Washington, Apr 9 (AP): Facing a global market meltdown, President Donald Trump on Wednesday abruptly backed down on his tariffs on most nations for 90 days, but raised his tax rate on Chinese imports to 125 per cent.

It was seemingly an attempt to narrow what had been an unprecedented trade war between the US and most of the world to one between the US and China.

Global markets surged on the development, but the precise details of Trump's plans to ease tariffs on non-China trade partners were not immediately clear.

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Jeddah: Indian Prime Minister Narendra Modi, made an important visit to Saudi Arabia, reaffirming the strong bonds between the two nations. As part of his diplomatic outreach, PM Modi engaged with prominent Indian business leaders based in the Kingdom, acknowledging their pivotal role in fostering economic growth and bilateral cooperation.

Among the key participants at the high-level meeting were Ashif Karnire, Chief Executive Officer of Expertise Group, and Anshif Karnire, Chief Strategy Officer, who met Prime Minister Modi during his visit. Their presence underscored the dynamic entrepreneurial contributions of the Indian diaspora to Saudi Arabia’s evolving economic landscape.

Other notable Indian business leaders in attendance included Yusuf Ali, Managing Director of Lulu Hypermarket, and Alisha Moopen, Group CEO of Aster Healthcare both represent influential enterprises that have played integral roles in the Kingdom's development across retail and healthcare sectors.

During the discussions, the leaders explored the significant contributions of the Indian community to Saudi Arabia, acknowledging their influential roles in the local economy.