US Treasury calls on G7, EU to impose tariffs on China, India over Russian oil purchases

The U.S. Treasury is urging G7 and EU allies to impose tariffs on goods from China and India to curb their Russian oil purchases, aiming to cut off funding for Russia’s war in Ukraine. An emergency G7 finance meeting is convened to discuss escalating pressure on Moscow.

Sona Comstar’s CEO, Vivek Vikram Singh, is urging government intervention to address rare earth metal supply constraints from China, impacting auto component production. The company faced production losses and is using less efficient alternatives. Singh also lauded recent GST rate cuts as a boost for the industry and emphasized the importance of the India-EU FTA […]

India and the European Union are actively pursuing a comprehensive free trade agreement, aiming to finalize negotiations by the end of December. Both sides are engaged in intensive discussions to create a balanced and mutually beneficial partnership that encourages innovation and strengthens supply chains.

The EU and India are negotiating a trade agreement. This agreement aims to boost trade by removing tariffs on auto parts. Maros Sefcovic says this will help both economies. The deal could bring new technology to India. It may also help develop better combustion engines and electric vehicles. Both sides want to finalise the deal […]

FIEO urged the RBI to address challenges faced by exporters, including rising tariffs and demand volatility. They requested flexible credit solutions, extended credit periods, and a moratorium on loan repayments. FIEO also proposed a government-backed credit scheme for SMEs and a dedicated export credit target within priority sector lending to improve financial access and global […]

A senior government official stated that the proposed trade pact with the EU presents significant opportunities for the Indian auto industry to increase exports and establish partnerships with major European automobile manufacturers. The agreement aims to balance market access while safeguarding domestic sectors, with gradual opening over 5-15 years.

Sergio Gor, President Trump’s nominee for U.S. ambassador to India, stated during his Senate confirmation hearing that the United States and India are close to reaching an agreement on tariffs. Gor, a close aide to Trump, expressed optimism about resolving the tariff issue between the two nations. He is currently the director of the White […]

India and the US are natural partners, Modi said on Wednesday in response to Trump’s conciliatory post, in which he described the Prime Minister as a “dear friend,” and suggested fresh momentum in stalled trade negotiations. “India and the US are close friends,” Modi wrote on X. “I am confident our trade negotiations will pave […]

India and the EU are engaged in advanced FTA negotiations, addressing stringent standards and non-tariff barriers impacting Indian exports. The EU seeks greater certainty in financial services and shipping. India prioritizes duty-free access, simpler procedures, and easier compliance, while both sides navigate challenges like the Carbon Border Adjustment Mechanism. An India-EFTA agreement is expected by […]

India is actively engaged in trade negotiations with the US, aiming for a mutually beneficial agreement, according to Commerce Minister Piyush Goyal. Discussions are also underway with New Zealand and the European Union, with a trade pact with Oman expected soon.