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Why Trump is threatening India with 50% tariffs

Why Trump is threatening India with 50% tariffs

CNNa day ago
Why Trump is threatening India with 50% tariffs
In addition to Trump's 25% reciprocal tariffs set to take effect on Thursday, President Trump announced an additional 25% tariff to punish India for importing Russian oil and gas. CNN's Phil Mattingly explains why the Trump Administration is playing hardball with the world's fifth largest economy and one of America's most important trading partners.
01:35 - Source: CNN
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Why Trump is threatening India with 50% tariffs
In addition to Trump's 25% reciprocal tariffs set to take effect on Thursday, President Trump announced an additional 25% tariff to punish India for importing Russian oil and gas. CNN's Phil Mattingly explains why the Trump Administration is playing hardball with the world's fifth largest economy and one of America's most important trading partners.
01:35 - Source: CNN
Apple CEO gifts Trump plaque with 24K gold base
Apple CEO Tim Cook gifted President Donald Trump a plaque made of glass manufactured in Corning's Harrodsburg, Kentucky, which he announced would be the cover glass on all iPhones and Apple Watches soon.
01:01 - Source: CNN
Suspected Fort Stewart shooter identified
The man suspected of opening fire at Fort Stewart has been identified as Quornelius Radford, according to Brig. Gen. John Lubas, the commanding general of the 3rd Infantry Division. The suspect is alive and in custody, a law enforcement official told CNN.
01:09 - Source: CNN
US special envoy Witkoff meets Putin in Russia
US special envoy Steve Witkoff met with Russian President Vladimir Putin on Wednesday, as President Donald Trump threatened to impose punishing new sanctions on Russia. The meeting, which lasted around 3 hours, was described as 'constructive and useful' by Kremlin aide Yuri Ushakov, according to Russian state media TASS. CNN's Frederik Pleitgen reports.
01:49 - Source: CNN
Texas Democratic lawmaker responds after Abbott tries to remove him from office
Texas Gov. Greg Abbott (R) asked the state Supreme Court to remove Rep. Gene Wu (D) from office. Wu is one of 50 quorum-breaking Democratic House members who fled the state to forestall a vote on new congressional maps, and he responded to Abbott's move on AC360.
00:38 - Source: CNN
Trump asked if he knew about Maxwell's prison transfer
President Donald Trump told CNN's Kaitlan Collins he wasn't aware of Ghislaine Maxwell's prison transfer, and praised Deputy Attorney General Todd Blanche when asked if he thought Ghislaine Maxwell is a credible witness.
01:46 - Source: CNN
Texas lawmaker says he's willing to risk arrest or fines
Texas state Rep. Ramón Romero said that he is willing to be arrested after he and other Democratic lawmakers left the state to block GOP redistricting efforts. The Texas House speaker said he signed civil arrest warrants for absent Democrats, and the governor ordered state officials to arrest them. But legal experts say the warrants are likely unenforceable outside state lines.
00:39 - Source: CNN
Suspect arrested in Tennessee killings case
The suspect in the killings of four relatives of a baby found abandoned last week has been arrested after a weeklong manhunt across rural Tennessee, according to police in Jackson.
00:49 - Source: CNN
US Coast Guard releases new report on Titan submersible implosion
The implosion of OceanGate's Titan submersible, which killed five people in 2023, was a preventable tragedy caused by OceanGate's failure to follow safety protocols and a toxic workplace culture, according to a report released by the US Coast Guard Marine Board of Investigation.
01:07 - Source: CNN
GOP congressman met with boos and jeers at town hall
Rep. Mike Flood (R-NE) was met with boos and jeers after his answer about funding for migrant detention facilities and ICE during a town hall in Lincoln, Nebraska.
01:43 - Source: CNN
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Gold futures in New York surge as tariff confusion sweeps precious metal market
Gold futures in New York surge as tariff confusion sweeps precious metal market

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Gold futures in New York surge as tariff confusion sweeps precious metal market

Gold (GC=F) futures in New York hit intraday record highs on Friday amid reports that imports of Swiss gold bars would not be exempt from tariffs. The precious metal hit $4,490 per ounce on the Comex exchange after the Financial Times reported one-kilogram and 100-ounce bars of gold are indeed subject to 39% reciprocal tariffs on Switzerland recently announced by the Trump administration. "The move is significant because 1-kilo and 100-ounce gold bars form the backbone of much of the gold trading activity in the United States," Ryan McIntyre, senior managing partner at investment manager Sprott, told Yahoo Finance. McIntyre said contracts on the Comex exchange in New York are based on 100-ounce bars, noting "the introduction of tariffs will likely inject additional uncertainty into that market." The clarification from Customs and Border Patrol, also reported by Bloomberg, sent gold futures in New York skyrocketing as traders assessed the implications on transfers of the precious metals and how the futures market could be reshaped. "Likely imposing 39% tariffs on Swiss kilobars is akin to pouring sand into an otherwise well functioning engine," wrote Ross Norman, CEO of UK-based Metals Daily. Traders are still weighing whether the steep tariffs on Swiss kilo-bars reflect a real policy shift or a possible misclassification error. "On a broader scale, the gold market is highly liquid and global, meaning we would expect gold flows to adjust in ways that minimize disruptions," McIntyre said. Gold inventories in New York skyrocketed earlier this year as institutional investors shipped elevated amounts of physical bars to vaults in Manhattan ahead of tariff announcements. In late March inventories reached their highest level since the pandemic in 2021, according to Bloomberg data. Ines Ferre is a senior business reporter for Yahoo Finance. Follow her on X at @ines_ferre. Click here for in-depth analysis of the latest stock market news and events moving stock prices Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

The Street Loves This ‘Strong Buy' Pharma Stock
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Sublocade works by steadily releasing buprenorphine into the bloodstream, helping to reduce cravings and withdrawal symptoms associated with opioid dependence. More News from Barchart Robinhood Stock Seemingly Can't Be Stopped in 2025. Is It Too Late to Buy HOOD Here? Dear Ford Stock Fans, Mark Your Calendar for August 11 Cathie Wood Is Buying Shares of This Little-Known Ethereum Treasury Company. Should You? Our exclusive Barchart Brief newsletter is your FREE midday guide to what's moving stocks, sectors, and investor sentiment - delivered right when you need the info most. Subscribe today! What I'm Watching I found today's Chart of the Day by using Barchart's powerful screening functions to sort for stocks with the highest technical buy signals; superior current momentum in both strength and direction; and a Trend Seeker 'buy' signal. I then used Barchart's Flipcharts feature to review the charts for consistent price appreciation. INDV checks those boxes. 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On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

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