China's ‘overwhelming bullying' statement after foreign ministers' meet as Trump tariff deadline for India nears
According to a statement from the foreign ministry in Beijing, India and China should expand cooperation and provide certainty for the world. The statement comes amid Donald Trump's 25 per cent additional tariff threat against India for purchasing Russian crude oil.
Jaishankar, on the other hand, said both neighbours want better relations, in the latest sign of a thaw between the Asian rivals as they push to normalise relations.
'Having seen a difficult period in our relationship' both nations 'now seek to move ahead", Jaishankar said in New Delhi. 'Differences must not become disputes, nor competition conflict,' he added.
'Overall, it is our expectation that our discussions would contribute to building a stable, cooperative and forward-looking relationship between India and China,' Jaishankar said.
Wang Yi, who is visiting India for the first time in three years, will also meet India's National Security Adviser Ajit Doval to discuss the two countries' border dispute before calling on Prime Minister Narendra Modi on Tuesday.
Donald Trump's tariffs on both countries' exports, as well as threats to penalise India for buying Russian oil, are adding urgency to normalise ties. Trump has slapped tariffs of 50 per cent over New Delhi's purchases of Russian oil, a level that would decimate many Indian exporters. The new import tax will come into effect from August 27
Wang's visit and meetings will set the tone for Chinese President Xi Jinping's bilateral talks with Prime Minister Narendra Modi later this month on the sidelines of the Shanghai Cooperation Organisation summit. This will be Modi's first visit to China in seven years.
The bilateral relationship between India and China hit rock bottom after a bloody border skirmish at the Galwan Valley five years ago, but relations have recently been on the mend.
Beijing has loosened curbs on urea exports, New Delhi has reinstated tourist visas for Chinese nationals, and a growing number of Indian businesses have been seeking partnerships with Chinese companies for deals, including technology transfers, Bloomberg has reported.
(With inputs from Bloomberg)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Hindu
13 minutes ago
- The Hindu
Justice Tiruvarur Muthuswami Iyer statue in Chennai: Remembering an icon of the Madras High Court
The history of Chennai can never be complete without a reference to the 163-year-old Madras High Court functioning from a 133-year-old heritage building. The history of the High Court as well as its building can never be concluded without recording admiration for the imposing white marble statue of Sir Justice Tiruvarur Muthuswami Iyer. Born on January 28, 1832 at Uchuvadi in Thanjavur (then called Tanjore) district, his childhood was a grim struggle due to poverty. Yet, he rose to become the first Indian judge of the Madras High Court in 1878 and held the office till his death on January 25, 1895. In 1898, the then Chief Justice Sir Arthur John Hammond Collins installed his marble statue. Located at a commanding position that serves as the nucleus to the High Court building, the statue of Justice Muthuswami Iyer is a tribute to a judge who used to remove his footwear before climbing up the court dais to deliver justice. Even today, scores of lawyers and court staff begin their daily work only after circumambulating his statue and paying floral tributes. What could never be missed in the pages of history is that there was strong opposition from a section of Europeans to the appointment of an Indian as a judge of the High Court. It was this opposition that triggered the birth of The Hindu in 1878 primarily to support the elevation of an Indian to the very high judicial office during the British Raj and to counter the opposition.
The Hindu
13 minutes ago
- The Hindu
Cotton import duty exemption a death warrant to farmers, says Samyukt Kisan Morcha
The Union Textile Ministry said in New Delhi on Tuesday (August 19, 2025) that the decision to exempt all customs duties on the import of raw cotton until September 30 was meant to stabilise domestic cotton prices and support the textile industry. Meanwhile, the Samyukt Kisan Morcha (SKM), an umbrella organisation of several farmers' outfits, alleged that the move signalled a death warrant to cotton farmers. The SKM said it strongly protested the notification to eliminate the import tariff on cotton as it would have a direct impact on the domestic price of cotton. 'Cotton price will definitely fall and farmers will face further distress and indebtedness,' the SKM said, accusing Prime Minister Narendra Modi of duplicity and betrayal, and asking him to explain his earlier statement that farmers were his government's highest priority. In the past 11 years, the SKM said cotton farmers were never given a minimum support price for cotton, as recommended by the M.S. Swaminathan Commission. 'The entire cotton area is the highest peasant suicide prone region of India. The elimination of import duty on cotton will further eliminate the livelihood of lakhs of cotton farmer households,' the SKM said. Meanwhile, the Ministry of Textiles said in a statement that the exemption includes the removal of both the 5% Basic Customs Duty, the 5% Agriculture Infrastructure and Development Cess, and a 10% Social Welfare Surcharge on both, cumulatively resulting in an 11% import duty on cotton. 'The decision, notified by the Central Board of Indirect Taxes and Customs, is expected to lower input costs across the textile value chain encompassing yarn, fabric, garments, and made-ups and provide much needed relief to manufacturers and consumers alike,' the Ministry said, adding that the government aims to enhance the availability of raw cotton in the domestic market, stabilise cotton prices, and thereby reduce inflationary pressure on finished textile products, and support export competitiveness of Indian textile products by lowering production costs. The move will protect small and medium enterprises (SMEs) in the textile sector, which are more vulnerable to price fluctuations, the government said.
&w=3840&q=100)
Business Standard
13 minutes ago
- Business Standard
Datanomics: GST rate-cut move chases push akin to the Laffer curve
GST collections expanded just 1.7 per cent in July, the slowest growth rate since the Centre began publishing monthly net receipts Indivjal Dhasmana New Delhi Listen to This Article Prime Minister Narendra Modi has announced a reduction in goods and services tax (GST) rates on essential items ahead of Diwali, even as revenue growth under the eight-year-old regime has slowed to its weakest level. The move appears designed to trigger a Laffer curve–type response: Though the principle is rooted in direct taxation, the extension to GST suggests that lower rates could stimulate consumption and curb evasion. The Laffer curve posits that both excessively high and excessively low tax rates are suboptimal for revenue generation. GST collections expanded just 1.7
