon, said this year’s market will see “lower supply.” His company sources around half of its trees from China, and the rest from Vietnam, Cambodia, and Thailand.&nbsp;Butler confirmed that prices on popular models, including Carolina pine, Nordic spruce, and Dunhill fir will rise between 10 to 20 per cent. Retailers, he added, are pushing companies like his to ship directly to customers, cutting back on bulk inventory purchases to reduce financial risk.<h2>China’s dominance in Christmas décor</h2>China remains the global hub for festive goods, supplying 87 per cent of US Christmas decoration imports last year, worth roughly $4 billion, according to United States International Trade Commission data cited by Reuters.&nbsp;But after US President Donald Trump first raised tariffs to 145 per cent in April before scaling them back to 30 per cent in May, retailers have been hesitant to commit to large orders at volatile price points.Mac Harman, CEO of California-based Balsam Hill, expects 15 per cent fewer trees in the market this season. “Even with the extended 90 days, it’s too late for any of us to add orders,” he told Reuters.&nbsp;Still, the pause has helped his company save around $2.5 million, underscoring how unpredictable tariff policy has become for businesses.<h2>Holiday budgets under strain</h2>The cutback in artificial trees highlights what may be a muted shopping season overall. American households are already squeezed by higher prices on essentials such as diapers, soap, and clothing.Levi Strauss recently announced it would scale back its holiday offerings, while toy makers are also feeling the pinch. Isaac Larian, CEO of MGA Entertainment maker of Bratz dolls said that even a 30 per cent tariff on toys is “still too much,” forcing the company to raise prices.<h2>Limited gains from the delay</h2>Experts caution that the 90-day delay will only help goods shipped by air. Chris Rogers of S&amp;P Global Market Intelligence noted that companies like Apple set for new product launches stand to benefit, but most retailers have already locked in their festive inventories.&nbsp;Some brands attempted to rush extra orders after the moratorium was announced, but shifting supply chains is proving complex. Dave Tu, president of DCL Logistics, which handles distribution for brands like GoPro, said that many firms that diversified away from China are now facing bottlenecks and delays as new manufacturers struggle to scale up.<h2>A muted Christmas ahead</h2>Industry groups believe that, for most retailers, this season’s inventory is already fixed. Matt Priest, CEO of the Footwear Distributors and Retailers of America, summed it up bluntly: “Holiday inventory is what it is.”&nbsp;Despite the reprieve, American shoppers can expect fewer fake firs and higher price tags, making this festive season a test of both retailers’ resilience and household budgets.&nbsp;(With inputs from the agencies)&nbsp;

With households already squeezed by higher costs on essentials and toys also set to get pricier, this year’s holiday season may see muted shopping and tighter budgets.

US retailers are warning of fewer fake Christmas trees and higher prices this holiday season, as tariffs on Chinese imports weigh on supply chains and consumer demand. According to a Reuters report, a last-minute reprieve from Washington and Beijing on August 11, granting a 90-day delay in tariff hikes has done little to ease concerns. Most retailers had already placed their seasonal orders months in advance, leaving limited room to restock shelves with fresh inventory. Retailers cut back orders Chris Butler, CEO of National Tree Company, which supplies Walmart, Home Depot, Lowe’s and Amazon, said this year’s market will see “lower supply.” His company sources around half of its trees from China, and the rest from Vietnam, Cambodia, and Thailand. Butler confirmed that prices on popular models, including Carolina pine, Nordic spruce, and Dunhill fir will rise between 10 to 20 per cent. Retailers, he added, are pushing companies like his to ship directly to customers, cutting back on bulk inventory purchases to reduce financial risk. China’s dominance in Christmas décor China remains the global hub for festive goods, supplying 87 per cent of US Christmas decoration imports last year, worth roughly $4 billion, according to United States International Trade Commission data cited by Reuters. But after US President Donald Trump first raised tariffs to 145 per cent in April before scaling them back to 30 per cent in May, retailers have been hesitant to commit to large orders at volatile price points. Mac Harman, CEO of California-based Balsam Hill, expects 15 per cent fewer trees in the market this season. “Even with the extended 90 days, it’s too late for any of us to add orders,” he told Reuters. Still, the pause has helped his company save around $2.5 million, underscoring how unpredictable tariff policy has become for businesses. Holiday budgets under strain The cutback in artificial trees highlights what may be a muted shopping season overall. American households are already squeezed by higher prices on essentials such as diapers, soap, and clothing. Levi Strauss recently announced it would scale back its holiday offerings, while toy makers are also feeling the pinch. Isaac Larian, CEO of MGA Entertainment maker of Bratz dolls said that even a 30 per cent tariff on toys is “still too much,” forcing the company to raise prices. Limited gains from the delay Experts caution that the 90-day delay will only help goods shipped by air. Chris Rogers of S&P Global Market Intelligence noted that companies like Apple set for new product launches stand to benefit, but most retailers have already locked in their festive inventories. Some brands attempted to rush extra orders after the moratorium was announced, but shifting supply chains is proving complex. Dave Tu, president of DCL Logistics, which handles distribution for brands like GoPro, said that many firms that diversified away from China are now facing bottlenecks and delays as new manufacturers struggle to scale up. A muted Christmas ahead Industry groups believe that, for most retailers, this season’s inventory is already fixed. Matt Priest, CEO of the Footwear Distributors and Retailers of America, summed it up bluntly: “Holiday inventory is what it is.” Despite the reprieve, American shoppers can expect fewer fake firs and higher price tags, making this festive season a test of both retailers’ resilience and household budgets. (With inputs from the agencies)

US retailers are bracing for fewer artificial Christmas trees and steeper prices this holiday season, despite Washington and Beijing granting a 90-day delay in tariff hikes, Reuters reported.&nbsp;

China tariff delay fails to save US Christmas shopping season

A fleet of Russian liquefied natural gas (LNG) tankers has set sail for Asia from a US-sanctioned Arctic facility, raising questions over how far Washington will go in enforcing its restrictions while pushing for a peace deal in Ukraine. According to Bloomberg, ship-tracking data shows that at least four LNG vessels have departed from the Arctic LNG 2 project in Siberia, operated by Novatek PJSC. Two of these ships, the Iris and the Voskhod began their journey towards North Asia via the Northern Sea Route on August 15 after being idle for weeks. Two other tankers also left the sanctioned terminal last week.<h2>Arctic LNG 2: Russia’s strategic energy pivot</h2>The Arctic LNG 2 plant is central to Moscow’s ambition of tripling LNG exports by 2030, as it seeks new markets following the collapse of pipeline sales to Europe. The project, sanctioned by the Biden administration in 2023, was forced to halt exports last October due to a lack of buyers and seasonal ice buildup.&nbsp;Bloomberg reports that the plant resumed loading cargoes in June this year, but so far none of the shipments have been received at an import terminal. The four vessels currently sailing may test Asian demand, though it remains uncertain whether they will secure buyers.&nbsp;Industry observers note that Russia has marshalled a “shadow fleet” of about a dozen ships, some specially equipped for icy waters, to move LNG from the Arctic facility. Several of these tankers have switched management companies multiple times, a strategy aimed at concealing ultimate ownership and avoiding sanctions scrutiny.<h2>Geopolitics clouds energy flows</h2>The renewed activity comes at a delicate moment in international diplomacy. US President Donald Trump met Russian President Vladimir Putin in Alaska last week, describing the talks as “extremely productive.” Trump has so far held back from tightening sanctions on countries buying Russian energy, including China, as Washington seeks to push forward ceasefire negotiations with Ukraine.&nbsp;This calibrated approach means Russian LNG continues to move, albeit cautiously through grey market channels. Asian buyers, especially in China and India, may be tempted by discounted cargoes, though the risk of secondary sanctions remains a looming deterrent.<h2>What it means for global gas markets?</h2>The Arctic LNG 2 shipments underline how energy trade remains a powerful lever in the Ukraine conflict. If the tankers manage to unload in Asia, Moscow will see it as a victory in diversifying away from&nbsp;&nbsp;European dependence. But if buyers hesitate, it could expose the limitations of Russia’s strategy.Either way, the voyages place Washington in a difficult spot, caught between enforcing sanctions strictly and leaving room for diplomacy in its push for a peace deal.&nbsp;(With inputs from the agencies)&nbsp;&nbsp;

At least four Russian LNG tankers have departed the US-sanctioned Arctic LNG 2 project in Siberia, marking Moscow’s latest attempt to tap Asian demand amid the Ukraine conflict. 

A fleet of Russian liquefied natural gas (LNG) tankers has set sail for Asia from a US-sanctioned Arctic facility, raising questions over how far Washington will go in enforcing its restrictions while pushing for a peace deal in Ukraine. According to Bloomberg, ship-tracking data shows that at least four LNG vessels have departed from the Arctic LNG 2 project in Siberia, operated by Novatek PJSC. Two of these ships, the Iris and the Voskhod began their journey towards North Asia via the Northern Sea Route on August 15 after being idle for weeks. Two other tankers also left the sanctioned terminal last week. Arctic LNG 2: Russia’s strategic energy pivot The Arctic LNG 2 plant is central to Moscow’s ambition of tripling LNG exports by 2030, as it seeks new markets following the collapse of pipeline sales to Europe. The project, sanctioned by the Biden administration in 2023, was forced to halt exports last October due to a lack of buyers and seasonal ice buildup. Bloomberg reports that the plant resumed loading cargoes in June this year, but so far none of the shipments have been received at an import terminal. The four vessels currently sailing may test Asian demand, though it remains uncertain whether they will secure buyers. Industry observers note that Russia has marshalled a “shadow fleet” of about a dozen ships, some specially equipped for icy waters, to move LNG from the Arctic facility. Several of these tankers have switched management companies multiple times, a strategy aimed at concealing ultimate ownership and avoiding sanctions scrutiny. Geopolitics clouds energy flows The renewed activity comes at a delicate moment in international diplomacy. US President Donald Trump met Russian President Vladimir Putin in Alaska last week, describing the talks as “extremely productive.” Trump has so far held back from tightening sanctions on countries buying Russian energy, including China, as Washington seeks to push forward ceasefire negotiations with Ukraine. This calibrated approach means Russian LNG continues to move, albeit cautiously through grey market channels. Asian buyers, especially in China and India, may be tempted by discounted cargoes, though the risk of secondary sanctions remains a looming deterrent. What it means for global gas markets? The Arctic LNG 2 shipments underline how energy trade remains a powerful lever in the Ukraine conflict. If the tankers manage to unload in Asia, Moscow will see it as a victory in diversifying away from European dependence. But if buyers hesitate, it could expose the limitations of Russia’s strategy. Either way, the voyages place Washington in a difficult spot, caught between enforcing sanctions strictly and leaving room for diplomacy in its push for a peace deal. (With inputs from the agencies)

Russian Arctic LNG tankers head for Asia, testing US sanctions and global gas markets.

US-sanctioned Russian LNG tankers head to Asia amid Ukraine peace talks

A planned round of US-India trade talks scheduled for August 25–29 in New Delhi has been called off, according to a PTI report citing a source with direct knowledge. The development delays negotiations on a proposed bilateral trade agreement and dims hopes of relief from fresh US tariffs set to hit Indian exports later this month.<h2>What happened?</h2>The meetings were expected to bring negotiators from the United States Trade Representative (USTR) to New Delhi for discussions on reducing trade frictions. But the visit has now been scrapped, PTI reported, with the next round of talks yet to be rescheduled.&nbsp;The US embassy in New Delhi said it had no additional information on the matter, while India’s Commerce Ministry did not immediately respond to a Reuters request for comment.<h2>What did the US do?&nbsp;</h2>Earlier this month, US President Donald Trump imposed an additional 25 per cent tariff on Indian goods, citing India’s continued imports of Russian oil. The new duties, coming into effect on August 27, will raise tariffs on some Indian exports to as high as 50 per cent, among the steepest levies imposed on any US trading partner.&nbsp;Washington’s move escalated trade tensions sharply, with New Delhi accusing the US of unfairly targeting it while Europe and America themselves continue to buy Russian products, as India’s Foreign Ministry has repeatedly pointed out.<h2>Why the talks collapsed?</h2>Trade negotiations between the two sides have already faced turbulence. According to Reuters, five previous rounds ended without progress, largely over Washington’s demands to open India’s farm and dairy markets and to curb purchases of Russian oil.&nbsp;The collapse of the August round leaves businesses and policymakers bracing for a more protracted standoff. As per PTI, the delay not only pushes back hopes of a trade pact but also means Indian exporters will soon face higher tariffs without clarity on when talks might resume.<h2>What this means?</h2>With tariffs of up to 50 per cent looming, Indian exporters could see reduced competitiveness in the US market, especially in labour-intensive sectors like textiles, engineering goods and some agricultural products. For Washington, the stalled talks underline the difficulty of balancing its Russia containment strategy with its need to strengthen ties with India, a key partner in the Indo-Pacific.&nbsp;(With inputs from the agencies)&nbsp;

The standoff highlights the challenge for Washington in balancing its Russia containment strategy with its broader Indo-Pacific partnership goals.

A planned round of US-India trade talks scheduled for August 25–29 in New Delhi has been called off, according to a PTI report citing a source with direct knowledge. The development delays negotiations on a proposed bilateral trade agreement and dims hopes of relief from fresh US tariffs set to hit Indian exports later this month. What happened? The meetings were expected to bring negotiators from the United States Trade Representative (USTR) to New Delhi for discussions on reducing trade frictions. But the visit has now been scrapped, PTI reported, with the next round of talks yet to be rescheduled. The US embassy in New Delhi said it had no additional information on the matter, while India’s Commerce Ministry did not immediately respond to a Reuters request for comment. What did the US do? Earlier this month, US President Donald Trump imposed an additional 25 per cent tariff on Indian goods, citing India’s continued imports of Russian oil. The new duties, coming into effect on August 27, will raise tariffs on some Indian exports to as high as 50 per cent, among the steepest levies imposed on any US trading partner. Washington’s move escalated trade tensions sharply, with New Delhi accusing the US of unfairly targeting it while Europe and America themselves continue to buy Russian products, as India’s Foreign Ministry has repeatedly pointed out. Why the talks collapsed? Trade negotiations between the two sides have already faced turbulence. According to Reuters, five previous rounds ended without progress, largely over Washington’s demands to open India’s farm and dairy markets and to curb purchases of Russian oil. The collapse of the August round leaves businesses and policymakers bracing for a more protracted standoff. As per PTI, the delay not only pushes back hopes of a trade pact but also means Indian exporters will soon face higher tariffs without clarity on when talks might resume. What this means? With tariffs of up to 50 per cent looming, Indian exporters could see reduced competitiveness in the US market, especially in labour-intensive sectors like textiles, engineering goods and some agricultural products. For Washington, the stalled talks underline the difficulty of balancing its Russia containment strategy with its need to strengthen ties with India, a key partner in the Indo-Pacific. (With inputs from the agencies)

A planned round of US-India trade talks scheduled for August 25–29 in New Delhi has been reportedly called off, delaying negotiations on a bilateral trade pact.

US-India trade talks from August 25 called off amid tariff tensions, says Reports

China’s $11 trillion stock market is once again in the spotlight, not for spectacular gains, but for persistent underperformance that is worrying both Beijing and Washington. As per Bloomberg, the Chinese equity market has failed to deliver returns for households, making it a key reason why consumers save more and spend less, a structural issue that complicates President Xi Jinping’s growth plans and President Donald Trump’s trade war strategy.<h2>What’s the problem with China’s stock market?</h2>Despite a recent rally, Chinese indexes have only just recovered to levels seen after the dramatic bubble burst a decade ago. A $10,000 investment in the S&amp;P 500 ten years ago would have more than tripled in value, while the same in China’s CSI 300 benchmark would have added only around $3,000.According to long-time China watchers quoted by Bloomberg, the problem is structural. When exchanges were set up 35 years ago, their primary purpose was to channel household savings into funding state-owned enterprises and infrastructure, rather than delivering returns to investors. That bias has left retail investors disappointed and skeptical.&nbsp;<h2>Why does this matter now?</h2>Xi Jinping is depending on household consumption to drive China’s economy toward its 5 per cent growth goal, especially amid intensifying tariff battles with the US. But a lack of faith in the stock market has pushed households toward saving instead of spending.&nbsp;China’s household savings rate is extraordinarily high at 35 per cent of disposable income, compared with much lower levels in the US, UK, and Japan. Without confidence in equities as a vehicle for wealth creation, consumers are unlikely to loosen their wallets.<h2>Investor sentiments</h2>“China’s capital market has long been a paradise for financiers and a hell for investors,” Liu Jipeng, a securities veteran, told Bloomberg.&nbsp;Many retail investors say they often lose money when chasing rallies. State-owned enterprises often prioritize government goals over shareholder returns, while private firms are accused of weak investor protection. IPO scandals and delistings, such as the case of Beijing Zuojiang Technology, have further eroded trust.<h2>Reforms and progress, but not enough</h2>Beijing has tried to improve oversight:<ul><li>IPO screening tightened — Poor-quality listings are being curbed.</li><li>Dividend payouts rising — In 2024, Shanghai and Shenzhen-listed firms distributed 2.4 trillion yuan ($334 billion) in cash dividends, up 9 per cent from the previous year.</li><li>Buybacks increasing — Though still far smaller than in&nbsp;US markets.</li></ul>Yet, reforms still tilt toward raising funds for companies, especially in high-tech sectors, rather than protecting small investors.<h2>Why is Xi pushing risky IPOs?</h2>With the US tightening controls on semiconductors and AI, China is accelerating funding for domestic tech champions. Regulators have resumed allowing unprofitable firms to list on Shanghai’s STAR board and Shenzhen’s ChiNext, echoing the Nasdaq model.&nbsp;So far this year, IPOs are up nearly 30 per cent from 2024, but analysts warn that fast-tracking weak companies without stronger safeguards risks worsening the trust deficit among retail investors.<h2>Why Trump cares too?</h2>For Donald Trump, the state of China’s equity market also matters. With tariffs piling pressure on Chinese exports, Xi is relying on domestic demand to offset external shocks. But if consumers keep saving instead of spending, China’s growth slows and the trade imbalance Trump is targeting becomes even harder to fix.&nbsp;As Bloomberg notes, China’s stock market has been decades in the making as a tool for financing growth, not enriching investors. While recent reforms have made progress, the fundamental bias remains. Without a deeper transformation that prioritizes investor returns, China risks keeping its households locked in a savings trap, with big consequences for both Xi’s growth goals and Trump’s trade war strategy.&nbsp;(With inputs from the agencies)&nbsp;

For Donald Trump, China weak stock market also matters as it hampers Beijing ability to rebalance its economy and address the trade imbalances at the heart of his tariff strategy. 

China’s $11 trillion stock market is once again in the spotlight, not for spectacular gains, but for persistent underperformance that is worrying both Beijing and Washington. As per Bloomberg, the Chinese equity market has failed to deliver returns for households, making it a key reason why consumers save more and spend less, a structural issue that complicates President Xi Jinping’s growth plans and President Donald Trump’s trade war strategy. What’s the problem with China’s stock market? Despite a recent rally, Chinese indexes have only just recovered to levels seen after the dramatic bubble burst a decade ago. A $10,000 investment in the S&P 500 ten years ago would have more than tripled in value, while the same in China’s CSI 300 benchmark would have added only around $3,000. According to long-time China watchers quoted by Bloomberg, the problem is structural. When exchanges were set up 35 years ago, their primary purpose was to channel household savings into funding state-owned enterprises and infrastructure, rather than delivering returns to investors. That bias has left retail investors disappointed and skeptical. Why does this matter now? Xi Jinping is depending on household consumption to drive China’s economy toward its 5 per cent growth goal, especially amid intensifying tariff battles with the US. But a lack of faith in the stock market has pushed households toward saving instead of spending. China’s household savings rate is extraordinarily high at 35 per cent of disposable income, compared with much lower levels in the US, UK, and Japan. Without confidence in equities as a vehicle for wealth creation, consumers are unlikely to loosen their wallets. Investor sentiments “China’s capital market has long been a paradise for financiers and a hell for investors,” Liu Jipeng, a securities veteran, told Bloomberg. Many retail investors say they often lose money when chasing rallies. State-owned enterprises often prioritize government goals over shareholder returns, while private firms are accused of weak investor protection. IPO scandals and delistings, such as the case of Beijing Zuojiang Technology, have further eroded trust. Reforms and progress, but not enough Beijing has tried to improve oversight: IPO screening tightened — Poor-quality listings are being curbed. Dividend payouts rising — In 2024, Shanghai and Shenzhen-listed firms distributed 2.4 trillion yuan ($334 billion) in cash dividends, up 9 per cent from the previous year. Buybacks increasing — Though still far smaller than in US markets. Yet, reforms still tilt toward raising funds for companies, especially in high-tech sectors, rather than protecting small investors. Why is Xi pushing risky IPOs? With the US tightening controls on semiconductors and AI, China is accelerating funding for domestic tech champions. Regulators have resumed allowing unprofitable firms to list on Shanghai’s STAR board and Shenzhen’s ChiNext, echoing the Nasdaq model. So far this year, IPOs are up nearly 30 per cent from 2024, but analysts warn that fast-tracking weak companies without stronger safeguards risks worsening the trust deficit among retail investors. Why Trump cares too? For Donald Trump, the state of China’s equity market also matters. With tariffs piling pressure on Chinese exports, Xi is relying on domestic demand to offset external shocks. But if consumers keep saving instead of spending, China’s growth slows and the trade imbalance Trump is targeting becomes even harder to fix. As Bloomberg notes, China’s stock market has been decades in the making as a tool for financing growth, not enriching investors. While recent reforms have made progress, the fundamental bias remains. Without a deeper transformation that prioritizes investor returns, China risks keeping its households locked in a savings trap, with big consequences for both Xi’s growth goals and Trump’s trade war strategy. (With inputs from the agencies)

Despite reforms and a recent rally, China’s equity market has delivered meagre long-term returns compared to global peers, leaving households wary of investing

China’s $11 trillion stock market tests Xi’s growth push, Trump’s tariff gamble

The US Commerce Department has significantly expanded the scope of its 50% tariffs on steel and aluminium products, targeting hundreds of additional derivative items. According to a Federal Register notice on Friday, the Bureau of Industry and Security (BIS) added 407 new product codes to the Harmonised Tariff Schedule, bringing a surge of goods now subject to import duties tied to their steel and aluminium content. Effective August 18, these newly listed products will face the same hefty levies. While the metal portions of those items fall under the 50% tariff, non-metal components will continue to be taxed at regular rates based on their originating countries.&nbsp;<h2>A broader push under section 232</h2>This expansion builds on the Section 232 “inclusions” process, introduced by the Commerce Department in April to widen the breadth of existing steel and aluminium tariffs. That framework allowed for the inclusion of derivative articles into the tariff net, ensuring that items containing steel or aluminium couldn’t bypass duties.&nbsp;&nbsp;With this latest announcement, Washington is clearly doubling down on its protectionist strategy, tightening controls over a broader swath of downstream industrial goods.<h2>Political timing &amp; broader trade strategy</h2>The timing of this initiative aligns with President Trump’s active political calendar. Speaking aboard Air Force One en route to his summit in Alaska with Russian President Vladimir Putin, Trump hinted that further announcements, including new tariffs on semiconductor imports, are on the way.Reuters notes that this phased approach to tariffs, initially lower rates, escalating later, mirrors his method applied to pharmaceutical duties. It underscores a strategic push to incentivise domestic production by gradually raising the economic cost of imports.&nbsp;<h2>Sharpened fallout and market implications</h2>Economic and trade analysts warn that these expanded tariffs may ripple through global supply chains, pushing up costs across manufacturing industries. With new areas falling under steep tariffs, importers and intermediaries may be forced to recalibrate strategies, potentially favouring domestic suppliers or shifting sourcing routes.&nbsp;Moreover, this moves sits amid a longer pattern of aggressive tariff policies under Trump’s “America First” agenda. Earlier in 2025, tariffs on steel and aluminium were raised from 25% to 50%, and coverage was extended to appliances and derivative items.&nbsp;Simultaneously, reciprocal tariffs and sector-specific levies on copper, autos, and semiconductors are also being deployed, adding complexity to U.S. trade policy.<h2>What this means?&nbsp;</h2><ul><li>For businesses: Expect higher compliance costs as more products fall under tariff obligations. Strategic sourcing and supply chain adaptation will be critical.</li><li>For global trade: More tariff exposure may prompt slower trade flows, localised sourcing, or trade negotiations aimed at carve-outs.</li><li>For markets and consumers: Higher input costs could translate into elevated prices for consumers, especially in manufacturing-heavy sectors.</li></ul>The aim is clear: the administration is escalating pressure on foreign producers while encouraging domestic manufacturing seeding, now using a broader enforcement net.&nbsp;(With inputs from the agencies)

The tariff strategy coincides with President Trump political agenda, with additional announcements on semiconductor tariffs anticipated.

The US Commerce Department has significantly expanded the scope of its 50% tariffs on steel and aluminium products, targeting hundreds of additional derivative items. According to a Federal Register notice on Friday, the Bureau of Industry and Security (BIS) added 407 new product codes to the Harmonised Tariff Schedule, bringing a surge of goods now subject to import duties tied to their steel and aluminium content. Effective August 18, these newly listed products will face the same hefty levies. While the metal portions of those items fall under the 50% tariff, non-metal components will continue to be taxed at regular rates based on their originating countries. A broader push under section 232 This expansion builds on the Section 232 “inclusions” process, introduced by the Commerce Department in April to widen the breadth of existing steel and aluminium tariffs. That framework allowed for the inclusion of derivative articles into the tariff net, ensuring that items containing steel or aluminium couldn’t bypass duties. With this latest announcement, Washington is clearly doubling down on its protectionist strategy, tightening controls over a broader swath of downstream industrial goods. Political timing & broader trade strategy The timing of this initiative aligns with President Trump’s active political calendar. Speaking aboard Air Force One en route to his summit in Alaska with Russian President Vladimir Putin, Trump hinted that further announcements, including new tariffs on semiconductor imports, are on the way. Reuters notes that this phased approach to tariffs, initially lower rates, escalating later, mirrors his method applied to pharmaceutical duties. It underscores a strategic push to incentivise domestic production by gradually raising the economic cost of imports. Sharpened fallout and market implications Economic and trade analysts warn that these expanded tariffs may ripple through global supply chains, pushing up costs across manufacturing industries. With new areas falling under steep tariffs, importers and intermediaries may be forced to recalibrate strategies, potentially favouring domestic suppliers or shifting sourcing routes. Moreover, this moves sits amid a longer pattern of aggressive tariff policies under Trump’s “America First” agenda. Earlier in 2025, tariffs on steel and aluminium were raised from 25% to 50%, and coverage was extended to appliances and derivative items. Simultaneously, reciprocal tariffs and sector-specific levies on copper, autos, and semiconductors are also being deployed, adding complexity to U.S. trade policy. What this means? For businesses: Expect higher compliance costs as more products fall under tariff obligations. Strategic sourcing and supply chain adaptation will be critical. For global trade: More tariff exposure may prompt slower trade flows, localised sourcing, or trade negotiations aimed at carve-outs. For markets and consumers: Higher input costs could translate into elevated prices for consumers, especially in manufacturing-heavy sectors. The aim is clear: the administration is escalating pressure on foreign producers while encouraging domestic manufacturing seeding, now using a broader enforcement net. (With inputs from the agencies)

The US Commerce Department has expanded 50% tariffs on steel and aluminium to include 407 new derivative items effective August 18. This move follows the Section 232 inclusions process aimed at preventing circumvention of tariffs.

Trump administration broadens steel & ​aluminium tariffs to hundreds more goods

China’s steel and coal production fell in July, weighed down by extreme weather disruptions and Beijing’s renewed push to rein in excess capacity, according to Bloomberg. The slowdown comes as deflationary pressures intensify across the world’s second-largest economy. Official data cited by Bloomberg shows steel production dropped 4 per cent year-on-year to under 80 million tonne, the lowest monthly output in 2024 so far and the third straight monthly decline. Although the fall was less steep than in May and June, reduced supply helped improve profit margins for producers.&nbsp;Over the first seven months of the year, steel output was down 3.1 per cent compared with 2023, marking the weakest level since 2020. Analysts say the industry is grappling with weaker domestic demand, particularly from the struggling property sector, even as exports have risen to absorb some of the surplus. Bloomberg Intelligence estimates China’s excess steel capacity in 2023 at 142 million tonnes — nearly four times the level recorded in 2020.<h2>Coal sector sees rare drop in production</h2>Coal output fell 3.8 per cent year-on-year to just over 380 million tonnes in July — the first such decline in more than a year. Despite this, January-to-July production remained at record levels.&nbsp;Northern China’s coal hubs were hit hard by torrential rains, which forced mines to shut and disrupted transport links. At the same time, government inspections targeted mines exceeding permitted production limits, adding further pressure on supply.&nbsp;Thermal coal producers have been shielded from deeper cuts due to surging electricity demand amid summer heatwaves, but coking coal miners, critical suppliers to steelmakers face fewer protections as steel demand remains under strain.<h2>Policy and environmental pressures ahead</h2>As per Bloomberg, Beijing’s pollution controls ahead of next month’s military parade in the capital are expected to further limit steel output, with much of China’s steel capacity located near Beijing.&nbsp;While steel exports have helped offset weak domestic consumption, rising global protectionism could limit overseas sales in the coming months. With the property market slump stripping away one of the sector’s key demand pillars, the industry faces a challenging road ahead.&nbsp;(With inputs from the agencies)

Coal output fell 3.8% due to heavy rains and inspections. Analysts warn of weak domestic demand and rising protectionism affecting future exports as the property market struggles.

China’s steel and coal production fell in July, weighed down by extreme weather disruptions and Beijing’s renewed push to rein in excess capacity, according to Bloomberg. The slowdown comes as deflationary pressures intensify across the world’s second-largest economy. Official data cited by Bloomberg shows steel production dropped 4 per cent year-on-year to under 80 million tonne, the lowest monthly output in 2024 so far and the third straight monthly decline. Although the fall was less steep than in May and June, reduced supply helped improve profit margins for producers. Over the first seven months of the year, steel output was down 3.1 per cent compared with 2023, marking the weakest level since 2020. Analysts say the industry is grappling with weaker domestic demand, particularly from the struggling property sector, even as exports have risen to absorb some of the surplus. Bloomberg Intelligence estimates China’s excess steel capacity in 2023 at 142 million tonnes — nearly four times the level recorded in 2020. Coal sector sees rare drop in production Coal output fell 3.8 per cent year-on-year to just over 380 million tonnes in July — the first such decline in more than a year. Despite this, January-to-July production remained at record levels. Northern China’s coal hubs were hit hard by torrential rains, which forced mines to shut and disrupted transport links. At the same time, government inspections targeted mines exceeding permitted production limits, adding further pressure on supply. Thermal coal producers have been shielded from deeper cuts due to surging electricity demand amid summer heatwaves, but coking coal miners, critical suppliers to steelmakers face fewer protections as steel demand remains under strain. Policy and environmental pressures ahead As per Bloomberg, Beijing’s pollution controls ahead of next month’s military parade in the capital are expected to further limit steel output, with much of China’s steel capacity located near Beijing. While steel exports have helped offset weak domestic consumption, rising global protectionism could limit overseas sales in the coming months. With the property market slump stripping away one of the sector’s key demand pillars, the industry faces a challenging road ahead. (With inputs from the agencies)

In July, China’s steel production declined 4% year-on-year to below 80 million tonnes, the lowest in 2024, amid extreme weather and government capacity control efforts.

China’s steel and coal output falls as supply pressures and bad weather bite

India’s manufacturing dreams, nurtured for over a decade under Prime Minister Narendra Modi’s “Make in India” campaign, are now facing one of their biggest challenges yet. As per Bloomberg, US President Donald Trump has announced that tariffs on Indian exports will be doubled to 50 per cent, the highest US tariff rate for any Asian economy.<h2>A direct hit to India’s export sector</h2>The shock decision has already halted major investment plans. Farida Group, India’s largest shoemaker, had secured a 150-acre site in Tamil Nadu for a new export plant worth 10 billion rupees ($114 million). With the US accounting for 60 per cent of its business, the firm froze the project after the announcement.“With 25 per cent tariffs, you can still work, negotiate and adjust profits. At 50 per cent, you don’t have anything,” said Rafeeque Ahmed, Farida’s chairman, as quoted by Bloomberg.&nbsp;Trump’s move spares smartphones and pharmaceuticals for now, but it puts at risk the rest of India’s $87 billion worth of US-bound exports. Bloomberg Economics warns that the impact could be severe, exports could fall by 60 per cent, costing nearly 1 per cent of India’s GDP. Without sectoral exemptions, the drop could reach 80 per cent.<h2>India now faces the steepest tariff in Asia</h2>The White House data, compiled by Bloomberg, shows that India’s reciprocal tariff rate announced by the US in August 2025 surpasses even that of China’s.

US Reciprocal Tariff Rates in Asia (August 2025)<figure class="table"><table><tbody><tr><td>Rank</td><td>Country</td><td>Tariff Rate (%)</td></tr><tr><td>1</td><td>India</td><td>50</td></tr><tr><td>2</td><td>Laos</td><td>40</td></tr><tr><td>2</td><td>Myanmar</td><td>40</td></tr><tr><td>4</td><td>Bangladesh</td><td>20</td></tr><tr><td>4</td><td>Vietnam</td><td>20</td></tr><tr><td>4</td><td>Sri Lanka</td><td>20</td></tr><tr><td>4</td><td>Taiwan</td><td>20</td></tr><tr><td>8</td><td>Cambodia</td><td>19</td></tr><tr><td>8</td><td>Indonesia</td><td>19</td></tr><tr><td>8</td><td>Malaysia</td><td>19</td></tr><tr><td>8</td><td>Pakistan</td><td>19</td></tr><tr><td>8</td><td>Philippines</td><td>19</td></tr><tr><td>8</td><td>Thailand</td><td>19</td></tr><tr><td>14</td><td>Japan</td><td>15</td></tr></tbody></table></figure>Source: The White House / Bloomberg. Data excludes China, which faces separate tariff rates.

<h2>Strategic and political ripple effects</h2>According to Bloomberg, Trump has linked the tariff hike to India’s purchases of discounted Russian oil, which he argues help fund President Vladimir Putin’s war in Ukraine. Notably, India is the only major economy targeted with such “secondary tariffs,” even though China is Moscow’s largest crude buyer.&nbsp;The move also poses political challenges for Modi, with India now paying a higher blanket tariff rate than China. It risks undoing recent gains from Apple’s expanded iPhone assembly, growth in pharmaceuticals and green tech, and increased foreign investment from companies pursuing a “China Plus One” diversification strategy.<h2>Industry anxiety grows</h2>Exporters warn of an immediate slowdown. Ajay Sahai of the Federation of Indian Export Organisations told Bloomberg that orders for summer 2026 are already at risk, with buyers hesitating amid the higher costs. Apparel makers, scaffolding producers, and textile exporters are slashing prices to keep clients, but many say margins are unsustainable.&nbsp;Some companies are even exploring relocation. “Forget China Plus One right now. Companies are thinking India Plus One,” Ahmed said, referring to the search for alternative sourcing destinations.<h2>Possible off-ramps, but the clock is ticking</h2>US–India trade talks are ongoing, with hopes that a partial bilateral deal this autumn could reduce tariffs. Any progress in Trump’s upcoming meeting with Putin in Alaska might also ease oil-related penalties. But analysts warn that supply chains can shift quickly, and India’s share in many product categories is too small to deter US buyers from switching suppliers.&nbsp;On the factory floor, the human cost looms large. Farida Group employs 23,000 people, over half dedicated to US orders. “What will happen to workers? Shall I send them back?” Ahmed asked. “Workers would be one of the biggest sufferers.”&nbsp;With export orders drying up and sentiment sliding, the 50 per cent tariff risks not just economic slowdown but a direct setback to India’s manufacturing ambitions, potentially undoing years of progress in its push to challenge China’s dominance.&nbsp;(With inputs from the agencies)&nbsp;

The move spares smartphones and pharmaceuticals but endangers $87 billion in trade, with Bloomberg Economics warning of a potential 60–80% export drop and a GDP hit of nearly 1%.

India’s manufacturing dreams, nurtured for over a decade under Prime Minister Narendra Modi’s “Make in India” campaign, are now facing one of their biggest challenges yet. As per Bloomberg, US President Donald Trump has announced that tariffs on Indian exports will be doubled to 50 per cent, the highest US tariff rate for any Asian economy. A direct hit to India’s export sector The shock decision has already halted major investment plans. Farida Group, India’s largest shoemaker, had secured a 150-acre site in Tamil Nadu for a new export plant worth 10 billion rupees ($114 million). With the US accounting for 60 per cent of its business, the firm froze the project after the announcement. “With 25 per cent tariffs, you can still work, negotiate and adjust profits. At 50 per cent, you don’t have anything,” said Rafeeque Ahmed, Farida’s chairman, as quoted by Bloomberg. Trump’s move spares smartphones and pharmaceuticals for now, but it puts at risk the rest of India’s $87 billion worth of US-bound exports. Bloomberg Economics warns that the impact could be severe, exports could fall by 60 per cent, costing nearly 1 per cent of India’s GDP. Without sectoral exemptions, the drop could reach 80 per cent. India now faces the steepest tariff in Asia The White House data, compiled by Bloomberg, shows that India’s reciprocal tariff rate announced by the US in August 2025 surpasses even that of China’s.

India faces a record 50% US tariff on $87 billion in exports, threatening jobs, investment, and Modi’s “Make in India” ambitions.

India faces record-high US tariff rate, exports worth $87 billion at risk: Details here

US President Donald Trump has launched a fresh attack on Wall Street, this time targeting Goldman Sachs CEO David Solomon over the bank’s assessment of his tariff policies. In a post on his Truth Social account, quoted by Reuters, Trump claimed that tariffs have been a boon for the US economy, insisting they have brought in “trillions of dollars” without stoking inflation. He accused Solomon and his team of making “a bad prediction” on the economic effects of tariffs, and suggested the Goldman chief “focus on being a DJ” rather than running a major financial institution.<h2>The trigger: Goldman’s tariff analysis</h2>While Trump did not specify which research note he was referring to, Reuters reports that Goldman Sachs has consistently taken a bearish view on tariffs. In its latest note, chief economist Jan Hatzius said US consumers had absorbed 22 per cent of tariff costs through June, a figure that could rise to 67 per cent if recent levies continue on their current trajectory.&nbsp;Goldman has also warned that sweeping tariffs could weigh on global growth and push the US Federal Reserve to cut interest rates more aggressively than expected. Hatzius&nbsp;declined to comment when contacted by Reuters, and a Goldman Sachs spokesperson also offered no response to Trump’s remarks.<h2>Trump responds&nbsp;</h2>In his Truth Social post, Trump doubled down on his argument that the burden of tariffs falls largely on foreign companies and governments rather than US consumers.&nbsp;“It has been shown that, for the most part, consumers aren’t even paying these tariffs, it is mostly companies and governments, many of them foreign, picking up the tabs,” Trump wrote.&nbsp;

&nbsp;Since February 1, when Trump intensified his trade war by imposing levies on imports from Mexico, Canada, and China, at least 333 companies worldwide have reacted to tariffs in some way, according to a Reuters tracker.<h2>Tariffs: Economic weapon or consumer cost?</h2>Tariffs are taxes on imported goods, usually intended to protect domestic industries or influence trade terms. Their cost distribution depends on global supply chains, market demand, and pricing strategies.According to Reuters’ global tariff tracker, companies reported a combined financial hit of $13.6 billion to $15.2 billion between July 16 and August 8 for the full year from Trump’s tariffs.Economists remain divided:<ul><li>Trump’s view:&nbsp;Tariffs are filling US Treasury coffers, strengthening the stock market, and not causing inflation.</li><li>Goldman and others: The costs are being shared by businesses and consumers, and sustained tariffs could slow growth.</li></ul><h2>Broader corporate tension over tariffs</h2>Trump’s criticism of Goldman Sachs comes amid a broader pattern of presidential rebukes aimed at corporate leaders. He has previously criticised:<ul><li>JPMorgan Chase and Bank of America over alleged “debanking” of individuals.</li><li>Intel CEO Lip Bu-Tan over ties to Chinese firms.</li><li>Apple’s Tim Cook for manufacturing iPhones outside the US</li><li>Amazon for considering listing prices that reflect tariff costs (an idea the company later abandoned).</li><li>A senior JPMorgan Asset Management strategist told Reuters earlier this year that he had toned down his public comments on tariffs due to concerns about internal and external repercussions.</li></ul><h2>US economics backdrop</h2>The clash comes as new data shows US consumer prices rose moderately in July. According to Reuters, costs for services such as airline fares and tariff-sensitive goods like household furniture pushed a measure of underlying inflation to its largest six-month gain.&nbsp;Despite the uptick, markets expect the Federal Reserve to cut interest rates in September amid weakening labour market conditions. But economists warn that the inflationary effects of Trump’s tariffs may still be working through the system, especially as firms sell off pre-tariff inventory.<h2>Political turmoil&nbsp;</h2>Reuters also notes that concerns about data quality are rising after staffing cuts and the suspension of data collection for parts of the Consumer Price Index in some areas. These concerns intensified following the firing of BLS chief Erika McEntarfer earlier this month after weak job growth data in July.&nbsp;Trump has nominated E.J. Antoni, a Heritage Foundation economist and critic of the BLS, to lead the statistics agency. Antoni previously contributed to “Project 2025,” a conservative plan to overhaul the US federal government.&nbsp;(With inputs from the agencies)&nbsp;&nbsp;

Trump argued that the tariff burden mostly falls on foreign companies rather than US consumers. Goldman Sachs analysis indicated that US consumers have absorbed a significant portion of tariff costs and warned that continued tariffs could slow growth

US President Donald Trump has launched a fresh attack on Wall Street, this time targeting Goldman Sachs CEO David Solomon over the bank’s assessment of his tariff policies. In a post on his Truth Social account, quoted by Reuters, Trump claimed that tariffs have been a boon for the US economy, insisting they have brought in “trillions of dollars” without stoking inflation. He accused Solomon and his team of making “a bad prediction” on the economic effects of tariffs, and suggested the Goldman chief “focus on being a DJ” rather than running a major financial institution. The trigger: Goldman’s tariff analysis While Trump did not specify which research note he was referring to, Reuters reports that Goldman Sachs has consistently taken a bearish view on tariffs. In its latest note, chief economist Jan Hatzius said US consumers had absorbed 22 per cent of tariff costs through June, a figure that could rise to 67 per cent if recent levies continue on their current trajectory. Goldman has also warned that sweeping tariffs could weigh on global growth and push the US Federal Reserve to cut interest rates more aggressively than expected. Hatzius declined to comment when contacted by Reuters, and a Goldman Sachs spokesperson also offered no response to Trump’s remarks. Trump responds In his Truth Social post, Trump doubled down on his argument that the burden of tariffs falls largely on foreign companies and governments rather than US consumers. “It has been shown that, for the most part, consumers aren’t even paying these tariffs, it is mostly companies and governments, many of them foreign, picking up the tabs,” Trump wrote.

President Trump criticised Goldman Sachs CEO David Solomon over the bank's negative assessment of his tariff policies, stating that tariffs had positively impacted the US economy.

Trump hits out at Goldman Sachs CEO over tariff research

Chinese manufacturers are cutting shifts, reducing overtime pay, and relying more on temporary workers to stay afloat as US tariffs bite into profits, according to a Reuters report from Guangzhou. The strain is particularly visible in export hubs like Guangdong, where competition for non-US markets is intensifying. Mike Chai, who runs Cartia Global Manufacturing, a kitchen cabinet producer in Foshan, told Reuters he is aiming to cut wage costs by about 30% to keep up with Chinese rivals who have abandoned the US market due to steep tariffs. These competitors are now targeting his Australian customers, forcing him to shorten shifts and ask employees to take unpaid leave.&nbsp;Chai has already halved his workforce since the pandemic and says his factory is now operating at only half capacity. “We’re in survival mode,” he said. “You don’t want our factory to go broke… let’s do it together.”<h2>Tariff truce offers temporary relief</h2>The pressure comes even as Washington and Beijing extended a 90-day tariff truce this week, preventing duties from returning to April’s triple-digit levels. However, Reuters notes that while China’s official unemployment rate remains around 5%, underemployment is worsening, a trend economists say is eroding worker incomes, confidence, and spending power.&nbsp;Natixis Asia-Pacific chief economist Alicia Garcia-Herrero told Reuters that the export model is punishing workers rather than companies. “If you need to export at a loss, do not export,” she said, warning of a “spiral” of lower prices, lower wages, and weaker consumption.&nbsp;July data shows Chinese exports to the US dropped 21.7% year-on-year, while shipments rose to the EU (+9.2%), ASEAN (+16.6%), and Australia (+14.8%). But winning these markets means cutting prices further, Chai plans a 10% reduction and reducing overtime, which once made up more than a third of workers’ pay.<h2>Rise of temporary and lower-paid work</h2>Reuters reports that many factories are replacing full-time staff with temporary hires to avoid pension and insurance costs. Some workers, like Alan Zhang in Guangzhou, now earn less than half their 2021 daily rate and struggle to find more than two weeks of work per month.&nbsp;Pay rates for temp jobs have also fallen, from 16 yuan an hour last year to 14 yuan in some regions, while job seekers crowd factory recruitment markets in cities like Wuhan and Shenzhen. For some, conditions are so strained that they turn down work that falls short of advertised wages or requires upfront fees.&nbsp;Economists warn that if manufacturing wages continue to be squeezed, deflationary pressure could spread across China’s wider economy, particularly in lower-skill industries such as textiles, furniture, and simple electronics.&nbsp;(With inputs from the agencies)&nbsp;

While a tariff truce provides temporary relief, underemployment and lower incomes worsen. Many factories replace full-time staff with temp hires, leading to declining pay rates and increased job seeker competition, risking deflation in lower-skill industries.

Chinese manufacturers are cutting shifts, reducing overtime pay, and relying more on temporary workers to stay afloat as US tariffs bite into profits, according to a Reuters report from Guangzhou. The strain is particularly visible in export hubs like Guangdong, where competition for non-US markets is intensifying. Mike Chai, who runs Cartia Global Manufacturing, a kitchen cabinet producer in Foshan, told Reuters he is aiming to cut wage costs by about 30% to keep up with Chinese rivals who have abandoned the US market due to steep tariffs. These competitors are now targeting his Australian customers, forcing him to shorten shifts and ask employees to take unpaid leave. Chai has already halved his workforce since the pandemic and says his factory is now operating at only half capacity. “We’re in survival mode,” he said. “You don’t want our factory to go broke… let’s do it together.” Tariff truce offers temporary relief The pressure comes even as Washington and Beijing extended a 90-day tariff truce this week, preventing duties from returning to April’s triple-digit levels. However, Reuters notes that while China’s official unemployment rate remains around 5%, underemployment is worsening, a trend economists say is eroding worker incomes, confidence, and spending power. Natixis Asia-Pacific chief economist Alicia Garcia-Herrero told Reuters that the export model is punishing workers rather than companies. “If you need to export at a loss, do not export,” she said, warning of a “spiral” of lower prices, lower wages, and weaker consumption. July data shows Chinese exports to the US dropped 21.7% year-on-year, while shipments rose to the EU (+9.2%), ASEAN (+16.6%), and Australia (+14.8%). But winning these markets means cutting prices further, Chai plans a 10% reduction and reducing overtime, which once made up more than a third of workers’ pay. Rise of temporary and lower-paid work Reuters reports that many factories are replacing full-time staff with temporary hires to avoid pension and insurance costs. Some workers, like Alan Zhang in Guangzhou, now earn less than half their 2021 daily rate and struggle to find more than two weeks of work per month. Pay rates for temp jobs have also fallen, from 16 yuan an hour last year to 14 yuan in some regions, while job seekers crowd factory recruitment markets in cities like Wuhan and Shenzhen. For some, conditions are so strained that they turn down work that falls short of advertised wages or requires upfront fees. Economists warn that if manufacturing wages continue to be squeezed, deflationary pressure could spread across China’s wider economy, particularly in lower-skill industries such as textiles, furniture, and simple electronics. (With inputs from the agencies)

Chinese manufacturers are cutting shifts, reducing overtime, and hiring more temporary workers to cope with profits declining due to US tariffs, particularly in Guangdong.

China’s factories slash shifts and wages as US tariffs squeeze export margins

The United States and China have agreed to extend their tariff truce by 90 days, delaying a surge in import duties that threatened to escalate into a near-total trade freeze between the world’s two largest economies. US President Donald Trump announced on his Truth Social platform on Monday that he had signed an executive order suspending the imposition of higher tariffs until November 10 at 12:01 a.m. EST (0501 GMT). All other elements of the truce will remain in place.

China’s Commerce Ministry issued a matching statement early on Tuesday, postponing for 90 days the implementation of additional tariffs on US goods and delaying the addition of American companies to its trade and investment restriction lists. Beijing described the move as a step to implement the “important consensus” reached by President Xi Jinping and Trump during their June 5 call.<h2>Surge in tariffs averted</h2>Without the extension, US tariffs on Chinese goods were set to jump to 145%, while Chinese tariffs on American imports were due to rise to 125 per cent, levels that analysts say would have amounted to a “virtual trade embargo.”&nbsp;The truce locks in current tariff levels of 30% on Chinese imports to the US, and 10% on US goods entering China. The extension is expected to benefit American retailers preparing for the autumn and Christmas shopping season, as it allows them to import electronics, clothing, and toys at lower tariff rates. “This will undoubtedly lower anxiety on both sides as talks continue,” said Ryan Majerus, a former US trade official, as quoted by Reuters.<h2>Political backdrop and negotiation push</h2>The decision follows a series of high-level negotiations, including talks in Geneva in May and in Stockholm in July. As per Reuters, US Treasury Secretary Scott Bessent had repeatedly warned that the triple-digit duties introduced in the spring were “untenable,” essentially imposing a trade freeze.&nbsp;Former White House trade adviser Kelly Ann Shaw noted that the extension was typical of Trump’s style of brinkmanship, suggesting that the president pushed for further concessions from China before agreeing. According to Reuters, Trump had urged Beijing to quadruple its soybean purchases over the weekend, though he did not repeat this demand on Monday.Trump told a news conference that he has a “good relationship” with Xi Jinping and hinted that a face-to-face meeting could happen before the end of the year if progress is made.<h2>Economic impact</h2>According to US Commerce Department data cited by Reuters, imports from China surged earlier this year as firms rushed to beat tariff deadlines, but fell sharply in June. The US trade deficit with China narrowed by roughly one-third that month to $9.5 billion — the lowest since February 2004 and has shrunk by $22.2 billion over the past five months, a 70% reduction from a year earlier. Beyond tariffs, Washington has been pressing Beijing to reduce purchases of Russian oil as part of its broader strategy to pressure Moscow over the Ukraine war. Trump has also threatened to impose secondary tariffs on China if it continues buying Russian crude.&nbsp;Analysts see the 90-day pause as a temporary relief for global markets, but one that could just as easily expire without a deal. “Combined with some of the de-escalatory steps both the United States and China have taken in recent weeks, it demonstrates that both sides are trying to see if they can reach some kind of deal,” said Wendy Cutler, a former senior US trade official, as per Reuters.&nbsp;(With inputs from the agencies)&nbsp;

Current tariffs remain at 30% on Chinese imports to the US and 10% on US goods to China, benefiting American retailers ahead of the holiday season. Analysts view this extension as temporary relief, raising hopes for a potential deal amidst ongoing negotiations.

The United States and China have agreed to extend their tariff truce by 90 days, delaying a surge in import duties that threatened to escalate into a near-total trade freeze between the world’s two largest economies. US President Donald Trump announced on his Truth Social platform on Monday that he had signed an executive order suspending the imposition of higher tariffs until November 10 at 12:01 a.m. EST (0501 GMT). All other elements of the truce will remain in place.

The US and China have extended their tariff truce for 90 days, preventing a potential trade freeze. President Trump signed an executive order delaying higher tariffs until November 10.

US, China extend tariff truce by 90 days, avert near-total trade freeze

US President Donald Trump has signed an executive order delaying the return of high US tariffs on Chinese goods for another 90 days, a White House official confirmed on Monday. The truce between Washington and Beijing had been due to expire at 00:01 on 12 August (04:01 GMT), but the decision came just hours before the deadline.<h2>Last-minute order signed before tariff pause expired</h2>Trump’s move prevents duties from snapping back to their previous levels, which were among the highest of the US-China trade war. Without the extension, tariffs could have jumped as high as 245% on some Chinese goods, while Beijing had threatened retaliatory measures of up to 125%. The order followed the latest round of negotiations between US and Chinese trade officials in Stockholm late last month.Also read: <a href="https://www.wionews.com/world/-it-takes-two-to-tango-trump-says-he-ll-know-in-two-minutes-if-ukraine-ceasefire-deal-with-putin-is-possible-1754930345060">‘It takes two to tango’: Trump says he’ll know in TWO minutes if Ukraine ceasefire deal with Putin is possible</a><h2>China calls for ‘positive’ trade outcomes</h2>Earlier on Monday, Chinese foreign ministry spokesman Lin Jian urged the US to build on “important consensus” reached during a recent call between the two leaders. “We hope that the US will work with China … and strive for positive outcomes on the basis of equality, respect and mutual benefit,” Lin said in a statement.<h2>Tariff war history and current rates</h2>The US and China agreed in May to pause most tariffs after initial talks in Geneva. That 90-day truce was set to expire on Tuesday before Trump signed the extension. Currently, US imports from China face a baseline tariff of 10%, plus an additional 20% in response to US allegations of fentanyl smuggling. Some Chinese goods are taxed at higher rates. US exports to China are subject to tariffs of around 30%.<h2>Trump pushes China to buy more US soybeans</h2>On Sunday, Trump posted on TruthSocial calling for China to quadruple its purchases of US soybeans to help cut the trade deficit. In a separate development ahead of the deadline, chipmakers Nvidia and AMD agreed to pay the US government 15% of revenue from advanced chips sold to China in exchange for export licences.

President Trump signed a last-minute executive order delaying high US tariffs on Chinese goods for 90 days, preventing major increases and easing tensions following trade talks in Stockholm.

US President Donald Trump has signed an executive order delaying the return of high US tariffs on Chinese goods for another 90 days, a White House official confirmed on Monday. The truce between Washington and Beijing had been due to expire at 00:01 on 12 August (04:01 GMT), but the decision came just hours before the deadline. Last-minute order signed before tariff pause expired Trump’s move prevents duties from snapping back to their previous levels, which were among the highest of the US-China trade war. Without the extension, tariffs could have jumped as high as 245% on some Chinese goods, while Beijing had threatened retaliatory measures of up to 125%. The order followed the latest round of negotiations between US and Chinese trade officials in Stockholm late last month. Also read: ‘It takes two to tango’: Trump says he’ll know in TWO minutes if Ukraine ceasefire deal with Putin is possible China calls for ‘positive’ trade outcomes Earlier on Monday, Chinese foreign ministry spokesman Lin Jian urged the US to build on “important consensus” reached during a recent call between the two leaders. “We hope that the US will work with China … and strive for positive outcomes on the basis of equality, respect and mutual benefit,” Lin said in a statement. Tariff war history and current rates The US and China agreed in May to pause most tariffs after initial talks in Geneva. That 90-day truce was set to expire on Tuesday before Trump signed the extension. Currently, US imports from China face a baseline tariff of 10%, plus an additional 20% in response to US allegations of fentanyl smuggling. Some Chinese goods are taxed at higher rates. US exports to China are subject to tariffs of around 30%. Trump pushes China to buy more US soybeans On Sunday, Trump posted on TruthSocial calling for China to quadruple its purchases of US soybeans to help cut the trade deficit. In a separate development ahead of the deadline, chipmakers Nvidia and AMD agreed to pay the US government 15% of revenue from advanced chips sold to China in exchange for export licences.

President Trump signed a last-minute executive order delaying high US tariffs on Chinese goods for 90 days, preventing major increases and easing tensions following trade talks in Stockholm.

US-China tariff deadline pushed: Trump signs last-minute order to extend trade truce with Beijing by 90 days to avoid escalation

The European Central Bank (ECB) is expected to wait until December before making what economists believe will be its final interest rate cut in the current cycle, according to a Bloomberg survey.&nbsp;The findings mark a three-month delay compared with similar polling in July, as policymakers opt for more time to gauge the economic impact of trade disruptions triggered by US President Donald Trump’s tariff measures. Economists now see the ECB’s deposit rate falling to 1.75 per cent by year-end, remaining there for nine to ten months before rising again as demand picks up.<h2>Waiting for a clearer picture</h2>As per Bloomberg, delaying the move until the final meeting of 2025 would allow the ECB to assess how the eurozone economy fared in the third quarter,&nbsp;stripping out distortions from businesses rushing to beat US tariffs earlier this year. December’s meeting will also bring fresh growth and inflation forecasts extending to 2028, giving policymakers a longer-term view.&nbsp;Global central banks are also in a wait-and-watch mode. The US Federal Reserve has held rates steady throughout 2025 so far, while the Bank of England governor recently admitted there was “genuine uncertainty” over the timing of its next cut.<h2>Market bets shift</h2>The ECB kept rates unchanged last month, and several policymakers have since argued that further reductions are unnecessary for now. Traders have scaled back expectations for a September cut, pricing in just over a 50 per cent chance of a quarter-point move in December. Economists at TD Securities, Julie Ioffe and James Rossiter, told Bloomberg that only if data shows clear weakness from shifting global trade patterns would the ECB act sooner,&nbsp;and even then, December is the likeliest moment.&nbsp;If officials choose not to move at year-end, financial markets may conclude that the ECB has reached the floor for rates. A prior Bloomberg survey suggested traders would tolerate up to three consecutive meetings without action before assuming the rate cycle is over.&nbsp;(With inputs from the agencies)

Economists expect a drop to 1.75% by year-end. Global central banks, including the US Federal Reserve, are also maintaining steady rates amid uncertainty. Market expectations for a cut have shifted.

The European Central Bank (ECB) is expected to wait until December before making what economists believe will be its final interest rate cut in the current cycle, according to a Bloomberg survey. The findings mark a three-month delay compared with similar polling in July, as policymakers opt for more time to gauge the economic impact of trade disruptions triggered by US President Donald Trump’s tariff measures. Economists now see the ECB’s deposit rate falling to 1.75 per cent by year-end, remaining there for nine to ten months before rising again as demand picks up. Waiting for a clearer picture As per Bloomberg, delaying the move until the final meeting of 2025 would allow the ECB to assess how the eurozone economy fared in the third quarter, stripping out distortions from businesses rushing to beat US tariffs earlier this year. December’s meeting will also bring fresh growth and inflation forecasts extending to 2028, giving policymakers a longer-term view. Global central banks are also in a wait-and-watch mode. The US Federal Reserve has held rates steady throughout 2025 so far, while the Bank of England governor recently admitted there was “genuine uncertainty” over the timing of its next cut. Market bets shift The ECB kept rates unchanged last month, and several policymakers have since argued that further reductions are unnecessary for now. Traders have scaled back expectations for a September cut, pricing in just over a 50 per cent chance of a quarter-point move in December. Economists at TD Securities, Julie Ioffe and James Rossiter, told Bloomberg that only if data shows clear weakness from shifting global trade patterns would the ECB act sooner, and even then, December is the likeliest moment. If officials choose not to move at year-end, financial markets may conclude that the ECB has reached the floor for rates. A prior Bloomberg survey suggested traders would tolerate up to three consecutive meetings without action before assuming the rate cycle is over. (With inputs from the agencies)

The European Central Bank is likely to delay its final interest rate cut until December, as it assesses trade disruptions caused by US tariffs.

ECB likely to delay final rate cut of cycle until December

Amid global tension on tariffs chaos, Pakistan and the United States are pressing forward with discussions on a new trade and investment framework, after Islamabad secured what it calls the lowest tariff rate among major South Asian economies. Speaking to Bloomberg TV, Pakistan’s Minister of State for Finance Bilal Azhar Kayani said that the Prime Minister Shehbaz Sharif’s government is seeking improved tariff terms on certain exports as part of the ongoing negotiations. The talks aim to finalise investment provisions alongside the trade deal, which was agreed in principle last month.<h2>Tariff win boosts Islamabad’s negotiating position</h2>As per Bloomberg, Pakistan reached the agreement with Washington at a 19 per cent tariff rate, lower than that of its regional peers. The development comes amid an upswing in bilateral relations, underscored by a rare meeting at the White House between US President Donald Trump and Pakistan’s army chief, General Asim Munir, who is making his second visit to the US in just a few months.<h2>Oil partnership on the horizon</h2>Announcing the trade pact last month, President Trump said the US would also work with Pakistan to tap what he described as the country’s “massive oil reserves.” According to Bloomberg, Washington is in the process of selecting a US oil company to lead the partnership.<h2>Strategic reset in ties</h2>The trade negotiations reflect a broader warming of the US–Pakistan relations after years of strained ties. Analysts see the tariff concession and potential energy cooperation as signs of a strategic reset, with Islamabad hoping to boost foreign investment and diversify its export markets.&nbsp;If finalised, the US agreement could mark one of Pakistan’s most significant economic wins in recent years, potentially opening the door for expanded trade flows, energy development, and deeper geopolitical engagement with Washington.&nbsp;(With inputs from the agencies)

The deal aims to enhance investment and trade, reflecting improved bilateral relations and potential energy cooperation. The trade negotiations reflect a broader warming of the US–Pakistan relations after years of strained ties. 

Amid global tension on tariffs chaos, Pakistan and the United States are pressing forward with discussions on a new trade and investment framework, after Islamabad secured what it calls the lowest tariff rate among major South Asian economies. Speaking to Bloomberg TV, Pakistan’s Minister of State for Finance Bilal Azhar Kayani said that the Prime Minister Shehbaz Sharif’s government is seeking improved tariff terms on certain exports as part of the ongoing negotiations. The talks aim to finalise investment provisions alongside the trade deal, which was agreed in principle last month. Tariff win boosts Islamabad’s negotiating position As per Bloomberg, Pakistan reached the agreement with Washington at a 19 per cent tariff rate, lower than that of its regional peers. The development comes amid an upswing in bilateral relations, underscored by a rare meeting at the White House between US President Donald Trump and Pakistan’s army chief, General Asim Munir, who is making his second visit to the US in just a few months. Oil partnership on the horizon Announcing the trade pact last month, President Trump said the US would also work with Pakistan to tap what he described as the country’s “massive oil reserves.” According to Bloomberg, Washington is in the process of selecting a US oil company to lead the partnership. Strategic reset in ties The trade negotiations reflect a broader warming of the US–Pakistan relations after years of strained ties. Analysts see the tariff concession and potential energy cooperation as signs of a strategic reset, with Islamabad hoping to boost foreign investment and diversify its export markets. If finalised, the US agreement could mark one of Pakistan’s most significant economic wins in recent years, potentially opening the door for expanded trade flows, energy development, and deeper geopolitical engagement with Washington. (With inputs from the agencies)

Pakistan and the US are negotiating a new trade and investment framework, with Islamabad securing a 19% tariff rate, the lowest in South Asia.

Pakistan, US in final stretch of trade deal talks after 19% tariff win

Gold futures in New York held steady on Monday as markets awaited a formal clarification from the White House over its tariff policy, after a surprise US ruling last week rattled the bullion trade. According to Bloomberg, a US government agency stunned traders by formally ruling that 100-ounce and one-kilogram gold bars would be subject to import duties, a move that sent futures prices surging to a record on Friday before erasing most of those gains. The administration later told Bloomberg it would issue a statement to address what it called “misinformation” about duties on gold and other specialty products.<h2>Price gap between New York and London narrows</h2>On Monday, futures were trading about $65 an ounce above the global spot benchmark, with the premium narrowing to under $60 after briefly topping $100 last week. The sudden spike in the gap between New York and London trading hubs highlighted how sensitive global bullion flows are to US trade policy.&nbsp;Washington had exempted gold from tariffs back in April, and traders say the uncertainty over whether that exemption still stands is keeping the market on edge. Analysts warn that any prolonged ambiguity could disrupt the smooth functioning of US gold futures contracts.<h2>Industry calls for stability</h2>As quoted by Bloomberg, Joseph Cavatoni, senior market strategist for North America at the World Gold Council, said the gold market was “behaving in an orderly manner” while awaiting clarity, adding that the Council would continue monitoring developments and update its research once more information is available.&nbsp;The precious metal has gained nearly 30 per cent so far this year, with most of the rally occurring in the first four months as geopolitical tensions and trade disputes boosted demand for safe-haven assets. Prices ended Friday within about $100 of April’s all-time high.<h2>Eyes on US inflation data</h2>Traders are also looking to Tuesday’s US inflation print for fresh cues on interest rate policy. Bloomberg reports that economists expect core consumer prices, excluding food and energy to have risen 0.3 per cent in July, up from 0.2 per cent in June.&nbsp;The Federal Reserve has resisted President Donald Trump’s calls to ease monetary policy, balancing concerns over a cooling job market with the challenge of still-elevated inflation. Lower interest rates typically benefit gold, which does not yield interest.Spot gold eased 0.1 per cent to $3,394.13 an ounce in Singapore trade at 7:46 a.m., while the Bloomberg Dollar Spot Index slipped 0.1 per cent.Silver fell, while platinum saw slight gains.&nbsp;(With inputs from the agencies)

The price gap between New York and London narrowed, with futures trading about $65 an ounce above the spot benchmark. Analysts urge for clarity, as uncertainty disrupts market stability. Traders look forward to US inflation data for cues on interest rate policy.

Gold futures in New York held steady on Monday as markets awaited a formal clarification from the White House over its tariff policy, after a surprise US ruling last week rattled the bullion trade. According to Bloomberg, a US government agency stunned traders by formally ruling that 100-ounce and one-kilogram gold bars would be subject to import duties, a move that sent futures prices surging to a record on Friday before erasing most of those gains. The administration later told Bloomberg it would issue a statement to address what it called “misinformation” about duties on gold and other specialty products. Price gap between New York and London narrows On Monday, futures were trading about $65 an ounce above the global spot benchmark, with the premium narrowing to under $60 after briefly topping $100 last week. The sudden spike in the gap between New York and London trading hubs highlighted how sensitive global bullion flows are to US trade policy. Washington had exempted gold from tariffs back in April, and traders say the uncertainty over whether that exemption still stands is keeping the market on edge. Analysts warn that any prolonged ambiguity could disrupt the smooth functioning of US gold futures contracts. Industry calls for stability As quoted by Bloomberg, Joseph Cavatoni, senior market strategist for North America at the World Gold Council, said the gold market was “behaving in an orderly manner” while awaiting clarity, adding that the Council would continue monitoring developments and update its research once more information is available. The precious metal has gained nearly 30 per cent so far this year, with most of the rally occurring in the first four months as geopolitical tensions and trade disputes boosted demand for safe-haven assets. Prices ended Friday within about $100 of April’s all-time high. Eyes on US inflation data Traders are also looking to Tuesday’s US inflation print for fresh cues on interest rate policy. Bloomberg reports that economists expect core consumer prices, excluding food and energy to have risen 0.3 per cent in July, up from 0.2 per cent in June. The Federal Reserve has resisted President Donald Trump’s calls to ease monetary policy, balancing concerns over a cooling job market with the challenge of still-elevated inflation. Lower interest rates typically benefit gold, which does not yield interest. Spot gold eased 0.1 per cent to $3,394.13 an ounce in Singapore trade at 7:46 a.m., while the Bloomberg Dollar Spot Index slipped 0.1 per cent.Silver fell, while platinum saw slight gains. (With inputs from the agencies)

Gold futures in New York remained steady as markets awaited clarification from the White House on tariff policies following a surprising ruling that imposed import duties on certain gold bars.

Gold market holds steady as traders await US tariff clarity

Oil prices fell in early Asian trade on Monday, extending last week’s sharp losses, as global markets weighed higher US tariffs, an OPEC output increase, and rising hopes for a Ukraine ceasefire deal. Brent crude futures slipped 52 cents, or 0.78 per cent, to $66.07 a barrel by 0041 GMT, while US West Texas Intermediate (WTI) crude dropped 58 cents to $63.30. The decline comes after Brent lost 4.4 per cent and WTI shed 5.1 per cent over the week ended Friday, dragged lower by a gloomy economic outlook, as per Reuters.<h2>Ceasefire hopes and sanctions impact</h2>According to Reuters, expectations have grown that sanctions limiting the supply of Russian oil to global markets could soon be eased. This follows US President Donald Trump’s announcement on Friday that he will meet Russian President Vladimir Putin in Alaska on August 15 to negotiate an end to the Ukraine war.&nbsp;Trump has warned Moscow that if no peace deal is reached, its oil buyers could face secondary sanctions. At the same time, Washington is pressing India to scale back Russian crude purchases. The White House has also indicated that penalties on Russia could be tightened if talks fail.<h2>Tariffs and inflation risks weigh on demand</h2>The market downturn has also been fuelled by Trump’s new import tariffs, which took effect on Thursday. These duties target dozens of countries and are expected to disrupt supply chains, push up inflation, and slow economic activity.&nbsp;In parallel, OPEC’s latest output hike has added pressure to crude prices, with the combination of higher supply and weaker demand expectations reinforcing the bearish sentiment.<h2>Key US inflation data ahead</h2>Traders are now focused on US inflation figures due Tuesday, which could influence the Federal Reserve’s interest rate outlook. As quoted by Reuters, IG market analyst Tony Sycamore noted that a weaker-than-expected Consumer Price Index (CPI) reading would boost expectations for earlier and deeper Fed rate cuts, potentially stimulating economic activity and supporting oil demand. Conversely, a hotter print could raise stagflation fears and delay policy easing.&nbsp;With geopolitical talks and economic data converging this week, oil prices are expected to remain volatile as markets balance hopes of a Ukraine peace pact against the drag from tariffs and output increases.&nbsp;(With inputs from the agencies)

Market sentiment remains bearish due to geopolitical tensions, economic forecasts, and upcoming US inflation data, which are influencing demand.

Oil prices fell in early Asian trade on Monday, extending last week’s sharp losses, as global markets weighed higher US tariffs, an OPEC output increase, and rising hopes for a Ukraine ceasefire deal. Brent crude futures slipped 52 cents, or 0.78 per cent, to $66.07 a barrel by 0041 GMT, while US West Texas Intermediate (WTI) crude dropped 58 cents to $63.30. The decline comes after Brent lost 4.4 per cent and WTI shed 5.1 per cent over the week ended Friday, dragged lower by a gloomy economic outlook, as per Reuters. Ceasefire hopes and sanctions impact According to Reuters, expectations have grown that sanctions limiting the supply of Russian oil to global markets could soon be eased. This follows US President Donald Trump’s announcement on Friday that he will meet Russian President Vladimir Putin in Alaska on August 15 to negotiate an end to the Ukraine war. Trump has warned Moscow that if no peace deal is reached, its oil buyers could face secondary sanctions. At the same time, Washington is pressing India to scale back Russian crude purchases. The White House has also indicated that penalties on Russia could be tightened if talks fail. Tariffs and inflation risks weigh on demand The market downturn has also been fuelled by Trump’s new import tariffs, which took effect on Thursday. These duties target dozens of countries and are expected to disrupt supply chains, push up inflation, and slow economic activity. In parallel, OPEC’s latest output hike has added pressure to crude prices, with the combination of higher supply and weaker demand expectations reinforcing the bearish sentiment. Key US inflation data ahead Traders are now focused on US inflation figures due Tuesday, which could influence the Federal Reserve’s interest rate outlook. As quoted by Reuters, IG market analyst Tony Sycamore noted that a weaker-than-expected Consumer Price Index (CPI) reading would boost expectations for earlier and deeper Fed rate cuts, potentially stimulating economic activity and supporting oil demand. Conversely, a hotter print could raise stagflation fears and delay policy easing. With geopolitical talks and economic data converging this week, oil prices are expected to remain volatile as markets balance hopes of a Ukraine peace pact against the drag from tariffs and output increases. (With inputs from the agencies)

Oil prices dropped in early Asian trade, extending last week’s losses amidst higher US tariffs, an OPEC output increase, and rising ceasefire hopes in Ukraine. Brent crude fell to $66.07, and WTI dropped to $63.30.

Oil prices slide as markets eye US–Russia Ukraine peace talks

US Treasury yields have snapped a three-week rally, with traders holding their breath ahead of a crucial consumer price index (CPI) report that could shape the Federal Reserve’s next move.As per Bloomberg, the 10-year Treasury yield rose by seven basis points last week to about 4.3 per cent, bouncing off a three-month low. Traders are now pricing in more than an 80 per cent probability of a Fed rate cut in September, according to interest-rate swap market data.&nbsp;The inflation data, due Tuesday, will be closely watched for signs of how President Donald Trump’s new tariffs are feeding into consumer prices. Economists expect “core” inflation — excluding food and energy — to have risen by 0.3 per cent in July, up from 0.2 per cent the month before.&nbsp;A hotter-than-expected reading could test market expectations for rate cuts, especially as the Fed has so far resisted Trump’s public pressure to ease policy more aggressively. The central bank has been balancing the risks of a cooling job market against still-stubborn price pressures.<h2>Political influence creeps into the Fed</h2>In a move that could tilt the policy debate, Trump last week installed a political ally at the Federal Reserve. Stephen Miran, who chairs the Council of Economic Advisers, has been appointed as a Fed governor — potentially shifting the central bank’s internal calculus ahead of September’s meeting.&nbsp;This week’s US data docket is unusually heavy. Aside from the CPI, markets will get July retail sales, industrial production, producer prices, and consumer sentiment readings. These could either cement or derail expectations for the first rate cut of Trump’s current term.Key US economic releases this week:<ul><li>August 12: NFIB small business optimism, CPI, real earnings, federal budget balance.</li><li>August 14: Producer price index, jobless claims.</li><li>August 15: Retail sales, manufacturing data, University of Michigan consumer sentiment</li></ul><h2>Fed officials on the speaking circuit</h2>Federal Reserve officials, including Michelle Bowman, Austan Goolsbee, and Raphael Bostic, are scheduled to make public remarks this week. Their tone could signal whether the central bank is preparing to move in September or waiting for more evidence of inflation cooling.The Treasury market’s reaction will hinge on whether inflation aligns with forecasts. A softer print could deepen bets on multiple rate cuts before year-end, while a strong reading may keep yields elevated and delay policy easing.&nbsp;(With inputs from the agencies)&nbsp;

With Trump fresh tariffs adding uncertainty to inflation, the data will be key to gauging how consumer prices are responding. A packed economic calendar and multiple Fed speeches this week could shape market sentiment ahead of September’s policy meeting.

US Treasury yields have snapped a three-week rally, with traders holding their breath ahead of a crucial consumer price index (CPI) report that could shape the Federal Reserve’s next move. As per Bloomberg, the 10-year Treasury yield rose by seven basis points last week to about 4.3 per cent, bouncing off a three-month low. Traders are now pricing in more than an 80 per cent probability of a Fed rate cut in September, according to interest-rate swap market data. The inflation data, due Tuesday, will be closely watched for signs of how President Donald Trump’s new tariffs are feeding into consumer prices. Economists expect “core” inflation — excluding food and energy — to have risen by 0.3 per cent in July, up from 0.2 per cent the month before. A hotter-than-expected reading could test market expectations for rate cuts, especially as the Fed has so far resisted Trump’s public pressure to ease policy more aggressively. The central bank has been balancing the risks of a cooling job market against still-stubborn price pressures. Political influence creeps into the Fed In a move that could tilt the policy debate, Trump last week installed a political ally at the Federal Reserve. Stephen Miran, who chairs the Council of Economic Advisers, has been appointed as a Fed governor — potentially shifting the central bank’s internal calculus ahead of September’s meeting. This week’s US data docket is unusually heavy. Aside from the CPI, markets will get July retail sales, industrial production, producer prices, and consumer sentiment readings. These could either cement or derail expectations for the first rate cut of Trump’s current term. Key US economic releases this week: August 12: NFIB small business optimism, CPI, real earnings, federal budget balance. August 14: Producer price index, jobless claims. August 15: Retail sales, manufacturing data, University of Michigan consumer sentiment Fed officials on the speaking circuit Federal Reserve officials, including Michelle Bowman, Austan Goolsbee, and Raphael Bostic, are scheduled to make public remarks this week. Their tone could signal whether the central bank is preparing to move in September or waiting for more evidence of inflation cooling. The Treasury market’s reaction will hinge on whether inflation aligns with forecasts. A softer print could deepen bets on multiple rate cuts before year-end, while a strong reading may keep yields elevated and delay policy easing. (With inputs from the agencies)

US Treasury yields ended a three-week slide, with traders bracing for a pivotal CPI report that could determine the Federal Reserve’s next rate move. The 10-year yield climbed to around 4.3%, while markets are pricing in an 80% chance of a September rate cut.

US Treasury rally pauses as markets brace for inflation test

Mexico has moved to set minimum export prices for fresh tomatoes bound for the United States in an effort to ease tensions after Washington imposed anti-dumping duties. According to Bloomberg, the new pricing floor aims to restore full access to the US market and prevent what Mexican officials called “distortion in the prices” of tomato exports.<h2>Why Mexico acted now?</h2>The move follows the Trump administration’s decision to impose an anti-dumping duty of over 17 per cent last month after accusing Mexican growers of selling tomatoes at unfairly low prices. US growers had long argued that cheap imports were undercutting domestic producers. While the US Commerce Department announced the duty, President Donald Trump delayed a broader tariff hike for 90 days to leave room for negotiations on a fresh trade agreement.&nbsp;“The Mexican government is trying to help growers avoid an increase in anti-dumping duties in the future,” Georgina Felix, director of operations at the Arizona-based Fresh Produce Association of the Americas, told Bloomberg. The dispute escalated after the US withdrew in July from a 2019 agreement that had suspended dumping investigations. That deal had required a minimum price for tomato imports at their first point of sale in the US, effectively acting as a safeguard for American growers. Its collapse re-opened the door to duties and reignited trade tensions.&nbsp;Under the new Mexican decree, the minimum prices imply a sharp jump, almost 40 per cent for round “bola” tomatoes and 26 per cent for cherry and grape varieties. This increase, as noted by Juan Carlos Anaya of Mexico City’s Agricultural Markets Consulting Group in comments to Imagen Radio, is even greater than the US duty itself.<h2>Political and economic stakes</h2>Tomatoes are one of Mexico’s most valuable agricultural exports to the US, making the dispute politically sensitive and economically significant. For Mexican farmers, setting a price floor may cushion the impact of US duties and secure more predictable market access, while for American growers, it may address concerns over price undercutting.&nbsp;Still, the 90-day window before Trump’s delayed tariff hike expires leaves little time for both sides to reach a permanent deal. Without one, the tomato dispute risks becoming another flashpoint in a broader pattern of agricultural and manufacturing trade tensions between Washington and Mexico City.&nbsp;(With inputs from the agencies)

The move, which comes amid a 90 day delay in broader US tariff hikes, raises prices by up to 40% for some varieties and aims to ease tensions before talks expire potentially averting another flashpoint in agricultural trade.

Mexico has moved to set minimum export prices for fresh tomatoes bound for the United States in an effort to ease tensions after Washington imposed anti-dumping duties. According to Bloomberg, the new pricing floor aims to restore full access to the US market and prevent what Mexican officials called “distortion in the prices” of tomato exports. Why Mexico acted now? The move follows the Trump administration’s decision to impose an anti-dumping duty of over 17 per cent last month after accusing Mexican growers of selling tomatoes at unfairly low prices. US growers had long argued that cheap imports were undercutting domestic producers. While the US Commerce Department announced the duty, President Donald Trump delayed a broader tariff hike for 90 days to leave room for negotiations on a fresh trade agreement. “The Mexican government is trying to help growers avoid an increase in anti-dumping duties in the future,” Georgina Felix, director of operations at the Arizona-based Fresh Produce Association of the Americas, told Bloomberg. The dispute escalated after the US withdrew in July from a 2019 agreement that had suspended dumping investigations. That deal had required a minimum price for tomato imports at their first point of sale in the US, effectively acting as a safeguard for American growers. Its collapse re-opened the door to duties and reignited trade tensions. Under the new Mexican decree, the minimum prices imply a sharp jump, almost 40 per cent for round “bola” tomatoes and 26 per cent for cherry and grape varieties. This increase, as noted by Juan Carlos Anaya of Mexico City’s Agricultural Markets Consulting Group in comments to Imagen Radio, is even greater than the US duty itself. Political and economic stakes Tomatoes are one of Mexico’s most valuable agricultural exports to the US, making the dispute politically sensitive and economically significant. For Mexican farmers, setting a price floor may cushion the impact of US duties and secure more predictable market access, while for American growers, it may address concerns over price undercutting. Still, the 90-day window before Trump’s delayed tariff hike expires leaves little time for both sides to reach a permanent deal. Without one, the tomato dispute risks becoming another flashpoint in a broader pattern of agricultural and manufacturing trade tensions between Washington and Mexico City. (With inputs from the agencies)

As the US-Mexico tomato trade dispute heats up, Mexico has introduced minimum export prices for fresh tomatoes headed to the US in a bid to counter Washington’s 17% anti-dumping duty and restore full market access.

Mexico hikes tomato export prices to dodge Trump’s 17% tariff

The latest readings suggest that President Donald Trump’s higher import duties, part of his ongoing trade crackdowns are starting to work their way into consumer prices. Bloomberg notes that a separate measure of core services inflation remains tame for now, but economists expect gradual increases in the coming months. For the Federal Reserve, this creates a policy challenge. Officials have kept interest rates unchanged in 2025, seeking clarity on whether tariffs will cause sustained inflation. But they must also weigh signs of a cooling labour market, the other half of their dual mandate.<h2>Consumers still spending, for now</h2>Retail sales data due Friday is expected to show a solid July increase, boosted by incentives on vehicle purchases and online shopping spikes during Amazon’s Prime Day. However, Bloomberg reports that once adjusted for inflation, the figures may point to a more lacklustre consumer spending environment. Manufacturing data from the Fed is likely to show stagnant factory output as producers navigate shifting tariff rules. Meanwhile, a preliminary US–China trade truce is set to expire on Tuesday, although an extension remains possible.<h2>Global markets eye central bank's move&nbsp;</h2>Beyond the US, Bloomberg notes that the Bank of Canada will publish minutes from its decision to hold rates at 2.75 per cent for a third meeting, while leaving the door open for cuts if inflation remains contained. July home sales data will also indicate whether recent gains have continued. Asia’s economic calendar is packed, with China releasing July activity data, including industrial production, retail sales, and jobless figures on Friday. Australia’s central bank is expected to cut rates for a third time this year, while India’s CPI and wholesale price data will offer fresh insight into price trends before Trump’s 50 per cent tariff on Indian goods fully kicks in.&nbsp;In Europe, the UK will release wage growth and GDP figures in the wake of the Bank of England’s latest rate cut, while Switzerland’s economy may show a sudden contraction even before Trump’s 39 per cent tariff impact takes hold. Africa and Latin America will also see rate decisions and inflation reports, with Brazil, Argentina, and Chile updating price data, and Kenya, Uganda, and Namibia adjusting policy to manage growth and price stability.&nbsp;The coming week’s data, as per Bloomberg, will help clarify whether the US inflation uptick is temporary or the start of a broader trend. If tariffs continue to feed through to consumer prices, the Fed may face mounting pressure to act, even as global markets adjust to a wave of central bank decisions and shifting trade policies.&nbsp;(With input from the agencies)&nbsp;

Trump 50% tariff on Indian goods and levies on other nations are reshaping global markets, from US inflation pressures to rate decisions in Asia, Europe, and Latin America. This week data will test how far the ripple effects go.

The latest readings suggest that President Donald Trump’s higher import duties, part of his ongoing trade crackdowns are starting to work their way into consumer prices. Bloomberg notes that a separate measure of core services inflation remains tame for now, but economists expect gradual increases in the coming months. For the Federal Reserve, this creates a policy challenge. Officials have kept interest rates unchanged in 2025, seeking clarity on whether tariffs will cause sustained inflation. But they must also weigh signs of a cooling labour market, the other half of their dual mandate. Consumers still spending, for now Retail sales data due Friday is expected to show a solid July increase, boosted by incentives on vehicle purchases and online shopping spikes during Amazon’s Prime Day. However, Bloomberg reports that once adjusted for inflation, the figures may point to a more lacklustre consumer spending environment. Manufacturing data from the Fed is likely to show stagnant factory output as producers navigate shifting tariff rules. Meanwhile, a preliminary US–China trade truce is set to expire on Tuesday, although an extension remains possible. Global markets eye central bank's move Beyond the US, Bloomberg notes that the Bank of Canada will publish minutes from its decision to hold rates at 2.75 per cent for a third meeting, while leaving the door open for cuts if inflation remains contained. July home sales data will also indicate whether recent gains have continued. Asia’s economic calendar is packed, with China releasing July activity data, including industrial production, retail sales, and jobless figures on Friday. Australia’s central bank is expected to cut rates for a third time this year, while India’s CPI and wholesale price data will offer fresh insight into price trends before Trump’s 50 per cent tariff on Indian goods fully kicks in. In Europe, the UK will release wage growth and GDP figures in the wake of the Bank of England’s latest rate cut, while Switzerland’s economy may show a sudden contraction even before Trump’s 39 per cent tariff impact takes hold. Africa and Latin America will also see rate decisions and inflation reports, with Brazil, Argentina, and Chile updating price data, and Kenya, Uganda, and Namibia adjusting policy to manage growth and price stability. The coming week’s data, as per Bloomberg, will help clarify whether the US inflation uptick is temporary or the start of a broader trend. If tariffs continue to feed through to consumer prices, the Fed may face mounting pressure to act, even as global markets adjust to a wave of central bank decisions and shifting trade policies. (With input from the agencies)

As US tariffs push some prices higher, the Fed faces a tough call: act against potential inflation or hold rates amid signs of economic slowdown. Global markets brace for a week of key central bank moves and trade policy shifts.

US inflation set to tick higher as Trump tariffs hit consumers

India’s bid to close the gap with China’s stock market could be slipping further out of reach, thanks to the US President Donald Trump’s latest tariff escalation. India’s equity market now trails onshore China’s by $6.3 trillion, the widest gap since March, as per Bloomberg. The MSCI India Index has reportedly underperformed its Chinese counterpart by 10 percentage points this quarter and is heading for its biggest annual lag since 2017.<h2>Tariffs hit India harder</h2>President Trump announced a 50 per cent tariff on Indian exports to the US, half of which is effectively a penalty for India’s purchases of Russian oil. While New Delhi was singled out, China, which imports far more from Moscow has largely been spared. Beijing, according to Bloomberg, is instead waiting for an extension of its trade truce with Washington.This selective targeting has reportedly shaken investor sentiment towards India, already under pressure from high stock valuations and slowing earnings growth. Last month alone, foreign investors pulled about $3 billion from Indian equities, the biggest monthly outflow since February, as per Bloomberg data.&nbsp;Despite the near-term challenges, India’s growth prospects remain appealing. Morgan Stanley, as per Bloomberg, still sees Indian equities climbing to new highs over the coming decades, driven by population growth and infrastructure development. Veteran emerging-market investor Mark Mobius told Bloomberg TV that any market correction could be a buying opportunity, with the US tariff battle likely to have only a “short-lived” psychological effect. Domestic institutional investors have also stepped in, pouring about $50 billion into Indian equities, according to exchange data compiled by Bloomberg. Along with retail investors, they now control a bigger slice of the $5.2 trillion market than foreign funds, which could help cushion against sharp selloffs.<h2>Wall Street tilts toward China</h2>Global investment houses are taking note. Goldman Sachs, as quoted by Bloomberg, has maintained a “marketweight” stance on Indian equities while upgrading its 12-month target for Chinese stocks and keeping an “overweight” view on them.&nbsp;The reversal is striking. Just a few years ago, China was labelled “uninvestable” due to regulatory crackdowns and geopolitical risks, leading many funds to pivot towards India as a safer bet. Now, India faces its own set of headwinds: trade friction with the US, softer corporate earnings, and expensive valuations. Anna Wu, a cross-asset strategist at VanEck in Sydney, told Bloomberg that China’s shares are likely to outperform Indian peers in the coming quarters. She cited easing trade tensions in Beijing, government “anti-involution” policies, and advances in artificial intelligence, such as the DeepSeek breakthrough earlier this year, as factors supporting Chinese markets.&nbsp;Meanwhile, Beijing is not without its own troubles. UBS has delayed its forecast for a property market recovery after second-quarter sales weakened. While GDP growth exceeded expectations, deflation risks and sluggish consumer spending remain concerns. Yet for global investors, China’s market still offers access to high-growth sectors such as AI, clean energy, and biotech at more attractive price levels. Bloomberg notes that the MSCI India gauge trades at over 21 times its one-year forward earnings, compared to just 11.9 times for China’s equivalent index.<h2>Trade rift could impact India’s manufacturing ambitions</h2>The tariff escalation also threatens Prime Minister Narendra Modi’s goal of positioning India as a manufacturing alternative to China. As quoted by Bloomberg, Andrei Stetsenko of Farley Capital LP warned that Trump’s pressure campaign risks deepening Indian resentment, potentially damaging what had been a strengthening US-India partnership built on shared concerns over China.&nbsp;Until trade tensions ease, analysts like Nomura’s Chetan Seth expect Indian equities to remain sidelined in regional portfolios, with more foreign fund selling possible in the months ahead.&nbsp;(With input from the agencies)&nbsp;&nbsp;

Trump 50% tariff on Indian exports, partly over Russian oil, hits investor sentiment and threatens India’s manufacturing ambitions, while global funds shift toward cheaper Chinese equities.

India’s bid to close the gap with China’s stock market could be slipping further out of reach, thanks to the US President Donald Trump’s latest tariff escalation. India’s equity market now trails onshore China’s by $6.3 trillion, the widest gap since March, as per Bloomberg. The MSCI India Index has reportedly underperformed its Chinese counterpart by 10 percentage points this quarter and is heading for its biggest annual lag since 2017. Tariffs hit India harder President Trump announced a 50 per cent tariff on Indian exports to the US, half of which is effectively a penalty for India’s purchases of Russian oil. While New Delhi was singled out, China, which imports far more from Moscow has largely been spared. Beijing, according to Bloomberg, is instead waiting for an extension of its trade truce with Washington.This selective targeting has reportedly shaken investor sentiment towards India, already under pressure from high stock valuations and slowing earnings growth. Last month alone, foreign investors pulled about $3 billion from Indian equities, the biggest monthly outflow since February, as per Bloomberg data. Despite the near-term challenges, India’s growth prospects remain appealing. Morgan Stanley, as per Bloomberg, still sees Indian equities climbing to new highs over the coming decades, driven by population growth and infrastructure development. Veteran emerging-market investor Mark Mobius told Bloomberg TV that any market correction could be a buying opportunity, with the US tariff battle likely to have only a “short-lived” psychological effect. Domestic institutional investors have also stepped in, pouring about $50 billion into Indian equities, according to exchange data compiled by Bloomberg. Along with retail investors, they now control a bigger slice of the $5.2 trillion market than foreign funds, which could help cushion against sharp selloffs. Wall Street tilts toward China Global investment houses are taking note. Goldman Sachs, as quoted by Bloomberg, has maintained a “marketweight” stance on Indian equities while upgrading its 12-month target for Chinese stocks and keeping an “overweight” view on them. The reversal is striking. Just a few years ago, China was labelled “uninvestable” due to regulatory crackdowns and geopolitical risks, leading many funds to pivot towards India as a safer bet. Now, India faces its own set of headwinds: trade friction with the US, softer corporate earnings, and expensive valuations. Anna Wu, a cross-asset strategist at VanEck in Sydney, told Bloomberg that China’s shares are likely to outperform Indian peers in the coming quarters. She cited easing trade tensions in Beijing, government “anti-involution” policies, and advances in artificial intelligence, such as the DeepSeek breakthrough earlier this year, as factors supporting Chinese markets. Meanwhile, Beijing is not without its own troubles. UBS has delayed its forecast for a property market recovery after second-quarter sales weakened. While GDP growth exceeded expectations, deflation risks and sluggish consumer spending remain concerns. Yet for global investors, China’s market still offers access to high-growth sectors such as AI, clean energy, and biotech at more attractive price levels. Bloomberg notes that the MSCI India gauge trades at over 21 times its one-year forward earnings, compared to just 11.9 times for China’s equivalent index. Trade rift could impact India’s manufacturing ambitions The tariff escalation also threatens Prime Minister Narendra Modi’s goal of positioning India as a manufacturing alternative to China. As quoted by Bloomberg, Andrei Stetsenko of Farley Capital LP warned that Trump’s pressure campaign risks deepening Indian resentment, potentially damaging what had been a strengthening US-India partnership built on shared concerns over China. Until trade tensions ease, analysts like Nomura’s Chetan Seth expect Indian equities to remain sidelined in regional portfolios, with more foreign fund selling possible in the months ahead. (With input from the agencies)

US tariffs have widened India’s stock market underperformance against China to the biggest gap in five months, as foreign investors retreat and Wall Street tilts toward Beijing.

Trump tariffs threaten to widen $6.3 trillion gap between China and India markets

US President Donald Trump said on Thursday (Aug 7) that his tariff regime has begun, and money is now flowing into America. In a social media post, the US president said that countries that have taken advantage of the US for many years will now pay. He also slammed the US courts, saying that "only a radical left court" wants to see the country fall. Just before midnight, he had declared in a social media post that 'reciprocal tariffs take effect at midnight tonight'. On August 1, Trump issued an executive order late on Thursday (July 31) to increase and modify tariffs on its trading partners, citing an ongoing national emergency. This was in continuation of his ‘Liberation Day’ tariffs that he announced on April 2. He had paused the April 2 tariffs, giving countries a window of 90 days to sign a trade deal with America. The new tariff structure ranged from 10 per cent to 41 per cent, depending on the country and product type. He then announced additional tariffs on India for buying Russian oil and warned about doing the same with other nations.

<h2>Trump's additional 25 per cent tariff on India</h2>Trump signed an executive order on Wednesday (Aug 6) announcing that India will face an extra 25 per cent tariff over and above the 25 per cent rate announced last week. While the 25 per cent rate is effective from August 7, 2025, the newly announced additional tariff will come into place 21 days from now. "The ad valorem duty imposed...shall be in addition to any other duties, fees, taxes, exactions, and charges applicable to such imports...," the order said. "I find that the Government of India is currently directly or indirectly importing Russian Federation oil. Accordingly, and as consistent with applicable law, articles of India imported into the customs territory of the United States shall be subject to an additional ad valorem rate of duty of 25 percent," it said.&nbsp;The Ministry of External Affairs reacted to the additional import tariff and called it “unfair, unjustified and unreasonable”, adding that “India will take all actions necessary to protect its national interests”. "The United States has in recent days targeted India’s oil imports from Russia. We have already made clear our position on these issues, including the fact that our imports are based on market factors and done with the overall objective of ensuring the energy security of 1.4 billion people of India," said the MEA in its statement.

US President Trump announced the start of his tariff regime, claiming it brings money into the US. He criticised countries for exploiting the US and slammed a "radical left" court. He added that reciprocal tariffs would take effect at midnight.

US President Donald Trump said on Thursday (Aug 7) that his tariff regime has begun, and money is now flowing into America. In a social media post, the US president said that countries that have taken advantage of the US for many years will now pay. He also slammed the US courts, saying that "only a radical left court" wants to see the country fall. Just before midnight, he had declared in a social media post that 'reciprocal tariffs take effect at midnight tonight'. On August 1, Trump issued an executive order late on Thursday (July 31) to increase and modify tariffs on its trading partners, citing an ongoing national emergency. This was in continuation of his ‘Liberation Day’ tariffs that he announced on April 2. He had paused the April 2 tariffs, giving countries a window of 90 days to sign a trade deal with America. The new tariff structure ranged from 10 per cent to 41 per cent, depending on the country and product type. He then announced additional tariffs on India for buying Russian oil and warned about doing the same with other nations.

US President Trump announced the start of his tariff regime, claiming it brings money into the US. He criticised countries for exploiting the US and slammed a "radical left" court. He added that reciprocal tariffs would take effect at midnight.

'IT’S MIDNIGHT': Trump tariffs in effect NOW, US president points out only thing stopping America's 'greatness'

United States President Donald Trump on Tuesday (Aug 5) said that he does not know about his country's trade with Russia. His response came when he was asked about America's business with Russia, amid his continuous criticism of India's trade with Russia. Trump on Tuesday, threatened India, saying he would raise the tariff on the country “very substantially over the next 24 hours” due to its purchase of Russian oil. On Monday, Trump had warned that he would raise the tariff on India “substantially”, saying that India was not only buying “massive amounts of Russian oil” but also selling it “on the open market for big profits”. However, in response, the Ministry of External Affairs (MEA) called Trump's comments ‘unjustified and unreasonable’ and stated that it was the US that had encouraged India to buy oil from Russia after the start of the war in Ukraine in February 2022, because such purchases helped stabilise global energy markets. Trump had imposed a 25 per cent tariff on India on July 30.&nbsp;On Tuesday's press briefing, Trump was asked by Indian news agency ANI: "India says that the US imports Russian uranium, fertilisers, while criticising their energy imports, what is your comment on this?" The US president dodged the question, stating that he is not aware of it. “I don't know anything about it. I will have to check, but I will get back to you on it.” Trump also said that he never specified the exact rate of tariffs he would impose on countries doing business with Russia. "I never said a percentage, but we'll be doing quite a bit of that. We'll see what happens over the next fairly short period of time. But we will see what happens...", Trump added.

<blockquote class="twitter-tweet" data-media-max-width="560">Reporter: India says US imports Russian Uranium, chemicals and fertilisers while criticising India’s energy imports from Russia Donald Trump: I don&#39;t know anything about that. I have to check. Will get back to you (Source: US Network Pool via Reuters)<a href="https://twitter.com/hashtag/DonaldTrump?src=hash&amp;ref_src=twsrc%5Etfw">#DonaldTrump</a> <a href="https://twitter.com/hashtag/India?src=hash&amp;ref_src=twsrc%5Etfw">#India</a>… <a href="https://t.co/Cznym3hgA9">pic.twitter.com/Cznym3hgA9</a>&mdash; WION (@WIONews) <a href="https://twitter.com/WIONews/status/1952928570612806102?ref_src=twsrc%5Etfw">August 6, 2025</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

<h2>India's response to Trump's continuous threats</h2>New Delhi, in its response to the White House, argued that it was the US that had encouraged India to buy oil from Russia after the start of the war in Ukraine in February 2022, as such purchases helped stabilise global energy markets. “Like any major economy, India will take all necessary measures to safeguard its national interests and economic security.” “We make decisions based on the price at which oil is available in the international market, and depending on the global situation at that time,” Randhir Jaiswal, the spokesperson of the MEA, told journalists in New Delhi on Friday. The MEA statement also highlighted that the US and Europe import several items from Russia while they continue to demand the suspension of India-Russia trade. “Where the United States is concerned, it continues to import from Russia uranium hexafluoride for its nuclear industry, palladium for its EV industry, fertilisers as well as chemicals…Europe-Russia trade includes not just energy, but also fertilisers, mining products, chemicals, iron and steel and machinery and transport equipment.,” the statement said.

<blockquote class="twitter-tweet">Statement by Official Spokesperson⬇️ 🔗 <a href="https://t.co/O2hJTOZBby">https://t.co/O2hJTOZBby</a> <a href="https://t.co/RTQ2beJC0W">pic.twitter.com/RTQ2beJC0W</a>&mdash; Randhir Jaiswal (@MEAIndia) <a href="https://twitter.com/MEAIndia/status/1952412858567844061?ref_src=twsrc%5Etfw">August 4, 2025</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

US President Donald Trump on Tuesday (local time) stated that he had no knowledge that the United States imports Russian chemicals and fertilisers. His statement came when he was asked about his country's business with Russia as he continues his attack on India over Russian trade 

United States President Donald Trump on Tuesday (Aug 5) said that he does not know about his country's trade with Russia. His response came when he was asked about America's business with Russia, amid his continuous criticism of India's trade with Russia. Trump on Tuesday, threatened India, saying he would raise the tariff on the country “very substantially over the next 24 hours” due to its purchase of Russian oil. On Monday, Trump had warned that he would raise the tariff on India “substantially”, saying that India was not only buying “massive amounts of Russian oil” but also selling it “on the open market for big profits”. However, in response, the Ministry of External Affairs (MEA) called Trump's comments ‘unjustified and unreasonable’ and stated that it was the US that had encouraged India to buy oil from Russia after the start of the war in Ukraine in February 2022, because such purchases helped stabilise global energy markets. Trump had imposed a 25 per cent tariff on India on July 30. On Tuesday's press briefing, Trump was asked by Indian news agency ANI: "India says that the US imports Russian uranium, fertilisers, while criticising their energy imports, what is your comment on this?" The US president dodged the question, stating that he is not aware of it. “I don't know anything about it. I will have to check, but I will get back to you on it.” Trump also said that he never specified the exact rate of tariffs he would impose on countries doing business with Russia. "I never said a percentage, but we'll be doing quite a bit of that. We'll see what happens over the next fairly short period of time. But we will see what happens...", Trump added.

US President Donald Trump on Tuesday (local time) stated that he had no knowledge that the United States imports Russian chemicals and fertilisers. His statement came when he was asked about his country's business with Russia as he continues his attack on India over Russian trade&nbsp;

I don't...: Trump's SHOCKING response to India's claim about US-Russia uranium and fertilizer trade

Congress MP Shashi Tharoor has warned that US President Donald Trump’s decision to impose an additional 25% tariff on Indian goods could severely hurt India’s exports to the American market. “I don’t think that’s particularly good news for us, and that takes our total tariffs to 50 per cent. Then that’s going to make our goods unaffordable to a lot of people in America,” Tharoor told reporters on Thursday.Also read: <a href="https://www.wionews.com/india-news/india-reacts-to-trump-s-additional-25-per-cent-tariff-unreasonable-unjustified-1754493361197">India reacts to Donald Trump's additional 25 per cent tariff: 'Unreasonable'</a><h2>Competitors could gain from India’s loss</h2>Tharoor cautioned that higher duties would make Indian products less competitive compared to other Asian exporters. “In particular, when you’re looking at these percentages, you have to compare them with the tariffs being levied on some of our competitors. I’m afraid that if you look at people like Vietnam, Indonesia, Philippines, even Bangladesh and Pakistan have lower tariffs than us. Then ultimately, people will not be buying goods from us in America if they can buy them cheaper elsewhere. So that’s not very good for our exports to America,” he said.<h2>Push to diversify export markets</h2>The Congress MP urged India to urgently expand its trade partnerships beyond the US. “This means we need to very seriously diversify to other countries and other markets that may be interested in what we have to offer. We now have an FTA with the UK. We are talking to the EU. There are many countries in which hopefully we would be able to, but in the short term, it is definitely a blow,” Tharoor added.<h2>New Delhi calls tariffs ‘unfair and unreasonable’</h2>India’s Ministry of External Affairs condemned the new tariffs, calling them “unfair, unjustified and unreasonable.” “We have already made clear our position on these issues, including the fact that our imports are based on market factors and done with the overall objective of ensuring the energy security of 1.4 billion people of India,” the MEA said in a statement. “It is therefore extremely unfortunate that the US should choose to impose additional tariffs on India for actions that several other countries are also taking in their own national interest,” it added.<h2>Tariffs linked to Russia trade and BRICS membership</h2>The fresh duties come on top of a 25% tariff introduced on 1 August, with the new levy to take effect 21 days later. The combined 50% rate will apply to most Indian goods, except a small exemption list. Trump said the penalties were linked to India’s continued imports of Russian oil and military products, as well as its participation in the BRICS bloc, which he described as “anti-American.” The move is part of Washington’s wider pressure campaign on Moscow to agree to a ceasefire in Ukraine.

Congress MP Shashi Tharoor warned that US President Trump’s new 25% tariff on Indian goods, raising total duties to 50%, could hurt exports, benefit competitors, and push India to diversify trade markets.

Congress MP Shashi Tharoor has warned that US President Donald Trump’s decision to impose an additional 25% tariff on Indian goods could severely hurt India’s exports to the American market. “I don’t think that’s particularly good news for us, and that takes our total tariffs to 50 per cent. Then that’s going to make our goods unaffordable to a lot of people in America,” Tharoor told reporters on Thursday. Also read: India reacts to Donald Trump's additional 25 per cent tariff: 'Unreasonable' Competitors could gain from India’s loss Tharoor cautioned that higher duties would make Indian products less competitive compared to other Asian exporters. “In particular, when you’re looking at these percentages, you have to compare them with the tariffs being levied on some of our competitors. I’m afraid that if you look at people like Vietnam, Indonesia, Philippines, even Bangladesh and Pakistan have lower tariffs than us. Then ultimately, people will not be buying goods from us in America if they can buy them cheaper elsewhere. So that’s not very good for our exports to America,” he said. Push to diversify export markets The Congress MP urged India to urgently expand its trade partnerships beyond the US. “This means we need to very seriously diversify to other countries and other markets that may be interested in what we have to offer. We now have an FTA with the UK. We are talking to the EU. There are many countries in which hopefully we would be able to, but in the short term, it is definitely a blow,” Tharoor added. New Delhi calls tariffs ‘unfair and unreasonable’ India’s Ministry of External Affairs condemned the new tariffs, calling them “unfair, unjustified and unreasonable.” “We have already made clear our position on these issues, including the fact that our imports are based on market factors and done with the overall objective of ensuring the energy security of 1.4 billion people of India,” the MEA said in a statement. “It is therefore extremely unfortunate that the US should choose to impose additional tariffs on India for actions that several other countries are also taking in their own national interest,” it added. Tariffs linked to Russia trade and BRICS membership The fresh duties come on top of a 25% tariff introduced on 1 August, with the new levy to take effect 21 days later. The combined 50% rate will apply to most Indian goods, except a small exemption list. Trump said the penalties were linked to India’s continued imports of Russian oil and military products, as well as its participation in the BRICS bloc, which he described as “anti-American.” The move is part of Washington’s wider pressure campaign on Moscow to agree to a ceasefire in Ukraine.

Congress MP Shashi Tharoor warned that US President Trump’s new 25% tariff on Indian goods, raising total duties to 50%, could hurt exports, benefit competitors, and push India to diversify trade markets.

Tharoor warns Trump’s 50% tariff will make Indian goods ‘unaffordable’ in US

United States President Donald Trump on Tuesday (Aug 6) clarified his ‘penalty’ announcement on countries trading with Russia, stating that he has not yet specified a percentage. He had previously said that countries trading with Russia will face additional tariffs as a ‘penalty’ for engaging with Moscow, despite US sanctions. The &nbsp;US president made the remarks during a press conference at the White House, originally called to discuss the 2028 Los Angeles Olympics. The POTUS was asked about imposing a 100% tariff on countries buying Russian energy.&nbsp;Trump responded, "I never said a percentage, but we'll be doing quite a bit of that. We'll see what happens over the next fairly short period of time... We have a meeting with Russia tomorrow. We're going to see what happens..." He was also asked about America's trade with Russia amid his threat to India for buying Russian oil. The POTUS seemed to dodge the question and said that he is not aware of his country's imports from Russia. Trump has been issuing multiple warnings to India since last week over its trade with Moscow, adding that he would impose very substantial tariff "over the next 24 hours.” Last week, he had also called India and Russia's economy ‘dead.’&nbsp;Donald Trump’s special envoy Steve Witkoff is in Moscow days before the US president’s deadline on Friday for Russia to make progress on ending the war in Ukraine. When asked what message Witkoff would take to Russia and what Vladimir Putin could do to avoid new sanctions, the US president answered: “Yeah, get a deal where people stop getting killed.” US president's statement hints that he would take the decision after Witkoff's meeting with Russian leaders.

<blockquote class="twitter-tweet" data-media-max-width="560"><a href="https://twitter.com/hashtag/WATCH?src=hash&amp;ref_src=twsrc%5Etfw">#WATCH</a> | On being asked about imposing 100% tariffs on all countries that purchase Russian energy, including China, US President Donald Trump says, &quot;I never said a percentage, but we&#39;ll be doing quite a bit of that. We&#39;ll see what happens over the next fairly short period of… <a href="https://t.co/qHOVywQ9TW">pic.twitter.com/qHOVywQ9TW</a>&mdash; ANI (@ANI) <a href="https://twitter.com/ANI/status/1952846659333054533?ref_src=twsrc%5Etfw">August 5, 2025</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

US President Donald Trump said that he never specified the exact rate of tariffs he would impose on countries doing business with Russia. He hinted that his decision would come after the meeting between Steve Witkoff and Russian leaders 

United States President Donald Trump on Tuesday (Aug 6) clarified his ‘penalty’ announcement on countries trading with Russia, stating that he has not yet specified a percentage. He had previously said that countries trading with Russia will face additional tariffs as a ‘penalty’ for engaging with Moscow, despite US sanctions. The US president made the remarks during a press conference at the White House, originally called to discuss the 2028 Los Angeles Olympics. The POTUS was asked about imposing a 100% tariff on countries buying Russian energy. Trump responded, "I never said a percentage, but we'll be doing quite a bit of that. We'll see what happens over the next fairly short period of time... We have a meeting with Russia tomorrow. We're going to see what happens..." He was also asked about America's trade with Russia amid his threat to India for buying Russian oil. The POTUS seemed to dodge the question and said that he is not aware of his country's imports from Russia. Trump has been issuing multiple warnings to India since last week over its trade with Moscow, adding that he would impose very substantial tariff "over the next 24 hours.” Last week, he had also called India and Russia's economy ‘dead.’ Donald Trump’s special envoy Steve Witkoff is in Moscow days before the US president’s deadline on Friday for Russia to make progress on ending the war in Ukraine. When asked what message Witkoff would take to Russia and what Vladimir Putin could do to avoid new sanctions, the US president answered: “Yeah, get a deal where people stop getting killed.” US president's statement hints that he would take the decision after Witkoff's meeting with Russian leaders.

US President Donald Trump said that he never specified the exact rate of tariffs he would impose on countries doing business with Russia. He hinted that his decision would come after the meeting between Steve Witkoff and Russian leaders&nbsp;

Will US impose 100% tariffs on countries purchasing Russian energy? Trump REVEALS his plans amid Witkoff's Moscow visit

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India faces record-high US tariff rate, exports worth $87 billion at risk

Trump hits out at Goldman Sachs CEO over tariff research

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