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.
The United States reportedly struck a railway bridge in northeastern Iran near the Turkmen border overnight. The bridge is part of a transport corridor connecting Iran with Russia and China, facilitating cargo from Russia and increased shipments from China.
The EU's current trade disputes with China share similarities with the 1970s-80s trade conflict between Europe and Japan, particularly concerning fears of import competition undermining domestic production in sectors like autos and electronics. However, China's geopolitical status as a "systemic rival" distinguishes it from Japan, which was a political ally.
MEP Bernd Lange doubts the EU's October deadline for "tangible results" with China is realistic for a binding trade agreement. The EU faces a large trade deficit and seeks to rebalance trade, while China threatens retaliation against protectionist measures.
Europe faces a widening trade deficit with China, exacerbated by record heatwaves driving demand for Chinese air conditioners. EU and China aim for tangible trade results by October, but Beijing's stance and Europe's consumer needs complicate efforts.
EU leaders are converging on a more assertive approach to China, citing unfair trade practices and a growing deficit. While dialogue continues, the EU is considering tools like import quotas and an overcapacity instrument, though a full trade war is unlikely due to economic fragility.
India's exports to the US remained flat in May at $8.81 billion, while imports surged 54.43% to $5.87 billion. Trade with China saw a significant boost, with exports up 24.8% to $2 billion and imports up 23.4% to $12.8 billion.
Russian Ambassador to China Igor Morgulov stated that nearly all Russia-China trade is conducted in rubles and yuan, with bilateral trade turnover exceeding $200 billion for three consecutive years and growing over 20% this year. Both nations oppose protectionism and have numerous joint investment projects.
German Chancellor Friedrich Merz indicated on Thursday that the EU should defend itself against unfair trade practices, showing increased willingness to support European Commission proposals for a firmer stance on China. Merz highlighted concerns over China's subsidized exports and industrial overcapacity, which he stated are harming European industries and leading to job losses in Germany.
EU and China trade tensions rise as EU policymakers consider a tougher stance on trade despite pressure from Beijing
Trade volume between Russia and China surged by 19.7% year-on-year in January-April, reaching $85.2 billion, according to Chinese Ambassador to Moscow Zhang Hanhui at the St. Petersburg International Economic Forum (SPIEF).
Russian President Vladimir Putin stated that the trade turnover between Russia and China has reached an impressive figure, growing to nearly $250 billion. This highlights the strengthening economic ties between the two nations.
Russia's trade turnover with China has grown 2.5 times in the last ten years, according to Russian Deputy Minister of Industry and Trade Alexey Gruzdev at SPIEF-2026. Diversification is noted, with agriculture and metals, including copper and aluminum, driving growth.
US official Bessent noted 200 Boeing planes agreed during a visit, with more expected when Xi Jinping arrives. Expert Gupta linked Boeing purchases to China's C919 jet engine supply, predicting up to 550 more planes if trust is established. This follows the US Trade Representative's office announcing a comment process for a new US-China Board of Trade.
The US Trade Representative's office announced a new US-China Board of Trade to manage bilateral trade, potentially considering tariff modifications on non-sensitive goods. The board aims to facilitate trade between the two largest economies.
SCMP reports on EU's tougher China trade policy, Putin's visit to Beijing post-Trump, and China's military driving away a Dutch warship from the Paracel Islands, citing 'miscalculation'.
The Trump administration is shifting its approach to China trade, focusing on 'managed trade' through a new U.S.-China trade board, aiming to reduce tariffs on 'non-sensitive' goods, with industry groups preparing feedback amid unclear product eligibility criteria.
Japanese Economy Minister Ryosei Akazawa and Chinese Commerce Minister Wang Wentao had a brief, informal exchange at the APEC trade ministers' meeting in Suzhou, China. Japan seeks to resume full-fledged dialogue, but prospects remain uncertain due to China's past strong reactions to Japanese statements and policies.
Trump's second term sees a shift in US-China trade relations from seeking agreements to managing structural differences. New US-China Trade and Investment Committees aim to establish normalized mechanisms for trade and investment reviews, potentially bypassing WTO and CFIUS respectively, signaling a move towards 'managed trade'.
Russian President Vladimir Putin stated that trade turnover between Russia and China has grown by over 10% this year, following an adjustment in 2025. He noted that trade cooperation will continue under long-term strategies, with bilateral trade reaching nearly $240 billion in 2025.
Russian President Vladimir Putin stated that Russia and China are significant trading partners, with their trade turnover reaching nearly $240 billion in 2025. He noted the expansion of trade structure to include high added value goods and contributions from modern enterprises.
Despite pledges for a stable relationship at the recent Beijing summit, US actions like investigations into trade status, investment restrictions, and blacklisting of firms indicate persistent economic tensions with China, suggesting no real trade truce.
Russia-China trade turnover rose 3% to 47 million tons in 2025, with transport flow through border crossings up over 20% to 790,000 units, according to the Russian Transport Ministry.
Nvidia's stock rises 20% since May 5, nearing a $5.7 trillion market cap, fueled by potential US-China trade deal allowing chip sales to Chinese firms and upcoming earnings on May 20.
