trade war with the united states

President Trump has halted 'Project Freedom,' a US military initiative to escort ships through the Strait of Hormuz, citing requests from Pakistan and progress toward a deal with Iran. This pause comes after the US declared the offensive phase of 'Operation Epic Fury' complete, emphasizing defensive actions in the region.

US President Donald Trump announced the removal of tariffs and restrictions on whiskey trade between Scotland and Kentucky. This decision, influenced by the recent visit of King Charles and Queen Camilla, aims to bolster long-standing trade ties, particularly concerning wooden barrel exchanges.

The Trump administration asserts the U.S. is not at war with Iran, despite approaching the War Powers Resolution's 60-day deadline. House Speaker Mike Johnson echoed this, stating no congressional authorization is needed as active hostilities have ceased. This stance, however, faces challenges from Democrats who argue the deadline remains binding.

The Pentagon estimates the war with Iran has cost $25 billion, though sources suggest the true figure could reach $50 billion due to unincluded repair costs. Officials defended the ongoing conflict, calling it an "existential fight" and dismissing concerns of it becoming a "quagmire."

Indian companies are set to invest over $20.5 billion dollars in the United States in various sectors including technology, manufacturing, and pharmaceuticals. "Twelve Indian firms alone announced 1.1 billion dollars in new investments today and these partnerships are creating American jobs and strengthening supply chains," US ambassador to India Sergio Gor said.

Global oil prices surged to a four-year high amid escalating US-Iran tensions and fears of a Strait of Hormuz closure, impacting gasoline prices and broader economies. Analysts warn of a potential global recession due to supply disruptions, with shortages already affecting various goods. Experts predict further price hikes until the strait reopens.

In a significant move honoring King Charles III and Queen Camilla's state visit, US President Donald Trump has agreed to lift tariffs on British whisky exports. This decision, announced via Truth Social, aims to revive trade between Scotland and Kentucky, which had been impacted by the 10% levy.

India remains on the US Trade Representative's Priority Watch List for intellectual property protection, a designation that carries no legal ramifications but serves as a negotiation tool. The US cited concerns over pharmaceutical IP rules, while India maintains its regime ensures affordable medicine access and WTO compliance.

Under the proposed interim trade deal, the US has lowered tariffs on India from 50% to 18%. In August last year, Trump had imposed a 25% reciprocal tariff on India and an additional 25% penal tariff for India’s crude oil purchases from Russia.

Pakistan's economy has been severely impacted by the US-Iran war, with oil import bills skyrocketing and economic progress stalling. Prime Minister Shehbaz Sharif stated that Islamabad will continue its efforts to mediate and restore peace in West Asia, highlighting recent diplomatic breakthroughs and planned future talks.

Global defence spending is soaring, exceeding $2.88 billion last year, with the US leading at $961 billion. Driven by conflicts and evolving warfare, nations are boosting military budgets, with Europe rearming and NATO members increasing commitments. This surge reflects economic power, national priorities, and the per-person cost of security, with Ukraine topping GDP allocation.

The Pentagon is withdrawing approximately 5,000 US troops from Germany, a move signaling heightened tensions with European allies over the Iran conflict. This decision follows sharp criticism from German Chancellor Friedrich Merz regarding Iran negotiations. The drawdown aims to return US troop levels in Europe to pre-Ukraine war figures, reflecting broader US frustration with NATO allies' perceived lack of support.

The US State Department has fast-tracked over $8 billion in arms sales to Israel and Gulf allies, bypassing Congress via emergency powers. Citing regional threats, Secretary Rubio approved precision weaponry and missile defense systems. This move escalates a dispute over executive authority, with President Trump deeming war powers limits unconstitutional amid rising Iran tensions.

President Trump is considering reducing US troop presence in Italy and Spain, citing their lack of support for the Iran war and Strait of Hormuz efforts. This move signals a widening rift with European allies over military objectives and burden-sharing within Nato.

The United States is looking for "concrete actions" by Iraq's next prime minister to distance the state from pro-Iran armed groups before resuming financial shipments and security aid, a senior official said Tuesday. But a senior US State Department official, speaking on condition of anonymity, said Zaidi must address the "blurry line" between pro-Iran armed groups in the Shia-majority country and the state.