India, China eye resuming border trade
Past trade across the icy and high-altitude Himalayan border passes between the neighbors was usually small in volume, but any resumption is significant for its symbolism.
The two major economic powers have long competed for strategic influence across South Asia.
But caught in global trade and geopolitical turbulence triggered by US President Donald Trump's tariff regime, the countries have moved to mend ties.
Chinese Foreign Minister Wang Yi is expected for talks in New Delhi on Monday, according to Indian media, after his counterpart Subrahmanyam Jaishankar visited Beijing in July.
That, as well as agreements to resume direct flights and issue tourist visas, has been seen as an effort to rebuild a relationship damaged after a deadly border clash in 2020 between their nations' troops.
'For a long time, China-India border trade cooperation has played an important role in improving the lives of people living along the border,' China's foreign ministry said in a statement to AFP on Thursday.
It added that the two sides have 'reached a consensus on cross-border exchanges and cooperation, including resumption of border trade'.
New Delhi's junior foreign minister, Kirti Vardhan Singh, told parliament last week that 'India has engaged with the Chinese side to facilitate the resumption of border trade'.
No restart date was given by either side.
Successive US administrations have seen India as a longstanding ally with like-minded interests when it comes to China.
India is part of the Quad security alliance with the United States, as well as Australia and Japan.
But ties between New Delhi and Washington have been strained by Trump's ultimatum for India to end its purchases of Russian oil, a key source of revenue for Moscow as it wages its military offensive in Ukraine.
The United States will double new import tariffs on India from 25 percent to 50 percent by August 27 if New Delhi does not switch crude suppliers.
Prime Minister Narendra Modi, according to Indian media, might also visit China in late August. It would be Modi's first visit since 2018, although it has not been confirmed officially.
Beijing has said that 'China welcomes Prime Minister Modi' for the Shanghai Cooperation Organisation summit opening on August 31.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arab News
11 minutes ago
- Arab News
India and China eye resumption of border trade after five years
NEW DELHI: India and China are discussing resuming border trade five years after it was halted, foreign ministry officials on both sides have said, as US tariffs disrupt the global trade order. Past trade between the neighbors across the icy and high-altitude Himalayan border passes was usually small in volume, but any resumption is significant for its symbolism. The two major economic powers have long competed for strategic influence across South Asia. However, the two countries, caught in global trade and geopolitical turbulence triggered by US President Donald Trump's tariff regime, have moved to mend ties. Chinese Foreign Minister Wang Yi is expected for talks in New Delhi on Monday, according to Indian media, after his counterpart Subrahmanyam Jaishankar visited Beijing in July. That, as well as agreements to resume direct flights and issue tourist visas, has been seen as an effort to rebuild a relationship damaged after a deadly 2020 border clash between troops. 'For a long time, China-India border trade cooperation has played an important role in improving the lives of people living along the border,' China's foreign ministry said in a statement sent to AFP on Thursday. It said the two sides have 'reached a consensus on cross-border exchanges and cooperation, including resumption of border trade.' New Delhi's junior foreign minister, Kirti Vardhan Singh, told parliament last week that 'India has engaged with the Chinese side to facilitate the resumption of border trade.' No restart date was given by either side. Successive US administrations have seen India as a longstanding ally with like-minded interests when it comes to China. India is part of the Quad security alliance with the United States, as well as Australia and Japan. However, ties between New Delhi and Washington have been strained by Trump's ultimatum for India to end its purchases of Russian oil, a key source of revenue for Moscow as it wages its military offensive in Ukraine. The United States will double new import tariffs on India from 25 percent to 50 percent by August 27 if New Delhi does not switch crude suppliers. Indian foreign ministry spokesman Randhir Jaiswal told reporters on Thursday that the partnership between New Delhi and Washington had 'weathered several transitions and challenges.' Jaiswal said India hoped that the 'relationship will continue to move forward based on mutual respect and shared interests.' He said India 'stands ready' to support the efforts to end the Ukraine war and endorses the summit to be held between Trump and Russian President Vladimir Putin in Alaska on Friday. Prime Minister Narendra Modi, according to Indian media, might also visit China in late August. It would be Modi's first visit since 2018, although it has not been confirmed officially. Beijing has said that 'China welcomes Prime Minister Modi' for the Shanghai Cooperation Organization summit opening on August 31.
Saudi Gazette
an hour ago
- Saudi Gazette
Putin praises Trump's peace efforts and floats potential nuclear deal at Alaska summit
MOSCOW — Russian President Vladimir Putin praised the Trump administration's 'energetic' efforts to stop the war in Ukraine and hinted that Moscow and Washington could strike a deal on nuclear arms control during their summit on Friday in Alaska. In his first public comments since US President Donald Trump announced the Alaska summit, Putin on Thursday chaired a meeting of senior Russian officials at the Kremlin to brief them on the state of play in negotiations with the US on Ukraine. 'The current American administration... is making, in my opinion, quite energetic and sincere efforts to stop the hostilities, stop the crisis and reach agreements that are of interest to all parties involved in this conflict,' Putin said. In his brief remarks, Putin said the summit with the US aims to 'create long-term conditions for peace between our countries, as well as in Europe, and in the world as a whole.' He suggested this broader peace can be achieved if, in the 'next stages' of discussions with the US, 'we reach agreements in the area of control over strategic offensive weapons.' Although it was not clear what kind of deal Putin referred to, most strategic weapons treaties between the US and Russia have covered nuclear weapons, or nuclear-capable missile US and Russia agreed to limit their arsenals of nuclear arms under the New START treaty, which came into force in 2011. Under the agreement, both countries had seven years to meet defined limits on the number of deployed intercontinental-range nuclear weapons they can have. The treaty, however, is due to expire in February a sign of unease between the two countries, Trump this month said he ordered two nuclear submarines to be strategically positioned near Russia, in response to what he said were 'highly provocative' remarks by Dmitry Medvedev, Russia's former president and the current deputy chairman of its Security is prone to erratic outbursts on social media – often raising the specter of nuclear conflict – but Trump said he made the decision 'in case these these foolish and inflammatory statements are more than just that.'Also on Thursday, Yury Ushakov, Putin's foreign policy aide, shared more details about the plans for Friday's summit, saying the presidents will first have a one-on-one conversation, with the help of interpreters, before continuing talks over a business aide said the talks will focus on the war in Ukraine, as well as the prospects of cooperation between Russia and the US in trade and economic issues. After the talks, the presidents will hold a joint press conference, he will be one of five members on Russia's negotiating team, along with Foreign Minister Sergey Lavrov, Defense Minister Andrey Belousov, Finance Minister Anton Siluanov and Kirill Dmitriev, a senior negotiator and head of Russia's sovereign wealth and Europe have not been invited to the summit, raising fears Kyiv could be forced into unwanted to get Trump's ear one last time before he sits down one-on-one with Putin, European leaders on Wednesday held a call with the US Europeans struck a cautiously upbeat note after the meeting, claiming that Trump had been sympathetic to their calls for an immediate ceasefire, and that Ukraine must have a seat at the table in future negotiations. — CNN
Saudi Gazette
an hour ago
- Saudi Gazette
US warns of additional tariffs on India if Trump-Putin peace talks fail
MUMBAI — US Treasury Secretary Scott Bessent has warned that Washington could increase secondary tariffs on India. He said the decision would depend on the outcome of President Donald Trump's meeting with Russian counterpart Vladimir Putin in Alaska on Friday. "We've put secondary tariffs on Indians for buying Russian oil. And I could see, If things don't go well, then sanctions or secondary tariffs could go up," Bessent said in an interview to Bloomberg TV on Wednesday. Earlier this month, Trump imposed a 25% penalty on India in addition to 25% tariffs for buying oil and weapons from Russia. The US has been trying to mediate a ceasefire between Russia and Ukraine, and on Wednesday, Trump warned of "severe consequences" if Moscow did not agree to a peace deal. Trump and Putin are set to meet in Anchorage on Friday to discuss how to end the war in Ukraine."President Trump is meeting with President Putin, and the Europeans are in the wings carping about how he should do it, what he should do. The Europeans need to join us in these sanctions. The Europeans need to be willing to put on these secondary sanctions," Bessent increased imports of cheap Russian crude since the Ukraine war have strained India-US relations and disrupted ongoing trade talks with oil made up 35% to 40% of India's oil imports in 2024 - up from 3% in has defended its purchases of Russian oil, arguing that as a major energy importer, it must buy the cheapest available crude to protect millions of poor Indians from rising comments come after he called India a "bit recalcitrant" on trade negotiations in an interview with Fox Business on says his tariffs are part of his administration's plan to boost the US' economy and make global trade has repeatedly called India a tariff abuser and is keen to trim a $45bn (£33bn) trade deficit with Asia's third largest negotiations between Delhi and Washington have been under way for several months, and are set to renew with US negotiators expected to arrive in India on 25 experts say India's refusal to reduce duties on agriculture and dairy products has been a major thorn in the new 50% tariff rate on India is set to come into effect on 27 August, which some experts have said is akin to an embargo on trade between the two makes India the most heavily taxed US trading partner in Asia and is expected to severely hamper its exports focused industries like textiles and jewellery, and could drag India's growth down by as much as half a percent. — BBC
