Asian stocks end mixed, China benchmark up 0.17%
U.S. and Chinese officials concluded two days of talks in Stockholm, but there was no agreement on tariff truce extension. U.S. officials said President Trump will decide whether to extend truce.
Treasuries held steady in Asian trading after climbing the most in a month in the previous session.
Copper and gold edged up as the dollar weakened after hitting a more than one-month high on Tuesday.
Oil held its biggest gain in six weeks as Trump reiterated that further levies on Russia remained on the table without a Ukraine truce.
China's Shanghai Composite index ended up 0.17 percent at 3,615.72 after hitting a six-month high earlier on eased concerns over U.S. tariff threats.
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Time of India
an hour ago
- Time of India
Why Trump's threat is unlikely to wean India off Russian crude
AI photo NEW DELHI: Trump's latest threat is unlikely to affect India's decision to source crude from Moscow as long as it's cheaper than the alternatives. "We will go solely by the interest of our consumers and opt for the best option price-wise. If Russian crude works out cheaper than what we can get from other sources, why should we penalise our consumers?" said a senior government source who did not rule out the possibility of India exploring further discounts from Moscow in the light of Trump's threat. Sources said NSA Ajit Doval's visit to Russia, beginning Tuesday, will yield clarity on the geo-economic trilemma. The Centre has so far not made any move to wean off Indian oil refiners from Russian crude, which comes at a steep discount compared to purchases from west Asia or US. It has not just helped keep domestic pump prices lower, but also benefited European countries, which have been major buyers of diesel and jet fuel from India, sources said. Biz circles agree with Centre's criticism of Trump's latest diktat Business circles in New Delhi agreed with the Centre's criticism of Trump's latest diktat. "India's oil trade with Russia has taken place with full transparency and broad understanding with the US. One of the key reasons India stepped up Russian oil purchases was to help stabilise global oil markets after Western sanctions disrupted traditional supply chains. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 15 Most Beautiful Female Athletes in the World Click Here Undo By maintaining diversified and affordable energy access, India contributed to preventing a global oil price shock. Trump's decision to raise tariffs on India citing oil trade is not only unjustified - it ignores market realities, misrepresents trade data, and undermines a key strategic partnership in the Indo-Pacific," trade research body GTRI said in a note. Interestingly, Trump's sudden bid to arm twist India into abandoning purchase of Russian crude follows declining purchase from Moscow because of sheer logic of markets. In May, India's crude petroleum imports from Russia fell almost 10% to $9.2 billion. Trump's latest comment is expected to create fresh uncertainty among American buyers, who are in talks with Indian exporters for placing orders for the busy Christmas season. The government's firm stand on farm and dairy is seen to have come as a blow for Trump, who had gone public over a dozen times claiming that India had agreed to slash tariffs. Shaken by the govt's steadfast opposition to blocking genetically modified American corn and soybean as well as its public rebuttal of claims over the US mediating a ceasefire during Operation Sindoor have hurt Trump's claim to have brokered several peace deals - one in each month of his second term as president. During the talks, negotiators had indicated the government's willingness to step up purchases of American oil, gas, fertilizer and defence equipment to improve the trade balance which is tilted in India's favour. Stay informed with the latest business news, updates on bank holidays and public holidays . Discover stories of India's leading eco-innovators at Ecopreneur Honours 2025
India.com
an hour ago
- India.com
Despite Trump's 25% Tariff, How India Still Beats Pakistan, Bangladesh On Trade Balance
New Delhi: Even as U.S. tariffs on Indian goods climb to 25 percent, the numbers tell a more layered story. Despite the blow, India still holds a stronger position in trade dynamics than some of its closest neighbours. In 2024, Indian products entering the American market faced an average effective tariff of 17.4 percent. That is lower than the 19.9 percent slapped on Bangladeshi goods, the 18.1 percent faced by Pakistan and Sri Lanka's 19.2 percent. These figures come from a recent analysis by Moneycontrol that measured the effective duties levied by the United States on major South Asian exporters. U.S. President Donald Trump, who reimposed tough trade penalties last month, had pointed fingers at India in a strongly worded post on July 30. 'Remember, while India is our friend, we have, over the years, done relatively little business with them because their tariffs are far too high, among the highest in the world. They have the most strenuous and obnoxious non-monetary trade barriers of any country… INDIA WILL THEREFORE BE PAYING A TARIFF OF 25%, PLUS A PENALTY FOR THE ABOVE, STARTING ON AUGUST FIRST,' he wrote on Truth Social. However, data on what economists call the tariff differential, the gap between what a country pays in U.S. tariffs versus what it charges on American imports, suggests India's trade relationship with Washington remains more balanced than many others in the region. India's tariff differential currently stands at 11.3 percentage points. That is significantly narrower than Bangladesh's 17.2-point gap or Pakistan's 13.6 points. Another regional exporter, Vietnam faces a 13-point spread. Bangladesh's position appears the most lopsided: its exports are hit by the highest U.S. tariffs, but it barely charges American goods in return. Meanwhile, India maintains an average 6.1 percent tariff on U.S. imports, more than Bangladesh but less than others, offering a cushion against the recent spike from Washington. Neighbouring Asian countries such as Thailand and the Philippines fare slightly better in terms of tariff balance, with gaps at 6.4 and 9.8 points respectively. But their trade mix is different, heavily skewed towards electronics and intermediate goods. India's exports to the United States, on the other hand, lean heavily on pharmaceuticals, garments, jewellery and consumer products. These sectors are more vulnerable to tariff hikes. While India's trade ties with Washington remain under strain, the data reflects that it may still be navigating the turbulence more stably than its regional peers.
India Today
2 hours ago
- India Today
US to require $15,000 bonds for some tourists
LAUNCHING PILOT PROGRAM VISA BONDThe US Department of State has announced it will begin a oneyear pilot program commencing from August20, 2025, allowing consular officers to require security bonds of $5,000, $10,000, or $15,000 from some applicants for B1 (business) and B2 (tourist) visas. In practice, officers will generally start at the $10,000 level – refunding the bond if the visa holder leaves the U.S. on time in full compliance with the visa TARGETS Under a Federal Register notice, visas from countries flagged for high overstay rates or insufficient screening practices, as judged by the Department of State, may trigger the bond requirement. Although specific countries have not been officially published, cited examples include Chad, Eritrea, Haiti, Myanmar, Yemen, and several African nations such as Burundi, Djibouti, and Togo, based on CBP data from fiscal year program is similar to that of the one launched in November 2020 while Trump's presidency, but never fully implemented due to steep travel declines amid the COVID19 pandemic. 'The Pilot Program will enable the Department to assess the operational feasibility of posting, processing, and discharging visa bonds, in coordination with the Department of the Treasury ('Treasury') and the Department of Homeland Security ('DHS'), and to inform any future decision concerning the possible use of visa bonds to ensure non-immigrants using these visa categories comply with the terms and conditions of their visas and timely depart the United States,' it Than a Bond: Enforcement and Fee StrategyThis initiative corresponds with broader immigration enforcement under President Trump, including a travel ban, stepped-up border security, and tightened visa screening. The administration's broader policies have already contributed to a sharp 20% drop in travel from Canada and Mexico and transatlantic airfare returns to prepandemic addition to the bond pilot, a $250 'visa integrity fee' which is refundable for those who exit the U.S. on time, is set to take effect on October1, as part of wider congressional measures to curb nonimmigrant visa abuses. - EndsMust Watch
