Business
US says dozens of countries helped China dodge Trump’s tariffs
The White House said in a report on Thursday that more than 40 countries have helped China sidestep US tariffs by routing exports through nations that face lower American import duties.
The countries named include Canada, India, Mexico, Japan and South Korea, which the White House said had helped China evade tens of billions of dollars in tariffs.
White House trade adviser Peter Navarro said it had cost “American jobs and billions in revenue”.
A spokesperson for the Chinese embassy in Washington said in response to BBC queries that “trade wars have no winners” and that it opposes the US’ tariff measures and the use of state power to target China’s companies.
The spokesperson added that “any unilateral actions or agreements concerning transshipped goods must not target or harm the interests of third parties.”
The BBC has contacted the US embassies of Canada, India, Mexico, Japan, South Korea and other trading partners listed in the report for comment.
The report follows a wave of sanctions between the US and China and comes weeks before President Donald Trump will meet Chinese leader Xi Jinping in Washington.
According to government and private sector estimates quoted by the White House, between $30bn (£22.2bn) and roughly $300bn in goods have been moved from countries with higher tariff through those with lower rates.
The process is known as transshipping, which refers to the practice of transferring cargo through another country while en route to a final destination.
The US accused China of “taking advantage” of the practice by moving goods through nations that have lower duties.
China has used third countries as a stopover and has repackaged goods to hide their real origin to obtain lower tariffs, said the White House in its report, describing the process as “fraud cloaked in paperwork”.
“What has changed in today’s Great Transshipment Scam is not merely the speed and scale of this modern form of smuggling, but the breadth, depth, and sophistication of the global Shadow Transshipment Network through which China’s tariff evasion now moves,” the White House wrote.
The US has deployed artificial intelligence (AI) tools to catch transshipment efforts, it added.
The report is expected to add to key sticking points between the sides as Trump and Xi prepare to meet in the US in September.
Despite a pause in most tariffs following talks in May 2025, Washington and Beijing have continued to exchange sanctions, including restrictions on humanoid robots shipped to the US and tighter Chinese curbs on drone exports.
In April 2025, Trump unveiled sweeping levies on dozens of US trading partners based on a long-held belief that tariffs will help boost American jobs and the economy.
Those sanctions have since been struck down by the US Supreme Court, but Trump has repeatedly introduced new tariffs using alternative legal levers to continue his signature policy.
Amidst global trade tensions, ASEAN aims to become the world’s fourth-largest economy by offering a dynamic, safe, and neutral business hub. The bloc is prioritizing rapid and quality transformation through enhanced integration, resilience, and addressing education and inclusion challenges.
Key Points
- During a period of geoeconomic and trading tensions, the Association of Southeast Asian Nations (ASEAN) is seeking to capitalize on its advantages and address its challenges.
- The bloc’s aim is to offer investors and partners a dynamic, safe, neutral space in which to do business and trade.
- Both the speed and quality of the bloc’s transition are being considered, with emphasis laid on greater integration, enhancing resilience and tackling issues like education and inclusion.
Recognizing the need for regional connectivity and diversification, ASEAN leverages its neutrality and peace to attract investors in a changing geopolitical landscape. It’s also investing in digital infrastructure, focusing on interoperability for trade, health, and e-commerce, while acknowledging the need to upskill its young population. Addressing climate change and fostering innovation are key to its future growth.
The current period of profound geopolitical transformation presents enormous opportunities and risks for countries worldwide, but perhaps none more so than the countries of the Association of Southeast Asian Nations (ASEAN).
The 11-nation bloc is seeking to become the world’s fourth-largest economy and offers a neutral, loosely harmonized, open, dynamic, increasingly entrepreneurial partner, and, according to Tulsi Naidu, Chief Executive Officer, Asia-Pacific, Zurich Insurance Group, “a compelling growth opportunity”.
Described as the most “trade-driven region,” it has shown remarkable resilience in a hostile trading environment where its members have faced US tariffs ranging from 10% to 48% in recent months.
Finding strength through collaboration
As Masato Kanda, President of the ADB, suggested, further “regional connectivity and diversification of industry and trade are the best protection against external shocks,” and with leaders cognisant of this, ASEAN is working hard to transform faster.
Like many trading blocs, ASEAN is currently questioning how best to address geopolitical and economic events. According to Thailand’s deputy prime minister, Ekniti Nitithanprapas, it’s vital ASEAN members continue to work together. As regional blocs replace multilateral set-ups and institutions, investors will naturally be looking for safety; it’s envisaged they that ASEAN’s long-standing neutrality and relative levels of peace will prove attractive. Additionally, ASEAN has a chance to reap dividends by positioning itself as a “springboard to grow to other regions”.
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Globalt Investments senior portfolio manager Keith Buchanan discusses the airline industry, JPMorgan and his top market picks for the near future on ‘The Claman Countdown.’
A Frontier Airlines flight reportedly declared a medical emergency Thursday after four flight attendants became sick with headaches and nausea shortly before landing in Florida.
Frontier Flight 1046 was traveling from Cleveland to Fort Lauderdale-Hollywood International Airport when the pilots requested that emergency medical personnel meet the Airbus A321 at the gate, according to air traffic control communications reported by PYOK.
The aircraft landed at Fort Lauderdale-Hollywood International Airport without incident, where emergency responders were waiting, according to the outlet.
As the aircraft approached South Florida, one of the pilots alerted air traffic controllers to a “developing medical” situation on board.
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A Frontier Airlines flight from Cleveland to Fort Lauderdale reportedly declared a medical emergency after four flight attendants became sick shortly before landing. (Joe Burbank/Orlando Sentinel/Tribune News Service / Getty Images)
“If you could call the tower and have them meet at our gate for a developing medical,” the pilot said in the radio call.
When asked about the nature of the medical emergency, the pilot said multiple flight attendants were experiencing symptoms.
“All my flight attendants have headaches, and now three, now four, are nauseous,” the pilot said.
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Emergency medical personnel were waiting when Frontier Flight 1046 landed at Fort Lauderdale-Hollywood International Airport after multiple crew members became sick, according to a report. (Elizabeth Page Brumley/Las Vegas Review-Journal/Tribune News Service via Getty Images / Getty Images)
The aircraft, a 10-year-old Airbus A321, departed Cleveland shortly before 8 a.m. on Thursday. It was scheduled to return to Cleveland at 11:30 a.m., but that flight was canceled, according to PYOK.
The cause of the flight attendants’ illnesses was not immediately known, and their conditions after landing were unclear.
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Four flight attendants aboard Frontier Flight 1046 reportedly experienced headaches and nausea as the aircraft approached Fort Lauderdale, Florida. (Ken Cedeno/Reuters / Reuters)
FOX Business has reached out to Frontier Airlines for comment.
SAT stayed the SEBI order against Zee Entertainment and permitted the company to go ahead with its proposed Rs 3,143 crore preferential warrant issue to promoters. The tribunal also allowed ZEE to use its mutual fund units for dividend distribution. The relief is subject to the company depositing the penalty imposed by SEBI.
The tribunal had on Wednesday reserved its order on interim relief pleas filed by Zee Entertainment and CEO Punit Goenka against SEBI’s July 31 order, which barred them from accessing the securities market.
The SEBI action stems from title documents related to a Hyderabad property owned by ZEEL. The regulator alleged that the title deeds were provided to Indiabulls Housing Finance as security for loans taken by private entities linked to the promoters without the necessary corporate approvals.
ZEEL has disputed the allegations, saying the documents were taken without authorisation and that there was no direct finding establishing that the company was aware of the arrangement. The company has also argued that it did not itself engage in fraudulent activity in the securities market.
ZEEL had approached SAT seeking permission to complete the proposed Rs 3,143 crore preferential warrant issue, citing a limited window available for the fundraise. The company told the tribunal that shareholders had already approved the issue and that it had received in-principle approval from the stock exchanges. The warrants are proposed to be issued to Sunbright Mauritius Investments, a promoter-group entity.
During the hearing, SAT questioned SEBI’s reasoning for preventing ZEEL from completing the fundraise during the two-month market-access ban, noting that the company could undertake the transaction after the restriction ended.SEBI argued that allowing the preferential issue while the market-access restriction was in force would dilute the impact of the ban imposed following regulatory violations.
The regulator also opposed Punit Goenka’s participation in the issue, arguing that he is the ultimate beneficial owner of Sunbright Mauritius Investments and is himself subject to a one-year securities-market ban. SEBI said allowing the allotment through the Mauritius-based entity could effectively give Goenka indirect access to the securities market.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Navamedic Q2 2026 slides: margins surge despite flat revenue growth
I retired early after 22 years in the energy industry with roles in engineering, planning, and financial analysis. I have managed my own portfolio since 1998 and have met my goal to match the S+P 500 return over the long term with lower volatility and higher income. I mostly write on positions I already hold or am considering changing. I prefer to hold positions for the long-term unless there is a compelling reason to sell. I look for investment opportunities without regard to asset class, market cap, sector, or yield. I would rather maximize total return over time by buying when price is low relative to intrinsic value.
Analyst’s Disclosure: I/we have a beneficial long position in the shares of HHH, BRK.B either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
Tasmanian miner Grange Resources claims it was misled when it sold a WA Goldfields royalty claimed by a subsidiary of Northern Star Resources.
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H.G. Infra Q1 FY27 slides show sharp decline, recovery targeted
The company’s Q1FY27 net profit jumped 117% to Rs 12 crore, compared with Rs 5 crore in the corresponding quarter last year. Revenue from operations also grew 12% year-on-year to Rs 716 crore, from Rs 640 crore in Q1FY26.
Praj Industries’ Bioenergy segment continued to account for the lion’s share of total segmental revenue, contributing 66%. Engineering accounted for 22%, while HiPurity contributed the remaining 12%.
Geographically, 75% of Q1FY27 revenue came from the domestic market, while exports contributed 25%.
The company also reported a healthy order intake of Rs 1,000 crore during the quarter. Exports accounted for 43% of order intake, while domestic orders contributed 57%.
More importantly, Praj Industries ended the quarter with a sizeable order backlog of Rs 4,589 crore, providing visibility for future execution.
Management sees momentum building
Commenting on the performance, Ashish Gaikwad, Managing Director, Praj Industries, said the company continued to make progress on several long-term growth opportunities despite an uncertain external business environment.Key developments during the quarter included securing a Bio-IBA order for the country’s first commercial-scale demonstration plant, signing a long-term framework agreement for precision fabrication and modularisation solutions for hyperscale data centres, and receiving its first order from a leading semiconductor player for ultra-pure water and zero-liquid-discharge (ZLD) solutions.
Gaikwad said the company expects to build on this momentum through the rest of the financial year and deliver improved performance.
Share Price and Technical indicators
Following Friday’s rally, Praj Industries has a market capitalisation of around Rs 5,910 crore. The stock’s 52-week high stands at Rs 433.
On the technical front, the stock’s 14-day RSI stands at 43.3. An RSI below 30 is generally considered oversold, while a reading above 70 indicates an overbought zone. The stock is currently trading above seven out of eight key Simple Moving Averages (SMAs) and is below only its 100-day SMA, indicating a relatively constructive technical setup despite the stock remaining well below its 52-week high.
FIIs and mutual funds raise stake
Institutional ownership also showed a positive trend in the June 2026 quarter. Foreign Institutional Investors (FIIs) marginally increased their stake in Praj Industries to 17.75% from 17.74% in the previous quarter. More notably, mutual fund holdings rose to 13.52% from 12.25%.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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