SpaceX set for boost as Trump cuts ‘outdated' rocket launch regulations
Although the billionaire entrepreneur Elon Musk and Trump have been publicly feuding for months, SpaceX is likely to be the single biggest immediate beneficiary. The company dominates the US launch sector — outpacing even NASA — and Musk has long complained that environmental reviews and post-flight mishap probes have delayed testing of SpaceX's massive Starship rocket at its South Texas site.SpaceX was not mentioned by name in the order, but the policy shift is expected to benefit other private space companies too, as Washington seeks to ensure American dominance in the global space economy.- EndsWith inputs from Reuters
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First Post
26 minutes ago
- First Post
Ukrainians slam Trump-Putin summit as meaningless amid daily Russian strikes
Ukrainians reacted with frustration and scepticism to the high-profile Alaska summit between Donald Trump and Vladimir Putin, calling it a 'useless' meeting that sidelined Kyiv. US President Donald Trump looks on next to Russian President Vladimir Putin during a press conference following their meeting to negotiate an end to the war in Ukraine, at Joint Base Elmendorf-Richardson, in Anchorage, Alaska. Reuters Pavlo Nebroev stayed up until the middle of the night in Ukraine's northeastern city of Kharkiv to wait for a press conference between Donald Trump and Vladimir Putin thousands of kilometres away. The US and Russian leaders had met in Alaska to discuss Russia's more than three-year invasion of his country. But they made no breakthrough and seen from Kharkiv – heavily attacked by Russia throughout the war – the red-carpet meeting looked like a clear win for Putin. STORY CONTINUES BELOW THIS AD 'I saw the results I expected. I think this is a great diplomatic victory for Putin,' Nebroev, a 38-year-old theatre manager, said. 'He has completely legitimised himself.' Trump inviting Putin to the US ended the West's shunning of the Russian leader since the 2022 invasion. Ukraine's leader Volodymyr Zelenskyy, who was not invited, described the trip as Putin's 'personal victory'. Nebroev, like many Ukrainians, was gobsmacked the meeting could take place without representatives of his country. 'Useless' 'This was a useless meeting,' he said, adding: 'Issues concerning Ukraine should be resolved with Ukraine, with the participation of Ukrainians, the president.' Trump later briefed European leaders and Zelenskyy, who announced he would meet the US leader in Washington on Monday. The Trump-Putin meeting ended without a deal and Trump took no questions from reporters – highly unusual for the media-savvy US president. Olya Donik, 36, said she was not surprised by the turn of events as she walked through a sunny park in Kharkiv with Nebroev. 'It ended with nothing. Alright, let's continue living our lives here in Ukraine,' she said. Hours after the talks, Kyiv said Russia attacked with 85 drones and a ballistic missile at night. STORY CONTINUES BELOW THIS AD 'Whether there are talks or not, Kharkiv is being shelled almost every day. Kharkiv definitely doesn't feel any change,' said Iryna Derkach, a 50-year-old photographer. She had stopped for the daily minute of silence held across the country to honour the victims of the Russian invasion. 'We believe in victory, we know it will come, but God only knows who exactly will bring it about,' she said. 'Pouring water' Derkach, like many Ukrainians, was suspicious of Trump. 'We do our job and don't pay too much attention to what Trump is doing,' she added. In Kyiv, 30-year-old cosplayer Kateryna Fuchenko, also worried that the American president was not a real ally of Ukraine. 'I don't think he is for Ukraine,' she said, criticising Trump for acting as if he was 'buddies' with Putin. 'They just poured water from empty to empty, back and forth, as always,' she said characterising the talks as meaningless, doubting they achieved 'anything.' Kyiv pensioner Volodymyr Yanukovych said he expected Russia to 'fire as they fired' on Ukraine's capital, which has seen a number of deadly attacks this summer. STORY CONTINUES BELOW THIS AD Pharmacist Larysa Melnyk did not think her country was any closer to seeing peace. 'I don't think there will be a truce,' she told AFP, adding that even if the guns fall silent, it will only be temporarily. Russia has historically 'unleashed such major conflicts', the 25-year-old said, pointing to the 2008 war in Georgia. She asked: 'Why does nobody react to this?'
Mint
26 minutes ago
- Mint
Trump tariffs could hit 70% of India's goods exports: Here's what ICRIER recommended to mitigate the impact
Around 70 per cent of India's goods exports to the US, valued at $60.85 billion, are now exposed to the 50 per cent tariff imposed by the US administration, according to an analysis by ICRIER, a economic policy think tank. This is a significant concern for key Indian sectors, although it represents just 1.56 per cent of GDP and 7.38 per cent of total exports, which is far from a catastrophe for India's $3.9 trillion economy. The report by the Indian Council for Research on International Economic Relations, titled 'Navigating Trump's Tariff Blow' outlines the specific challenges posed by these tariffs on several Indian sectors, along with recommending ways to deal with them, ANI said. The US administration, led by President Donald Trump, initially imposed a 25 per cent tariff on Indian goods. This was later increased by another 25 per cent to a total of 50 per cent, a decision reportedly linked with India's continued imports of Russian oil. In contrast to India, competitors such as Vietnam (20 per cent), Bangladesh (18 per cent), Indonesia, Malaysia, and the Philippines (19 per cent), and Japan and South Korea (15 per cent) enjoy lower rates, as per an ANI news report. The impact of the US tariff is heavily concentrated in labor-intensive and high-value sectors, which not only anchor the merchandise exports to the US but also directly affect employment generation and the livelihoods of millions of workers and farmers. These sectors include: Textiles and apparel: This sector now faces a tariff disadvantage of over 30 percentage points compared to rivals like Bangladesh, Pakistan and Vietnam, threatening its competitive position in a key export market. Gems and jewelry: With exports to the US worth $11.9 billion, this sector faces similar challenges against suppliers such as Turkey, Vietnam, and Thailand. Auto parts: Constituting 3 per cent of India's exports to the US, this sector is also vulnerable. Agricultural products: Shrimp exports will be worst hit as 50 per cent tariffs come on top of existing anti-dumping and countervailing duties that India faces, making them uncompetitive with exports from Ecuador, Indonesia, and Vietnam. "These are sectors where buyers can switch sourcing relatively quickly, which gives US importers bargaining power and weakens India's negotiating position," the report said. However, it's important to note that the new US tariff regime excludes pharmaceuticals, energy products, critical minerals, and semiconductors. To mitigate the negative effects of the tariffs, the ICRIER report proposes a three-pronged strategic response for India: Smart negotiations: Engage in logical and rational negotiations with the US to find a mutually agreed resolution. Targeted relief: Provide immediate and targeted relief support to the hard hit sectors to help them deal with the tariff related losses. Trade diversification: On high priority, it's crucial to diversify export markets to reduce dependency on the US and build long-term resilience. President Donald Trump has imposed 'reciprocal tariffs' on dozens of countries with which the US has a trade deficit. Since assuming office for his second term, Trump has reiterated his stance on tariff reciprocity, emphasizing that his administration will match tariffs imposed by other countries, including India, to "ensure fair trade". Post that, India and the US initiated talks for a just, balanced, and mutually beneficial Bilateral Trade Agreement (BTA) in March this year, with an objective to complete the first stage of the Agreement by October-November 2025. Faced with tariffs, during the ongoing Monsoon session of Parliament, Commerce and Industry Minister Piyush Goyal said in a statement that the government is examining the impact of tariffs and will take all necessary steps to safeguard the nation's interest, the ANI news report said. On India's import of crude oil from Russia, the Ministry of External Affairs (MEA) made its position clear, stating that India's imports are meant to ensure the disbursal of affordable energy to the Indian consumer. MEA also said that the targeting of India is "unjustified and unreasonable".
Hindustan Times
26 minutes ago
- Hindustan Times
H1-B visa hiring: Major revelation about firms recruiting foreign workers; ‘Americans are not aware that…'
Employers of H-1B foreign workers applying for green cards are obligated to post job openings to American-born workers. However, it is being reported that local newspaper job postings are directed toward immigrants. Employers hiring H-1B workers must post jobs for American candidates, but reports suggest local newspapers favor immigrant applicants(PTI) In recent months, the San Francisco Chronicle has published job openings for prestigious tech firms like OpenAI and Instacart, advising applicants to submit their resumes to the 'global mobility' or immigration offices. Here's what US Department of Labor says According to the Department of Labor, positions must be advertised openly, including in at least two prominent Sunday newspapers such as Chronicle's Sunday edition. Employers must also post job openings internally at the organisation, on a state workforce agency website, and through two other advertising channels of their choice. 'Americans are not aware that major companies are routinely discriminating against them for the simple fact of being Americans in their own country,' stated the group behind a website that searches for H-1B positions to share them with Americans, Newsweek reported, citing anonymous sources. In light of the recent steep increase in college graduate unemployment, it is critical to address hiring discrimination that may continue to keep Americans out of work, they added. Also Read: US scraps interview waiver program for H1-B and other visa holders; How it will impact you from September 2 - Explained H-1B visa workers vs American residents: A look at current conflict The potential trend once again draws attention to work-based visas, particularly the H-1B, which are advantageous to tech companies. It also highlights the ongoing conflict between the need for immigrant workers and whether or not businesses are hiring cheaper labor from abroad rather than hiring Americans or permanent residents. OpenAI posted job openings for a software engineer in the San Francisco Chronicle, asking candidates to submit their credentials to a member of the 'global mobility team,' as per Newsweek. While Instacart offered several roles, with a similar department accepting applications, Udemy, a platform for online education, sought a director of marketing analytics and data science, directing candidates to send their resumes to 'immigration@ Are US firms violating H-1B regulations? While it is not mandatory for employers to post job openings for US citizens before recruiting an H-1B worker, there are regulations around the so-called PERM procedure, which is the process by which employers seek to sponsor an immigrant for a green card. They are supposed to demonstrate to the Department of Labor that the current H-1B holder is essential for the role required and it cannot be filled with an American worker. team claims that workers are manipulating the regulations to their advantage by posting the jobs at newspapers and avoiding online listings, Newsweek reported. Such cases are being reported despite the fact that the Department of Justice under former President Joe Biden reached historic settlements with Apple and Facebook about their advertising practices in 2021 and 2023.
