Group 1 - A trade deal between India and the U.S. is at "a very advanced stage" according to India's Minister of Petroleum and Natural Gas Hardeep Singh Puri [1][2] - The relationship between India and the U.S. is described as "very strong," with India supporting a multilateral trading system, as evidenced by its recent free trade agreement with the EU [2][3] - The open-to-trade stance of India is seen as beneficial for the U.S. as trade talks continue, presenting economic opportunities for both nations and others [3] Group 2 - There are concerns in New Delhi regarding how U.S. President Donald Trump might respond to India's new trade deal with the EU, which involves gradual tariff reductions on imports [4] - Despite the trade deal with the EU, the U.S. has maintained punitive tariffs on imports from both India and the EU, with India facing a 50% levy due to its oil purchases from Russia [5] - U.S. Treasury Secretary Scott Bessent criticized the EU for proceeding with the trade agreement with India, highlighting the U.S.'s significant sacrifices compared to Europe [6]

Trade Tariffs - The latest trade tariffs announced by President Trump include 100% on pharmaceuticals and 25% on heavy trucks, along with tariffs on kitchen cabinets and upholstered furniture, all categorized under section 232 national security tariffs [1][2] - The tariffs are expected to start as early as next week, indicating a proactive approach by the Trump administration [2] Implications for China - The tariffs, while not directly aimed at China, will have significant implications for Chinese exports, particularly in the furniture sector, as there will be less furniture and kitchen cabinets imported from China [4] - Beijing is closely monitoring the situation to assess the impact on its domestic economy and the proposed tariff rates, as actual numbers have only recently been attached to the discussions [5] Bilateral Negotiations - The increasing complexity of tariff policies complicates the potential for a bilateral deal between the US and China, especially given China's role as a key manufacturing source for pharmaceuticals [3][9] - The ongoing discussions between the two countries will likely focus on broader issues such as tariff policies, transshipment rules, investment regulations, and intellectual property rights [8][10][11] China's Response - China is reminding the Trump administration that it also holds significant stakes in the negotiations, as evidenced by its recent inclusion of six US companies on its entity list [12][13] - By pledging not to seek special and differential treatment in new WTO agreements, China positions itself as a responsible stakeholder in the global trading system, which may ease bilateral tensions [14][15][16]

Sent to trade China creating a united front with India against US tariffs. Writing China will firmly stand with India to uphold the multilateral trading system with the World Trade Organization at its core. Joining us now, take a look awaits the former White House trade official.Kate, can we just sip on that statement. I'd love your reaction to that. China will firmly stand with India to uphold the multilateral trading system with the WTO at its core.The irony. Your reaction, please. Yeah.I'm struggling not ...