India and the U.S. are poised to seal a landmark interim trade deal before the July 9, 2025, tariff deadline, with former USTR negotiator Mark Linscott calling it “historic” in an exclusive interview.

Focusing on tariff reductions and market access for industrial goods and select agricultural products, the agreement aims to boost bilateral trade to $500 Billion by 2030.#IndiaUSTrade #TradeDeal #MarkLinscott #Tariffs

Welcome to Top of the Morning by Mint.. I’m Nelson John and here are today’s top stories.

25 Crore Workers Strike: Bharat Bandh Takes Centre Stage

India is witnessing one of its biggest labour uprisings. On Wednesday, over 25 crore workers across banking, insurance, coal, postal, and transport sectors are expected to join a nationwide strike—Bharat Bandh—led by 10 central trade unions.

The unions are protesting what they call the Modi government’s “anti-worker, anti-farmer, pro-corporate” policies. The flashpoint? The four new labour codes, which unions say erode workers’ rights, extend working hours, weaken collective bargaining, and decriminalize violations by employers.

Farmers’ unions, including the Samyukta Kisan Morcha, are also backing the strike. “This isn’t just about wages,” said Harbhajan Singh Sidhu of Hind Mazdoor Sabha. “It’s a fight for the soul of India’s workforce.”

China Fumes Over Modi’s Dalai Lama Wish

A SEBI study has revealed a brutal truth—91% of retail traders in equity derivatives lost money in FY2025, with net losses ballooning to ₹1.05 lakh crore, up 41% from the previous year.

Retail participation in F&O also dropped 20% year-on-year, reflecting rising disillusionment. Despite some pullback in volumes, India still sees intense activity in index options.

The data comes as SEBI tightens its oversight of the derivatives market, with new risk-monitoring and transparency norms introduced this year. “The house still wins,” the study suggests, “and most traders are paying—not playing—the market.”

Trump Tariff Tsunami Hits Asia—India Spared, For Now

China has issued a formal protest to India after PM Narendra Modi wished the Dalai Lama on his 90th birthday and Union ministers attended celebrations in Dharamshala. Beijing labelled the Tibetan leader a “separatist” and accused India of violating past commitments on Tibet, which it refers to as “Xizang.”

Chinese officials also reignited the reincarnation debate, asserting that the centuries-old process is under Chinese jurisdiction—not the Dalai Lama’s. India maintained that it doesn’t comment on religious matters and supports freedom of belief.

The Dalai Lama, meanwhile, declared his reincarnation will be decided outside China, reinforcing the deep spiritual-political divide between the neighbours.

Trump Nominated for Nobel After Iran Strikes

President Donald Trump has announced steep new tariffs—up to 40%—on imports from 15 countries, including key Asian economies like Thailand, Cambodia, Indonesia, and South Korea. But India is notably exempt, amid pending talks on a bilateral trade agreement.

Trump says the move is part of his Reciprocal Tariff Policy to counter “unfair trade barriers.” Laos and Myanmar face the steepest duties (40%), while Japan and South Korea are hit with 25%.

India’s absence from the list gives it a temporary export edge in sectors like textiles, toys, and electronics. “Indian products may gain a pricing edge,” said FIEO’s Ajay Sahai.

But with a July 9 deadline for the tariff pause and the trade deal still unsigned, India’s free pass may not last long.

In a high-stakes moment of international optics, Israeli PM Benjamin Netanyahu nominated Donald Trump for the Nobel Peace Prize—just two weeks after the U.S. bombed Iranian nuclear sites.

Netanyahu called it a “historic victory” and praised Trump’s Middle East strategy. Trump, meanwhile, revealed Iran has approached the U.S. for talks and compared the bombings to the atomic strikes on Japan in World War II.

Trump also claimed Hamas is now seeking a ceasefire in Gaza and floated the idea of Palestinian relocation. He sidestepped a two-state solution question, deferring to Netanyahu, who said peace is possible only with Palestinian neighbours who “don’t want to destroy Israel.”

With Assad gone in Syria, Netanyahu believes new alliances can be forged in the region. Peace talk, power plays, and posturing—it’s diplomacy, Trump-style.

Hindustan Times Executive Editor Shishir Gupta speaks with Abhishek Singh, Deputy Editor at Livemint, about the growing friction between China and the Tibetan Buddhist community following the Dalai Lama’s latest succession announcement. The 14th Dalai Lama has made it clear that the spiritual lineage will continue after him and that his successor will be selected by a trust he established, not by the Chinese government. As he nears his 90th birthday, the Dalai Lama’s stance is seen as a direct rebuke to Beijing’s bid to control Tibetan religious affairs. Why is atheist China so unsettled by this declaration? And what are the implications for India-China relations? Tune in to this episode of Point Blank for the full analysis.#dalailama #ccp #chinesecommunistparty #xijinping #buddhism #tibet