All posts tagged: international trade

Key Takeaways on Ukraine, Iran, Migration and India

Key Takeaways on Ukraine, Iran, Migration and India

From June 15 to 17, world leaders came together in France for the G7 (Group of Seven) meeting amid rising geopolitical tensions and economic instability. The meeting focused on the Russia-Ukraine war, the tensions in West Asia, artificial intelligence (AI) and global trade disruptions.  The G7, an informal forum of leading industrialised nations, comprises Canada, France, Germany, Italy, Japan, the UK and the US. Ukrainian President Volodymyr Zelenskyy’s presence at the 52nd edition of the summit drew global attention, amid renewed efforts to bring a resolution to the Russia-Ukraine war, now in its fifth year.  India also participated in the event, with Prime Minister Narendra Modi flagging concerns over the safety of Indian seafarers in the Strait of Hormuz, after attacks on commercial ships by the US Navy killed three Indians. Following three days of discussions, the G7 leaders released statements on major topics such as human trafficking, geopolitical issues and rebuilding international partnerships.  Here’s a look at what G7 brings for the world, what it means for India, and the developments to watch going …

Tariff wars and social progress: The 2025 perspective

Tariff wars and social progress: The 2025 perspective

In 2025, the resurgence of tariff wars among major global economies—particularly between the US, China, the EU and India—has led to significant disruptions in international trade and economic cooperation. These conflicts have been ignited by disputes over digital trade policies, green technology subsidies, and supply chain sovereignty. While much attention has been paid to trade deficits and economic power balances, the broader societal impacts remain critically under-discussed. The 2025 tariff wars are exacerbating global challenges such as educational equity, poverty alleviation, and environmental sustainability, with consequences that may outlast the trade disputes themselves. U.S. President Donald Trump (REUTERS) As nations like the US and China increase tariffs on key imports and retaliate against each other’s goods, public revenues are being squeezed by slowed economic activity. In 2025, the International Monetary Fund reported a global Gross Domestic Product (GDP) contraction of 1.2% directly linked to tariff escalations, with emerging economies bearing the brunt. This economic stagnation is straining education budgets worldwide. Countries like Brazil and South Africa, reliant on trade with China and the EU, have …

Trump Calls for CHIPS Act Repeal, Slams ‘Horrible’ Subsidies

Trump Calls for CHIPS Act Repeal, Slams ‘Horrible’ Subsidies

Image: Gage Skidmore U.S. President Donald Trump has called on Congress to “get rid of” the 2022 CHIPS and Science Act, arguing the semiconductor funding law funnels billions to foreign companies without meaningful returns for the U.S. Speaking during a joint address to Congress on March 4, Trump criticized the act’s $39 billion in semiconductor manufacturing incentives, particularly funds allocated to Taiwanese chip giant TSMC. Trump targets TSMC “We’re not giving them any money,” Trump said, referring to Taiwanese chipmaker TSMC. “Your CHIPS Act is a horrible, horrible thing. We give hundreds of billions of dollars. It doesn’t mean anything. All that was important was they didn’t want to pay the tariffs.” His remarks came soon after TSMC announced plans to expand its U.S. operations with three new fabrication plants, two advanced packaging facilities and a major R&D team center — an ambitious $165 billion investment. The company, which supplies semiconductors to Apple, NVIDIA, AMD, Broadcom, and Qualcomm, has already established a facility in Phoenix under the CHIPS Act but has faced repeated delays. “You …

Trump pauses Mexico tariffs: What did president Sheinbaum say? | World News

Trump pauses Mexico tariffs: What did president Sheinbaum say? | World News

US President Donald Trump and Mexican President Claudia Sheinbaum announced that their planned tariffs would be put on hold for a month to allow time for further negotiations, reported AP. This follows a call between Trump and Sheinbaum. Sheinbaum was the first to disclose the delay. “We had a good conversation with President Trump with great respect for our relationship and sovereignty,” she wrote on X. She confirmed that Mexico would deploy 10,000 National Guard troops to its northern border to “prevent drug trafficking from Mexico to the United States.” Sheinbaum added that, in return, the US would work to stop the trafficking of high-powered firearms to Mexico, a problem that has long bolstered organised crime in the country. Story continues below this ad Before the tariffs were delayed, Sheinbaum had ordered retaliatory measures, including tariffs on US goods, according to Reuters. She confirmed that her government would continue to protect Mexico’s interests. “I’ve instructed my economy minister to implement the plan B we’ve been working on, which includes tariff and non-tariff measures in defence …

Trump grants tariff relief to Mexico for a month after ‘friendly’ talks with President Sheinbaum – India TV

Trump grants tariff relief to Mexico for a month after ‘friendly’ talks with President Sheinbaum – India TV

Image Source : AP US President Donald Trump. In a significant move, US President Donald Trump has provided immediate relief to Mexico by halting the imposition of tariffs for a month. As per the information, Trump reached this decision following a “friendly and constructive” conversation with Mexican President Claudia Sheinbaum. The announcement was made via Trump’s post on social media platform X. “I just spoke with President Claudia Sheinbaum of Mexico. It was a very friendly conversation wherein she agreed to immediately deploy 10,000 Mexican soldiers on the Border separating Mexico and the United States. These soldiers will be specifically designated to stop the flow of fentanyl and illegal immigrants into our country,” Trump stated in his post. He further mentioned that both sides had mutually agreed to suspend the anticipated tariffs for a one-month period. “During this time, we will engage in discussions led by US Secretary of State Marco Rubio, Treasury Secretary Scott Bessent, and Commerce Secretary Howard Lutnick, along with high-level Mexican representatives. I look forward to participating in these talks with …

EU and Mexico revive stalled trade deal as Trump looms | News Today News

EU and Mexico revive stalled trade deal as Trump looms | News Today News

The European Union and Mexico reignited a stalled upgrade to their free trade deal on Friday, just days before the return to office of US President-elect Donald Trump, who has threatened both sides with tariffs. The two parties are seeking to update their trade accord from 2000, which only covers industrial goods, by adding services, government procurement, investment and farm produce. EU and Mexican negotiators reached an initial deal in 2018, and agreed in 2020 to grant reciprocal market access to each other’s tenders for public contracts. Under the terms agreed in 2020, practically all trade in goods will be duty-free, including for farm products such as Mexican chicken and asparagus and European dairy produce. The deal would, for example, also cut Mexican tariffs of up to 20% on cheeses such as gorgonzola and increase EU pork exports, the Commission has said. It will also allow Mexican companies to bid for government contracts in Europe and EU companies for those in Mexico, including at state level. Mexico, which wants to reduce its reliance on the …