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Ongoing tariff war triggered by reciprocal tariff by the Trump Administration provides an opportunity for India in some sectors, Chief Economic Adviser V Anantha Nageswaran said on Thursday. Addressing the CII Annual Business Meet here, he said India actually has a few silver linings which include low energy prices at the moment. Besides, he said, "regardless of how the tariff numbers will play out after 90-day expiration from the Liberation Day on April 2, or the 90 days given to China from May 12, etc, there will be some sectors where India did not enjoy an advantage before, it may enjoy an advantage later. That's also an opportunity from tariff perspective". The US on April 2 imposed an additional 26 per cent reciprocal tariff on Indian goods, but later suspended it for 90 days till July 9. However, Indian goods still attract the 10 per cent baseline tariff imposed by America. Meanwhile, both India and the US are in discussions to close a bilateral trade agreement. Both sides
A key priority for Singapore Prime Minister Lawrence Wong will be to deepen the trade-focused country's relations with the major powers, especially the US and China, engaging them honestly in a principled manner while not getting caught in their rivalry. Speaking after his newly re-elected government was sworn-in on Friday, Wong stressed, Where our interests align, we will work with them (the US and China). Where they do not, we will stand firm and protect Singapore's security and sovereignty. He also added that the first priority would be to secure an "assured place" for Singapore in this "changed world". Singapore, said Wong, will also seek new ties with countries in parts of the world, like Africa and South America, where it does not have much presence yet. In a world of shifting alliances, we will be a steady and constructive partner, one willing and able to contribute to peace and stability, to advance dialogue and fraternity, and support a rules-based global order, he said.