Global Order Transition - The world is in a great transition to a multipolar world, a post-American order [1] - The transition will be messy and unpredictable as America steps back from its role as global insurer [2] - The old rules do not apply anymore, but the new ones have not been written, requiring actions to tackle global problems and build new trade connections [3][4] - Singapore is keen to work with like-minded countries to lay the foundations of the new multilateral architecture [4][6] - Multipolarity itself does not provide a stable framework, and the world should avoid ending up in exclusionary blocks and spheres of influence [11][12] ASEAN and Regional Dynamics - ASEAN has maintained relative peace and avoided major conflicts in Southeast Asia and is indispensable [14][15] - There are plans to accelerate ASEAN integration to become a more attractive and competitive single market [16] - The actions of tariffs have impacted America's standing in Southeast Asia, though America remains the largest investor in the region [17] - All Southeast Asian countries want to maintain good links with America [18] US-China Relations - The US and China relationship is the most consequential and dangerous fault line in international relations [30] - Both countries are looking at potential choke points to use as leverage, leading to a dynamic of mutually assured destruction [30][31] - The world must realize that China will not converge with Western norms and has become a risen power [38][39] - Singapore needs to work with like-minded countries to preserve and reinforce multilateral frameworks [42] Trade and Investment - Singapore is determined to maintain the integrity of its business environment and will not tolerate businesses violating its laws [23][24] - Trade flows are being reconfigured into new patterns, and Singapore is determined to remain at the center of these global patterns [22] - Singapore remains invested in American companies due to leading-edge technologies and dynamism, but continues to look for opportunities around the world [49] - Singapore sees strategic opportunities with Europe and is keen to forge closer links [50][53]

Trade Deal Overview - The United States and India are close to finalizing a trade deal that could reduce the current 50% tariff on Indian exports to 15-16% [1][2] - The potential announcement of this agreement is expected during the ASEAN summit in Malaysia from October 26 to 28 [2] Negotiation Dynamics - Intense negotiations have been ongoing, influenced by public pressure from the White House regarding India's purchases of Russian oil [2][4] - A significant quid pro quo is proposed, where India may agree to reduce its Russian oil imports in exchange for tariff relief [3][4] Impact on Oil Imports - India's Russian oil imports have become a major point of contention, with these imports constituting about one-third of India's overall oil supplies [6] - Although India has not officially confirmed plans to cut Russian oil imports, there are indications from state-owned refiners and Reliance Industries Ltd. shifting towards Middle Eastern supplies [5][6] Progress in Negotiations - Trade negotiators from both countries reported solid progress in discussions, aiming to resolve the ongoing tariff issues [7]

Core Points - A potential trade deal between the US and India may reduce tariffs on Indian exports by approximately 50%, bringing them down to as low as 15% [1] - The negotiations for this deal have been ongoing for several months, with the first phase possibly nearing completion [2] - The timing of this deal is significant as it coincides with US-China negotiations, highlighting the competitive dynamics between India and China as manufacturing and exporting powerhouses [3]

I took in hundreds of billions of dollars from China. I put the full tariffs on China. Biden left the tariffs because he couldn't.It was too much money. But they gave so many exceptions that they were essentially meaningless. In other words, he the tariffs.But you don't have to pay. If you look at somebody the wrong way. You don't have to pay.So they didn't pay very much. But with me, they were paying hundreds of billions of dollars. And again, I have a great relationship with President Xi.I expect to be ab ...

BREAKING: 🇺🇸 🇨🇳 Trump says we can lower china tariffs and we are confident of reaching a soybean deal with China. ...

An Indian trade delegation will visit the US this week as the two nations work toward clinching a deal https://t.co/kjPPazbaZo ...

Market Overview - The U.S. stock market experienced a significant sell-off, with over $1.5 trillion in value lost in a single trading day, resulting in a 2.7% drop for the S&P 500 (SPX), marking its largest daily decline since April [2][11] - The technology sector was particularly affected, with megacap tech companies losing approximately $770 billion in market value, contributing to the Nasdaq's (NDAQ) biggest drop since April [3][11] Consumer Financial Health - Vehicle repossessions have surged to their highest levels since 2009, indicating increasing consumer stress due to high car prices and rising interest rates impacting household budgets [4][11] Economic Policy and Trade - The European Union is developing a new trade proposal with the U.S. aimed at resetting economic ties and reducing tariff friction, potentially including the elimination of tariffs on industrial goods and preferential market access for U.S. seafood and agricultural products [6][11] Employment and Taxation - The U.S. Education Department announced significant layoffs affecting nearly 50% of its workforce, reflecting broader federal budget constraints [7][11] - New tax laws set to take effect in 2026 will increase income brackets, providing the largest tax breaks to the lowest earners and raising the standard deduction to $16,100 for single filers and $32,200 for married couples filing jointly [8][11] Investment Trends - A report indicates a shift in the investment landscape, with more lower-income Americans turning to the stock market as homeownership becomes increasingly unattainable, although associated risks are reportedly rising [9][11]

Market Overview - The stock markets started the week on a flat note, with investors cautious due to continuous foreign fund outflows and valuation concerns [1] - The Nifty 50 index opened at 24,916.55, up by 22.30 points or 0.09%, while the BSE Sensex opened at 81,274.79, gaining 67.62 points or 0.08% [2] Performance Analysis - The Indian markets have underperformed for the past 13 months, with negative returns since the all-time highs in September 2024, primarily due to foreign institutional investor (FII) selling and high valuations [3] - The broader market indices showed slight gains, with Nifty 100 up by 0.09%, Nifty Midcap 100 gaining 0.10%, and Nifty Smallcap 100 surging 0.29% [4] Sector Performance - Among sectoral indices, Nifty FMCG, Media, Pharma, and Oil & Gas were trading in the red, while other sectors experienced marginal gains [4] Upcoming Events - LG Electronics India Ltd's IPO is set to open for pre-apply with a price band between ₹1,080 and ₹1,140 per share and an issue size of ₹11,607 crore, opening on October 7 and closing on October 9, 2025 [5] Global Influences - The announcement of a peace formula by US President Donald Trump regarding Hamas and Israel had limited market reaction due to the small scale of the conflict [6] - In Japan, the election of a monetary and fiscal dove as the first female prime minister candidate boosted investor sentiment, with the Nikkei 225 index surging over 4.6% [7] Technical Analysis - The Nifty 50 has been consolidating within a defined range for the last three months, with a breakout above 25,500 indicating a strong resumption of upside momentum; the index is currently above the 200-Day Exponential Moving Average (200-EMA) at 24,400, serving as a strong support barrier [8]

Trade Agreement Impact - Swiss chocolates are expected to become more affordable in India due to a new trade agreement [1] Market Opportunity - The trade deal presents a potential opportunity for Swiss chocolate manufacturers to increase their market share in India [1]

President Donald Trump has declined to approve a more than $400 million military aid package for Taiwan as he seeks a trade deal with China, according to the Washington Post https://t.co/n1PBsNNqPl ...