Latest news with #G7Summit
Mint
26 minutes ago
- Business
- Mint
Trump has struck trade deals with 2 countries ahead of July 9; what about the others? What is India's position?
As the July 9 deadline set by the Donald Trump administration approaches soon, officials have struggled to strike trade deals with a lot of countries. In almost three months, the US has been able to sign trade agreements with just two countries, with Trump and his officials hinting that a long pipeline is in place. Countries failing to strike deals with the US within the July 9 deadline will face tariffs as was announced by Trump in April. The President however on Friday indicated that the deadline could be moved forward. 'We can do whatever we want. We could extend it. We could make it shorter. I'd like to make it shorter. I'd like to just send letters out to everybody: Congratulations, you're paying 25 per cent,' he told reporters at the White House. Here's what you need to know about Donald Trump's trade deals. As of now, only two countries — China and UK — have signed trade deals with the US. 'The [Trump] administration and China agreed to an additional understanding for a framework to implement the Geneva agreement,' a White House official said on Thursday. That followed the talks in Geneva in May, where the US and China had agreed to reduce mutual tariffs. US Commerce Secretary Howard Lutnick told Bloomberg TV on Thursday that 'they [China] are going to deliver rare earths to us', and once Beijing does that 'we'll take down our countermeasures'. Trump signed an agreement on June 16, formally lowering some tariffs on imports from Britain as the countries continue working toward a formal trade deal. The deal, announced by Trump and British Prime Minister Keir Starmer on the sidelines of the G7 Summit in Canada, reaffirmed quotas and tariff rates on British automobiles and eliminated tariffs on the U.K. aerospace sector, but the issue of steel and aluminum remains unresolved. While UK and China are the only countries that have signed trade deals with the US, Trump on Friday called off discussions with China, calling it a 'difficult country'. Trump abruptly ended the negotiations over its tax targeting US technology firms, saying that it was a "blatant attack" and that he would set a new tariff rate on Canadian goods within the next week. Majority of the trade partners of US, including South Korea, Vietnam and EU countries, are struggling to sign deals with America. Countries like France have rejected the notion of striking a deal that favours the US, and have proposed removal of tariffs altogether. Some EU member states have also rejected the idea of a tit-for-tat tarif, and are preferring a quick deal to a perfect one. India and Japan are considered to be the next countries that could strike trade deals with the US. 'But some of the bigger countries, India, I think we're going to reach a deal where we have the right to go in and trade. Right now, it's restricted. You can't walk in there. You can't even think about it,' Trump told reporters on Friday.
Saba Yemen
12 hours ago
- Business
- Saba Yemen
Trump announces immediate end to all trade talks with canada
Washington - Saba: U.S. President Donald Trump announced the immediate termination of all trade discussions with Canada in response to Ottawa's decision to impose a digital services tax targeting American tech companies. In a post on the social media platform "Truth Social" on Friday, President Trump described Canada's digital services tax as a "direct and brazen attack on the United States." Trump stated, "Based on this outrageous tax, we are hereby ending all trade discussions with Canada, effective immediately." He added, "We will inform Canada of the tariffs they will pay to deal with the United States within the next seven days." The U.S. president further remarked, "We have just been informed that Canada—a country that has been very difficult to trade with, especially as it has imposed tariffs of up to 400% on our dairy farmers for years—has announced it will impose a digital services tax targeting American tech companies. This is a direct and blatant assault on our country." He continued, "Clearly, they are copying what the European Union did by imposing the same tax, which is now also in discussions with us on this matter." Canadian Prime Minister Mark Carney had announced last Monday that he and President Trump agreed to work toward a new economic and security agreement between their two countries within 30 days. The two leaders had met earlier on the sidelines of the G7 Summit in Alberta, where Trump reiterated his insistence on tariffs. A statement from the Canadian Prime Minister's Office said, "Prime Minister Carney and President Trump exchanged updates on key issues in the negotiations for a new economic and security relationship between Canada and the United States." Notably, the total value of U.S. goods trade with Canada reached approximately $762 billion in 2024, according to the Office of the U.S. Trade Representative. Meanwhile, the U.S. president escalated his threat to increase tariffs on certain countries by the July 9 deadline. Trump's remarks on Friday are the latest indication that some negotiations with major partners may extend beyond early July. However, the U.S. president is considering higher tariff rates for smaller economies that have not reached agreements with the United States. During a press conference at the White House, Trump stated, "At some point in the next week and a half, or maybe sooner, we will send a message. We have spoken with many countries, and we will simply inform them of what they must pay to do business with the United States." Whatsapp Telegram Email Print
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Business Standard
a day ago
- Politics
- Business Standard
Jaishankar speaks to Australian FM ahead of QUAD foreign ministers meet
External Affairs Minister Dr S Jaishankar held a conversation with the Foreign Minister of Australia, Penny Wong, ahead of the QUAD Foreign Ministers' meeting, which would take place in July. In a post on X, EAM noted that he discussed the India-Australia bilateral cooperation and the Indo-Pacific in his conversation with Foreign Minister Wong. "A good discussion this morning with FM @SenatorWong of Australia before we head out for the Quad next week. Exchanged views on our bilateral cooperation and the Indo-Pacific," On Thursday (US local time), during the US State Department's briefing, the Principal Deputy Spokesperson for US Department of State Tommy Pigott announced that the Secretary of State, Marco Rubio will host the Foreign Ministers from the QUAD countries on July 1 in Washington DC for the QUAD Foreign Ministers Meeting, Making the remarks during a press briefing, Pigott said, "Next week, Secretary Rubio will host foreign Ministers from Australia, India and Japan for the 2025 Quad Foreign Ministers Meeting on July 1 in Washington, DC. The secretary's first diplomatic engagement was with the Quad, and next week's summit builds on that momentum to advance a free, open, and secure Indo-Pacific. This is what American leadership looks like: strength, peace and prosperity". The QUAD is a diplomatic partnership between Australia, India, Japan, and the United States committed to supporting an open, stable and prosperous Indo-Pacific that is inclusive and resilient. The QUAD's origins date back to our collaboration in response to the December 2004 Indian Ocean tsunami. The developments follow after, earlier on June 18, when US President Donald Trump accepted Prime Minister Narendra Modi's invitation to attend the QUAD Summit, which will take place in New Delhi later this year, Foreign Secretary Vikram Misri had previously informed. The telephonic conversation with US President Donald Trump took place on the sidelines of the G7 Summit in Canada. "For the next meeting of QUAD, PM Modi invited President Trump to India. While accepting the invitation, President Trump said that he is excited to come to India", Misri had said in a video message. Earlier in January, US Secretary of State Marco Rubio, on his first day in office, hosted the Foreign Ministers of Australia, India, and Japan for a significant meeting of the QUAD alliance. In a joint statement, the Foreign ministers of QUAD countries reaffirmed their shared commitment to strengthening a free and open Indo-Pacific where "sovereignty and territorial integrity are upheld and defended." The Quad nations also expressed strong opposition "to any unilateral actions aimed at changing the status quo through force or coercion.
News18
a day ago
- Business
- News18
US To Host QUAD Foreign Ministers Meeting On July 1, Confirms State Department
Last Updated: hruva Jaishankar from ORF Washington DC. shared insights on the expectations from the summit, highlighting challenges in current US relations with Quad partners. US Secretary of State Marco Rubio will host the Foreign Ministers from the QUAD nations—Australia, India, and Japan—on July 1 in Washington, DC, for the 2025 QUAD Foreign Ministers Meeting, announced US State Department Principal Deputy Spokesperson Tommy Pigott on Thursday (US local time). Addressing the media, Pigott said, 'Next week, Secretary Rubio will host foreign ministers from Australia, India, and Japan for the 2025 Quad Foreign Ministers Meeting on July 1 in Washington, D.C. The secretary's first diplomatic engagement was with the Quad, and next week's summit builds on that momentum to advance a free, open, and secure Indo-Pacific. This is what American leadership looks like: strength, peace, and prosperity." Speaking to ANI, Dhruva Jaishankar from ORF Washington DC. shared insights on the expectations from the summit, highlighting challenges in current US relations with Quad partners. 'US relations with its Quad partners have been complicated of late, given differences with Japan over defence spending, Australia over AUKUS, and India over Pakistan. For these reasons, even maintaining the Quad agenda going forward is difficult, despite the US concentrating the group's focus on security, prosperity, tech, and homeland security," he noted. This meeting also follows a recent development from June 18, where US President Donald Trump accepted Prime Minister Narendra Modi's invitation to attend the QUAD Leaders' Summit in New Delhi later this year, as confirmed by Foreign Secretary Vikram Misri. 'For the next meeting of the Quad, PM Modi invited President Trump to India. While accepting the invitation, President Trump said that he is excited to come to India," Misri said in a video statement after a telephonic conversation on the sidelines of the G7 Summit in Canada. The Quad alliance, comprising Australia, India, Japan, and the United States, is a strategic partnership focused on ensuring an open, stable, and prosperous Indo-Pacific. Its origins trace back to the collaborative response to the 2004 Indian Ocean tsunami. Earlier in January, Rubio, on his first day as Secretary of State, had hosted Quad foreign ministers, emphasizing the US commitment to strengthening economic opportunity and ensuring peace and security in the region. 'On day one as Secretary of State, I hosted the Foreign Ministers of Australia, India, and Japan for an important meeting of the Quad. We are committed to strengthening economic opportunity and peace and security in the Indo-Pacific region," Rubio posted on X. In a joint statement issued after that meeting, the Quad foreign ministers reaffirmed their commitment to a free and open Indo-Pacific, where 'sovereignty and territorial integrity are upheld and defended." They also strongly opposed 'any unilateral actions aimed at changing the status quo through force or coercion." First Published: June 27, 2025, 07:03 IST
Japan Forward
a day ago
- Politics
- Japan Forward
Japan and South Korea: Will History Repeat or Reform?
Japan and South Korea marked the 60th anniversary of diplomatic normalization on June 22. Over the past six decades, their bilateral relations have swung between episodes of reconciliation and turmoil. Now, with a new progressive government in Seoul, fresh uncertainty looms. President Lee Jae-myung, who took office on June 4, comes with no prior foreign policy experience and carries a record of harsh rhetoric toward Tokyo. Lew Seok-choon, a sociologist and retired professor of Yonsei University, says a lasting friendship requires an honest reckoning with shared history and steady civilian engagement. In an interview with JAPAN Forward, Lew reflected on six decades of diplomatic turbulence, shifting regional dynamics, and South Korea's path forward under its new leadership. Following years of arduous negotiations, South Korea and Japan normalized their relations on June 22, 1965. Their leaders at the time were President Park Chung-hee and Prime Minister Eisaku Sato. Despite facing public opposition at home, Park's government maintained relatively stable bilateral ties with Tokyo throughout his presidency, relying on shared cultural affinities and economic cooperation. PM Shigeru Ishiba delivers remarks at a Japan–South Korea diplomatic normalization event in Tokyo, June 19. (Prime Minister's Office) In the 1980s, during President Chun Doo-hwan's administration, this trend appeared to persist. However, Japan's first major textbook controversy in 1982 prompted Seoul to more actively leverage historical issues as diplomatic tools. By the early 1990s, the comfort women issue had emerged as another significant source of tension between the two countries. Beyond that point, historical grievances have consistently been brandished as a diplomatic card to varying degrees. This reached its peak under the Moon Jae In administration, when bilateral relations hit a nadir. Relations then recovered markedly under Moon's successor, Yoon Suk-yeol. Yet with a staunchly leftist government returning to power, the future of Tokyo-Seoul relations remains on shaky grounds. South Korean President Moon Jae-In is welcomed by Japanese Prime Minister Shinzo Abe upon his arrival for a welcome and family photo session at the G20 leaders summit in Osaka, Japan, June 28, 2019. REUTERS/Kim Kyung-Hoon/Pool Many in Japan are aware that Lee has historically taken an openly combative stance toward Tokyo. During his recent presidential campaign, however, he softened his tone, advocating for a more robust ties. This shift was evident during Lee's first meeting with Japan's Prime Minister Shigeru Ishiba on the sidelines of the G7 summit in June. Prime Minister Shigeru Ishiba and South Korean President Lee Jae-myung meet on the sidelines of the G7 Summit in Canada. (©Prime Minister's Office) I don't see Lee as being as ideologically rigid as Moon. Many describe him as a pragmatist — someone willing to do whatever it takes to ensure political survival. I largely agree with this view. In that sense, as long as South Korea's interests and his own political position aren't threatened, he has little reason to damage relations with Japan. To that end, there is a genuine possibility that Lee and Ishiba could find common ground. The main challenge for Lee lies in his core base, which remains stubbornly left-wing and deeply skeptical of Japan. Lee, of course, has been openly critical of his predecessor's conciliatory approach toward Tokyo. If the new president were to inherit and continue those policies, widespread unrest among liberal constituents could ensue, with major consequences for Lee. Lee could pivot to a more anti-Japan stance if his approval ratings drop or if he faces domestic policy setbacks. But one crucial factor to consider is the "Trump element." Donald Trump's second term signals a much tougher approach toward China. Lee, then head of the Democratic Party, meets with Chinese Ambassador Xing Haiming in June 2023. The meeting drew criticism over what some viewed as Lee's excessive deference to Beijing. (©National Assembly Press Team) Given Lee's known pro-Beijing leanings, any move to sideline Japan and the United States in favor of closer ties with China would likely taint relations with Washington. In light of recent American strikes on Iranian nuclear sites, we now have a clearer sense of what an America First foreign policy entails. Moving forward, South Korea will need to navigate its diplomatic and security policies with great care and vigilance. Roh, of course, was a distinctly left-leaning South Korean president who served from 2003 to 2008. While his foreign policies had considerable flaws, he managed to push through several measures that faced strong opposition from his supporters. President George W. Bush welcomes President Roh Moo-hyun of South Korea to the Oval Office on Thursday, Sept. 14, 2006. (©White House) In 2007, for instance, he successfully signed a free trade agreement with the US, despite facing serious pushback from his core supporters. A good portion of them worked in the agricultural sector, which was expected to face fierce competition from cheaper American imports. Another example is Roh's decision to deploy South Korean troops to the Iraq War. While he was generally viewed as lukewarm toward Washington, Roh recognized the strategic importance of the traditional alliance. Whether Lee can demonstrate the same level of resolve remains to be seen. Personally, I don't think the current president has the same degree of conviction or charisma to pull it off. A law amended under the Moon administration criminalizes the spread of false information on the 1980 Gwangju Uprising. One scholar has already been jailed over his research. Similar attempts to penalize challenges to mainstream colonial-era narratives were introduced but ultimately failed. Lew Seok-choon and Tsutomu Nishioka discuss Japan-South Korea relations at a HARC forum in Tokyo, June 21. (©Kenji Yoshida) Under Lee, we may see renewed efforts by the left-wing dominated legislature to revive such measures. By regulating speech at home, Lee could aim to suppress pro-Japan views domestically without directly provoking Tokyo. There has been a noticeable shift in South Korean public sentiment toward Japan. A recent report by the Asan Institute for Policy Studies highlights that young people in their 20s have maintained a consistently favorable view of Japan since the Moon Jae In era. Even more significant is the gradual uptick in positive sentiment among individuals in their 60s, a generation that has traditionally been more anti-Japanese. This year, a record number of South Koreans visited Japan, and vice versa. What truly matters are these people-to-people exchanges, not politics. Governments change, and even the best policies don't always stick. For an enduring partnership, both sides, especially South Korea, must honestly confront their past and build a shared understanding rooted in mutual respect. Author: Kenji Yoshida
