U.S.-China Trade Tensions and Global Shipping Disruptions

The U.S. has intensified its trade measures against China, imposing tariffs up to 145% on certain imports. In retaliation, China has levied tariffs up to 125% on U.S. goods . These actions have disrupted global supply chains, leading to increased freight rates and rerouting of shipments.

Red Sea Crisis Update

The United Nations Security Council passed a resolution in January 2024 urging the Houthis to cease attacks and granting member states the right to protect their vessels. Despite the resolution, real security guarantees remain elusive.

India’s Strategic Trade Agreements

India is actively working to build stronger trade relationships around the world, and two key developments are making headlines.

First, India is in talks with the United States to remove import taxes on U.S. ethane and LPG (liquefied petroleum gas). If successful, this move could make energy imports more affordable and deepen trade between the two countries.At the same time, India and the United Kingdom are close to finalizing a Free Trade Agreement. While it hasn’t been signed yet, both sides are hopeful that the deal will go through soon. If it does, it could open up new opportunities for businesses and boost trade in a big way.