USTR & India Commerce Minister to Finalize Trade Deal Amid $94.53 Billion FDI Inflows and Section 301 Review

US Imposes 50% Tariffs on $20 Bn Canadian Goods via Section 338; Canada Retaliates Dollar-for-Dollar

The US-Canada trade war escalates as Washington imposes 50% tariffs on $20 billion worth of Canadian goods under a rarely-used Depression-era law (Section 338 of the Tariff Act of 1930). Canada, led by new PM Mark Carney, vows dollar-for-dollar retaliation. This marks the first use of Section 338, after the US Supreme Court struck down earlier tariff powers under IEEPA. For exam aspirants, this is a key case study on trade law, executive power, and international economic diplomacy.

India-Russia Set $100 Billion Trade Target by 2030; Jaishankar Meets Putin on Energy, Fertilisers, High-Tech

Ahead of the SCO and BRICS summits, EAM Jaishankar meets Putin to deepen bilateral ties in energy, fertilisers, and high-tech. India-Russia set a $100 billion trade target by 2030, with trade reaching a record $68.7 billion in FY2024-25. This is critical for India's energy security, fertiliser imports, and strategic autonomy.

Brazil-India Trade Nears $20 Billion, BRICS Not Anti-Western, Says Brazil FM

Brazil's Foreign Minister Mauro Vieira highlights rapidly growing Brazil-India bilateral trade, nearing $20 billion with a $30 billion target by 2030. He clarifies that BRICS is not an anti-Western bloc and has no intention to replace the US dollar, while the New Development Bank aims to reform global governance. The interview also covers the pause in BRICS expansion and Brazil's deepening engagement with ASEAN.

India-Uzbekistan Elevate Ties to Comprehensive Strategic Partnership, Set $5 Billion Trade Target by 2030

India and Uzbekistan upgraded their bilateral relationship to a Comprehensive Strategic Partnership, marking a significant deepening of ties. Key outcomes include a $5 billion annual trade target by 2030, a long-term uranium supply framework, and the establishment of a Coordination Council at the foreign ministers' level.

BRICS New Delhi Declaration: India's Dilemma on Local Currency Trade vs. Strategic Autonomy

The BRICS New Delhi Declaration highlights India's cautious approach to local currency trade, balancing export advantages from a depreciating rupee against the risk of yuan dominance and US tariff threats. India supports local currency trade but opposes a common BRICS currency due to China's likely control.

India-China Bilateral Trade Reaches $125 Bn (22.6% YoY) Post Xi-Modi Meet; BRICS AI Plan

The September 12, 2026 Xi-Modi meeting in New Delhi signals a diplomatic thaw in India-China relations. Bilateral trade surged to $125 billion (Jan-Aug 2026) with Indian exports up 41%. China also proposed a BRICS AI open-source initiative, offering rich fodder for UPSC topics on IR, economy, and technology governance.

US-China Summit: 2-Month Trade Truce Extension, AI Safety Off Agenda, India Faces Russian Oil Tariff Risk

Trump-Xi summit (Sept 23-24, 2026) resulted in a symbolic but substance-light outcome. AI safety was dropped from talks, a 2-month trade truce extension was agreed, and India faces increased tariff pressure for buying Russian crude oil as China gets a temporary exemption. The summit reinforces India's suspicion that it is the primary US target under the Lindsey O. Graham Sanctioning Russia and Iran Act.

India-Canada CEPA Talks Fast-Tracked; $50 Bn Trade Target by 2030, PM Modi Visit in Dec 2026

India and Canada are accelerating efforts to finalize a Comprehensive Economic Partnership Agreement (CEPA) ahead of PM Modi's proposed visit to Canada in December 2026. Both sides aim to expand bilateral trade to $50 billion by 2030 and have launched a strategy focusing on nuclear energy, critical minerals, clean energy, and allied sectors. This marks a major reset in ties after the 2023 diplomatic row.