[India Responds to Trump's Threat] In response to US President Trump's threat to significantly increase tariffs on India and accusations from the US and Europe that India is importing and even reselling Russian oil following the outbreak of the Russia-Ukraine conflict, Indian Foreign Ministry Spokesperson Randhir Jaiswal issued a statement on the evening of August 4th local time, stating, "The accusations against India are grossly unfair. India, like all major economies, will take all necessary measures to safeguard its national interests and economic security." The statement stated that India's shift to purchasing Russian oil was "truly a forced choice"—after the outbreak of the Russia-Ukraine conflict, traditional sources of supply shifted to Europe, a move the US explicitly supported at the time to stabilize the global energy market. The statement noted that India's imports are intended to ensure affordable energy for its citizens and are necessary amidst global market volatility. Interestingly, the countries criticizing India have even larger trade volumes with Russia, and their imports are largely non-essential. Data shows that EU-Russia goods trade reached €67.5 billion in 2024, and services trade reached €17.2 billion in 2023, both far exceeding India's total trade with Russia during the same period. In 2024, the EU's imports of liquefied natural gas from Russia reached a record high of 16.5 million tons. EU-Russia trade covers a wide range of sectors, including fertilizers, minerals, chemicals, steel, and transportation equipment. The United States continues to import chemical products from Russia, including uranium hexafluoride for the nuclear industry, palladium for the electric vehicle industry, and fertilizers. (CCTV International News)

Ray Dalio comments on Trump's firing of the BLS director: "I would probably fire the BLS director, too." This is because the agency's estimation process is clearly outdated and prone to errors, and there's currently no comprehensive overhaul plan. It would be good if President Trump could clarify his thinking. Regardless, the government's approach to estimating economic activity needs a major overhaul aimed at improving, not reducing, its accuracy.

[NATO Attempts to Push Forward, Russia Has Three "Trump Cards" to Counter] Estonian Public Broadcasting reported on the 3rd, citing the Estonian Ministry of Defense, that NATO is considering deploying a joint force in Estonia, with a decision expected this year. This joint German-Dutch force, if ultimately deployed in Estonia, would be based in the city of Pärnu. The city's proximity to a port, airport, railways, and highways facilitates transportation of supplies. The Estonian Defense Minister stated that infrastructure capable of accommodating 100 to 200 personnel would be required. Russia has already taken countermeasures against NATO's forward push. Russia has three "trump cards" to counter the aggressive NATO military presence along the Baltic coast. The first is the Iskander-M tactical missile. This mobile, short-range ballistic missile has a range of approximately 500 kilometers, is capable of precision strikes, and can also carry tactical nuclear warheads. The second is the Kinzhal hypersonic missile. This missile, mounted and launched from a MiG-31 fighter, has a strong penetration capability and can strike mobile targets at sea and ground military installations. Thirdly, there's the Su-57 stealth fighter. The Su-57 can provide cover for Russia's Baltic Fleet and counterbalance NATO's air power. In the future, the confrontation between Russia and NATO in the Baltic region will become even more contentious. (CCTV News)