Latest news with #India-BrazilStrategicPartnership
Economic Times
a day ago
- Business
- Economic Times
Brazilian envoy in India says Trump tariffs an opportunity to do more business with trusted partners
ANI Brazilian envoy in India says Trump tariffs an opportunity to do more business with trusted partners New Delhi: Brazil's Ambassador in India, Kenneth Felix Haczynski, on Monday said they see the US administration's tariffs as a challenge, but at the same time, it is an opportunity to look for "trusted partners" to do more business."We suffer the imposition of unexpected high tariffs. we (are) seeing the tariffs imposed on our country as a challenge, but also an opportunity to look for trusted partners and to do more business," the Brazilian envoy told ANI. Regarding how they will deal with Trump tariffs, the envoy stated that Brazil is open to negotiating deals, though within the limits of its sovereignty. Brazil and India both face 50 per cent tariffs from the President Donald Trump administration. The Brazilian envoy also described as "fruitful" the latest telephonic conversation between Prime Minister Narendra Modi and President Luiz Inacio Lula da Silva. "I think it was a very, very fruitful conversation, because the focus what we are trusted partners. We have had long relations, (and we are looking at) what we can do more together," the envoy Minister Modi received a telephone call on August 7, 2025, from the President of Minister recalled his visit to Brazil last month during which the two leaders agreed on a framework to strengthen cooperation in trade, technology, energy, defence, agriculture, health and people-to-people ties. Building on these discussions, they reiterated their commitment to take the India-Brazil Strategic Partnership to new two leaders exchanged views on various regional and global issues of mutual interest. The two leaders agreed to remain in over the past few months, India and the US have been negotiating for an interim trade deal, but there were some reservations from the Indian side on the US demand for opening up the agricultural and dairy sectors for the US. Agriculture and dairy are critical for India as these two sectors provide livelihood opportunities to a large section of its Trump announced the imposition of a total 50 per cent tariffs on Indian goods, even as there were hopes of an interim India-US trade deal that would have otherwise helped avoid elevated and the US initiated talks for a just, balanced, and mutually beneficial Bilateral Trade Agreement (BTA) in March this year, aiming to complete the first stage of the Agreement by October-November April 2, 2025, President Trump signed an executive order for reciprocal tariffs on various trade partners, imposing varied tariffs in the range of 10-50 per cent. He subsequently kept the tariffs in abeyance for 90 days, while imposing a 10 per cent baseline tariff. The deadline was to end on July 9, and the US administration later pushed it ahead to August 1. US President Donald Trump has imposed reciprocal tariffs on dozens of countries with which the US has a trade deficit. Since assuming office for his second term, President Trump has reiterated his stance on tariff reciprocity, emphasising that the United States will match tariffs imposed by other countries, including India, to "ensure fair trade".
Time of India
5 days ago
- Business
- Time of India
Brazil's Lula dials PM Modi as Trump slaps 50% tariff on both nations
NEW DELHI: Brazilian President Luiz Inacio Lula da Silva dialled PM Modi to discuss "imposition of unilateral tariffs", exploring possibility of greater integration between the two countries. Backing India's upcoming Brics presidency, Lula accepted Modi's invitation to visit India early next year, according to a readout by his office. Both Brazil and India have been slapped with 50% tariffs by the US & Lula earlier this week, when asked about Trump's remark that the Brazilian president was going to call him, had said he was going to dial Modi. While India has chosen to avoid any direct confrontation with Trump, Lula has taken him on, ruling out direct talks between him and the US president that he said would end in "humiliation". Brazil, however, is still negotiating for a trade deal with the US like India. Lula said during the hour-long conversation that Brazil and India are the two countries most affected by tariffs and both leaders, according to a Brazilian statement, reaffirmed the importance of defending multilateralism and the need to address the challenges of the current situation. On his talks with Lula, Modi later said in a post on X that a strong, people-centric partnership between Global South nations benefits everyone. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like These Are The Most Beautiful Women In The World Undo As a preparatory step for Lula's visit, according to Brazil, the leaders agreed that Vice-President Geraldo Alckmin will travel to India next Oct for the Trade Monitoring Mechanism meeting. "The delegation will include Brazilian ministers and business people to discuss cooperation in trade, defence, energy, critical minerals, health, and digital inclusion," said the Brazilian statement. A separate statement by India said the leaders exchanged views on regional and global issues and agreed to enhance cooperation in trade, tech, energy, defence, agriculture, health and people-to-people ties. Modi recalled his visit to Brazil last month during which the two agreed on a framework to strengthen ties in same areas. "Building on these discussions, they reiterated their commitment to take India-Brazil Strategic Partnership to new heights. The two leaders exchanged views on various regional and global issues of mutual interest. The two leaders agreed to remain in touch," said the Indian statement. According to a Reuters report from Brasilia, Lula has said he is open to negotiating a trade deal with the US, but dismissed Trump's complaints about the trial of his right-wing ally and former president Jair Bolsonaro as a threat to Brazilian sovereignty & judicial independence.
India.com
5 days ago
- Business
- India.com
BRICS Puts Up Show Of Unity To Counter US President Trumps Tariff Bullying; Agrees To...
United States President Donald Trump might be thinking that his global tariffs have started paying a dividend. In the last week, Trump's focus has been on India. Trump has unleashed a 51% tariff on Indian goods. It accused India of funding Russian war machines. Trump criticised the BRICS, saying that the five-nation grouping is against America and is working towards de-dollarisation. However, Trump's gambit, in return, has further united the BRICS instead of hurting the organisation. While Russia clearly said that it is supported by the BRICS partners and the nations would continue to cooperate with each other, India, China and Brazil have emphasised greater cooperation. India, Brazil Discuss Ties Prime Minister Narendra Modi received a telephone call on Thursday from President of Brazil Luiz Inácio Lula da Silva. The Prime Minister recalled his visit to Brazil last month, during which the two leaders agreed on a framework to strengthen cooperation in trade, technology, energy, defence, agriculture, health and people-to-people ties. Building on these discussions, they reiterated their commitment to take the India-Brazil Strategic Partnership to new heights. The two leaders exchanged views on various regional and global issues of mutual interest. India, Russia Meeting Indian NSA Ajit Doval met Russian President Vladimir Putin on Thursday, where the two discussed strengthening ties and future partnership. The Kremlin described the talks as 'constructive,' underscoring the continuity of dialogue between the two countries despite shifting global alignments. NSA Doval hailed the partnership between the two nations. "We have now established very good relations, which we value very much - a strategic partnership between our countries,' said Doval. China Backs India, Modi At SCO China on Thursday quoted a statement from an Indian newspaper, hinting that it supports India's sovereignty when it comes to choosing a trading partner. The quote shared by a Chinese spokesperson reads, "India's sovereignty is non-negotiable and its foreign policy choices cannot be manipulated by other countries, no matter how significant their own ties with India are." Also, in a major development, it was confirmed that Prime Minister Narendra Modi will visit China on August 31 for the summit of the Shanghai Cooperation Organisation. This will be PM Modi's first visit in the last seven years. It signifies that amid Trump's unstable policies, India and China are keen on reviving their relationship. BRICS Shows Mirror To Trump By uniting in challenging times, the BRICS nations have sent a clear message: Trump can no longer intimidate them, and the five countries will continue to trade and cooperate on their own terms. The BRICS countries have agreed to further strengthen their ties and mutual cooperation. Also, if Russia, China and India manage to rebuild their torika, it would be a final nail in the United States' Indo-Pacific dream.
New Indian Express
5 days ago
- Business
- New Indian Express
Facing heat of US tariffs, Modi and Lula vow to deepen ties
NEW DELHI: Prime Minister Narendra Modi and Brazilian President Luiz Inácio Lula da Silva held a phone conversation on Thursday, reaffirming their commitment to deepening the India-Brazil Strategic Partnership across key sectors including trade, energy, defence, and technology. The call comes at a time when both countries are facing steep tariffs from the United States—each now subject to a 50% duty on select exports, the highest imposed by Washington on any of its trading partners. The punitive measures have drawn strong reactions from both New Delhi and Brasília. An official statement said the two leaders agreed to accelerate cooperation in 'trade, technology, energy, defence, agriculture, health, and people-to-people ties.' They also exchanged views on regional and global developments of mutual interest, indicating a shared desire to align more closely on key multilateral issues.
Time of India
5 days ago
- Business
- Time of India
PM Modi speaks with Brazil President Lula, discuss framework to strengthen trade amid Trump tariff pressure
Prime Minister Narendra Modi received a telephone call on Thursday from the President of Brazil, Luiz Inácio Lula da Silva, amid "Prime Minister recalled his visit to Brazil last month during which the two leaders agreed on a framework to strengthen cooperation in trade, technology, energy, defence, agriculture, health and people-to-people ties. Building on these discussions, they reiterated their commitment to take India-Brazil Strategic Partnership to new heights. The two leaders exchanged views on various regional and global issues of mutual interest. The two leaders agreed to remain in touch," said an official statement of Prime Minister's Office. Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program
