The Trump administration has imposed new 10-12.5% tariffs on over 80 trading partners, including the UK, EU, China, and Canada, under Section 301 of the Trade Act of 1974. These replace expiring duties and follow Supreme Court rulings against earlier tariffs, sparking legal debate and public concern over rising prices.
US Trade Representative Jamieson Greer denied that President Trump's tariffs have increased prices for American families, despite senators Elizabeth Warren and Raphael Warnock presenting data and arguments linking tariffs to higher inflation and cost-of-living concerns.
Indian Prime Minister Narendra Modi faces domestic backlash over a potential trade deal with the US, which farmers fear will open markets to cheaper American imports. The protests highlight political risks for Modi as his government deepens ties with Washington amid pressure from Trump on trade and Russian oil.
South Korea's Industry Minister Kim Jung-kwan announced that the first investment project under the bilateral trade deal with the US, focusing on the energy sector, is expected to be unveiled by late September. This marks the initial step in Seoul's $350 billion commitment to US investment.
US Trade Representative Jamieson Greer stated that the US is not receiving sufficient critical mineral exports from China despite ongoing high-level talks. He emphasized US leverage and efforts to boost domestic production to reduce dependency.
The EU is preparing for new US tariffs on forced labor, expected soon, as long as they don't exceed the 15% cap set by the 2025 Turnberry agreement. Despite disagreeing with US findings, the EU prioritizes agreement stability.
One year after the Turnberry trade deal, EU-US trade increased despite tariffs. The EU is meeting investment pledges, while both sides negotiate exemptions. The US is preparing new tariffs on forced labor and overcapacity, potentially continuing trade tensions.
Indonesia joined the World Artificial Intelligence Cooperation Organisation (Waico) to boost AI development and global governance. Analysts suggest this move could be a political maneuver, potentially testing a recent trade agreement with the US requiring prior consultation for digital trade pacts.
Farmers from Punjab, Haryana, and Himachal Pradesh marched towards Delhi to protest the proposed Indo-US Free Trade Agreement, fearing its impact on Indian agriculture and dairy. They were stopped by police barricades at the Shambhu border, leading to protests there.
Democratic lawmakers are urging Congress to block the revised Sanctioning Russia Act of 2026, warning that the bill, championed by the late Senator Lindsey Graham, would impose tariffs up to 100% on imports from countries buying Russian oil and gas, leading to higher prices for American consumers and damaging trade relationships.
The UK's proposed deforestation rules, modeled on the EU's, are causing friction with the US. Washington fears the regulations will create trade barriers and lacks flexibility for low-risk exporters, potentially impacting US-UK trade relations.
India has challenged the US's proposed tariffs linked to forced labor, arguing the US approach is inconsistent and that such issues should be resolved via bilateral trade negotiations. India's representative questioned exemptions and the basis for tariffs, stating they would increase costs for all parties involved.
China made its largest daily purchase of US soybeans since November, selling 472,000 tonnes. Analysts see this as a positive signal of Beijing's commitment to trade agreements made after the Trump-Xi summit, with further good faith expected in September.
Economist Surjit Bhalla states a comprehensive India-US trade deal is vital for India's economic growth, competitiveness, and development, extending beyond trade balances to markets and technology. He warns delays benefit China and urges PM Modi to prioritize it, noting other trade deals are insufficient.
The US trade deficit ballooned by 42.2% in May to $77.6 billion, driven by a 3.3% rise in imports of goods like pharmaceuticals, mobile phones, and semiconductors, while exports fell 3.2%. This marks the largest monthly increase in a year, coinciding with AI spending and record petroleum imports.
Health groups and doctors urge Andy Burnham to scrap the UK-US trade deal on medicines, warning it prioritizes pharmaceutical profits over NHS patients and could lead to hundreds of thousands of avoidable deaths due to increased drug costs.
Analysis suggests a UK-US trade deal agreed last December will force the NHS to divert £45bn from essential services to pay for new medicines by 2036, potentially causing over 200,000 avoidable deaths. Ministers defend the deal, while health experts and campaign groups express alarm over its impact on patient care.
The United States has refused to renew the USMCA trade agreement in its current form, leading to its non-renewal. The pact remains in effect until 2036, with annual reviews underway that could extend it. A renewal would have reset the expiration date to 2042, reducing business uncertainty.
The United States has refused to renew the USMCA trade agreement in its current form, meaning the pact remains in force until its potential expiration in 2036. A renewal would have extended it to 2042, avoiding a decade of uncertainty for businesses involved in the $1.8 trillion market.
India and the US have made progress on a bilateral trade agreement but face hurdles over market access, tariffs, and agricultural market access, with neither side willing to concede first.
China's LineShine supercomputer, powered by 45,000 LX2 CPUs and a custom network, tops the TOP500 list, surpassing the US's El Capitan despite trade restrictions limiting access to high-powered GPUs.
US and India are in final trade negotiations ahead of a July 24 deadline to set tariff rates and address market access for US agricultural products. The visit by US official Greer is expected to finalize a deal after a year of strained relations.
India's headlines include a retest for the NEET-UG medical entrance exam amid security concerns, US Ambassador Jamieson Greer's visit for trade talks, and the resignation of AMMA's first woman president Shweta Menon. Pakistan's Defence Minister warned of war over the Indus Water Treaty, while India rejected Pakistan's President's comments on a mosque demolition threat in Varanasi. Sabarimala temple may use AI for crowd management.
India's trade minister, Piyush Goyal, stated that a trade agreement with the US is delayed due to a 50% tariff on Indian goods. New Delhi seeks preferential market access and a comparative advantage for its exporters in the upcoming talks.
