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The Latest Breaking News from MFN

India gets 6.94 lakh tonnes of steel quota annually for exports under India-EU free trade pact

India will receive substantial tariff-rate quotas for steel exports to the European Union. These quotas total 1.64 million tonnes annually, with a portion under a free trade agreement. The European Union's new regulation aims to protect its domestic steel industry from overcapacity. India's exports outside these quotas will face applicable…

The Economic Times

Nine New Drugmakers Join Trump's Pricing Pact — But the Savings Remain Unproven

Nine more drugmakers joined Trump's MFN pricing deal, but the discounts flow through Medicaid — a program Texas and Florida never expanded.

Latin Times

Sun Pharma among 9 pharmaceutical firms to lower drug prices for Americans, Trump says

Nine pharmaceutical firms reached deals with the Trump administration for lower drug prices. These agreements expand the total number of companies to twenty-six manufacturers. The deals cover medicines for chronic and rare diseases, benefiting Medicaid programs. Sun Pharma will contribute antibiotics to the US Strategic Active Pharmaceutical Ingredients Reserve. These…

The Economic Times

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Drug prices have declined sharply, and Trump is taking credit. The reason behind the drop is complex

President Donald Trump has been promoting new data showing U.S. prescription drug prices fell 0.8% in July and are down 3.1% from a year ago

The Independent UK

Prospective Legal Challenges to Trump's Section 338 Tariffs Against Canada

A guest post by Georgetown legal scholars Peter E. Harrell and Jennifer Hillman.

Reason

US Sec 301 tariffs unlikely to hit India's exports, textiles need close watch, says FIEO chief

India's exports face minimal impact from new United States tariffs, according to FIEO. The nation is placed in the lower ten percent tariff category by the US. However, the textile sector requires close monitoring for future tariff-rate quotas. Products already under Section 232 tariffs will not be affected by this…

The Economic Times

Warren Says Trump's Law Pushed 2 Million-Plus Children Off Medicaid, CHIP Across States

Sen. Elizabeth Warren (D-Mass) said a law signed by President Donald Trump a year earlier has already pushed large numbers of children off Medicaid and the Children’s Health Insurance Program across dozens of states.

Benzinga

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India-US trade deal enters crucial phase as Section 301 and tariff deadline loom large

India and the US are in the final stages of trade deal negotiations, with a July 24 deadline looming. A key sticking point is Section 301 of the US Trade Act, which India fears could lead to the re-imposition of tariffs. Experts suggest a 10% chance of missing the deadline,…

The Economic Times

India, US to hold ministerial-level talks on bilateral trade pact this week

In a significant development, India and the US are set to conclude the first phase of their trade agreement this week. Commerce Minister Piyush Goyal is scheduled to meet US Trade Representative Jamieson Greer, with discussions geared towards finalizing an interim deal before the July 24 deadline, coinciding with the…

The Economic Times

India-Oman trade pact creates strong export push for India's textile MSMEs: Govt

India's textile and apparel sector is poised for significant growth in Oman following the India-Oman Comprehensive Economic Partnership Agreement (CEPA). The pact grants immediate duty-free access on 945 textile and apparel lines, eliminating a 5% MFN duty. This move is expected to boost India's exports, valued at $95.

The Economic Times

Why India should rethink its opposition to WTO plurilateral deals

The 14th WTO ministerial conference highlighted a divide between multilateralism and plurilateralism. India advocates for multilateralism but faces a changing global trade landscape. The article suggests India should strategically engage with plurilateral agreements. This engagement should focus on MFN-based, open plurilaterals housed within the WTO. Such an approach allows India…

The Economic Times

Pfizer's TrumpRx Pact Sends Shockwaves: Why UnitedHealth, Lilly And CVS Can't Look Away

Pfizer Inc's (NYSE:PFE) deal with Washington isn't just a handshake in the Oval Office — it's a seismic jolt to America's drug-pricing game. By agreeing to sell medicines on the government's new TrumpRx platform at steep discounts and extend "most favored nation" (MFN) pricing to Medicaid, Pfizer bought itself a…

Benzinga

EU, US release long-awaited trade statement setting 15% all-inclusive tariff on EU goods

The joint statement, which comes nearly a month after the trade deal was struck, is being described as a "first step" by the EU side, which hopes to secure more tariff exemptions.

Euronews

Early-Stage Startup Deals: How Does a SAFE Work?

Investing in an early-stage startup can get complicated fast, so the venture capital industry turns to other investing options. One is a SAFE.

Kiplinger

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Al Jazeera

Where are the highest, lowest tariffs? Trump’s reciprocal tariffs explained

The US has some of the lowest tariffs in the world. Trump wants to reverse that with reciprocal tariffs on April 2.

Metal Hammer

“There were death threats flying around. They were burning my effigy at punk bonfires”: The tumultuous story of Peaceville Records, the underground label that helped shape extreme metal

The Hindu

A verdict that hampers international law obligations

The judiciary's interpretation in Assessing Officer Circle (International Taxation) New Delhi vs M/s Nestle SA case allows the executive to undo its international law obligations

Reason

The Increasingly Dangerous Variants of the "Most-Favored-Nation" Theory of Religious Liberty, Part II: The Origins of MFN

The present doctrinal development begins with Church of Lukumi Babalu Aye v. Hialeah (1993), in which the Court invalidated a ban on animal sacrifice. The Court had previously held that there was no right to religious exemptions from neutral laws. But this law wasn't neutral. It targeted an unpopular religion…

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Reason

Prof. Andrew Koppelman (Northwestern) Guest-Blogging About Religious Liberty

I'm delighted to report that Prof. Andrew Koppelman (Northwestern) will be guest-blogging this coming week about his new article, "The Increasingly Dangerous Variants of the 'Most-Favored-Nation' Theory of Religious Liberty": The First Amendment prohibits discrimination against religion. In a short time, mostly in cases challenging efforts to contain the Covid…

Bangkok Post

Vietnam plans to cut MFN tariff on gasoline to fight inflation

HANOI: Vietnam plans to cut its Most Favoured Nation (MFN) tariff on gasoline to 12% from 20% to help ease inflationary pressure, the government said on Thursday.

The Hindu

In sanctions route, what the world must take note of

Countering Russia’s illegality against Ukraine with measures not ingrained in international law amounts to reprisal

The Independent UK

EXPLAINER: What is meaning of 'most favored nation' status?

In escalating the U.S. drive to squeeze Russia’s economy, President Joe Biden moved to revoke Moscow’s “most favored nation” trade status

The Guardian - UK

G7 nations strip Russia of ‘most favoured nation’ status

Group of wealthy nations plan to revoke benefits and impose heavy tariffs to further isolate Moscow over Ukraine war

Reuters

EU considers suspending equal treatment for Russia at WTO

The European Union said it was looking into suspending 'most-favoured nation' (MFN) treatment for Russia at the World Trade Organization over Moscow's invasion of Ukraine, meaning the bloc would be able to hike tariffs or set quotas on Russian imports.

Caixin Global

Opinion: China Has Approved Pfizer’s Covid Drug. What’s Next?

The government now needs to place an order and set a delivery schedule, given the limited supply

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