China has issued a strong statement urging the United States to immediately stop what it describes as the misuse of unilateral sanctions imposed without international legal backing, escalating diplomatic tensions between the two global powers. Read More: US sanctions Chinese refinery over Iran ties According to reports, Liu Pengyu, spokesperson for the Chinese Embassy in Washington, […]
international trade
India, EU strike historic trade pact
India and the European Union finalized a landmark trade deal on Tuesday, cutting tariffs on autos, textiles, and spirits. The pact aims to double EU exports to India by 2032. European companies are expected to save $4.75 billion in duties. The deal will gradually reduce tariffs on 96.6% of traded goods by value. Indian cars […]
India, EU finalise landmark trade deal, PM Modi calls it ‘mother of all deals’
India and the European Union have finalised a long-awaited trade agreement, Indian Prime Minister Narendra Modi announced on Tuesday, calling it the “mother of all deals.” The pact aims to strengthen economic ties and hedge against volatile trade relations with the United States. Read More: Europe and India push for historic ‘mother of all deals‘ […]
India exits Chabahar project under Trump’s tariff threat
NEW DELHI: India has fully liquidated its financial commitment to Iran for the development of Chabahar port, transferring approximately $120 million to Tehran, in response to renewed US sanctions and threats of punitive tariffs, The Economic Times reported on Friday. Read More: India faces solar surplus as U.S. market closes A government source confirmed that India […]
A landmark ruling for international trade
The World Trade Organization (WTO) recently issued a landmark ruling, in a case involving a dispute between Russia and Ukraine. What makes the decision so important? The WTO panel ruled on Article XXI of the General Agreement on Tariffs and Trade (GATT). Prior to delving into the substance of this ruling and the implications flowing […]