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Trump Delays Sweeping Global Tariffs by One Week; India and Dozens of Nations Brace for New Rates
- President Trump announced new tariffs on 69 countries, including India, effective from August 7, 2025.
- The threatened tariff hikes have been averted for now, as a new deadline is set for next week.
- India faces a 25% tariff; an additional "penalty" for Russian imports is likely but still unspecified.
- Certain goods shipped out before August 7 and arriving by October 5 will be exempt from tariffs, except for Canada.
- The U.S. is prioritizing "key trading partners" for negotiations, but no full relief deals have been reached yet.
The humbling of green Europe
- Europe faces a major energy crisis in 2025 amid gas shortages, blackouts, and soaring prices.
- Ukraine’s halt of Russian gas transit and supply cuts from Qatar and Algeria worsened the crisis.
- Record-high energy prices led to factory shutdowns, economic strain, and increased energy poverty across the EU.
- Rapid switch to renewables left energy grids fragile, exposing gaps in reliability during harsh winter demand spikes.
- The situation caused political fractures, challenging Europe’s climate leadership and energy sovereignty ambitions.
Myanmar Lifts State of Emergency, Paves Way for December Elections
- State of emergency imposed since 2021 coup officially ended.
- General Min Aung Hlaing remains acting president and retains significant power.
- Interim government formed; election commission created to oversee polls.
- Elections are planned for December 2025, to restore a “multi-party democracy”.
- Opposition groups pledge to boycott, calling election a move to legitimize military rule.
France, UK, and Canada Announce Plans to Recognize Palestinian State in Major Diplomatic Shift
- France, UK, and Canada have announced intentions to recognise the State of Palestine in September 2025.
- France will be the first G7 and permanent UN Security Council member to take this step.
- UK recognition is contingent on Israel halting military actions in Gaza and advancing a peace process.
- Canada’s recognition requires democratic reforms within the Palestinian Authority and general elections without Hamas.
- Almost 150 UN member countries will have formally recognised Palestine following these announcements, marking a global shift.
The US acknowledges India as an ally but admits they can't fully align on all issues
- Trump announced a 25% tariff on Indian exports, citing trade imbalances and Russian ties.
- The US emphasized India remains a key ally but noted differences on some strategic issues.
- India vowed to protect its economic interests and rejected any deal compromising national priorities.
- Economists warned the tariffs could hurt Indian exports and shave off GDP growth in FY26.
- Officials in both nations signaled continued talks, but no immediate full alignment is expected.