Massive setback for US President Trump as India-Russia come together on critical…, Trump would be angry because…

India and Russia have agreed to exploring opportunities in critical minerals such as copper, lithium, nickel, cobalt and rare earth.

India-Russia relations: In a massive update on India-Russia relations and a matter of bad news for US President Donald Trump, an official statement released by both the countries has declared that India and Russia are exploring opportunities in rare earth and critical minerals extraction, underground coal gasification, and creation of modern industrial infrastructure. Notably, the issue of critical minerals has been in news recently due to China’s ‘undeclared’ restriction on its exports.

What has been discussed under India-Russia Working Group?

The issue came up for discussions during the India-Russia Working Group on Modernization and Industrial Cooperation meeting, which was held here under the framework of the India-Russia Intergovernmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation.

Why Critical minerals are important for global development?

Critical minerals such as copper, lithium, nickel, cobalt and rare earth are essential raw materials required to fuel the growth of rapidly-growing clean energy technologies and their expanding uses ranging from wind turbines and electricity networks to electric vehicles and battery manufacturing.

As per a report by news agency PTI, the commerce and industry ministry said the key focus areas included cooperation in aerospace science and technology, including the establishment of a modernized wind tunnel facility, production of small aircraft piston engines, and joint development in carbon fibre technology, additive manufacturing, and 3D printing.

“Both sides also explored opportunities in rare earth and critical minerals extraction, underground coal gasification, and creation of modern industrial infrastructure,” it said.

US President Trump threatens 100 pc tariffs on semiconductors, chips

In another significant development, US President Donald Trump announced plans to impose a 100 per cent tariff on all imported semiconductors and chips in order to strengthen domestic production.

“A 100 per cent tariff (will be imposed) on all chips and semiconductors coming into the US. But if you’ve made a commitment to build (in the US), or if you’re in the process of building (in the US), as many are, there is no tariff,” the President said during a meeting in the Oval Office with Apple CEO Tim Cook.

(With inputs from agencies)