Growing trade frictions between Brussels and Beijing could expose up to 27% of China’s annual exports to the EU under proposed tariffs and carbon border mechanisms, according to Goldman Sachs. In diplomatic developments, Russian President Vladimir Putin met with Indian External Affairs Minister S. Jaishankar in Moscow, committing to step up mineral fertilizer exports to aid Indian farmers and address the rising $50-billion trade imbalance in Russia’s favor. Back home, maritime safety concerns intensified after the Panama-flagged bulk carrier MV Ocean Winner carrying 72,200 tonnes of iron ore sank off the Odisha coast within eight minutes. While 2 crew members were rescued, the Coast Guard and Navy launched extensive search operations for 22 missing seafarers, with experts suspecting excessive moisture causing cargo liquefaction as the primary cause of the sudden instability.