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US initiated Trade Tariff War escalates with China, EU

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US initiated Trade Tariff War escalates with China, EU

Mexico and Canada also retaliate with additional tariff on US imports 

The trade tariff war initiated by US President Donald Trump with Canada, Mexico, EU and China has been escalating. Trump has given his approval to put tariffs on $50 billion of Chinese exports while EU has endorsed a plan to impose import duties on $3.3 bn worth of US products on Thursday.

CNN, quoting a source with knowledge of the situation has reported that President’s approval for US to put on $50 bn of Chinese exports came after a meeting Thursday with top economic officials, including Treasury Secretary Steven Munchin, Commence Secretary Wilbur Ross and US Trade Representative Robert Lighthizer. The announcement is expected on Friday.

The report says that the move represents a serious escalation of trade tensions between the world’s two largest economies — just as Trump has also picked fights with allies Canada, Mexico and the European Union over steel and aluminum.

It was first reported by Bloomberg.

Read More: Who needs enemy whey you have friends like Trump: EU Chief

Earlier Beijing said it would respond to US tariffs on $50 billion worth of Chinese exports with retaliatory tariffs on $50 billion of US products such as cars, planes and soybeans.

Meanwhile, AFP, quoting a European Commission source reports, that EU countries on Thursday endorsed a plan to impose import duties on $3.3 bn worth of US products in response to US tariffs on steel and aluminum imports from Canada, the EU and Mexico.

US initiated Trade Tariff War escalates with China, EUThe source said, “Member states have today unanimously supported the commission’s plan for the adoption of rebalancing measures on the US tariffs,” adding that they would be implemented “in coming days.” The retaliatory tariffs against US’ painful duties should be in place by late June or early July, the report said.

Read More: Trade war erupts; China slaps heavy duty on US products

Similarly Canada and Mexico have also announced their intention of taking counter measures against US imposed tariffs. Mexico has announced to impose tariffs on US imports including pork bellies, apples, grapes, cheeses and flat steels, among other products.

Canada has promised retaliatory tariffs worth $12.8bn on US products including steel, aluminum, whiskey and orange juice.

The ties among US and its European allies have been at their lowest level due to rows over a host of issues including trade tariffs, the Paris climate agreement, the Iran nuclear deal and the US Jerusalem move- recognizing it as Israel’s capital and moving its embassy to the holy city which was earlier promised to become capital of Palestine.

For months, Trump has slow-walked threats of tariffs against China as punishment for intellectual property theft. Initially he announced that US would impose trade penalties on about $50 billion of Chinese goods in March saying, “We have a tremendous intellectual property theft problem. It’s going to make us a much stronger, much richer nation.”

After China warned it would retaliate, Trump threatened tariffs on a further $100 billion of Chinese products. However, in mid-May, both announced a ceasefire after two rounds of trade negotiations.

They said in a joint statement that China would “significantly increase” purchases of US agricultural and energy products to reduce the trade imbalance, a top Trump administration demand. The US Treasury Secretary Steven Munchin subsequently declared the trade war “on hold.”

Ten days later, White House abruptly said it would proceed with the tariffs, along with new limits on Chinese investments in the US. Washington said it would finalize the list of goods that would be subject to 25% tariffs by June 15, and that the tariffs would go into effect “shortly thereafter.”

A further round of trade talks in Beijing earlier this month failed to yield any breakthroughs. On Thursday, Chinese Foreign Ministry spokesman Geng Shuang reiterated that China would not honor its pledge to increase purchases of US goods if tariffs were imposed.

After the G7 summit, held in Quebec, Canada last week, Trump sent out a couple of tweets in which he slammed Canadian Prime Minister Justin Trudeau as “very dishonest & weak,” and ordered US representatives not to sign a joint communiqué with the G7 leaders.

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Kremlin denies US media reports on Donald Trump’s phone call with Vladimir Putin

Donald Trump said on the campaign trail that he could end the fighting within hours and has indicated he would talk directly with Russian President Putin.

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Kremlin denies US media reports on Donald Trump’s phone call with Vladimir Putin

The Kremlin today denied a US media report that Russian President Vladimir Putin and US president-elect Donald Trump had spoken on the phone last week about the Ukraine conflict.

Earlier on Sunday, The Washington Post reported that Donald Trump spoke to Vladimir Pution on call, urging him not to inflame the conflict. Speaking on the matter, Kremlin spokesman Dmitry Peskov told the media that the report was completely false information, and denied any phone call took place.

It was reported that US President-elect Donald Trump has spoken to Russian President Vladimir Putin and urged him not to escalate the war in Ukraine. It said that Donald Trump held the call from his Mar-a-Lago estate in Florida on Thursday, just days after his stunning election victory over Democratic rival Kamala Harris. The report also mentioned that both the leaders expressed an interest in further conversations to discuss the resolution of Ukraine’s war soon.

Notably, Donald Trump said on the campaign trail that he could end the fighting within hours and has indicated he would talk directly with Russian President Putin. However, the US President elect has not said how he intends to strike a peace deal or what terms he is proposing.

Donald Trump’s election is seen as carrying the potential to upend the almost three-year Ukraine conflict, as he insists on a quick end to the fighting and casts doubt on Washington’s multi-billion dollar support for Kyiv.

Meanwhile, Ukrainian President Volodymyr Zelensky spoke with Trump on Wednesday, with the Republican’s billionaire backer Elon Musk also notably joining them on the call. Volodymyr Zelensky described the call as excellent, adding that he and Trump had agreed to maintain close dialogue and advance our cooperation.

Additionally, the outgoing Democratic administration of President Joe Biden has confirmed that it will send as much aid as possible to Ukraine before Trump’s inauguration on January 20.

Joe Biden’s National Security Advisor Jake Sullivan said the White House aims to put Ukraine in the strongest possible position on the battlefield so that it is ultimately in the strongest possible position at the negotiating table.

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India calls out Canada’s move to ban Australia Today for airing S Jaishankar’s press conference

The MEA said that these actions yet again highlight the hypocrisy of Canada towards freedom of speech.

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India calls out Canada’s move to ban Australia Today for airing S Jaishankar's press conference

A few hours after Australia Today aired External Affairs Minister S Jaishankar’s press conference in Australia, Canada banned the outlet. The External Affairs Minister gave remarks on the India-Canada diplomatic standoff. 

Reacting to this, India on Thursday said it was surprised by Canada’s move to ban the outlet and emphasized that it highlighted Ottawa’s hypocrisy towards freedom of speech. Australia Today, which is an important outlet for the Indian community in the country, had aired the joint press conference of S Jaishankar and his Australian counterpart Penny Wong in Canberra.

In a weekly media briefing, MEA spokesperson Randhir Jaiswal said that they understand that the social media handles, pages of this particular outlet, which is an important diaspora outlet, have been blocked and are not available for viewers in Canada. He continued that this happened just an hour or a few hours after this particular handle carried the press conference of S Jaishankar with Penny Wong. He called out the incident, mentioning that they are surprised, and the matter looks strange to them.

He further underlined that these are the actions which yet again highlight the hypocrisy of Canada towards freedom of speech. He noted that the External Affairs Minister spoke about three things: Canada making allegations and a pattern had developed without any specific evidence, surveillance of Indian diplomats in Canada, which he termed as unacceptable, and  the political space which has been given in Canada to anti-India elements. 

With this one can draw conclusions, why Australia Today channel was blocked by Canada, the spokesperson said. Australia Today focuses on news and analytical pieces related to the Indian community in Australia and elsewhere across the world.

This incident follows days after devotees were attacked by pro-Khalistani at a Hindu temple in Canada’s Brampton, with S Jaishankar calling it deeply concerning. Furthermore, Prime Minister Narendra Modi also condemned the attack and said that there were cowardly attempts to intimidate Indian diplomats.

The diplomatic standoff between India and Canada began in September last year when Canadian Prime Minister Justin Trudeau alleged that Indian government agents might have been involved in the killing of Khalistani terrorist Hardeep Singh Nijjar, a claim outrightly rejected by New Delhi.

Later in October 2024, ties between both the countries nosedived when Canada termed the Indian High Commissioner a person of interest in its investigation into Nijjar’s murder. Issuing a strongly worded statement, India dismissed the fresh charge and recalled the envoy and some diplomats, while expelling six Canadian officials, including Canada’s acting High Commissioner.

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PM Modi congratulates Donald Trump on winning US President election

The Prime Minister urged Trump to work for the betterment of the people and to promote global peace, stability and prosperity.

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Prime Minister Narendra Modi on Wednesday congratulated Donald Trump on winning the 2024 US Presidential election and said he is looking forward to renewing their collaboration to further strengthen the India-US partnership.

The Prime Minister urged Trump to work for the betterment of the people and to promote global peace, stability and prosperity.

“Heartiest congratulations my friend @realDonaldTrump on your historic election victory. As you build on the successes of your previous term, I look forward to renewing our collaboration to further strengthen the India-US Comprehensive Global and Strategic Partnership. Together, let’s work for the betterment of our people and to promote global peace, stability and prosperity,” PM Modi posted on his X handle.

With the results being announced for the 2024 US election on November 6, Trump became the 47th President of the United States.

Former US President Trump appeared to be on track for a remarkable political comeback in the White House race. Projections suggested that he was poised to secure the necessary 270 electoral college votes, effectively blocking Democratic candidate Kamala Harris from winning the election.

The relationship between Trump and Modi has been characterised by robust diplomatic ties, strategic collaboration, and a noticeable personal rapport. Their friendship was prominently displayed during major events such as “Howdy, Modi” in Houston in 2019 and “Namaste Trump” in Ahmedabad in 2020, where they addressed large audiences and expressed their mutual respect.

On a strategic level, Trump and Modi found common ground in matters of defense and security, both adopting a strong stance against terrorism, which reinforced their alliance, particularly concerning threats from Pakistan.

As he approaches a notable victory in the US election, Republican Presidential candidate Trump expressed gratitude to his supporters today, calling it a magnificent victory for the American people. He also referenced the assassination attempt on July 13, stating, “God spared my life for a reason.”

The 78-year-old candidate is currently projected to secure 267 electoral college votes, just three shy of the decisive 270, while his opponent, incumbent Vice President Kamala Harris, holds 224 electoral votes.

Trump described the Republican campaign as the greatest political movement of all time, asserting, “We are going to help our country heal, secure our borders, and we made history for a reason tonight. This is an incredible political victory. I want to thank the American people. I will fight for you and your family with every breath I have.”

He noted that Democrats are now looking at a projected total of 315 electoral votes.

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