US Pitches Anti-China ‘Shield' With Manila? China ‘Preps Military City', ‘Shadows' NATO Warship
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Time of India
an hour ago
- Time of India
US, EU clinch trade pact ahead of August 1 deadline; Trump says 'good deal for everybody'
US President Donald Trump on Sunday announced that he had reached a long-anticipated trade agreement with European Commission President Ursula von der Leyen , after a high-stakes meeting at his Turnberry golf resort in Scotland. 'We have reached a deal. It's a good deal for everybody,' Trump told reporters, describing the outcome as a significant win for both sides. Von der Leyen echoed the sentiment, calling the agreement 'a good deal' for Europe as well. Explore courses from Top Institutes in Please select course: Select a Course Category Finance Cybersecurity CXO Data Science Project Management Management healthcare MCA Degree PGDM Data Analytics MBA Leadership Technology Others Public Policy Design Thinking Data Science Healthcare Digital Marketing Operations Management others Artificial Intelligence Product Management Skills you'll gain: Duration: 7 Months S P Jain Institute of Management and Research CERT-SPJIMR Fintech & Blockchain India Starts on undefined Get Details Skills you'll gain: Duration: 9 Months IIM Calcutta SEPO - IIMC CFO India Starts on undefined Get Details The breakthrough comes just days before the August 1 tariff deadline, which had loomed large over transatlantic trade as the EU and the US are each other's largest trade partners and account for 1/3 of all global trade. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 4BHK Villas with Private Garden ATS Infrastructure Ltd Learn More Undo While official details of the pact have not yet been released, EU and US officials had earlier indicated that the agreement would likely include a 15% baseline tariff on most EU goods—a compromise that falls short of Europe's initial zero-tariff ambition but steers both sides away from a damaging escalation. Talks leading up to the deal involved a flurry of last-minute diplomacy, with US Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick meeting with EU Trade Commissioner Maros Sefcovic ahead of the Trump–von der Leyen summit. Live Events The EU deal marks the fifth trade agreement the Trump adminsitration has drawn up ahead of the implementatio of the so-called "reciprocal tariffs". Earlier this month, the US also inked pacts with Britain, Japan, Indonesia and Vietnam with a deal with India still hanging in the balance. In the absence of a deal, the EU had been preparing countertariffs on $109 billion worth of American goods—an economic standoff that now appears to have been averted. Whether sector-specific levies, such as the 50% duty on European steel and aluminium or pending tariffs on cars and pharmaceuticals, will be lifted or folded into the baseline 15% remains unclear.
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Business Standard
2 hours ago
- Business Standard
A shift in mindset: India-UK trade deal paves way for those with EU, US
The question is how much this shift in mindset can be applied now to other trading partners, particularly the European Union (EU) Business Standard Editorial Comment Mumbai Listen to This Article On Prime Minister Narendra Modi's visit to the United Kingdom (UK) last week, India and the UK finalised and signed a Comprehensive Economic and Trade Agreement, which appears to be the most expansive trade deal that India has agreed to in recent years. A free-trade agreement (FTA) between the two countries has been under discussion for some years now. Negotiations were formally launched in January 2022; then UK Prime Minister Boris Johnson had hoped to have it 'done by Diwali' that year. But in fact, informal discussions had been going on since even before Britain voted to leave the European
The Hindu
5 hours ago
- The Hindu
Legacy of Chola dynasty provides road map for modern India, says PM Modi in Tamil Nadu
Paying glowing tributes to the military might and administrative acumen of Rajendra Chola I and his father Rajaraja Chola in Tamil Nadu, Prime Minister Narendra Modi on Sunday (July 27, 2025) said the heights reached by the emperors were a source of inspiration, providing an ancient road map for the country to become a developed nation. 'The economic and strategic advancements achieved during the Chola era remain a source of inspiration for modern India. To become a developed nation, we too must prioritise unity; strengthen our Navy and Defence forces and look for new opportunities, even while safeguarding our core values,' Mr. Modi said at the valediction of the Aadi Thiruvathirai festival marking the birth anniversary of Rajendra Chola I at Gangaikonda Cholapuram. Follow PM Modi in Tamil Nadu highlights here Mr. Modi released a commemorative coin in honour of Rajendra Chola I on the occasion. The king had built Gangaikonda Cholapuram, the ancient capital of the Imperial Cholas, along with the Brihadisvara Temple and the Cholagangam, a massive lake, after his victorious expedition to the Gangetic plains about 1,000 years ago. The Prime Minister announced the Centre would install grand statues of the two emperors in Tamil Nadu, to serve as the pillars of country's historical consciousness. 'The legacy of Rajaraja Chola and Rajendra Chola is synonymous with India's identity and pride. The history and heritage of the Chola Empire proclaim the true potential of India,' he said. Rajaraja Chola built a powerful navy; his son Rajendra Chola I strengthened it. The Cholas strengthened local administration, established extensive trade and cultural links to bring out about development in various spheres to his country. The Chola rulers had extended their diplomatic and trade relations to Sri Lanka, the Maldives, and Southeast Asia, he pointed out. India too placed the highest priority on its national security, Mr. Modi said and added that through Operation Sindoor, the world has witnessed the firm and decisive response of the country to any threat to its sovereignty. Pointing out the Chola reign was considered to be one of the golden ages of the country by historians, Mr. Modi said the dynasty was not only known for their military strength but also for being the mother of democracy by introducing the kudavolai system of electing local representatives centuries ago. The global discourse now revolves around water management and ecology preservation, but our ancestors understood the importance of these issues long ago, Mr. Modi said citing the Cholas excellent water management systems. 'The Chola rulers had woven a thread of cultural unity. Our government is carrying forward their ideals,' he said referring to the conduct of the Kashi Tamil Sangamam and the Saurashtra Tamil Sangamam to reinforce centuries-old bonds of unity. Over the past decade, the nation had worked on mission mode to preserve its cultural legacy. About 600 ancient statues and artefacts, which had been stolen and sold abroad, have been brought back to India since 2014. Of these, 36 belonged to Tamil Nadu. The Prime Minister paid tributes to the country's Shaivite tradition too, saying it played a vital role in shaping the nation's cultural identity. If only the world adopted the teaching of Tirumular, 'Anbe Shivam' (Love is God), problems such as instability, violence and environmental crises could be solved, he observed. Tamil Nadu Governor R.N. Ravi, Union Minister of State for Information and Broadcasting L. Murugan, State Ministers Thangam Thennarasu and S.S. Sivasankar, and Lok Sabha MP Thol. Thirumavalavan, were among the participants.
