World's biggest deal has happened between two countries, to directly impact economy, millions of people will be...
World's biggest deal has happened between two countries, to directly impact economy, millions of people will be…
US-China Trade Agreement: In a major development, a crucial agreement has been signed between the United States and China on the trade framework. Both countries finalised the terms that were discussed in Geneva. According to experts, the deal was done so quickly because America's economic condition is deteriorating at a fast pace, and GDP growth has plunged into negative territory. What Are The Major Points Of The Deal?
As per the deal, Beijing will supply rare earth minerals to the US, essential for several sectors such as jet engines, wind turbines and electronics. In return, America agreed to remove all the trade restrictions, including all taxes. Notably, the US imposed trade tariffs on China before the London talks. US Trade Agreement
America is planning to finalising trade agreements with as many as 10 major countries. These deals will be done before the reimposition of high tariffs. The deadline is July 9.
A wave of happiness swept through global markets, as Asian stock markets and European futures saw a rise. Global equity index reached a new record, due to trade deal expectations. Who are the other potential trade partners of America and India? Global Markets Welcomed The Decision
A wave of happiness has swept through global markets. Asian and European markets opened and remained in the green throughout the day on Friday. Global equity index reached a new record, due to trade deal expectations. Is US Planning Trade Deal With India?
A delegation led by Rajesh Agarwal is negotiating the deal in Washington on behalf of the country. Recently, United States President Donald Trump hinted at a 'Big Deal' with India. However, Japan's trade representative Ryosei Akazawa has said that they cannot accept the 25% car tariff proposed by the US. ' We are continuously making serious efforts on the tariff proposals of the US,' Japan's Chief Cabinet Secretary Yoshimasa Hayashi said during a media briefing. What Complications Does US-China Deal Have?
The deal between China and the US is not a comprehensive trade agreement. It means that the deal has several issued in it like – American exporters have a level playing field in the Chinese market. There are still concerns related to fentanyl drug trafficking.
Another example is: US has allowed companies to export ethane gas to China, but with a condition that it cannot be exported there without approval. What Will Be The Impact On India?
The new US-China trade deal includes steps like the supply of rare earth, reducing tariffs, and agreeing on new terms. It is crucial step towards reducing tensions between the two countries. However, in recent years, when the trade war between US-China was at its peak, India benefited.
During the trade war, America had imposed tariffs on several Chinese goods. Following this Indian companies (such as textiles, pharma, engineering) got the opportunity to export their products. Now if America is agreeing on importing goods from China, some of India's export sectors may feel the heat. China Dominates The Supply Of Rare Earth Minerals
It is worth noting that the Dragon dominates the rare earth minerals market. These minerals are used in electric vehicles, solar panels, chips and defence equipment.
If China resumes the supply of rare earth to America, then India will also get the benefit of stability in prices.
The United States is negotiating a potential trade agreement with ten nations, including a possible agreement with India. This agreement could grant India preferential trade access. Easing US-China tensions is boosting global investor confidence, potentially leading to increased foreign portfolio investment and stock market growth in India.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
22 minutes ago
- Business Standard
Civil servants in China are avoiding dining out: What's the reason?
Civil servants across China are avoiding dining out—even in private settings. The reason? A renewed push for Beijing's austerity campaign, due to which many officials are adopting a better safe than sorry approach to manage risk under local interpretations of central directives, according to a report by South China Morning Post. Chinese President Xi Jinping's long-running campaign against wasteful spending gained fresh momentum in March, with inspectors sent across ministries, regional governments and state-owned enterprises to ensure compliance with newly revised rules. These include bans on alcohol at work meals, luxurious dishes, and excessive office décor. What is Xi Jinping's austerity drive? Launched in 2012, Xi Jinping's austerity drive aims to curb corruption, extravagance and bureaucratic excess within the Communist Party. Initiated through the 'Eight-point Regulation', it targets lavish banquets, excessive travel, luxury offices and formalism, promoting frugality and discipline among officials. The campaign intended to restore public trust, consolidate Xi's authority, and ensure the Party's survival by improving its image and internal conduct. It also serves to identify loyal cadres and enforce political conformity. How much restriction is too much restriction? Although central directives do not ban all forms of socialising, the fear of being caught out by ever-changing interpretations has led to widespread self-censorship among officials. An official surnamed Luo from Sichuan province told South China Morning Post that a dine-out ban was announced in his department in early May. 'Eating out during this period is not good for you,' he said, citing his department head's warning. Luo described the development as a result of ceng ceng jia ma, a Mandarin phrase meaning 'adding extra layer upon layer of control'. It is widely understood in Chinese bureaucracy to describe the tendency of local authorities to excessively implement central policies, often to the point of overcorrection. The report cited another civil servant from Anhui province, who said her department had begun daily alcohol tests, coupled with post-lunch checks. 'It is just very intrusive and I don't know what the point of that is,' she told South China Morning Post. 'If I drank last night, you probably can't detect it by next morning.' One-size-fits-all response becomes the norm In Gansu province, an official surnamed Zhao said he had stopped dining out completely after being instructed to avoid 20 types of gatherings. 'This is too troublesome and too risky,' he told South China Morning Post. 'You never know what kind of dinner or entertainment will land you in trouble. The best way is just to turn down everything.' Zhao shared an example from a multiple-choice quiz issued by his disciplinary head. When asked what to do if a promoted superior's son is getting married, the 'correct' answer was to offer congratulations but not attend the banquet—an answer that contradicts longstanding cultural norms around red-envelope gifting. Luo, the Sichuan official, added that several colleagues received 'gentle reminders' from supervisors for simply eating hotpot together, despite splitting the bill. 'Our boss is trying to protect us,' Luo explained. 'If some whistle-blowers report them, they will have lots of explanation to do.' Pushback against excessive control Top authorities have begun to push back against the intensification of austerity measures at local levels. A June 17 report in the Communist Party mouthpiece People's Daily cautioned that banning banquets altogether violated the spirit of Xi's eight-point regulations on party conduct. The article stressed that the rules are meant to be applied with precision—like a 'scalpel'—but some local bodies were wielding them like a 'sledgehammer', imposing blanket bans and ignoring livelihoods. The country's food and drink industry, which generated over 5.5 trillion yuan ($775 billion) and more than 30 million jobs in 2024, was also highlighted as being at risk. Party chiefs Ma Xingrui of Xinjiang and Sun Shaocheng of Inner Mongolia echoed the message, urging officials to avoid ceng ceng jia ma and ensure the campaign is not enforced with a one-size-fits-all approach.
Time of India
28 minutes ago
- Time of India
NATO's 5% pledge: Rearming the West or rebalancing the world
In an era where geopolitical boundaries are blurred and warfare has morphed from trenches to tech, NATO 's recent commitment to invest 5% of GDP annually in defence by 2035 sends a thunderous signal—not just to adversaries, but to allies questioning the alliance's strategic relevance. The Hague Summit Declaration, adopted by 32 member states, marked a pivotal moment in transatlantic security thinking. The question now is whether this is a forward-looking strategy or a reactionary bulwark clinging to the past paradigms. At the core of the declaration lies an emphatic reaffirmation of Article 5—the principle that an attack on one NATO member is an attack on all NATO members. However, the real headline is the proposed ramp-up in defence and security-related spending: 3.5% of GDP earmarked for traditional defence infrastructure and capabilities, and an additional 1.5% for resilience, critical infrastructure protection, and innovation. This is a fundamental reset of NATO's budgetary posture, reflective of a world no longer anchored to the certainties of post-Cold War peace. The strategic rationale behind this move is evident in the literature. From Russia's protracted war in Ukraine to hybrid warfare tactics deployed through cyberattacks, misinformation campaigns, and economic coercion, the threats facing the Euro-Atlantic region are no longer just physical; they are systemic. However, the implications of NATO's new doctrine stretch far beyond Europe. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Perdagangkan CFD Emas dengan Broker Tepercaya IC Markets Mendaftar Undo By including Ukraine's security under the umbrella of NATO's own, the alliance is signalling that Kyiv's stability is no longer peripheral—it is central to the European defence architecture. Although the declaration stops short of directly naming Russia as an aggressor, it unequivocally categorises it as a long-term threat. The political calculus here is clear: to maintain unity among diverse member states while advancing a credible deterrent posture. However, pledging 5% of GDP—especially in times of economic uncertainty, rising public debt, and shrinking fiscal room—will not be without domestic blowback. For many European countries, where defence budgets have long played second fiddle to social spending, the pivot will require not only financial reallocation but also political will. The path to 2035 will be fraught with parliamentary debates, economic trade-offs, and inevitable scrutiny from taxpayers questioning the utility of militarisation during peacetime. Live Events That said, NATO's blueprint smartly distinguishes between "hard power" and 'soft shield' spending. By allocating up to 1.5% for cyber defense , critical infrastructure, industrial innovation, and civil preparedness, the alliance acknowledges the multidimensional nature of modern warfare. Drones, AI, satellite technologies, and quantum encryption will define future battles. This is NATO's attempt to future-proof itself. Another compelling aspect of the declaration is its call to dismantle internal defence trade barriers and catalyse transatlantic industrial cooperation. The subtext? Europe's dependence on American defence systems must evolve into a mutual technological collaboration. With U.S. domestic politics becoming increasingly isolationist and polarised, especially in light of looming electoral uncertainties, Europe has no choice but to shoulder more of the strategic burden of NATO. The timing of this declaration cannot be ignored. This occurs at a time when questions are being raised about the longevity of American leadership and the cohesion of Western alliances. Populist politics, migration crises, climate-induced conflicts, and digital disruptions are redrawing the map of security concerns. In this light, NATO's 5% commitment is as much about deterrence as it is about staying relevant. However, for all its ambition, the declaration raises a philosophical question: can militarised investment alone secure peace in a world where most battles are fought in cyberspace, legislatures, and courtrooms? While NATO shores up its arsenal, adversaries weaponize currency systems, manipulate public opinion through AI-generated propaganda, and infiltrate supply chains. In such a scenario, defence must be defined not only by missiles and manpower but also by legal resilience, technological agility, and economic fortitude. In its closing remarks, the summit's declaration looks ahead—to Türkiye in 2026 and Albania thereafter. Symbolically, this eastward shift in NATO meeting venues reflects a changing strategic frontier. The frontlines are no longer confined to the Fulda Gap but extend into the Black Sea, Indo-Pacific, and digital cloud networks connecting us all. Ultimately, NATO's 5% pledge is more than just a budgetary item. It is a test of collective resolve in a fractured global order. If implemented wisely—with strategic clarity, equitable burden-sharing, and an eye on emerging threats—it could become a blueprint for securing liberal democracies in a multipolar, volatile world. But if the focus remains confined to tanks and treaties while ignoring the algorithmic and institutional battlefields of the 21st century, NATO risks building a fortress for yesterday's war The author is Department of Commerce, Assistant Professor and Research Supervisor, St. Thomas College (Autonomous), Thrissur, Kerala
Time of India
31 minutes ago
- Time of India
5 Features Android borrowed From iPhone!
Hamas Rains Rocket On Israel From Gaza After Iran War; 'FURIOUS' IDF Warns Palestinians | Watch The Israel Defense Forces issued a warning for Palestinians to evacuate parts of Central Gaza after a rocket was launched from the area at Israel. The IDF said it will destroy all terrorists in the area from where the rocket was fired. Meanwhile, US President Donald Trump said a ceasefire between Israel and Hamas could be achieved within the next week. 4.1K views | 1 day ago
