Trade Dispute

The Indian establishment, which largely welcomed Trump's ascent to power and genuinely believed that the two were on the cusp of a mutually beneficial deal, seems somewhat shell-shocked

Trump said he would impose the tariffs until China stops the flow of illegal drugs, particularly fentanyl, into the United States

Dubai-based port operator DP World reported on Thursday its half-year profits fell by nearly 60 per cent, in part over the ongoing attacks by Yemen's Houthi rebels over the Israel-Hamas war that have affected shipping through the Red Sea. DP World reported profits of USD 265 million this year, down from USD 651 million the same time last year. DP World Group's chairman and CEO, Sultan Ahmed bin Sulayem, acknowledged that the Red Sea disruptions affected the firm's revenues. The year 2024 has been marked by a deteriorating geopolitical environment and disruptions to global supply chains due to the Red Sea crisis, he said in a statement included in the results. While the near-term trading outlook remains uncertain due to macroeconomic and geopolitical headwinds, the resilient financial performance of the first half ... positions us well to deliver stable full year adjusted" profits. Bin Sulayem did not elaborate on what specific effects the Houthi attacks had been having on DP World,

India has strongly objected to efforts of certain countries to push a proposal on investment facilitation at the WTO, saying the agenda falls outside the mandate of the global trade body and cannot be deliberated in formal meetings. According to the statement of the Indian delegation in a meeting of the General Council of the World Trade Organisation (WTO), held during December 13-15, negotiation on investment does not belong to the WTO. "I would like to reiterate that Investment Facilitation for Development (IFD), which supposedly facilitated investment, did not pertain to multilateral trade relations. Investment per se is not trade," the statement said. It added that investment covers a wide range of assets or enterprises subject to a separate universe of obligations. "The negative mandate did not allow the Members, desirous of IFD, to pursue it in a multilateral forum upon a consensus," the statement said. It added that certain members began an informal process that did not hav

According to the European Commission, EU exports of such technology affected by India's violations is up to €600 million annually, which is significant

India and New Zealand have discussed measures to reduce trade barriers and promote a more investor-friendly environment to boost economic ties, an official statement said on Wednesday. The issues were discussed during the meeting of Commerce and Industry Minister Piyush Goyal and his counterpart from New Zealand Todd McClay here on December 19. Both the ministers recognised the importance of trade facilitation and discussed measures to streamline trade processes, reduce trade barriers, and promote a more conducive environment for businesses and investors from both nations, the commerce ministry said. The trade minister of New Zealand appreciated the efforts made by India to sort out the issue related to export of wooden logs to India. "They highlighted the need to deepen engagement in sectors such as agriculture, forestry, pharma, connectivity, education and tourism," it said. To strengthen the trade and economic relationship, ministers expressed the need to increase engagement ..

India may take up the matter on the sidelines of the India-US Trade Policy Forum (TPF) in Washington on January 11, a person aware of the matter told Business Standard

The government on Friday warned edtech companies against indulging in unfair trade practices, including misleading advertisements, and said it will be forced to bring stringent guidelines

Goyal on Friday said there are a lot of non-tariff barriers that need to be addressed and wherever India will face an unfair treatment at trade front, it will take reciprocal action

The US has also cornered India at the multilateral platform, stating WTO rules prohibit middle-income nations from providing market distorting export subsidies at all

Outbound trade fell by 6.57 per cent in September, to a three-month low with the trade decline plaguing major foreign exchange earners

Data by the commerce and industry ministry showed production in coal, crude oil, natural gas, refinery products, steel, cement, and electricity declined in September

India has promised to fight the charge that it was misusing export subsidies and is set to reply within the next 60 days