Tariff Gamble
US President Donald Trump has once again turned to tariffs as a tool to reshape global trade. The latest round of levies introduces a 10 per cent baseline tariff on all imports while imposing higher duties on select countries.
India and Australia have decided to identify ways to strengthen partnership in co-development and co-production of defence equipment.
The 8th India-Australia Defence Policy Talks (DPT) was held at Canberra in Australia on 24-25 July. The talks were co-chaired by Special Secretary in Ministry of Defence Nivedita Shukla Verma, and Acting Deputy Secretary in Department of Defence of Australia Steven Moore.
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The two sides reviewed bilateral defence cooperation and explored new initiatives to further strengthen and deepen bilateral defence engagements.
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Both sides reaffirmed their commitment to fully implement the Comprehensive Strategic Partnership based on mutual trust and understanding, common interests and shared values of democracy and rule of law.
The Indian side highlighted the potential of the Indian defence industry with capacity and capability to cooperate with Australian armed forces in its shipbuilding and maintenance plans, an official press note said.
India and Australia share a Comprehensive Strategic Partnership from June 2020 and defence is a key pillar of this partnership.
The two countries have a 2+2 mechanism at the ministerial level. The DPT reviewed the outcomes of the maiden 2+2 conducted in September 2021. Both sides agreed on an early finalisation of a hydrography agreement.
The two sides also exchanged views on the geo-political situation, regional and global issues of shared interest.
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