23 April 2025 Current Affairs

U.S. Vice President J.D. Vance's 2025 visit to India

U.S. Vice President J.D. Vance is on a four-day visit to India, accompanied by Second Lady Usha Vance and their children. His visit marks a significant step in strengthening Indo-U.S. ties, particularly in the areas of trade, defence, and technology.
This visit comes amid negotiations for a Bilateral Trade Agreement (BTA) aimed at fostering mutual economic cooperation.

Highlights of the Visit and Key Developments

1. Meeting with PM Modi

• J.D. Vance met with Prime Minister Narendra Modi at his residence.
• Both leaders hosted senior officials and families over dinner.
• They announced the finalisation of Terms of Reference for BTA negotiations.

2. Trade Talks

• Trade agreement terms have been finalised; formal negotiations to resume in Washington.
• U.S. Trade Representative Jamieson Greer pointed to lack of reciprocity in trade relations with India.
• Vance emphasized India's need to open markets for American goods, including energy and defence.

3. Economic Priorities

• Vance called for a fair global trade system and equal partnership.
• He underlined the goal to open new markets for American workers and farmers.
• A pause on 26% reciprocal tariffs on Indian exports to the U.S. is set to expire on July 8, 2025.

4. Defence and Technology Cooperation

• Defence is a top priority, but the U.S. “seeks peace.”
• India was encouraged to buy more U.S. ammunition and defence equipment.
• Cooperation in AI and high technology was proposed for mutual benefit.

5. Strategic Messaging

• Vance said that the 21st century would be shaped by Indo-U.S. ties.
• He credited Modi as a "tough negotiator" and a serious leader.
• Highlighted synergy between Trump and Modi as a foundation for future collaboration.

6. Cultural Diplomacy

• The Vance family visited Amber Fort in Jaipur.
• Vance delivered a speech at the Rajasthan International Centre, Jaipur.
• Emotional resonance in Andhra Pradesh’s Vadluru village, Usha Vance’s ancestral home.

7. Indian Response

• Minister Jyotiraditya Scindia welcomed the visit as a milestone in bilateral dialogue.
• He emphasized mutual benefit and global significance of strong India-U.S. ties.

Brief Background on India-U.S. Relations

• India and the U.S. share a comprehensive global strategic partnership based on democratic values and mutual interests.
• Relations have strengthened across sectors like defence, trade, climate, energy, technology, and people-to-people ties.
• Key milestones include:

- Civil Nuclear Agreement (2008)

- 2+2 Ministerial Dialogues

- QUAD cooperation for Indo-Pacific stability

- Growth in bilateral trade, which crossed $190 billion in 2023

• Both nations collaborate on counterterrorism, cybersecurity, and supply chain resilience.

12% Safeguard Duty Imposed On Steel Imports

Amid a surge in steel imports and concerns over potential dumping, the Government of India has imposed a 12% safeguard duty on non-alloy and alloy steel flat products.
This temporary measure follows a recommendation by the Directorate General of Trade Remedies (DGTR) after observing a sharp increase in imports.
The move is aimed at protecting the domestic steel industry from serious injury due to global overcapacity and redirection of steel exports.

Key Highlights

1. Safeguard Duty Details

• A 12% safeguard duty has been imposed for 200 days (approx. 6.5 months).
• The duty applies only to flat steel products and is payable in Indian currency.
• Exemptions include CRGO, tinplate, stainless steel, rubber-coated, brass-coated, and aluminium-coated steels.

2. Price Threshold Exemption

The safeguard duty does not apply if import prices are above:

• $675/MT for hot rolled coils, sheets, and plates.
• $964/MT for colour-coated coils and sheets.

3. Background of Surge in Imports

• Imports of steel from China increased 80% to 1.61 million tonnes (Jan–July 2024).
• US tariffs (25%) on Chinese steel led to redirection of exports globally.
• India’s steel industry fears dumping due to overcapacity in China, Japan, and South Korea.

4. DGTR Findings

• Found a “sudden and sharp” rise in steel imports threatening domestic producers.
• Warned of serious injury due to foreign steelmakers’ excess capacity.

5. Indian Steel Association’s Concerns

• Cited 129 global trade remedy measures on steel (2019–2023).
• Highlighted Chinese shift from long to flat steel products for export.
• Warned of unfair pricing and market distortion.

6. Industry Response – EEPC

EEPC India Chairman Pankaj Chadha urged:

• Protection for MSMEs from price hikes and shortages.
• Export parity pricing for MSMEs to maintain competitiveness.
• Country-specific import quotas to prevent dependence on any one country.

Brief Background on Global Steel Trade Tensions

• The global steel sector has witnessed increasing protectionism due to overcapacity in China and East Asia.
• The U.S. imposed 25% tariffs on steel under Section 232 (2018), triggering retaliatory and safeguard measures globally.
• Many countries, including the EU, have implemented quotas and duties to shield domestic industries.
• India’s steel imports rose significantly in 2024, raising alarms over potential dumping and unfair competition.
• The current safeguard duty is part of India’s trade remedy toolkit to maintain a level playing field.

Pope Francis Passes Away at 88

Pope Francis, the first Latin American leader of the Roman Catholic Church, has died, the Vatican said in a video statement on Monday (April 21, 2025).

• Date of death: April 21, 2025
• Age: 88
• Time of death: 7:35 AM (Rome time)
• Place: Domus Santa Marta, Vatican City

Official Announcement

The announcement was made by Cardinal Kevin Ferrell, the Camerlengo of the Holy Roman Church, in a solemn statement from the chapel of Domus Santa Marta.
He was accompanied by senior Vatican officials including:

• Cardinal Pietro Parolin (Secretary of State)
• Archbishop Edgar Peña Parra (Substitute Chief of Staff)
• Archbishop Diego Ravelli (Master of Liturgical Ceremonies)

Background & Legacy

• Birth name: Jorge Mario Bergoglio
• Country of origin: Argentina (first Latin American Pope)
• Religious Order: Jesuit
• Elected as Pope: March 13, 2013 (266th Pope)

Major Contributions

• Advocated for LGBTQIA+ inclusion, climate action, and refugee rights
• Urged Church accountability in child sexual abuse cases
• Criticized military aggression, including Israeli airstrikes on Gaza
• Maintained strong personal outreach till the end, including daily calls to Gaza Catholics

Final Days

• Pope Francis had a long history of health issues:

- Part of right lung removed in youth due to infection

- Suffered from bronchitis, knee/hip pain, and colon inflammation

• Hospitalized at Gemelli Hospital from Feb 14 to Mar 24, 2025
• Made a surprise appearance in St. Peter’s Square on Easter Sunday (April 20)
• Passed away the next morning

Next Steps in Vatican Protocol

With the Pope's death:

• The Camerlengo takes over temporary administrative duties
• The College of Cardinals will convene to hold a Conclave to elect a new Pope
• Period of interregnum begins (no reigning pope)

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