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United States President Donald J. Trump has signed an executive order officially implementing the United States–Japan Trade Agreement, a sweeping accord that restructures trade between the two countries, imposes a 15% baseline tariff on most Japanese imports, and secures an unprecedented $550 billion in Japanese investment into the American economy. Image Source: Eric Daugherty The executive order follows the July 22 announcement of the agreement’s framework and marks a significant escalation in the administration’s broader push for reciprocal trade terms and reduced trade deficits.  The order invokes multiple authorities including the International Emergency Economic Powers Act and Section 232 of the Trade Expansion Act, linking the trade deal directly to national security interests. Under the new tariff regime, any Japanese product entering the United States with a current tariff below 15% will now be subject to additional duties to bring the total to 15%. Products already subje...

Indian Prime Minister Narendra Modi held a joint telephone conversation on Wednesday with European Council President Antonio Costa and European Commission President Ursula von der Leyen. The leaders stated the shared commitment to conclude the long-pending India–EU Free Trade Agreement (FTA) and to deepen the strategic partnership across key sectors. Image Source: Ursula von der Leyen The call comes amid intensifying geopolitical realignments and ahead of the planned India–EU Summit expected to be held in New Delhi in early 2026. Both sides agreed to work toward finalising a joint strategic agenda, with trade, technology, security, and sustainability at the core of bilateral cooperation.  “We also remain fully committed to concluding the Free Trade Agreement negotiations by the end of the year. To achieve this, progress is needed now,” von der Leyen said in a post on X, formerly Twitter. Had a very good conversation with European Council President António Costa and European ...

India and Singapore unveiled an expansive roadmap for their Comprehensive Strategic Partnership (CSP) on Thursday, outlining concrete plans for joint cooperation in semiconductors, defence, digital payments, maritime security, clean energy, and advanced manufacturing, as both countries marked 60 years of diplomatic ties. Image Source: MEA India The announcement followed wide-ranging talks between Indian Prime Minister Narendra Modi and Singapore’s Prime Minister Lawrence Wong during Wong’s first official visit to India since assuming office in 2024.  “This is a partnership with purpose -- rooted in shared values, guided by mutual interests, and driven by a common vision for peace, progress, and prosperity,” Indian Prime Minister Modi said in a joint press statement. Had a productive start to my visit in New Delhi. Last evening, I joined overseas Singaporeans and friends of Singapore for a special SG60 reception. Many had travelled from different parts of India — Chennai, Mumbai, an...

India’s Goods and Services Tax (GST) Council has approved a sweeping set of tax reforms aimed at reducing costs for consumers and simplifying the indirect tax regime.  The measures, announced after the 56th meeting of the GST Council in New Delhi, include rate cuts on essential medicines, household items, food products, vehicles, and building materials. Image Source: Screengrab PIB Broadcast Prime Minister Narendra Modi described the changes as “next-generation reforms” designed to benefit the “common man.”  Finance Minister Nirmala Sitharaman, who chaired the marathon 10.5-hour session, said the reforms were consensus-driven and aimed at correcting anomalies in the current multi-tier structure. Among the most notable changes is a reduction of GST from 12% to 0% on 33 life-saving drugs, including those used for cancer and rare diseases. Spectacles and goggles will now be taxed at 5%, down from 28%. Essential agricultural equipment such as tractors, threshers, and composting ...

United States President Donald Trump has sharply defended his administration’s sweeping reciprocal tariffs, vowing to appeal a federal court decision that struck them down as unconstitutional.  The case, now heading to the U.S. Supreme Court , threatens to dismantle one of Trump’s most significant economic policy pillars and could reset the legal balance between Congress and the presidency in trade governance. Image Source: Office of the First Lady At the center of the dispute is India -- now the hardest-hit U.S. trade partner  -- and the broader geopolitical implications of what Trump called an “economic defense doctrine.” Appeals Court Strikes at Tariff Foundation The U.S. Court of Appeals for the Federal Circuit ruled last week that President Trump’s reliance on the International Emergency Economic Powers Act (IEEPA) to justify unilateral tariffs exceeded legal authority .  The decision temporarily suspends enforcement of the tariffs until October 14, 2025, providin...

U.S. President Donald Trump on Monday slammed what he called India’s offer to reduce tariffs on American imports to “nothing,” saying New Delhi should have acted “years ago.”  His comments come as India faces a 50% tariff burden from Washington, a penalty imposed after Indian Prime Minister Narendra Modi’s government refused to halt purchases of discounted Russian crude oil. Image Source: PoliticsVideoChannel In a lengthy post on social media, Trump accused India of running a “totally one-sided relationship” with the United States for decades.  He argued that while India sells “massive amounts of goods” to the American market, U.S. companies face prohibitive barriers in India.  “It has been a totally one-sided disaster,” he wrote, adding that India “buys most of its oil and military products from Russia, very little from the U.S.” Trump’s administration first imposed a 25% reciprocal tariff on Indian exports in early August and then added a further 25% levy targeting Rus...

A federal appeals court on Friday ruled that most of U.S. President Donald Trump’s global tariffs were imposed without legal authority, striking at the heart of his signature trade policy.  Image Source: White House The decision, delivered by the U.S. Court of Appeals for the Federal Circuit, held that the statute Trump relied upon -- the International Emergency Economic Powers Act (IEEPA) -- does not empower the president to unilaterally impose tariffs on specific countries or across broad categories of imports. The ruling marks a major blow to Trump’s trade agenda, which during his administration introduced sweeping tariffs under the justification of addressing national security and economic emergencies.  Trump is widely expected to appeal the decision to the U.S. Supreme Court.  To enable this process, the appellate court temporarily paused the effect of its ruling until October 14, granting the administration time to file its case. The White House has not yet issued...

Amid escalating global trade tensions and shifting geopolitical alignments, Indian Prime Minister Narendra Modi’s official visit to Tokyo for the 15th Annual India–Japan Summit has resulted in a broad strategic realignment with Japan, positioning the bilateral relationship as a cornerstone of India’s evolving regional strategy.  Image Source: PM NaMo A series of high-level engagements, policy announcements, and joint declarations have laid out an ambitious framework for a decade-long cooperation plan across economic, technological, environmental, and security domains. The visit, which precedes Modi’s arrival in China for the Shanghai Cooperation Organisation (SCO) Summit, has drawn international attention, not only for its deliverables but also for its broader geopolitical implications.  Coming against the backdrop of rising friction between New Delhi and Washington over energy policy and tariffs, India’s focus on East Asian partnerships has intensified. Japan, long considere...

India's Ministry of External Affairs held a special press briefing in Tokyo on August 29 to outline the outcomes of Prime Minister Narendra Modi’s visit to Japan for the 15th Annual Summit with Japanese Prime Minister Shigeru Ishiba.  Image Source: PM NaMo Foreign Secretary Vikram Misri, joined by Ambassador Sibi George and Joint Secretary (East Asia) Gourangalal Das, described the visit as “a reaffirmation of ambition and clarity” in India–Japan relations and marked by broad-based agreements aimed at shaping the next decade of bilateral engagement. Following Prime Minister Modi’s arrival in Tokyo and participation in the India–Japan Economic Forum earlier in the day, he held a series of high-level meetings, including delegation-level talks with Prime Minister Ishiba and bilateral interactions with former Prime Ministers Yoshihide Suga and Fumio Kishida.  The leaders witnessed the exchange of multiple agreements and jointly addressed the press, with Prime Minister Ishiba host...

In a joint press statement delivered in Tokyo on August 29, Prime Minister Narendra Modi and Prime Minister Fumio Ishiba of Japan revealed a wide-ranging strategic roadmap for the next decade of bilateral engagement, and set in motion a new phase in the Special Strategic and Global Partnership between the two countries.  Image Source: PM NaMo Prime Minister Modi expressed his gratitude for the warm welcome received from the Japanese government, describing the talks as “productive and purposeful,” and reaffirmed that the partnership between India and Japan is not only vital for their respective nations but also holds broader relevance for global peace and stability. The two leaders agreed that strong and vibrant democracies are natural partners in shaping a better world.  During the statement, Prime Minister Modi announced a joint vision focused on key areas such as investment, innovation, economic security, technology, environment, mobility, health, people-to-people ties, and...

Speaking at the India–Japan Economic Forum in Tokyo on August 29, Indian Prime Minister Narendra Modi urged deeper bilateral engagement across manufacturing, innovation, green energy, infrastructure, and human capital, underlining Japan’s longstanding contribution to India’s economic growth. Prime Minister Narendra Modi, in his first engagement after arriving in Tokyo, addressed top business leaders from both nations alongside Japanese Prime Minister Fumio Ishiba.  Image Source: PM NaMo He began by thanking Prime Minister Ishiba for joining the event and praised the long-standing partnership between India and Japan, calling it a pillar of mutual trust and strategic logic.  He noted that Japanese firms have invested over $40 billion in India, with $13 billion of that arriving in just the past two years.  Citing data from JBIC and JETRO, he said 80 percent of Japanese companies in India are looking to expand, and 75 percent are already profitable. “In India, capital does n...

Indian Prime Minister Narendra Modi on Monday delivered a strong statement defending India's small entrepreneurs, farmers and rural producers, just two days before the United States is set to impose a sweeping 50% tariff on Indian imports.  File Photo Source: PM NaMo Speaking at a rally in Ahmedabad, the Prime Minister framed the move as part of a broader geopolitical realignment, calling attention to the growing trend of global politics being driven by economic self-interest. “Today in the world, everyone is doing politics based on economic interests. From this land of Ahmedabad, I want to tell all my small entrepreneurs, small shopkeepers, farmers, and animal husbandry workers—this is the land of Gandhi--I promise you again and again: your interests are paramount for Modi,” the Prime Minister said.  “My government will never allow harm to come to small businesses, farmers, or cattle rearers. No matter how much pressure comes, we will continue to strengthen our resolve.” Th...

India has reaffirmed its position that any trade deal with the United States -- including decisions around purchasing Russian crude oil -- will be governed strictly by national interest. This comes amid heightened pressure from the Trump administration and an imminent escalation of trade tensions, with 50% tariffs on Indian exports to the U.S. set to take effect on August 27. Image Source: Ficci_India A 25% tariff already in place since August 7 is expected to double later this month, with the additional burden attributed by Washington to India’s continued crude oil trade with Russia.  The Trump administration claims these purchases are indirectly supporting the Russia-Ukraine war -- a position India has firmly rejected as “unfounded and coercive.” At the Economic Times World Leaders Forum in New Delhi, External Affairs Minister Dr. S. Jaishankar and Commerce Minister Piyush Goyal both made clear that India would not be swayed by geopolitical pressure, and would continue to act in...

India's External Affairs Minister S. Jaishankar arrived in Moscow this week for high-level engagements aimed at recalibrating India-Russia economic ties, as both nations navigate a shifting global order marked by Western sanctions, U.S. tariff pressures, and deepening energy interdependence. Image Source: MEA/FM on X At the heart of the talks was a growing imbalance in bilateral trade. India’s increased imports of discounted Russian crude -- which now account for around 44% of its oil supply -- have widened the trade deficit to an estimated $58.9 billion.  Addressing the India-Russia Inter-Governmental Commission for Trade, Economic, Scientific, Technological and Cultural Cooperation (IRIGC-TEC) alongside Russia’s First Deputy Prime Minister Denis Manturov, Jaishankar described the gap as a “serious concern” requiring urgent solutions. “We need to address this imbalance by diversifying trade, removing bottlenecks, and finalising the India–Eurasian Economic Union free trade agreeme...