Treasury Secretary Steven Mnuchin announced Sunday that Trump administration will hold off from imposing tariffs on China as leaders from both nations try to hammer out agreements on trade.

Amazon Prime Day is fast becoming one of the best shopping days of the year, with fantastic bargains rivalling the massive savings we see on Black Friday. In 2017, it was bigger and better than ever with a total of 30 hours of savings to be had. Discounts included the Philips Hue lighting range, Samsung TVs and Amazon’s own AI speaker, the Amazon Echo. Prime Day 2018 is expected to be bigger, better, and perhaps longer than last year's event. So what can you expect from this year's shopping bonanza? We're here to tell you everything you need to know about Amazon's summer event.

Walmart on Wednesday announced a $16 billion deal to purchase 77 percent of the Indian e-commerce service Flipkart as part of its strategy to capture a piece of a fast-growing and increasingly tech-savvy market. The Flipkart deal, one of the largest and riskiest in Walmart’s history, follows a pattern of purchases over the past 18 months that includes a men’s clothing brand and a delivery start-up.

Amazon and Walmart are going head-to-head and experts speculate that the two companies will bankroll the Indian market. Amazon India has made efforts to take over Flipkart, India’s domestic e-commerce giant. In 2017,Amazon invested US$2.7 billion into its Amazon India Seller Services branch injecting support for local SMEs. In the same year, it also doubled its authorized capital to US$4.74 billion.

Apr 12, Amazon said Indian merchants who are part of its global selling programme can now sell products on its Australian marketplace.With the addition of Australia,Indian sellers can now sell on 11 of Amazon's international marketplaces,including the US, the UK,Japan,Canada and France.

Companies including Amazon and Ebay have agreed to give their data to HMRC in an effort to crack down on value added tax (VAT) evasion by overseas retailers. The surprising news is that HMRC and the government have revised their estimates of how much VAT evasion is down to Chinese and other overseas sellers. Having estimated that between £1 billion and £1.5 billion is lost to overseas sellers, they now reckon that as much as 40% of the total VAT evasion could be due from UK sellers.

Opening the global market for Indian vendors, Amazon India has now launched its B2B selling programme allowing Indian sellers and exporters to sell their products and services abroad as well. The programme will get the sellers in front of decision makers of Fortune 500 companies, as well as medium and small corporations across the world.

"This is the first of many" trade actions, Trump said as he signed the memo.President Donald Trump signed an executive memorandum on Thursday that would impose retaliatory tariffs on up to $60 billion in Chinese imports.

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