China has criticised the tightening of U.S. rules on semiconductor exports, saying they have created more hurdles to trade and more uncertainty in the chip industry. The Biden administration last week revised rules aimed at making it harder for China to access U.S. artificial intelligence chips and chipmaking tools. The move by the U.S. has affected companies like Nvidia and AMD. China firmly opposes this decision and is ready to work with all parties to strengthen mutually beneficial cooperation in the semiconductor industry.
India criticizes developed nations in the WTO for not taking sufficient action on development issues despite making promises. The country emphasizes the need for flexibility in rules to support infant and young industries. India also objects to discussing new issues without addressing past decisions.
India’s wholesale price index-based inflation eased to 0.27% in January, down from 0.73% in December, according to the Commerce Ministry. The latest data indicates a continued decline in inflationary pressures in the country.
Indian shipping companies are raising concerns as the escalating incidents in the Middle East threaten global trade. The Red Sea attacks by the Houthi rebels have led to increased shipping costs and disruptions in the supply chain. Indian exporters may see a drop of $30 billion in total exports in FY24. The Commerce Ministry will hold a meeting to strategize measures to mitigate the trade impact.
