CHINA RETALIATION TARIFFS
G20 foreign ministers to end Atlanta meeting without consensus on key issues
Top diplomats from the G20 nations met in Atlanta, discussing critical global security issues without consensus. Significant divisions arose, particularly regarding Russia's war with Ukraine and the Iran conflict. Instead of a joint communique, a chairman's statement will summarize their discussions. Participants hoped to make the upcoming G20 leaders summit in Florida a success despite disagreements. U.S. Secretary of State Marco Rubio emphasized the need for unity during the conversations.
G20 diplomats, including from China and Russia, face deep rifts as they prepare to meet in Atlanta
Top diplomats from the G20 nations are convening in Atlanta to discuss pressing global issues. Key topics include regional conflicts and trade tensions affecting international security. U.S. Secretary of State Marco Rubio aims to facilitate cooperation among member countries. However, deep divisions are evident, especially regarding military actions and the Ukraine situation. This meeting serves as a precursor to the upcoming G20 summit hosted by President Trump.
Europe’s last penicillin plant faces a bitter fight against China’s cheaper drugs
The Sandoz penicillin plant in Kundl, Austria, is under threat from cheaper Chinese antibiotic production. European healthcare programs benefit from the lower prices, which could jeopardize self-sufficiency. China's share of the EU penicillins market has rapidly increased in recent years. European policymakers are becoming increasingly concerned about reliance on China for essential medicines. The current dynamics highlight the significant trade challenges facing European pharmaceutical manufacturers.
Trump’s 100% Russian oil tariff U-turn has a catch India can’t ignore
GTRI has warned that Donald Trump’s waiver of threatened 100% tariffs on Russian oil buyers offers India only temporary relief, as Washington can reinstate the duties at any time. The think tank cited US purchases of Russian diesel, tariff protection for China and ongoing India-US trade talks as possible reasons for the move. It also urged New Delhi to protect its energy security and avoid permanent trade concessions in exchange for reversible tariff relief.
Catch a bully by its horns: How India can turn the latest round of US visa curbs affecting Indian techies to its advantage
Visa restrictions imposed by the US on Indian IT companies may impact individuals working on temporary visas. Many Indian workers may now have to return to India due to these restrictions. Despite these challenges, returnees present opportunities for India in emerging technologies and industries. Additionally, India's relationship with the US requires strategic actions to maintain balance in trade and diplomacy.
Will EU press the ‘kill switch’ on China? Trade war looms over talks
EU officials are raising alarms over the escalating trade deficits with China, exceeding one billion euros on a daily basis. The spike in Chinese hybrid-car exports underscores possible gaps in EU tariff policies. Although talks are underway, China shows little willingness to engage in voluntary export restrictions for select products. EU leaders are now considering a 'kill switch' mechanism.
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EU, China to hold Beijing talks this week to avert trade war
EU trade chief Maros Sefcovic is set to visit Beijing for crucial discussions regarding trade relations. As European leaders express concerns about unfair competition from Chinese industries, a potential trade war looms. The EU aims to reduce its significant trade deficit with China, which reached around 360 billion euros last year. Sefcovic seeks action on export surges from China and plans to enhance EU's trade defense measures.
From motorcycles to booze, US ban on $1 billion worth of Canadian imports goes into effect
The United States of America has banned nearly $1 billion worth of Canadian imports, which includes alcoholic beverages, dairy products and motorcycles. The move comes as a rebuttal against Canada's retaliatory tarriffs against previous American tarriffs on Canadian goods. Candian Prime Minister Mark Carney is rapidly pushing for new trade partnerships.
How Trump's diplomatic week exposed the limits of his power
US President Donald Trump sought to project diplomatic strength through his UN address and summit with Chinese President Xi Jinping, but the week produced limited breakthroughs. The Iran war, strained ties with allies, Ukraine and the US-China relationship continue to challenge his foreign policy agenda, according to Reuters and analysts.
'Busan Agreement' explained: What the US-China trade truce means for world trade
US Treasury Secretary Scott Bessent announced the extension of the Busan Agreement until January 10, 2027. This extension allows both sides more time to negotiate without facing immediate tariff threats. The Busan Agreement was initially established to ease trade tensions between the US and China last year. Key areas of focus include agriculture and non-tariff barriers that require further discussion.
Key issues for this week's Trump-Xi summit in Washington
President Trump welcomes Chinese leader Xi Jinping for crucial talks this week. They seek stability in a relationship strained by trade and global issues. Key discussions will focus on trade tariffs and potential agricultural deals. Taiwan's status and China's role in Iran's economy are also on the agenda. Artificial intelligence cooperation and competition will be another significant topic.
US' nips at Moscow may sour India ties
India voices strong opposition to potential US tariffs on Russian oil imports. This move could negatively impact India-US relations and global energy supplies. New Delhi emphasizes its commitment to ensuring energy security for its citizens. Discussions on this issue are expected during upcoming high-level diplomatic meetings. India will protect its trade and economic interests through necessary measures.
Trump used to slam China. Here's why he is now rolling out the red carpet for Xi
US President Trump now praises Chinese President Xi Jinping, a major shift from his past rhetoric. His administration's tariffs on China have not curbed its manufacturing sector. Western leaders are visiting Beijing to stabilize relations with Xi. Trump prioritizes personal relationships over policy deliverables with China. This approach may hinder America's competition with China.
Behind the Modi-Xi border thaw, India's dependence on Chinese imports, especially rare earths, keeps deepening
India faces a significant trade deficit with China, importing substantially more goods than it exports. Chinese firms offer superior price and tech competitiveness, impacting Indian industries. India relies heavily on China for critical inputs like rare earths, affecting various sectors.
India warns that Washington's Russia sanctions bill holds implications for bilateral ties, energy market
India has warned that a US sanctions bill on Russia carries potential implications for its ties with Washington. The proposed legislation could impose punitive tariffs on top Russian crude oil importing nations like India. New Delhi stated it will take necessary steps to protect its economic interests and ensure energy security. The Indian side has clearly articulated potential implications to various US interlocutors in recent months.
India must not let energy security become a US trade ‘weapon’, warns GTRI
According to a warning from a US think tank, Indian goods could face tariffs as high as 100%. This move may compel India to significantly limit its imports of oil from Russia. The recent US legislation permits tariffs on principal buyers of Russian energy, highlighting India's growing reliance on Russian crude since 2022. The think tank recommends prioritizing energy security over achieving trade advantages.
Canada’s tariff counterpunch: Where Ottawa is hitting Donald Trump’s America
Canada has imposed retaliatory tariffs on a wide range of American goods. These measures target sectors like steel, dairy, and appliances, impacting US exports. The move escalates a trade dispute as the US approaches midterm elections. Canada's actions aim to pressure American businesses and states with strong trade ties. This escalation follows collapsed trade negotiations between the two neighboring countries.
US trade gap in July hits biggest in over a year on AI buildout
The US trade deficit in July widened to its largest since March 2025, government data showed Thursday, as imports climbed on the back of the booming AI tech build-out. But the trade deficit in the world's biggest economy grew to $88.6 billion in July -- a 24.4 percent increase from the month prior -- as exports of crude oil and gold fell while imports of tech products jumped.
US plans to sanction another bank in effort to clamp down on Iran transactions: Scott Bessent
US Treasury Secretary Scott Bessent said the Trump administration will impose sanctions on another bank this week as Washington intensifies efforts to economically isolate Iran. His warning came ahead of G20 meetings where he plans to seek cooperation, including from China, Iran’s biggest trading partner and oil buyer, on sanctions.
A US-Canada trade war could leave everyone worse off
The United States imposed tariffs on Canadian goods after trade talks collapsed. Canada vows dollar-for-dollar retaliation, escalating trade friction between neighbors. This dispute threatens the North American trade agreement, USMCA, and its future. Such actions could lead to job losses and higher inflation for consumers. The global economy faces risks as critical supply chains come under threat.
‘Canada is a state’: Vance makes ‘Freudian slip’ as US-Canada tensions rise
US Vice President JD Vance referred to Canada as a state, correcting himself amid trade disputes. He criticized Canada's military underinvestment and trade policies, comparing it to China. US-Canada trade talks collapsed last week, with tariffs threatened for January 2027. Canadian Prime Minister Mark Carney rejected US proposals as unfair and uneconomic. Canada vows retaliation, potentially using critical minerals and electricity as leverage.
A trade war between Canada and the US deepens rupture in what had been a close and durable alliance
Canada and the US are heading towards a potential full-scale trade war after last-ditch tariff negotiations collapsed, marking a major break in their decades-old economic relationship.
Trump's new 12.5% China tariffs unlikely to trigger retaliation, say analysts
New United States tariffs on China may irk Beijing without provoking retaliation. These duties are in line with proposed levels citing inadequate efforts to address forced labor. China opposes unilateral tariffs but has not announced specific countermeasures against these levies. Chinese officials seek clarity from Washington on upcoming artificial intelligence summit expectations. Vice Foreign Minister Ma Zhaoxu visited Washington to discuss the scope of AI dialogue.
What has China done so far? What could China do next?
As trade tensions escalate, China retaliates against US tariffs by raising duties on American goods and targeting specific companies. Beijing is also exploring alternative strategies, including potential currency devaluation and seeking support from other nations. While open to talks, China insists on equality and mutual respect, signaling a firm stance against perceived US pressure.
Trump's latest tariffs kick in, deepening global trade war; China hit with massive 104% duties
President Trump's trade war escalates with new tariffs on numerous countries, set to take effect Wednesday, including rates as high as 50% on some economies. China plans to retaliate with matching tariffs on U.S. goods. These actions build on existing levies on steel, aluminum, and auto imports, raising concerns about increased consumer prices and potential for further trade tensions.
Trump calls China 'biggest abuser' on tariffs
U.S. President Donald Trump criticized China as "the biggest abuser of them all" on tariffs, following Beijing's retaliation with a 34% tariff in response to similar U.S. measures. Posting on Truth Social, Trump expressed frustration that China ignored his warning against retaliating in the ongoing trade war.
Can tariffs really do what Trump says they do? Here are some key takeaways from his first term
Despite President Trump's claims, tariffs did not reduce the US trade deficit, increase domestic manufacturing, or create jobs during his first term. Instead, tariffs led to economic setbacks and failed trade agreements, causing retaliation and further complications with major trading partners like China, Canada, and Mexico.
More retaliations coming! China signals US tariff delay not enough
The Stoxx Europe 600 index moved lower while the three main American equity contracts dropped.
Donald Trump repeats threat of more tariffs if China retaliates on trade
Last month Trump imposed tariffs on nearly $200 billion of Chinese imports and then threatened more levies if China retaliated. China then hit back with tariffs on about $60 billion of U.S. imports.
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