India Takes US Steel Tariffs Complaint to the WTO. India has launched a complaint against the United States to challenge U.S. President Donald Trump’s tariffs on steel and aluminum, a filing published by the World Trade Organization showed on May 23. India has said it could target U.S. exports of soya oil, palmolein and cashew nuts in its retaliation.
India Looks to Enhance Ties with North Korea. India, bolstered by recent peace signals from North Korea, is moving to strengthen ties with the reclusive regime. Indian Minister of State for External Affairs VK Singh arrived in Pyongyang on May 15 for a two-day stay, meeting with a host of senior officials. It was the first high-level visit by an Indian minister to the rogue state in nearly two decades.
China Launches First India-dedicated Investment Fund. The Industrial and Commercial Bank of China, a top state-run Chinese bank has launched China’s first India-dedicated publicly offered investment fund, urging the Chinese to invest heavily stating that the Indian economy is entering the “golden age of economic take-off”.
US and China Put Trade War ‘On Hold’. America has pulled back from launching a trade war with China that could have destabilised the global economy, by agreeing to put proposed tariffs on Chinese imports “on hold”. The breakthrough came after two days of talks between Mnuchin and China’s vice-premier, Liu He, in Washington from May 17 to 19.
China’s First Home-built Aircraft Carrier Starts Sea Trials. China’s first domestically developed aircraft carrier left its northeastern port to begin sea trials on May 13, the latest milestone in the country’s efforts to modernise its military. The still-unnamed carrier was launched this time last year but since then has been undergoing fitting of weapons and other systems and has not yet entered service.
US Warships Sail near South China Sea Islands. Two U.S. Navy warships sailed near South China Sea islands claimed by China on Sunday, two U.S. officials told Reuters, in a move likely to anger Beijing as President Donald Trump seeks its continued cooperation on North Korea.