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India Today
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May consider dividends to citizens: Trump on tariff revenue disbursal plans
The day the 25 per cent US tariffs on Indian imports came into effect, President Donald Trump said he might consider extending the "dividends" earned through the levies imposed on America's trade partners to its citizens, news agency Reuters reported on the Trump tariff tirade, while most European Union member countries and the UK were hit with 15 per cent levies, Japan with 10 per cent, and South Korea with just 5 per cent, India saw a 25 per cent blanket rate imposed on its products imported by the US. The US cited exponentially high tariffs by India on American products behind its Trump imposed a 35 per cent duty on many goods from Canada, 50 per cent on Brazil, 39 per cent on Switzerland and 20 per cent on Taiwan. Notably, Trump has signed a new executive order that imposes fresh import tariffs on goods from 69 countries and the European Union, which will come into effect on August per the order, Syria tops the list of highest tariffs at 41 per cent, followed by Laos and Myanmar at 40 per cent, and Iraq and Serbia at 35 per cent. Other countries such as Libya and Algeria will now face a 30 per cent China, against whom Trump once ordered tariffs as high as a whopping 145 per cent, is still negotiating with the US, with American officials saying that they are looking at an imminent trade deal. "But it is not 100 per cent done," US Treasury Secretary Scott Bessent told CNBC move is part of Trump's push for what he describes as more "fair and reciprocal" trade relationships. The White House said that some countries had failed to meet US expectations during trade talks, leading to these new Trump's tariff move and the deadline, global stock markets witnessed a slump as investors panicked, fearing a global supply chain disruption and the outcome of their talks with who had grown accustomed to Trump's frequent trade threats may now be facing a reality check, as broad tariffs on numerous countries have taken effect just as the deadline to negotiate trade agreements with the US passed without resolution.- EndsTune InMust Watch
Time of India
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Indian Express
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Three Intel senior executives to retire amid manufacturing shake up
Three senior executives in Intel's manufacturing operations are set to retire, Intel told Reuters on Thursday, as new CEO Lip-Bu Tan implements sweeping change to resuscitate the struggling U.S. chipmaker. Intel told staff on Tuesday that corporate vice presidents in the technology development group, Kaizad Mistry and Ryan Russell, would retire, as would Gary Patton, corporate vice president at its Design Technology Platform organization and a former IBM executive. Intel also discussed changes to the technology development group, which is responsible for creating manufacturing processes, said two people briefed on the matter. The chipmaker plans to reduce its manufacturing capacity planning team and cut a portion of its engineering team, the people said. Intel declined to comment on the changes. Manufacturing operations are led by former Micron Technology executive Naga Chandrasekaran, who was hired about a year ago by then-CEO Pat Gelsinger. Chandrasekaran's responsibility expanded in March as he took over technology development and manufacturing. He has since reorganized staff under him, including layoffs as part of global cutbacks. When Intel announced its quarterly financial results last week, CEO Tan, who assumed the role in March, set a goal of slashing the chipmaker's workforce to 75,000 people by year-end, a reduction of around 22%. Intel also vowed to take a more disciplined approach to manufacturing investment. Intel said its next-generation 14A manufacturing process depends on securing a new, significant customer, otherwise it could suspend or terminate development. 'We're developing Intel 14A … from the ground up in close partnership with large external customers,' Tan said in a memo released with the financial results. 'Going forward, our investment in Intel 14A will be based on confirmed customer commitments.' Tan also told investors that Intel's 18A process could only generate a reasonable return if it is used for in-house products. Tan has debated whether to stop offering 18A technology to external customers to focus on 14A, Reuters reported in July. Intel plans to ramp to high-volume manufacturing its Panther Lake PC chips this year using its 18A manufacturing process.
