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West meets the East in historic summit in Singapore

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West meets the East in historic summit in Singapore

Trump and Kim sign “important and comprehensive” document

US President Donlad Trump and North Korean leader Kim Jong-un  have signed a document described by American leader as “important and comprehensive” following a historic meeting between the two in Singapore.

The document said the two countries “commit to establish [sic] new… relations in accordance with the desire of the peoples of the two countries for peace and prosperity.

North Korea also reaffirmed its commitment to working “towards complete denuclearization of the Korean Peninsula,” broad wording that could mean phased denuclearization in return for a number of potential American commitments along the way.

However, there was no word on any US commitments, including on the removal of harsh sanctions on North Korea and security guarantees that Pyongyang had previously demanded as a condition to denuclearize.

The US president said he had formed a “very special bond” with Kim and that the US’s relationship with Pyongyang would be very different.

“People are going to be very impressed and people are going to be very happy and we are going to take care of a very dangerous problem for the world,” he added.

The US and the North Korea have also agreed to work for peace on the peninsula and address prisoners of war (POWs) and missing in action (MIA) cases from the 1950s Korean war, in which the US was on South Korea’s side.

West meets the East in historic summit in SingaporeThe first ever meeting between the most unpredictable leaders, was held at the Capella Hotel on Singapore’s Sentosa Island on Tuesday.  The two leaders walked up to each other and exchanged a handshake set to go down in history.

The meeting began at 9 a.m. with a handshake, producing images that were carried live on television across the United States and beyond. They met one-on-one, accompanied by translators, for about an hour.

The two leaders arrived in Singapore on Sunday and met for the very first time on Tuesday morning. Kim Jong Un arrived at the venue in his limousine, at roughly 8:55 a.m. local time whileTrump arrived five minutes later.

Read More: Trump receive Kim’s letter from North Korean envoy

According to reports, the two leaders addressed media persons before walking into their one-on-one discussion. Trump said he is confident the talks will be a “tremendous success” and that “we will have a tremendous relationship, I have no doubt”.

The North Korean Times reports that the 33-year-old Kim Jong un was heard telling Trump, “Nice to meet you, Mr. President,” to which, Trump, who is twice Kim’s age, gave him a thumbs up.

Read More: Singapore may host Trump-Kim-Moon tripartite Summit?

Kim Jong Un said, “It was not an easy path here. There’s a history of holding onto our ankles (a phrase which means that someone is trying to hold someone else back) and it appeared there were times that there were unfortunate practices where they were trying to block our eyes and our ears, but we’ve overcome everything and come to this place. Many people in the world will think of this as a form of fantasy from a science fiction movie.”

Trump responded, “That’s true.”

West meets the East in historic summit in SingaporeThe U.S. President told reporters, “I feel really great. We’re going to have a great discussion and I think tremendous success. It will be tremendously successful. And it’s my honour and we will have a terrific relationship I have no doubt.”

After the brief exchange, Trump and Kim Jong Un made their way to the library at the Capella for their one-on-one private conversation, along with translators.

South Korea’s Yonhap news said that like the rest of the world, the South Korean President, Moon Jae In too watched the two leaders exchange their first historic handshake. He has been one of the key architects behind making the historic summit between Trump and Kim Jong Un possible.

Read More: Trump-Kim Summit not happening on June 12

Earlier in the day, Jae In said in a series of tweets that he was hopeful that the summit will to be recognised as a “historic milestone from war to peace.”

The South Korean leader also said, “The nuclear issue could not be completely solved by one summit but could take one year, two years or even longer for a complete resolution.”

Further, the South Korean media broadcast various gatherings across the country, which showed people cheering as they watch the historic moment on television sets.

Speaking moments after the two leaders signed the unspecified document, President Trump said that he had developed a “very special bond” with Kim Jong Un. “It’s been an honor to be with you.”When asked if he would invite Kim to the White House, Trump responded that he would: “Absolutely, I will.”

Standing again in front of their respective flags, where they began the historic day, Trump and Kim shook hands one final time.

Trump praised Kim Jon un saying, “(He’s) a worthy negotiator,He’s negotiating on behalf of his people.I learned he’s a very talented man. I also learned he loves his country very much.”  He said they would meet again.

Asked if North Korean leader Kim Jong Un agreed to denuclearize, Trump said, “We’re starting that process very quickly, very, very quickly. Absolutely.”

Earlier, the White House said Trump will leave Singapore on Tuesday night, adding that nuclear talks with North Korea are moving “more quickly than expected.”

Trump was scheduled to return to the United States on Wednesday, but will now leave immediately after meeting with North Korean leader Kim on Tuesday, the White House said in a statement on Monday.

Read More: Trump-Kim Summit in jeopardy after US-South Korea drill

“The discussions between the United States and North Korea are ongoing and have moved more quickly than expected,” the statement said.

Trump will depart at 8 p.m. Singapore time, which is 8 a.m. in Washington, D.C. according to the statement. This is despite the fact that last week Trump said the summit could last “two [or] three” days “depending on what happens” in the meetings.

The US president reportedly re-scheduled his departure time from Singapore after Kim set the deadline for their historic summit. An American news organization reported on Monday that Kim will leave Singapore at 4 p.m. Tuesday local time after his meeting with Trump. Accordingly, Trump will leave Singapore four hours after Kim’s departure.

Read More: Trump welcomes Kim’s gesture of dismantling nuclear-test site

The details of the document signed between the two leaders will be made public later in the day. The two leaders may come in front of mediapersons before they depart from Singapore.

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India considers tax relief to attract foreign investors amid Iran war impact

India is evaluating tax incentives, including a possible capital gains tax exemption on government securities for foreign investors, to support capital inflows amid economic pressures linked to the Iran war.

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India is considering a set of measures aimed at attracting more foreign investment as the ongoing Iran war continues to create pressure on the country’s economy, according to reports citing government sources. One of the key proposals under discussion is the removal of capital gains tax on investments made by foreign portfolio investors (FPIs) in government securities.

The move comes at a time when geopolitical tensions in West Asia have pushed up global oil prices, weakened investor sentiment and increased pressure on the Indian rupee. India, which imports a significant share of its crude oil requirements, has been among the countries closely monitoring the economic fallout from the conflict.

Government exploring ways to boost capital inflows

Officials are reportedly evaluating tax-related incentives to make Indian debt markets more attractive to overseas investors. The proposed exemption on capital gains from government securities is aimed at encouraging foreign portfolio investment and supporting capital inflows during a period of heightened global uncertainty.

The government is seeking to counter the impact of foreign capital outflows that have intensified amid concerns over the Iran conflict and its implications for energy markets and global economic growth.

Rupee and markets under pressure

Recent weeks have seen increased volatility in financial markets, with foreign investors pulling money out of Indian equities. Analysts have linked part of the pressure on the rupee to rising oil prices and continued overseas investor withdrawals.

Market participants believe that measures aimed at attracting foreign investment into government securities could help improve investor confidence and provide support to the domestic currency.

Broader economic concerns

The Iran war has added to concerns about inflation, economic growth and India’s external sector. Higher energy prices can increase import costs and put pressure on inflation, while sustained foreign capital outflows may affect financial market stability.

While no final decision has been announced, discussions on easing tax rules for foreign investors reflect the government’s efforts to strengthen capital inflows and cushion the economy from external shocks.

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US proposes new tariffs on India over forced labour concerns amid trade negotiations

The United States has proposed additional tariffs on imports from India and 59 other economies following a Section 301 investigation into forced labour-related trade concerns.

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Donald Trump statement

The United States has proposed imposing additional tariffs on imports from India and 59 other economies after concluding that these countries have not taken sufficient steps to prevent the importation of goods allegedly linked to forced labour. The proposal was announced by the Office of the US Trade Representative (USTR) as part of an investigation conducted under Section 301 of the US Trade Act.

According to the USTR’s findings, India could face an additional tariff of 12.5% on goods exported to the United States. The proposed measure is part of a broader plan targeting 60 economies, with tariff rates ranging between 10% and 12.5% depending on the findings related to each country.

India among countries facing higher tariff proposal

The USTR said India had not effectively enforced restrictions on imports made using forced labour, describing the issue as a burden on US commerce. The agency argued that inadequate enforcement by major trading partners creates unfair competition for American workers and businesses.

While countries including Canada, Mexico, the European Union and the United Kingdom are proposed to face a 10% tariff, India is among a larger group of economies that could be subjected to a 12.5% duty under the recommendation.

Proposal comes during India-US trade discussions

The tariff proposal has emerged while Indian and US officials are engaged in trade negotiations aimed at strengthening economic ties between the two countries. A US delegation led by Assistant USTR Brendan Lynch is currently holding discussions with Indian officials in New Delhi.

India’s Commerce Ministry has indicated that discussions with the United States on the matter are continuing and noted that the proposed tariffs have not yet been finalised. The USTR has invited public comments on the proposal until July 6, with a public hearing scheduled for July 7 before any final decision is taken.

Certain products may remain exempt

The proposed tariffs include exemptions for several categories of goods, including some energy products, pharmaceuticals, rare earth materials and selected agricultural commodities. Additional details regarding sector-specific measures, including proposed textile-related actions, are expected to be released separately.

The latest move follows a Section 301 investigation launched earlier this year into forced labour concerns across global supply chains. Any final decision on imposing the tariffs will be made after the consultation process is completed.

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Trump reportedly rebukes Netanyahu over Lebanon strikes amid ceasefire concerns

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US President Donald Trump reportedly delivered a sharp rebuke to Israeli Prime Minister Benjamin Netanyahu during a phone call over Israel’s military actions in Lebanon, as concerns grow that renewed hostilities could jeopardise fragile diplomatic efforts in the region.

According to multiple reports, Trump expressed frustration over Israeli strikes linked to ongoing tensions with Hezbollah in Lebanon. The reported exchange came at a sensitive time, with Washington attempting to prevent further escalation while also pursuing broader diplomatic discussions involving Iran.

Reports point to unusually tense exchange

Sources cited in international reports said Trump used unusually strong language during the conversation, warning that continued military actions risked damaging efforts to stabilise the situation. One report claimed Trump told Netanyahu that his actions were hurting Israel’s international standing and complicating diplomatic initiatives.

The reported disagreement followed Israeli operations against Hezbollah-linked targets in Lebanon. While Israeli officials argued that the actions were a response to security threats and ceasefire violations, the US administration has been pushing for restraint to avoid a wider regional conflict.

Lebanon fighting threatens broader diplomatic efforts

The latest tensions come amid efforts to maintain a ceasefire framework between Israel and Hezbollah. US officials have been involved in discussions aimed at reducing hostilities and preventing attacks on major Lebanese population centres, including Beirut.

Reports indicate that Trump personally intervened to discourage further escalation and support negotiations intended to preserve regional stability. Hezbollah has reportedly signalled a willingness to consider a broader ceasefire arrangement if reciprocal commitments are made.

Differing public messages after the call

Despite reports of a heated conversation, Trump later suggested publicly that discussions had been constructive and that progress had been made toward reducing tensions. Netanyahu, however, maintained that Israel would continue to respond to security threats and would not alter its overall approach toward Hezbollah if attacks persisted.

The developments highlight growing challenges facing diplomatic efforts in the Middle East, where the conflicts involving Israel, Lebanon and Iran remain closely interconnected. Analysts say any major escalation in Lebanon could further complicate ongoing negotiations and increase instability across the region.

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