Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
Dollar Holds Steady as Markets Shift Focus to 2026 Rate Cut Expectations 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
U.S. Soybean Shipments to China Gain Momentum as Trade Tensions Ease 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
Japan’s Service Sector Sustains Growth Momentum in November 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
South Korea Posts Stronger-Than-Expected 1.3% Economic Growth in Q3 
India and U.S. Sign Critical Minerals Supply Chain Agreement for Electric Vehicles
Indian Trade Minister Piyush Goyal and U.S. Commerce Secretary Gina Raimondo have signed an agreement to enhance supply chain cooperation between India and the U.S. for critical minerals such as lithium and cobalt, vital for electric vehicles (EVs) and clean energy applications.
The critical minerals supply chain memorandum of understanding (MOU), signed during Minister Goyal's visit to Washington, is intended to bolster resilience for both countries in the EV sector and clean energy industries.
Focus on Supply Chain Resilience
The U.S. Commerce Department's statement highlighted that the MOU aims to establish strong supply chains for critical minerals. Priority areas include identifying necessary equipment, services, policies, and best practices to support the commercial development of critical minerals exploration, extraction, processing, refining, recycling, and recovery for both the U.S. and India.
Speaking at the Center for Strategic and International Studies in Washington, Goyal described the MOU as a "multi-dimensional partnership." The agreement will involve open supply chains for materials, technological advancements, and investment flows to support the development of green energy.
Inclusion of Third Countries
Minister Goyal emphasized that the cooperation between India and the U.S. on critical minerals will also include engagement with third countries, particularly those rich in minerals in Africa and South America, to further secure the supply chain for EV production.
Scope of the Agreement Compared to Japan-U.S. Trade Deal
Although the MOU marks a significant step in U.S.-India relations, it does not constitute a full critical minerals trade agreement. Such a trade deal would have allowed India to access the U.S. electric vehicle tax credit of $7,500.
In comparison, Japan signed a comprehensive deal with the U.S. Trade Representative’s office last year. This deal enables Japanese automakers to fully benefit from the EV tax credit, aiming to decrease mineral dependence on China and reduce export control restrictions on critical minerals like lithium, nickel, cobalt, graphite, and manganese.
