Live Q&A: Trump Turns Up Heat on India — What It Means for Trade, Russia and Modi's Foreign Policy
Join Bloomberg's Menaka Doshi, Daniel Ten Kate, Sudhi Ranjan Sen and Shawn Donnan for a Live Q&A as they unpack what's behind the dramatic reversal in US–India relations and the risk of lasting diplomatic damage. Tune in on Thursday, Aug. 7 at 8:30a.m. ET/ 6p.m. IST. Bloomberg digital subscribers and Terminal clients have the exclusive opportunity to ask our team live questions. This conversation will be recorded and be made available to listen and share.
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Trump reportedly signs order granting another 90-day extension on harshest China tariffs
President Trump on Monday signed an executive order implementing another 90-day pause on additional tariffs on China that were set to take effect on Tuesday, reports said. The move again pushes off a deadline for imposing the harshest taxes on Chinese imports as the two sides continue negotiations on a deal. Reports from CNBC, The Wall Street Journal, and The Washington Post all said the president had signed the order, which will push the deadline for these tariffs back to Nov. 9. The White House didn't immediately respond to a request for comment. The extension appears to mean that headline rates agreed to in May of 30% on Chinese imports and 10% on American goods will continue for the immediate future and avoid a snap-back to previous triple-digit levels. Sector-specific tariffs on goods like steel and some medical supplies will keep the effective tariff rate between the two countries higher. The reported tariff agreement also comes amid an increased focus from Trump in recent days on Russia and the war in Ukraine, with Trump putting an additional 25% tariff on imports from India over that nation's consumption of Russian oil. The new pause could also increase the odds for a meeting later this year between Presidents Trump and Xi. The two men's teams have both floated the concept of a face-to-face meeting, perhaps as soon as the coming Asia-Pacific Economic Cooperation summit in South Korea at the end of October. Monday's announcement also came after three meetings of the two trade teams in recent months — gatherings that took place in Geneva in May, London in June, and Stockholm in July — resulted in signs of progress though tensions remain between the two sides. He Lifeng, China's vice premier for economic policy, has represented his country at all three meetings. A representative for He — Chinese trade negotiator Li Chenggang — said after the most recent round in Sweden that the two sides had 'candid exchanges over their economic concerns,' according to a translation. Certain issues like semiconductors, including a plan to allow the resumption of Nvidia's (NVDA) AI chip exports to China, as well as Chinese exports of rare earth minerals have been most in focus of the talks so far with a long list of issues between the two nations still to discuss. Over the weekend, the Trump administration struck a deal with Nvidia and AMD to allow those chipmakers to sell some chips into the Chinese market in exchange for a 15% cut of the sales.
Yahoo
10 minutes ago
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Yahoo polls: How are Canadians responding to the latest U.S. Trump tariffs on the country?
Have your say: In this Yahoo News Canada poll, we ask Canadians to share how the Trump tariffs are shaping their travel and shopping choices This summer, Canadians find themselves grappling with a bit more than just the end-of-season and back-to-school rush. As trade discord with the U.S. continues to dominate headlines, changes in household habits abound. Escalating tensions over Trump tariffs have resulted in a surge of cultural and economic responses including impacts on travel, shopping and Labour Day long weekend plans. Yahoo News Canada wants to hear from you! How is the moment weighing on your pride and prudence? Are you boycotting U.S. products in favour of local businesses? We want you to have your say. Are you planning any U.S. travel this month? Canadian travel to the U.S. has seen a decline owing to the political tensions between the two nations, with trips plummeting dramatically and flight bookings cut significantly. Instead of flying down south, Canadians are picking Europe, Latin America or even opting for Canadian locales for their getaways. Flight bookings to Europe recently witnessed a surge while travel the U.S. continued to lag. Are you opting for products made in Canada over imported goods? Surveys from the last few months reveal Canadian attitudes toward the U.S. have only soured over time as Trump intensified his tariff attacks on Canada. By February 2025, approximately two-thirds of Canadians had reduced their purchases of American products, both in stores and online, according to a Leger poll. More than halfway through the year, that trend has only grown among Canadians, according to a July Ipsos poll. However, affordability continues to matter to Canadian shoppers looking to buy local goods. A recent report from PwC Canada found that while Canadian consumers are willing to pay a premium for locally produced food, a majority would ultimately choose a lower-priced imported product over a more expensive domestic equivalent. Canada and U.S. trade tariff jabs U.S. President Donald Trump's recent round of tariff increase saw Canada's share escalate to 35 per cent on various goods from Aug. 1. This came after Trump sharply raised tariffs on Canadian exports in the spring of 2025 — imposing 25 per cent duties on steel, aluminium and auto parts before slapping another increase in summer. Canada continues to have its retaliatory tariffs on $30 billion worth of U.S. goods in place to defend its industries. Regardless of the ongoing friction, the USMCA continues to shield most of the Canadian exports from tariffs, Prime Minister Mark Carney's says. Damage from the trade standoff was strongly felt across Canada's manufacturing sector with the jobs market shedding 41,000 positions in July and analysts calling for an additional 10,000 jobs last month. Are you travelling this Labour Day weekend?
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Carney and Zelenskyy speak ahead of Trump-Putin summit in Alaska
Prime Minister Mark Carney and Ukrainian President Volodymyr Zelenskyy spoke by phone Monday, reaffirming their agreement that Ukraine must be a party to any discussions about a possible end to the war in that country. Speaking in advance of the Friday meeting in Alaska between U.S. President Donald Trump and Russian President Vladimir Putin, Carney and Zelenskyy welcomed Trump's leadership in working toward a lasting peace for Ukraine. "The two leaders underscored that decisions on the future of Ukraine must be made by Ukrainians [and] international borders cannot be changed by force," said a statement detailing the discussion that was released by the Prime Minister's Office. The statement also said Ukraine's allies must continue to keep pressure on Russia to end its aggression and that any peace deal must include a "robust and credible" security guarantee. Trump announced in a social media post on Friday that he would be meeting with Putin in Alaska on Aug. 15. Russia, which launched a full-scale invasion of Ukraine in February 2022, now holds nearly a fifth of the country. In addition to Crimea, which it seized in 2014, Russia has formally claimed the Ukrainian regions of Luhansk, Donetsk, Kherson and Zaporizhzhia as its own, although it controls only about 70 per cent of the last three. Russia also holds smaller pieces of territory in three other regions, while Ukraine says it holds a sliver of Russia's Kursk region. Zelenskyy could attend second meeting, says Trump "I am grateful for Canada's support for Ukraine and our people," Zelenskyy said in a social media post after speaking with Carney. "We agreed that no decisions concerning Ukraine's future and the security of our people can be made without Ukraine's participation." Zelenskyy expressed skepticism that Putin genuinely intends to end his invasion of Ukraine, saying it's obvious "the Russians simply want to buy time." The Ukrainian president said that until his country is invited to the negotiating table and Kyiv is given security guarantees, "sanctions against Russia must remain in force and be constantly strengthened." Trump told a White House news conference Monday that his Friday meeting with Putin will be a "feel-out meeting" to gauge whether the Russian president is really willing to make a deal. "So I'm going in to speak to Vladimir Putin, and I'm going to be telling him; 'you've got to end this war. You've got to end it,'" Trump told reporters. Trump also said a future meeting between himself and Putin could include Zelenskyy. He said he would speak to European leaders soon after his talks with Putin and that his goal was a speedy ceasefire in the bloody conflict.
