India Economic Shock & Energy Hedging: S&P says Iran-war spillovers are India’s worst since 2022, pushing inflation risk and forcing a shift toward longer-term fiscal recalibration, eased foreign investment rules, and tighter energy/labour diversification. US-China Trade Mechanism: China and the US agreed to set up a bilateral trade council to negotiate reciprocal tariff cuts on goods worth $30B+ and formalise a structured dialogue. India-US Trade Deal Timing: Piyush Goyal says the US deal won’t take effect unless India gets a clear tariff advantage over competitors, with implementation tied to tariff-system changes ahead of deadlines. India-UK Trade Rollout: India’s CETA and the Double Contribution Convention are set to start on July 15, with both sides pitching it as a template for future trade deals. Fuel Relief in the Pacific: Fiji expects major fuel price cuts from July as oil prices ease with US-Iran de-escalation and Strait of Hormuz reopening. Nepal-India Tea Dispute: Nepal’s tea industry restarted after assurances, but producers warn India’s stricter import testing could keep delays and factory shutdowns going. South Asia Trade Push: Bangladesh’s PM urges China to cut its trade gap and diversify imports; China backs Bangladesh’s new government and promises high-quality Belt and Road cooperation. South Africa-China Regulation Talks: Pretoria and Beijing plan regulatory MoUs to deepen trade and investment, including an early harvest push via SACU. Labour & Safety Flashpoint: A Kolkata warehouse collapse killed 11 workers, spotlighting weak enforcement in informal warehousing. Human Rights Meets Trade Risk: South Korea’s “salt farm slave” case returns as trafficking victims are recognised, raising scrutiny that could spill into trade and compliance. Africa Trade Resilience: Afreximbank reports Africa’s 2025 growth at 4.5% and trade at $1.5T, but flags a $74B trade finance gap and logistics disruptions.