ANI
11 Jul 2025, 12:31 GMT+10
New Delhi [India], July 11 (ANI): Trade negotiations between the United States and China are moving slowly, raising the chances that the current tariff deadlines may be extended, according to a report by SBI Funds Management.
The report highlighted that the ongoing talks have once again hit a familiar deadlock, with both sides showing limited progress. A major concern in these discussions is China's dominance in rare earth processing, an area where it controls 90 per cent of the global capacity.
These rare earth materials are crucial for various industries, especially in electric vehicles, electronics, and clean energy.
China has already started placing curbs on the export of rare earths. The report mentioned that this move is beginning to affect the global automobile sector, particularly electric vehicle production in the US, Europe, and India. The situation adds more complexity to the ongoing trade talks.
The current deadline for tariff decisions was July 9, 2025. While US President Donald Trump recently announced that the tariffs announced in April will be implemented from August 1, against countries who failed to sign a deal, the report expresses doubt and suggests that there could be a further extension of the deadline due to the slow pace of the negotiations.
The SBI report also pointed out that many countries are still focused on maintaining stable trade relations with China, which is making it difficult for the US to push forward its tariff plans.
Despite US efforts, China remains a key player in global trade and is largely not part of new trade agreements being formed.
Among the US's trade partners, India, Vietnam, and Japan are in a better position to finalize trade deals. India, in particular, is actively working to reduce tariffs and is one of the few nations showing interest in investing in US sectors like semiconductors and shipbuilding.
For India, the trade relationship with the US is especially important, as the US now accounts for 20 per cent of India's total exports.
The report also outlined that any agreement between the two countries would be critical for future growth and stability. (ANI)
Get a daily dose of Russia Herald news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Russia Herald.
More InformationNEW YORK CITY, New York: Former British prime minister Rishi Sunak will return to Goldman Sachs in an advisory role, the Wall Street...
LONDON, U.K.: Physically backed gold exchange-traded funds recorded their most significant semi-annual inflow since the first half...
AMSTERDAM, Netherlands: Some 32 percent of global semiconductor production could face climate change-related copper supply disruptions...
NEW YORK, New York - U.S. stocks rebounded Tuesday with all the major indices gaining ground. Markets in the UK, Europe and Canada...
NEW YORK CITY, New York: Financial markets kicked off the week on a cautious note as President Donald Trump rolled out a fresh round...
RIO DE JANEIRO, Brazil: At a two-day summit over the weekend, the BRICS bloc of emerging economies issued a joint declaration condemning...
NEW YORK CITY, New York: With just weeks to spare before a potential government default, U.S. lawmakers passed a sweeping tax and spending...
New Delhi [India], July 11 (ANI): Trade negotiations between the United States and China are moving slowly, raising the chances that...
New Delhi [India], July 11 (ANI): Indian stock markets opened under pressure on Friday as continued tariff tensions led by US President...
Washington DC [US], July 11 (ANI): The response to the April 22 Pahalgam attack reflects a significant shift in India's counterterrorism...
The United States is sending weapons to Ukraine through NATO, US President Donald Trump said on July 10, a week after the Pentagon...
Tel Aviv [Israel], July 11 (ANI/TPS): Israeli Prime Minister Benjamin Netanyahu spoke Thursday afternoon with the head of the Gush...