India, China eye business reset amid Trump’s tariff squeeze
Summary
Indian Prime Minister Narendra Modi's visit to China aims to reset business ties amid rising US tariffs on both countries, signaling a possible shift in regional cooperation and global trade dynamics.
Key Points
- The US has raised tariffs on Indian exports like diamonds and shrimp to 50 percent as retaliation for India's continued purchase of Russian oil.
- Chinese President Xi Jinping also faces steep US tariffs impacting China's slowing economy.
- Modi's visit to China is seen as a potential turning point to recalibrate relations marked by mistrust and past conflicts.
- India and China seek greater cooperation in trade and regional stability amid pressure from US tariff policies.
