Wednesday | Pakistan

Indian exporters are bracing for a sharp decline in orders from the United States after trade talks collapsed and Washington confirmed that steep new tariffs on the South Asian nation’s goods would take effect from Wednesday, escalating tension between the strategic partners. An additional 25 per cent duty announced by President Donald Trump, confirmed in a notice by the Homeland Security Department, takes total tariffs to as much as 50pc, among Washington’s highest, in retaliation for New Delhi’s increased buying of Russian oil. “The government has no hope for any immediate relief or delay in US tariffs,” said a commerce ministry official, who sought anonymity for lack of authorisation to speak to the media. Exporters hit by tariffs would receive financial assistance and be encouraged to diversify to alternative markets such as China, Latin America and the Middle East, the official added. However, the commerce ministry did not immediately respond to an email seeking comment on the latest notice. The new duti...

Russia and Ukraine will hold new peace talks on Wednesday as a follow-up to two rounds in Istanbul that made little progress on ending their war, President Volodymyr Zelensky announced. “Today, I discussed with [Ukrainian Security Council chief] Rustem Umerov the preparations for the exchange and another meeting in Turkey with the Russian side. Umerov reported that the meeting is scheduled for Wednesday,” Zelensky said in his daily address on Monday. He added that more details would be released on Tuesday. The rival sides met in Istanbul on May 16 and June 2 amid US pressure to agree on a ceasefire. Despite the urging of US President Donald Trump, no breakthrough was made. Ukrainian and Russian negotiators have so far only agreed to hold prisoner exchanges. And Russia has since launched intense air attacks on Ukraine and seized more frontline territory. Russia has demanded that Ukraine give up four regions, on top of Crimea, which it annexed in 2014. The Kremlin also insists that Ukraine give up any idea of j...