China publicly sided with India after U.S. President Donald Trump moved to lift the levy on most Indian imports to 50%, adding a fresh 25-percentage-point surcharge that is due to take effect this week. Washington says the penalty is a response to New Delhi’s continued purchases of Russian oil, but Indian officials have warned the measure will squeeze exporters already navigating weak external demand. Speaking in New Delhi, Chinese Ambassador Xu Feihong said Beijing “will firmly stand with India” and accused the United States of acting like a bully. He added that China supports World Trade Organization rules and is prepared to open its market to “all Indian commodities,” a gesture aimed at cushioning the impact of the U.S. duties while deepening bilateral economic ties. Indian External Affairs Minister S. Jaishankar rejected suggestions that the recent diplomatic engagement between Asia’s two largest economies is driven solely by U.S. trade pressure. Nevertheless, analysts see the dispute as accelerating a tactical thaw in India-China relations ahead of the Shanghai Cooperation Organization summit later this week, where Prime Minister Narendra Modi and Chinese leaders are expected to explore broader cooperation.
🌏 #Weekahead | Extra US tariff on #India, SCO summit, Lee in Washington - Nikkei https://t.co/owqRhgZdfY
🌎 #WeekAhead | Highlights include US PCE, PBoC MLF, Minutes from ECB & RBA, Australian CPI, Japan Tokyo CPI, and Canada GDP - Newsquawk https://t.co/rHTtJItCjp
Extra US tariff on India, SCO summit, Lee in Washington https://t.co/CTrppjmr9n