The commerce ministry is actively tracking developments in global trade, particularly in relation to tariff changes, import surges, and exportrelated challenges, an official statement said on Friday.

India and the US have finalised the terms of reference for talks over the first part of a bilateral trade deal, according to a report, amid Donald Trump’s 26% tariffs that have now been paused.

Tensions escalate between the US and China as a tit-for-tat tariff war decimates their $600 billion trade. MAGA hardliners push for delisting Chinese companies, confiscating assets, and revoking student visas, while Beijing seeks international support against US tariffs. Experts warn Trump’s approach may backfire, with some seeing the US as a global destabilizer amid weakening market confidence.