US President Donald Trump described Indian Prime Minister Narendra Modi as 'a very tough cookie' and one of the world leaders he most admires, in a wide-ranging interview with Axios. He also praised Chinese President Xi Jinping as 'all business'.
The Indian Rupee gained 20 paise against the US dollar in early trade on Friday, reaching 94.20. Optimism surrounding an India-US trade agreement, coupled with improved foreign inflows and lower crude oil prices, fueled the recovery from its previous all-time closing low.
India and the US are in the final stages of concluding an interim free trade agreement, with US trade representative Jameson Greer set to visit India next week. This follows a meeting between PM Modi and President Trump.
Indian textile exporters anticipate doubling their UK market share within 3-5 years due to the India-UK trade deal offering zero duty access from July 15. Trade is projected to rise from $1.9 billion to $3 billion.
Foreign Secretary Vikram Misri detailed PM Modi's G7 discussions on trade, West Asia, and maritime security. Key outcomes include progress on India-US trade deal, CEPA with Canada, India-EU FTA by year-end, and India-UK CETA effective July 15. Modi also stressed seafarer safety and peace in West Asia.
India's government defended its temporary ban on Telegram, calling it a 'Frankenstein' platform used by criminals. The air force is involved in transporting NEET-UG retest papers amid exam leak controversy. Meanwhile, PM Modi and Donald Trump reported significant progress on a US-India trade deal.
Indian PM Narendra Modi and US President Donald Trump met at the G7 summit in France, reporting "significant progress" on a long-awaited trade deal. The leaders instructed officials to work towards a balanced agreement. The meeting also touched on the Iran war's impact on the Global South.
Prime Minister Narendra Modi and US President Donald Trump agreed to work towards an early conclusion of a balanced and commercially meaningful bilateral trade agreement. The leaders reviewed progress under the India-US COMPACT initiative and welcomed advances in defence, technology, energy, and trade cooperation.
UK and India will implement their trade deal on July 15, following an agreement between PM Keir Starmer and PM Narendra Modi at the G7 summit in France. The deal aims to cut tariffs, boost GDP, and includes provisions for skilled professionals.
PM Modi discussed maritime security and Indian seafarer safety with US President Trump at the G7 Summit. The meeting followed the deaths of three Indian sailors in US strikes off Oman. Trump expressed condolences and pledged cooperation on seafarer safety.
South Korea and Mongolia held talks in Ulaanbaatar to speed up economic cooperation, focusing on progress for a Comprehensive Economic Partnership Agreement (CEPA) and strengthening supply chains for key minerals. The CEPA aims to expand trade, investment, and establish stable joint supply chains for minerals vital to cutting-edge industries.
PM Modi and President Trump will discuss West Asia tensions, the Strait of Hormuz, and a bilateral trade agreement at the G7 Summit. Both nations aim to build a long-term energy partnership amid global supply chain concerns.
Bernd Lange, chair of the European Parliament's trade committee, became an obstacle to a transatlantic trade deal with the US. He demanded safeguards against Washington's potential non-compliance, clashing with EU institutions and Trump's administration.
The European Parliament approved legislation to implement the EU's trade deal with the US, removing tariffs on US industrial goods and agricultural products. The vote, 440 in favor, marks a final hurdle after repeated frustrations from the Trump administration.
US Trade Representative Jamieson Greer will visit India on June 23-24 to finalize an interim trade deal, aiming to conclude ongoing negotiations between the two nations.
German MEP Bernd Lange warns the Airbus-Boeing subsidy dispute could derail the EU-US trade agreement if tensions escalate. The five-year truce expires July 11, with no extension yet agreed, potentially leading to new tariffs.
South Korea secured $165 million in foreign direct investment from four European companies and signed a digital trade agreement with the EU, aiming to deepen economic ties amid global geopolitical risks and trade protectionism.
US President Donald Trump stated the US might not renew its free trade agreement with Canada and Mexico, citing trade deficits. The pact requires renewal by July 1 or a 10-year exit process.
The EU and UK car industries are urging the European Commission to adjust the Brexit trade deal, seeking a second suspension of tariffs on electric vehicle imports due to struggles in meeting 'made in Europe' battery production targets by 2027.
US Trade Representative Jamieson Greer stated that the US will honor tariff caps in trade deals with the EU, Japan, and others, despite ongoing investigations into forced labor products and unfair trade practices. South Korea faces a potential 12.5% tariff.
Senior Labour minister Peter Kyle warns the party hasn't learned from Conservatives about changing leaders, stating "entitlement is not a qualification." Wes Streeting calls for a "battle of ideas" over a "coronation" for potential leadership contenders.
Talks on implementing the UK-India free trade deal are progressing well, but its implementation may be delayed beyond initial expectations due to Indian concerns over upcoming British steel trade measures. Trade Minister Peter Kyle stated the deal itself will not be reopened.
South Korean Industry Minister Kim Jung-kwan stated that the U.S. Commerce Secretary reaffirmed South Korea will not face tariffs exceeding the bilateral trade deal. This follows the USTR's proposal of tariffs on goods from 60 economies over forced labor import bans.
The US has proposed additional tariffs of 12.5% on India as part of its Section 301 probe into forced labor practices. Experts warn this could significantly impact Indian exports and complicate ongoing trade deal negotiations.
