Trump imposes 25pct tariff on Indian goods, criticises ties with Russia
Writing on his Truth Social platform, Trump described India as a
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New Straits Times
38 minutes ago
- New Straits Times
Trump says there could be distribution of money from tariff revenues
NEW YORK: US President Donald Trump on Sunday said some Americans could get some kind of dividend or distribution of money as a result of tariffs being imposed on US trading partners. "There could be a distribution or a dividend to the people of our country, I would say for people that would be middle income people and lower income people, we could do a dividend," Trump told reporters before boarding Air Force One after leaving his golf club in New Jersey.
The Star
38 minutes ago
- The Star
Asian markets fluctuate as traders weigh tariffs, US jobs
HONG KONG: Asian markets flitted between gains and losses Monday (Aug 4) as investors continued to digest last week's tariff blitz by Donald Trump and a US jobs report that fanned fears about the world's top economy. News on Friday that dozens of countries would be hit with levies ranging from 10 to 41 per cent sent shivers through exchanges amid concern about the impact on global trade. With the date of implementation pushed back to Thursday, focus will be on talks between Washington and other capitals on paring some of the tolls back. The pain was compounded later by figures showing the US economy created just 73,000 jobs in July - against 104,000 forecast - while unemployment rose to 4.2 per cent from 4.1 per cent. Job gains from June and May were also revised down by nearly 260,000. The figures stoked concerns that Trump's tariffs are beginning to bite, with inflation also seen pushing back towards three per cent. The reading also saw the president fire the commissioner of labour statistics, accusing her of manipulating employment data for political reasons. Bets on the Federal Reserve cutting interest rates at its September meeting shot up following the jobs numbers, with some analysts predicting it will go for a 50-basis-point reduction, rather than the regular 25 points. Yields on US Treasury bonds fell sharply as investors priced in the cuts. Investors will now be keenly awaiting every utterance from Fed boss Jerome Powell leading up to the next policy meeting, not least because of the pressure Trump has put on him to lower rates. Observers said news that governor Adriani Kugler will step down from the bank six months early will give the president a chance to increase his influence on decision-making. "Fed credibility, and the veracity of the statistics on which they base their policy decisions, are both now under the spotlight," said National Australia Bank's Ray Attrill. "Fed officials, such as New York President John Williams speaking after the data, profess to be open minded about the September Fed meeting, but Mr Market has already decided they are cutting -- ending Friday 88 per cent priced for a 25-basis-points rate reduction." Still, Asian investors tried to get back on the horse after Friday's selloff, with Hong Kong, Shanghai, Singapore and Seoul up, while Tokyo, Sydney, Wellington, Taipei, Manila and Jakarta were all down. The performance was better than New York, where the S&P 500 and Dow each lost more than one percent and the Nasdaq more than two per cent -- with some also questioning whether a recent rally to multiple records has gone too far. The dollar edged up but held most of its losses against its peers after tanking on the jobs report. And oil extended Friday's losses of almost three per cent, which came after OPEC and other key producers agreed another output hike, fanning oversupply fears owing to the effects of Trump's tariffs and signs of a weakening economy. - AFP
The Star
38 minutes ago
- The Star
Fujifilm raises camera and lens prices in the US amid tariffs
Camera bodies, which are popular with creators and professionals on account of their film simulations and unique color rendering, are now US$200 (RM847) more expensive than they were on last Thursday evening. — Pixabay Fujifilm Holdings Corp raised US prices for the majority of its digital cameras and lenses last Friday, in some cases by hundreds of dollars, as President Donald Trump's tariffs continue to reverberate across the consumer tech industry. Many of the company's camera bodies, which are popular with creators and professionals on account of their film simulations and unique color rendering, are now US$200 (RM847) more expensive than they were on last Thursday evening. For instance, Fujifilm's premier consumer camera, the X-T5, sold for US$1,699 (RM 7,196) earlier but now costs US$1,899 (RM 8,043) , a 12% bump. Fujifilm did not respond to an emailed request for comment. The company is headquartered in Japan, which is subject to a baseline 15% tariff under a deal that the Trump administration struck with the country last month. Fujifilm subsequently relocated manufacturing for a few camera models from China to Japan; during that time, the prices remained stable. Other consumer hardware makers have also raised prices in recent months, including Kyoto-based Nintendo Co, which earlier announced a US price increase for the original Switch handheld games console, citing "market conditions.' Fujifilm is the fourth-largest camera maker behind Canon Inc, Sony Group Corp and Nikon Corp, according to market research firm Techno Systems Research. But the brand's products often stir an outsized buzz on social media among tech enthusiasts. Its X100 series went viral on TikTok during the Covid pandemic and has consistently been on backorder at most retailers since then. The latest model in that lineup, the X100VI, has risen to US$1,799 (RM7,620) with the latest price changes – up from US$1,599 (RM6,772). As for the other major camera manufacturers, Canon, Sony and Nikon already raised prices for a number of products earlier this year. Smaller players like Sigma have also given in after months of global tariff anxiety; that brand increased the cost of its lenses by around 10% in June, the photography outlet PetaPixel reported at the time, but the company told retail partners it's not planning another hike despite the new 15% rate levied on Japan. Fujifilm's most recently announced mirrorless camera, the X-E5 unveiled in June, has not undergone any price adjustments. That product is scheduled to ship later in August. The X Half, a compact, lightweight model the company introduced this year to attract more Gen Z customers, has also maintained its US$850 (RM3,600) price for the time being. – Bloomberg
