India Defies Trump's Trade Ultimatum Amid Tensions
8.1.25
India plans to defend its interests while pursuing talks with the US in parallel, amid rising tensions between the two nations. The move comes as Donald Trump slams the door on trade negotiations, urging India not to give in and chart a new trade path. Experts say this could lead to significant changes in global trade dynamics.
India's state-run oil refiners have halted Russian oil imports due to shrinking discounts and pressure from former US President Donald Trump's threats of tariffs and sanctions, shifting to Middle Eastern and African oil instead. The move comes as India is the world's third-largest oil importer and Russia's biggest buyer of seaborne crude, a vital revenue earner for Moscow. Indian Oil Corp, Hindustan Petroleum, Bharat Petroleum, and Mangalore Refinery Petrochemical Ltd have stopped buying Russian crude in the past week, amid a tariff row with the US. The Trump administration has imposed tariffs on Russian oil, leading to a halt in purchases by Indian refiners such as Adani Enterprises and Adani Ports.
India Rejects F-35 Jets Over Trump's Tariffs Threat
8.1.25
India has reportedly decided against buying US-made F-35 fighter jets following Donald Trump's 25% tariff on Indian exports. The decision comes after President Trump announced the tariffs, which India is unlikely to retaliate against immediately. Instead, the Narendra Modi government is exploring options such as boosting US imports and increasing purchases of natural gas, communication equipment, and gold to placate the White House.
India Stands Firm on Russia Partnership Commitment
8.1.25
India has reaffirmed its commitment to its partnership with Russia, describing it as a "steady and time-tested" relationship. The statement comes after US President Donald Trump's recent remark that India was not doing enough for Russia. Indian officials have emphasized the importance of their strategic ties with Russia, citing mutual benefits in areas such as defense and energy cooperation.
The US and India have a significant trade deficit, with the US running its 11th-largest deficit. To reduce this gap, India is considering increasing purchases of natural gas, communication equipment, and gold from the US. This move comes as a response to Donald Trump's demands, who has made purchasing US defence equipment a key requirement in his dealings with India.
Indonesia's exports of crude palm oil (CPO) to the European Union are exempt from tariffs following the signing of an Indo-European Union Comprehensive Economic Partnership Agreement (IEU-CEPA). The agreement, which was announced in June, aims to boost trade between Indonesia and the EU. As a result, Indonesian CPO exporters can now export their products to the EU without facing any tariffs, providing a significant boost to the country's palm oil industry.
Indonesia expects to finalize its documents for the Indonesia-European Union Comprehensive Economic and Partnership Agreement (IEU-CEPA) by September, according to Indonesian Minister Hartarto. The agreement's impact will be significant for Indonesian businesses with the launch of the EU visa cascade system in Jakarta. President Prabowo Subianto and European Commission President Ursula von der Leyen announced the completion of negotiations on July 13, 2025, at a joint press conference in Brussels, Belgium.
Indonesia is seeking to boost its competitiveness in the US market through a new tariff policy, which could benefit commodities such as copper concentrate and copper cathode that are not produced in the US. The country is pushing for zero percent tariffs on these industrial commodities, including crude palm oil, rubber, meranti wood, and copper derivative products, as part of ongoing negotiations with the US. In return, Indonesia has committed to purchasing $15 billion worth of energy products, $4.5 billion worth of agricultural goods, and 50 Boeing aircraft from the US.
Israel Faces International Pressure Over Gaza
Germany's Foreign Minister Johann Wadephul has described the humanitarian situation in Gaza as 'beyond imagination', urging Israel to send aid to avoid mass deaths due to starvation. The Israeli military is accused of making it impossible for Palestinians to safely receive aid, with crowds of hungry people met with gunfire at border crossings. Germany's foreign minister has called on Israel to be open to peace and criticized Israeli settlements as an obstacle to a two-state solution. The conflict between Israel and Hamas has resulted in over 60,000 Palestinian deaths, according to Gaza's Health Ministry. Egypt and Hamas are locked in a dispute over humanitarian aid for Gaza, with the EU urging Israel to take action to alleviate the suffering of Palestinians.