Latest news with #economiclinks
New York Times
5 days ago
- Business
- New York Times
Russia Seeks to Add Trade and Arms Control Into Trump-Putin Talks
A day ahead of the meeting between President Trump and President Vladimir V. Putin of Russia, the Kremlin on Thursday signaled that apart from Ukraine, it was also interested in discussing other subjects, like economic links and nuclear arms. Remarks by Mr. Putin and his foreign policy aide highlighted how, when dealing with Washington, Moscow has tried to dilute discussions about ending the fighting in Ukraine by packaging them together with other bilateral issues. In particular, Russia has focused on the prospect of discussing arms control and restoring economic ties with the United States. On Thursday, Mr. Putin convened top officials at the Kremlin to brief them about the next day's meeting. In his opening remarks, Mr. Putin said he believed that the United States was making 'quite energetic efforts to stop the fighting, end the crisis, and reach agreements of interest to all parties involved in this conflict.' He added that an agreement on Ukraine 'would create long-term conditions of peace between our countries, in Europe, and in the world as a whole, if we reach agreements in the next stages in the field of strategic offensive arms control.' Because of increased hostility between the two countries and the power disparity after the Soviet collapse, the arms-control regime that anchored relations between Moscow and Washington during the Cold War has significantly weakened. At the beginning of August, Russia said that it would no longer abide by a defunct treaty prohibiting the deployment of intermediate-range missiles. The nuclear arms reduction treaty, signed in 2011 during a brief thaw between the two countries, is set to expire next February. Want all of The Times? Subscribe.
Japan Times
6 days ago
- Business
- Japan Times
India-China thaw takes shape as Modi embraces BRICS over Trump
India and China are restoring economic links strained by a deadly 2020 border clash, the latest sign Prime Minister Narendra Modi is drawing closer to BRICS after U.S. President Donald Trump hit the South Asian nation with a 50% tariff. Modi's latest move is to resume direct flights with China as soon as next month, said people familiar with the negotiations who asked for anonymity to discuss private matters. The effort gained momentum in recent weeks, and airlines have been briefed on the proposal, they said. Flights were suspended during the COVID-19 pandemic, which coincided with a sharp decline in relations between the nuclear-armed neighbors after border clashes in the Himalayas killed 20 Indian soldiers and an unknown number of Chinese troops. Modi's economic calculus was fundamentally altered this month when Trump doubled tariffs on Indian goods to 50% as a penalty for its purchases of Russian oil. The U.S. president's remarks that India's economy was "dead' and its tariff barriers "obnoxious' further strained relations. The blow from India's largest trading partner hit hard, especially after Modi had lavished praise on Trump and was among the first foreign leaders to visit after his return to the White House. Henry Wang, president of the Center for China and Globalization think tank in Beijing, said relations between India and China are in an "up cycle,' and as leaders of the Global South, "they have to really speak to each other.' "Trump's tariff war on India has made India realize that they have to maintain some kind of strategic autonomy and strategic independence,' he said. China, also a prime target in Trump's trade wars, has also shown signs it's ready for a thaw. This month, it eased curbs on urea shipments to India — the world's largest importer of the fertilizer. Although initial volumes are small, the trade could expand, easing global shortages and prices. China relaxed the ban in June but had maintained restrictions on India until now. The Adani Group is exploring a tie-up with Chinese EV giant BYD that would allow billionaire Gautam Adani's conglomerate to manufacture batteries in India and extend its push into clean energy, according to people familiar with the matter. India recently allowed tourist visas for Chinese nationals after years of curbs, and Modi may meet Chinese President Xi Jinping at a summit in Tianjin starting on Aug. 31. China is India's second-largest trade partner after the U.S., and India needs key inputs from China to develop its manufacturing base. While there may be a thaw, the two Asian powers are not likely to restore full trust overnight. They have seen each other as rivals for years and friction increased a few months ago when China supplied weapons and intelligence to Pakistan in its recent military dispute with India. Part of Trump's recent anger toward New Delhi comes from India denying the his claims that his mediation helped defuse tensions with Pakistan. Modi also challenged those assertions directly in a call with Trump in June. India saw a shift in tone from the White House after that, according to the officials in New Delhi. Modi is also strengthening ties with Brazil and Russia, fellow BRICS founding members. In August, he invited President Vladimir Putin to visit India as relations with the U.S. soured. Trump is frustrated with India's continued imports of discounted Russian oil, which help fund the Kremlin's war in Ukraine. Modi has shown no signs of backing down, and his government signed agreements with Moscow this month to deepen economic cooperation. Modi has also talked trade and the imposition of unilateral tariffs against their nations with Brazilian President Luiz Inacio Lula da Silva. Bolstering commercial ties between Brazil and India was a key topic of Modi's visit to Brasilia in July. During the call in early August, Lula and Modi also agreed to expand India's trade deal with Mercosur, the South American customs union that includes Brazil. The U.S. has long courted India as a counterbalance to China in geopolitics, but with Trump's trade wars, Beijing and New Delhi are finding common ground. Xu Feihong, China's ambassador to India, has offered Modi moral support over the tariffs. "Give the bully an inch, he will take a mile,' Xu last week wrote on X over a quote from Chinese Foreign Minister Wang Yi denouncing the use of tariffs "as a weapon to suppress other countries.'
Yahoo
6 days ago
- Business
- Yahoo
China and India Rebuild Ties After Modi's Rupture With Trump
(Bloomberg) -- India and China are restoring economic links strained by a deadly 2020 border clash, the latest sign Prime Minister Narendra Modi is drawing closer to the BRICS countries after US President Donald Trump hit the South Asian nation with a 50% tariff. Sunseeking Germans Face Swiss Backlash Over Alpine Holiday Congestion To Head Off Severe Storm Surges, Nova Scotia Invests in 'Living Shorelines' New York Warns of $34 Billion Budget Hole, Biggest Since 2009 Crisis Five Years After Black Lives Matter, Brussels' Colonial Statues Remain For Homeless Cyclists, Bikes Bring an Escape From the Streets Modi's latest move is to resume direct flights with China as soon as next month, said people familiar with the negotiations who asked for anonymity to discuss private matters. The deal could be formally announced when Modi is expected to head to China for the first time in seven years and meet leader Xi Jinping at the Shanghai Cooperation Organisation held in Tianjin from Aug. 31, the people said. Flights were suspended during the Covid-19 pandemic, which coincided with a sharp decline in relations between the nuclear-armed neighbors after border clashes in the Himalayas killed 20 Indian soldiers and an unknown number of Chinese troops. Modi's economic calculus was fundamentally altered this month when Trump doubled tariffs on Indian goods to 50% as a penalty for its purchases of Russian oil. The US president's remarks that India's economy was 'dead' and its tariff barriers 'obnoxious' further strained relations. The blow from India's largest trading partner hit hard, especially after Modi had lavished praise on Trump and was among the first foreign leaders to visit after his return to the White House. Henry Wang, president of the Center for China and Globalization think tank in Beijing, said relations between India and China are in an 'up cycle,' and as leaders of the Global South, 'they have to really speak to each other.' 'Trump's tariff war on India has made India realize that they have to maintain some kind of strategic autonomy and strategic independence,' he said. China, also a prime target in Trump's trade wars, has shown signs it's ready for a thaw. This month, it eased curbs on urea shipments to India — the world's largest importer of the fertilizer. Although initial volumes are small, the trade could expand, easing global shortages and prices. China relaxed the ban in June but had maintained restrictions on India until now. The Adani Group is exploring a tieup with Chinese EV giant BYD Co. that would allow billionaire Gautam Adani's conglomerate to manufacture batteries in India and extend its push into clean energy, according to people familiar with the matter. Modi's government recently allowed tourist visas for Chinese nationals after years of curbs. China is India's second-largest trade partner after the US, and India needs key inputs from China to develop its manufacturing base. While there may be a thaw, the two Asian powers are not likely to restore full trust overnight. They have seen each other as rivals for years and friction increased a few months ago when China supplied weapons and intelligence to Pakistan in its recent military dispute with India. Part of Trump's recent anger toward New Delhi comes from India denying his claims that his mediation helped defuse tensions with Pakistan. Modi also challenged those assertions directly in a call with Trump in June. India saw a shift in tone from the White House after that, according to the officials in New Delhi. Modi is also strengthening ties with Brazil and Russia, fellow BRICS founding members. In August, he invited President Vladimir Putin to visit India as relations with the US soured. Trump is frustrated with India's continued imports of discounted Russian oil, which help fund the Kremlin's war in Ukraine. Modi has shown no signs of backing down, and his government signed agreements with Moscow this month to deepen economic cooperation. Modi has also talked trade and the imposition of unilateral tariffs against their nations with Brazilian President Luiz Inacio Lula da Silva. Bolstering commercial ties between Brazil and India was a key topic of Modi's visit to Brasilia in July. During the call in early August, Lula and Modi also agreed to expand India's trade deal with Mercosur, the South American customs union that includes Brazil. The US has long courted India as a counterbalance to China in geopolitics but with Trump's trade wars, Beijing and New Delhi are finding common ground. Xu Feihong, China's ambassador to India, has offered Modi moral support over the tariffs. 'Give the bully an inch, he will take a mile,' Xu last week wrote on X over a quote from Chinese Foreign Minister Wang Yi denouncing the use of tariffs 'as a weapon to suppress other countries.' --With assistance from Dan Strumpf, Sudhi Ranjan Sen, Mihir Mishra, Anthony Palazzo and Colum Murphy. (Updates with details on Modi's visit to China in second paragraph.) Bessent on Tariffs, Deficits and Embracing Trump's Economic Plan Why It's Actually a Good Time to Buy a House, According to a Zillow Economist Dubai's Housing Boom Is Stoking Fears of Another Crash The Social Media Trend Machine Is Spitting Out Weirder and Weirder Results A $340 Million New York Office Makeover Is Converting Boardrooms to Bedrooms ©2025 Bloomberg L.P. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
6 days ago
- Business
- Yahoo
China and India Rebuild Ties After Modi's Rupture With Trump
(Bloomberg) -- India and China are restoring economic links strained by a deadly 2020 border clash, the latest sign Prime Minister Narendra Modi is drawing closer to the BRICS countries after US President Donald Trump hit the South Asian nation with a 50% tariff. Sunseeking Germans Face Swiss Backlash Over Alpine Holiday Congestion To Head Off Severe Storm Surges, Nova Scotia Invests in 'Living Shorelines' New York Warns of $34 Billion Budget Hole, Biggest Since 2009 Crisis Five Years After Black Lives Matter, Brussels' Colonial Statues Remain For Homeless Cyclists, Bikes Bring an Escape From the Streets Modi's latest move is to resume direct flights with China as soon as next month, said people familiar with the negotiations who asked for anonymity to discuss private matters. The deal could be formally announced when Modi is expected to head to China for the first time in seven years and meet leader Xi Jinping at the Shanghai Cooperation Organisation held in Tianjin from Aug. 31, the people said. Flights were suspended during the Covid-19 pandemic, which coincided with a sharp decline in relations between the nuclear-armed neighbors after border clashes in the Himalayas killed 20 Indian soldiers and an unknown number of Chinese troops. Modi's economic calculus was fundamentally altered this month when Trump doubled tariffs on Indian goods to 50% as a penalty for its purchases of Russian oil. The US president's remarks that India's economy was 'dead' and its tariff barriers 'obnoxious' further strained relations. The blow from India's largest trading partner hit hard, especially after Modi had lavished praise on Trump and was among the first foreign leaders to visit after his return to the White House. Henry Wang, president of the Center for China and Globalization think tank in Beijing, said relations between India and China are in an 'up cycle,' and as leaders of the Global South, 'they have to really speak to each other.' 'Trump's tariff war on India has made India realize that they have to maintain some kind of strategic autonomy and strategic independence,' he said. China, also a prime target in Trump's trade wars, has shown signs it's ready for a thaw. This month, it eased curbs on urea shipments to India — the world's largest importer of the fertilizer. Although initial volumes are small, the trade could expand, easing global shortages and prices. China relaxed the ban in June but had maintained restrictions on India until now. The Adani Group is exploring a tieup with Chinese EV giant BYD Co. that would allow billionaire Gautam Adani's conglomerate to manufacture batteries in India and extend its push into clean energy, according to people familiar with the matter. Modi's government recently allowed tourist visas for Chinese nationals after years of curbs. China is India's second-largest trade partner after the US, and India needs key inputs from China to develop its manufacturing base. While there may be a thaw, the two Asian powers are not likely to restore full trust overnight. They have seen each other as rivals for years and friction increased a few months ago when China supplied weapons and intelligence to Pakistan in its recent military dispute with India. Part of Trump's recent anger toward New Delhi comes from India denying his claims that his mediation helped defuse tensions with Pakistan. Modi also challenged those assertions directly in a call with Trump in June. India saw a shift in tone from the White House after that, according to the officials in New Delhi. Modi is also strengthening ties with Brazil and Russia, fellow BRICS founding members. In August, he invited President Vladimir Putin to visit India as relations with the US soured. Trump is frustrated with India's continued imports of discounted Russian oil, which help fund the Kremlin's war in Ukraine. Modi has shown no signs of backing down, and his government signed agreements with Moscow this month to deepen economic cooperation. Modi has also talked trade and the imposition of unilateral tariffs against their nations with Brazilian President Luiz Inacio Lula da Silva. Bolstering commercial ties between Brazil and India was a key topic of Modi's visit to Brasilia in July. During the call in early August, Lula and Modi also agreed to expand India's trade deal with Mercosur, the South American customs union that includes Brazil. The US has long courted India as a counterbalance to China in geopolitics but with Trump's trade wars, Beijing and New Delhi are finding common ground. Xu Feihong, China's ambassador to India, has offered Modi moral support over the tariffs. 'Give the bully an inch, he will take a mile,' Xu last week wrote on X over a quote from Chinese Foreign Minister Wang Yi denouncing the use of tariffs 'as a weapon to suppress other countries.' --With assistance from Dan Strumpf, Sudhi Ranjan Sen, Mihir Mishra, Anthony Palazzo and Colum Murphy. (Updates with details on Modi's visit to China in second paragraph.) Bessent on Tariffs, Deficits and Embracing Trump's Economic Plan Why It's Actually a Good Time to Buy a House, According to a Zillow Economist Dubai's Housing Boom Is Stoking Fears of Another Crash The Social Media Trend Machine Is Spitting Out Weirder and Weirder Results A $340 Million New York Office Makeover Is Converting Boardrooms to Bedrooms ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
7 days ago
- Business
- Bloomberg
India-China Thaw Takes Shape as Modi Embraces BRICS Over Trump
India and China are restoring economic links strained by a deadly 2020 border clash, the latest sign Prime Minister Narendra Modi is drawing closer to BRICS after US President Donald Trump hit the South Asian nation with a 50% tariff. Modi's latest move is to resume direct flights with China as soon as next month, said people familiar with the negotiations who asked for anonymity to discuss private matters. The effort gained momentum in recent weeks, and airlines have been briefed on the proposal, they said.
