US Commerce Secretary Howard Lutnick has publicly stated that India is among the countries the US aims to rectify within its trade agenda, urging them to adjust their trade practices for better access to the American market. He cited high US trade levies on Indian goods and stated that these nations must “react correctly” to the US by opening markets and ceasing actions deemed harmful. Lutnick has set specific conditions, including discontinuing purchases of Russian oil and withdrawing from BRICS, or face consequences. Trade negotiations between India and the US have resumed, but the US is looking for major changes in India’s trade and geopolitical approach.
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Former President Donald Trump has imposed a 50% tariff on most US imports from India, following through on threats related to India’s purchases of discounted Russian oil. This action, which adds to existing 25% tariffs, risks damaging the Indian economy and disrupting global supply chains. In response, India’s government has refused to halt oil purchases and has encouraged citizens to buy domestic goods, potentially leading to closer ties with Russia and China. Economists predict this will reduce India’s GDP. The US has not taken similar action against China, a major purchaser of Russian oil, nor has it taken similar actions against other countries.
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India and the US are in the final stages of bilateral trade negotiations, facing significant hurdles in sectors like dairy, agriculture, digital, and medical services. The US is pushing for increased market access, while India seeks a more balanced agreement protecting domestic interests, leading to disagreements over tariff reductions and sanitary standards. Negotiations, currently virtual, aim to reach a deal before the July 8th deadline to avoid reinstated tariffs. Despite challenges, Indian officials remain optimistic about achieving a mutually beneficial agreement.
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China will eliminate tariffs on all imports from 53 African nations, excluding eSwatini, expanding upon a previous policy granting zero-tariff treatment to 33 least-developed African countries. This initiative, announced at a Forum on China-Africa Cooperation (FOCAC) meeting, provides duty-free access to the vast Chinese market for a significantly larger number of African nations, primarily from the middle-income bracket. The move comes amid accusations by China and African representatives that the United States is destabilizing global trade. The expansion aims to further facilitate African exports to China, bolstering economic ties between the two regions.
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President Trump doubled tariffs on steel and aluminum imports from 25% to 50%, citing insufficient domestic production and national security concerns. This action, building upon a previous executive order, significantly impacts Ukraine, whose metallurgical exports constitute a large portion of its U.S. trade. While the White House claims the tariffs will bolster domestic industries, Ukraine’s economy, already strained by war, faces further jeopardy. The U.K. is exempt from the increased tariffs, remaining at 25%. Trump justified the increase as a simplification of metal import duties and alluded to potential retaliatory measures.
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Facing a July 8th deadline for its “90 deals in 90 days” initiative, the Trump administration sent letters urging countries to submit their best trade offers. These letters, a “friendly reminder” according to the press secretary, follow the April pause on new tariffs. However, the need for such reminders has sparked skepticism, with critics questioning the administration’s claims of successful negotiations and the likelihood of meeting the ambitious goal. Social media users have highlighted the shift from assertive pronouncements to what they perceive as pleading with trading partners.
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A US federal court blocked President Trump’s global tariffs, ruling that the invoked emergency law didn’t grant him unilateral authority to impose them. The court cited the Constitution’s grant of commerce regulation power to Congress. The Trump administration plans to appeal, while various parties, including affected businesses and states, celebrated the decision. Global markets reacted positively to the ruling, although the long-term effects remain uncertain pending appeals.
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President Trump announced a 50% tariff on all EU imports to the US, effective June 1, 2025, citing stalled trade talks and accusing the EU of unfair trade practices. This announcement caused significant stock market declines across Europe and the US. The EU had recently submitted a new trade proposal including tariff cuts and cooperation initiatives, but this was apparently insufficient to prevent the tariff imposition. The move represents a major escalation of trade tensions between the US and the EU, with the potential for considerable economic repercussions.
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In response to Mattel’s price increase due to President Trump’s tariffs on Chinese goods, Trump threatened to impose a 100% tariff on Mattel toys, effectively barring them from their largest market. Mattel CEO Ynon Kreiz stated that the company does not plan to manufacture in the U.S., aiming for efficient, cost-effective production elsewhere while maintaining American design and creativity. Despite acknowledging the increased cost of toys resulting from his tariffs, Trump rationalized this as a trade-off, and Vice President Vance further defended the tariffs, linking them to increased domestic weapons production and national security. Mattel plans to reduce its reliance on Chinese imports to 15 percent by 2026.
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During a meeting, President Trump firmly refused to reduce tariffs on Canadian goods, citing unfair treatment by Canada and falsely claiming a massive US subsidy to Canada. While acknowledging Canada’s significant purchasing power of US goods, Trump’s tariffs, impacting various sectors, are harming both nations. Prime Minister Carney countered that Canada will not become a US state, while urging a dialogue to lower tariffs. Despite Trump’s openness to future negotiations, a trade deal was not reached.
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John Q. Hosedrinker