With the established world trade order continuing to be upset by new and frequently-shifting tariffs in the US, one focus that has come to the fore recently is the impact on India. The south Asian nation - the world's most populated country - has long seen the US as the number one destination for its goods, with exports to the US rising by 11.6 percent in 2024-25 to $86.51 billion.
However, new tariffs are threatening to disrupt this relationship, which could lead to the Indian government looking at new markets closer to home to support its trade. China in particular has emerged as a potential partner. So what could this mean for trade in the region in the months and years ahead?
US tariffs threaten a warming relationship
The relationship between the US and India had been warm in recent years. In president Donald Trump's first term, he addressed over 125,000 people at a rally in Ahmedabad during an official visit, while Indian president Narendra Modi was one of the first world leaders to visit Washington following the start of Mr Trump's second term earlier this year.
However, recent events have challenged this, in particular the imposition of 50 percent tariffs on Indian imports to the US last month. Mr Trump has cited New Delhi's continued purchases of oil from Russia as a reason for the sanctions - and has reportedly been pressuring allies in Europe to impose similar measures.
US Commerce Secretary Howard Lutnick has also criticized India's trade practices, saying last week that despite having a population of 1.4 billion people, it has not purchased "one bushel of US corn".
As a result of these trade tensions, many have suggested India will look elsewhere for partners - with China highlighted as a key target.
Could China summit indicate a new focus for Asian trade?
Indeed, Mr Modi's presence in Tianjin for the Shanghai Cooperation Organization (SCO) summit last month alongside Chinese premier Xi Jinping and Russian president Vladimir Putin has fueled suggestions of closer economic and trade partnerships between the three countries, with Mr Xi saying India and China should be partners, not rivals.
Chinese ambassador to India Xu Feihong has also spoken out against the US tariffs, saying: "China firmly opposes it. Silence only emboldens the bully."
While the tariffs in India may have spurred New Delhi towards a rapprochement, some commentators have also noted the benefits to Beijing of alternatives to the US.
Yu Jie, a senior research fellow on China at Chatham House, told the Washington Post: "Overall, China is seeking to stabilize relations with neighboring countries amid a more volatile relationship with the US. De-escalating tensions with India has been the most successful effort made by Beijing so far."
For now, the warmer India-China relations have yet to lead to concrete agreements to boost trade - while some commentators have suggested it may be largely symbolic in an effort to get the US to return to the table.
Will new talks offer a reset for trade in Asia?
Some tension still remains between the two countries, with many issues to be resolved. Disputes along the shared India-China border, for example, continue to strain the relationship. Meanwhile, export controls imposed by Beijing on rare earth minerals that are critical for Indian manufacturing sectors such as automotive remain a challenge. The Washington Post noted at least 50 licenses from Indian carmakers remain pending.
While it may take time to resolve such issues, this does also offer opportunities for a thaw in India-US relations. This week, initial talks have taken place between the two sides in Delhi. While not an official round of trade discussions, it has raised hopes of a restart of negotiations on a bilateral agreement that could cut tariffs.
However, the main sticking point continues to be the 25 percent tariffs imposed in response to Russian oil purchases. Indeed, one report this week from the Global Trade Research Initiative think tank said: "Negotiations will remain slow unless Washington signals genuine flexibility."
It added: "The challenge will be how much India concedes without undermining regulatory autonomy or economic sovereignty."