China's top foundry SMIC's co-CEO said on Friday that U.S. tariff policy had not resulted in the "hard landing" that the company was initially worried about and that strong domestic demand will keep its production capacity tight until October.

Meanwhile, India's foreign ministry has hit out at what it calls U.S. hypocrisy in ignoring its own trade with Russia that has continued through the war in Ukraine, an allegation that Trump brushed aside but didn't deny. It's also important to note that Indian companies own stakes in many Russian oil fields.