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China and the EU agree on steps to resolve their dispute over EV imports

HONG KONG, January 12, 2026 (AP) — China and the European Union said Monday they have agreed on steps toward resolving their dispute over the bloc’s imports of Chinese-made electric vehicles. A “guidance document” released by the EU on Monday gives instructions for Chinese EV manufacturers on making price offers for EV exports, including minimum import prices and other details. The EU had imposed tariffs of up to 35.3% on Chinese EV imports in 2024 following an anti-subsidy investigation. The EU said that wide variations in the types of vehicles made it necessary to set specific minimum import prices “appropriate

India’s inflation edges higher but stays below RBI target range

NEW DELHI, Jan 12 (Reuters) – India’s key inflation rate rose at its fastest pace in three months in December as the decline in food prices slowed, data showed on Monday, amid expectations that prices could continue inching up this year. Annual retail inflation quickened to 1.33% in December from 0.71% in November, government data showed. A Reuters poll had projected retail inflation at 1.5%. The print was below the RBI (Reserve Bank of India)’s target range of 2% to 6% for the fourth straight month. India reported inflation of 1.44% in September last year. Food prices fell 2.71% year-on-year

India and Germany sign deals to deepen economic and security ties

NEW DELHI, January 12, 2026 (AP) — Indian Prime Minister Narendra Modi and German Chancellor Friedrich Merz met on Monday in western Gujarat state to push for deeper economic and security ties between the South Asian nation and Europe’s largest economy. Modi and Merz held talks in the city of Gandhinagar, where the two countries signed various agreements to enhance cooperation in the defense sector, skill development, health and education, as both nations seek to reduce dependence on China and bolster economic ties. After the bilateral talks, Modi noted that Germany is India’s most important trading partner in the European

New US ambassador to India pushes for deeper trade ties despite tension over Russian oil

NEW DELHI, January 12, 2026 (AP) — The U.S. and India are actively engaged on a bilateral trade agreement to deepen economic and strategic partnership, the U.S. ambassador-designate to New Delhi said Monday. Since Russia’s full-scale invasion of Ukraine in February 2022, India has emerged as the second biggest buyer of Russian crude after China, upsetting the Trump administration, which criticized the purchases as helping fuel Moscow’s war machine. In August, President Donald Trump signed an executive order to place an additional 25% tariff on India for its purchases of Russian oil, bringing the combined tariffs imposed by the United

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