India has been ‘a bit recalcitrant' in trade talks, says US Treasury's Bessent
Bessent told Fox Business Network's "Kudlow" he hoped the Trump administration could wrap up its trade negotiations by the end of October.
"That's aspirational, but I think we are in a good position," he said, adding ' I think we can be, we will have agreed on substantial terms with all the substantial countries.'
(With inputs from Reuters)
(This is a developing story)
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Business Standard
an hour ago
- Business Standard
Donald Trump heads to 'high stakes' Alaska summit with Putin on Ukraine
Donald Trump headed to Alaska on Friday for what he called a "high stakes" summit with Russia's Vladimir Putin to discuss a ceasefire deal for Ukraine to help end the deadliest war in Europe since World War Two. Ukrainian President Volodymyr Zelenskiy, who was not invited to the talks, and his European allies fear Trump might sell out Ukraine by essentially freezing the conflict and recognising - if only informally - Russian control over one fifth of Ukraine. Trump sought to assuage such concerns as he boarded Air Force One, saying he would let Ukraine decide on any possible territorial swaps. "I'm not here to negotiate for Ukraine, I'm here to get them at a table," he said. Both the U.S. and Russian presidents, due to meet at a Cold War-era air force base in Alaska's largest city, are seeking wins from their first face-to-face talks since Trump returned to the White House. Trump, who casts the war as a "bloodbath" fraught with escalatory risk, is pressing for a truce in the 3-1/2-year-old war that would bolster his credentials as a global peacemaker worthy of the Nobel Peace Prize. For Putin, the summit is already a big win as he can use it to say that years of Western attempts to isolate Russia have unravelled and that Moscow has retaken its rightful place at the top table of international diplomacy. The summit, the first between a U.S. and Russian leader since 2021, was set to start at 11 a.m. Alaska time (1900 GMT). Trump, who once said he would end Russia's war in Ukraine within 24 hours, conceded on Thursday it had proven a tougher nut to crack than he thought. He said that if Friday's talks went well, quickly arranging a second three-way summit with Zelenskiy would be even more important than his encounter with Putin. "It's time to end the war, and the necessary steps must be taken by Russia. We are counting on America," Zelenskiy wrote on the Telegram messaging app on Friday, adding that the Trump-Putin meeting should open the way for a "just peace" and three-way talks with him included. 'SMART GUY' Of Putin, Trump said on Friday: "He is a smart guy, been doing it for a long time but so have I... We get along, there's a good respect level on both sides." He also welcomed Putin's decision to bring a lot of businesspeople with him to Alaska. "But they're not doing business until we get the war settled," he said, repeating a threat of "economically severe" consequences for Russia if the summit goes badly. One source acquainted with Kremlin thinking said there were signs that Moscow could be ready to strike a compromise on Ukraine given that Putin understood Russia's economic vulnerability and costs of continuing the war. Reuters has previously reported that Putin might be willing to freeze the conflict along the front lines, provided there was a legally binding pledge not to enlarge NATO eastwards and to lift some Western sanctions. Russia, whose war economy is showing signs of strain, is vulnerable to further U.S. sanctions - and Trump has threatened tariffs on buyers of Russian crude, primarily China and India. "For Putin, economic problems are secondary to goals, but he understands our vulnerability and costs," the Russian source said. On the eve of the summit, Putin held out the prospect of something else he knows Trump wants - a new nuclear arms control agreement to replace the last surviving one, which is due to expire in February next year. COMMON GROUND? The source familiar with Kremlin thinking said it looked as if the two sides had been able to find some common ground. "Apparently, some terms will be agreed upon... because Trump cannot be refused, and we are not in a position to refuse (due to sanctions pressure)," said the source, who spoke on condition of anonymity because of the matter's sensitivity. Putin has so far voiced stringent conditions for a full ceasefire, but one compromise could be a truce in the air war. Putin has said he is open to a ceasefire but has repeatedly said the issues of verification need to be sorted out first. Zelenskiy has accused Putin of playing for time to avoid U.S. secondary sanctions and has ruled out formally handing Moscow any territory. Beyond territory, Ukraine has been clear in talks with Western allies that it needs a security guarantee backed by Washington. It is unclear how that guarantee could work - and what part the U.S. would play in it. Ukrainians who spoke to Reuters in central Kyiv on Friday were not optimistic about the Alaska summit. "Nothing good will happen there, because war is war, it will not end. The territories - we're not going to give anything to anyone," said Tetiana Harkavenko, a 65-year-old cleaner.
Hindustan Times
an hour ago
- Hindustan Times
Odisha to give 5 kg addl rice free to 2.7 million poor families for next 3 months: Majhi
Odisha chief minister Mohan Charan Majhi on Friday said more than 2.7 million poor families in 11 districts would receive 5 kg of additional rice for three months free of cost in addition to the rice being supplied under Garib Kalyan Anna Yojana. FILE PHOTO: Labourers unload rice crop from a trolley in a grain market. (REUTERS/Representative Image) Speaking at a function here on Friday, Majhi said each eligible family in eight KBK districts, including Boudh, Gajapati, and Kandhamal, will receive 5 kg of free rice per month for the next three months. Majhi said the government will spend ₹180 crore to distribute 41,082 tonnes of additional rice among them. The announcement comes after the state government decided in July to suspend ration distribution to 2.058 million beneficiaries who have not completed the mandatory e-KYC for their ration cards. At the time, food supplies and consumer welfare minister Krushnachandra Patra had declared that beneficiaries had three months to complete the process or face permanent cancellation. Officials said the decision would also help ease the pressure on the state's godowns, which were holding surplus parboiled rice. The Food Corporation of India is not lifting parboiled rice from Odisha and the three other states, Bihar, West Bengal and Jharkhand, haven't evinced interest in lifting parboiled rice either. FCI has so far lifted 14.33 lakh tonne till the end of July, leaving a stockpile of nearly 12 lakh tonne with the rice millers.
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First Post
an hour ago
- First Post
7 things to expect from Trump-Putin Alaska summit
President Donald Trump and President Vladimir Putin will meet in Alaska for the most crucial US–Russia summit in years, with discussions spanning a Ukraine ceasefire, territorial negotiations, NATO policy, and possible business deals. This will be Trump's first face-to-face meeting with Putin in his second term. Reuters/File Photo The world is focused on what could be the most important US-Russia summit in years as President Donald Trump and President Vladimir Putin get ready to meet in Alaska. As the conflict in Ukraine enters its fourth year, there are many hopes and concerns about whether the negotiations will result in a breakthrough or just deepen current divisions. Also read: 'Russia is not invincible': Polish president recalls past victories, says Moscow 'floundering' in Ukraine STORY CONTINUES BELOW THIS AD The agenda is as broad as it is controversial, ranging from possible ceasefires to geopolitical trade-offs and possible business agreements. A ceasefire The primary goal of the Alaska summit is to advocate for a cease-fire in the Ukraine war. Trump is seeking a ceasefire to showcase his peacemaking credentials, and Putin may be open given Moscow's rising economic pressures. Land swaps Any deal may implicitly accept that Russia controls around one-fifth of Ukrainian land. Trump proposed the concept of land exchanges, which he subsequently modified, saying the objective would be to 'get some territory back for Ukraine.' Analysts believe Putin may demand complete control of Donbas and Ukrainian disengagement from the remaining areas in exchange for minimal territorial concessions. Russia's battlefield gains Russia controls about a fifth of Ukraine and is demanding more land, including the rest of Donetsk, in exchange for a ceasefire, an offer which Kyiv rejects. Ukraine is open to a truce along current frontlines, with the fate of occupied territories deferred to future talks, possibly decades away. Security guarantees for Ukraine Ukraine rejects neutrality and demilitarisation and seeks strong security guarantees. Although specifics are yet unknown, Trump seems amenable to US engagement in the European reassurance force that France has suggested. Nato blocked for Ukraine One of the key demands which Russia has is that Ukraine drops its ambition to join Nato. Proposals under discussion may involve a formal or informal halt to Nato expansion concerning Ukraine. STORY CONTINUES BELOW THIS AD Another round of talks Despite Zelenskyy's exclusion from the Alaska summit, Trump is eager to meet with Putin and Zelenskyy in a trilateral setting after the summit, possibly along with European leaders. Business agreements Putin's delegation includes economic and investment envoys, which suggests that business deals, possibly involving access to Russian minerals, could be on the table. There may also be talks about the New START nuclear treaty, which will end in February 2026.
