Trade

• GOP lawmakers seek Trump aid for agricultural equipment after tariff pressure - Top lawmakers signaled that more federal help to farmers could be on the way, which could help tractor sales.
• Swiss government says new 15% U.S. tariff ceiling retroactive to mid-November - Switzerland agreed to reduce tariffs on imports from the United States of fish, seafood, and some agricultural products under a trade deal announced last month.
• U.S.-Indonesia trade deal is in danger of falling apart, FT reports - Washington believes Indonesia is 'backsliding' on removing non-tariff barriers to U.S. industrial and agricultural exports, among other things, FT reported.
• Trump trade rep changes China soybean purchase timeline, cites 'discrepancy' - China for months earlier this year had boycotted purchasing soybeans from U.S. farms because of a trade war began by President Donald Trump.
• Trump trade war shift away from Chinese manufacturing has reached tipping point - A long-term supply chain shift pulls the rest of Asia even with manufacturing giant China, but for importers, a short-term cash crunch from tariffs is looming.
• Putin says Russia is willing to supply 'uninterrupted' fuel to India, as U.S. pressures New Delhi to cut back - Russian oil exports have declined owing to U.S. sanctions on two of its largest oil companies Rosneft and Lukoil.
• India cuts rates to 5.25% as expected as central bank flags ‘weakness in some key economic indicators’ - India's central bank cut its policy rate by 25 basis points to 5.25%, matching forecasts from economists polled by Reuters.
• Bessent says Trump admin will be able to replicate tariffs even if it loses Supreme Court decision - The Treasury secretary cited several sections of 1962 Trade Act that give the president sweeping powers over import duties.
• India is set to host Russia's Putin, deepening trade ties, unfazed by punitive U.S. tariffs - The two countries are looking to strengthen trade ties and are likely to sign bilateral interdepartmental and business agreements during Putin's visit.
• Delayed tariff impact starting to hit, could cause companies to reduce head count in 2026 - President Trump's tariffs, aimed at reshoring American jobs lost to overseas manufacturing, could end up lowering head count instead