Two Sharp with ET: Trump's 50% metal tariffs to hurt Indian exports?
In today's episode of our daily business brief Two Sharp with ET, Nisha Poddar decodes US President Trump's move to double tariffs on steel and aluminium imports to 50%, targeting global exporters and sparking alarm across India's manufacturing hubs. With $4.5 billion at stake in Indian exports, analysts warn of job losses, demand shocks, and trade diversion. While the UK secured an exemption, India eyes a similar waiver amid ongoing BTA talks. The move revives memories of 2018's trade war, with retaliation on the table. In terms of markets, Indian stock markets closed with solid gains on Thursday, lifted by pharma, realty, and heavyweight Reliance Industries. Global cues such as a weaker U.S. dollar and falling bond yields added momentum. Markets now await RBI's policy decision. This report breaks down the top four triggers, including oil prices and FII trends.
Show more
Show less
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
31 minutes ago
- Business Standard
Technology must aid, not replace, human mind in judicial decision: CJI
Technology must complement, not replace, the human mind in judicial decision-making, Chief Justice of India BR Gavai has said while emphasising that the value of discretion, empathy and judicial interpretation is irreplaceable. In his keynote address on "Role of Technology in the Indian Legal System" at the School of Oriental and African Studies (SOAS) of the University of London, the CJI said while the judiciary welcomes innovations like automated cause lists, digital kiosks and virtual assistants, it must ensure that human oversight, ethical guidelines and robust training are integral to their implementation. "The value of discretion, empathy and judicial interpretation is irreplaceable," Justice Gavai said and pointed out that the Indian judiciary is well-positioned to develop homegrown ethical frameworks tailored to the country's constitutional and societal realities. "We possess the technological expertise, the judicial foresight and the democratic mandate to build systems that reflect our values of equality, dignity and justice," he said. "In fact, in the very first week after assuming office as the chief justice of India, I initiated a discussion with the Centre for Research and Planning of the Supreme Court to prepare a comprehensive note on the ethical use of artificial intelligence and emerging technologies in the judiciary. "Technology must complement, not replace, the human mind in judicial decision-making," the CJI said, adding, "The emphasis must always be on using technology to enhance trust and transparency -- never to replace the human conscience at the heart of justice." He said though the judiciary has started to embrace technology, with the emergence of artificial-intelligence (AI) tools in judicial processes -- from case management to legal research, document translation and even predictive analytics -- there must be caution. "Around the world, debates are ongoing about the ethical use of AI in legal systems. Concerns include algorithmic bias, misinformation, data manipulation and breaches of confidentiality. For instance, sensitive information, such as the identity of a victim of crime, must never be disclosed due to AI error or the absence of clear protocols. Additionally, a few recent cases have shown that AI tools can generate fabricated citations or biased suggestions if not properly regulated and monitored," the CJI underscored. He added that technology, if anchored in constitutionalism and empathy, can transform access to justice from an abstract ideal into a lived and shared reality. "As we continue our journey toward modernising the Indian legal system, our approach must remain deeply rooted in constitutional values. The integration of technology must be people-centric, inclusive and guided by ethical clarity. Our ultimate goal should be to make justice accessible to every citizen, regardless of language, geography, income or digital literacy," he said. Concluding his address, Justice Gavai said, "I firmly believe that access to justice is not solely the responsibility of the judiciary. It is a shared national commitment. Law schools, civil society, legal-aid institutions and governments must work in unison to develop and promote technological models that are accessible, transparent and inclusive." Meanwhile, at a joint event of the Singapore International Arbitration Centre (SIAC) and Trilegal organised on the occasion of London International Disputes Week, CJI Gavai said in recent decades, the justice-delivery mechanism, once confined within the boundaries of courtrooms, has witnessed a significant shift towards modes of alternative dispute resolution, with arbitration emerging as a prominent pillar of that transformation. The CJI was speaking on the topic of "Navigating the evolving landscape: The impact of the 7th edition of the SIAC Rules on India-Related Arbitrations". "At the cusp of this evolution lies the recognition that justice, particularly in complex commercial disputes, need not be adversarial or bureaucratic. Rather, it must be confidential, expert-driven and above all, tailored to the needs of those who seek it. Arbitration, in this context, is a substantive recalibration of how we understand and deliver justice," he said. Justice Gavai pointed out that over the last 10-15 years, India has made a multi-pronged effort towards its aspiration of building a favourable and sought-after place for arbitration. "While legislative reforms have significantly strengthened India's arbitration framework, the judiciary has also played a proactive role in fostering a more arbitration-friendly environment. Various progressive judgments by the Supreme Court of India over the last few years stand testament to this. Nonetheless, the enormity of India as a country has ensured that certain on-ground challenges continue," he said. "The Indian judiciary has and will continue to recognise and respect the autonomy of the arbitral process, ensuring that the courts step in only when demanded by the needs of justice," he added. The CJI said, "In conclusion, I am happy to note that the 7th edition of the SIAC Rules is a forward-looking endeavour, aimed at enhancing efficiency while balancing fairness. For India, whose commercial players are increasingly global in outlook and operation, these rules offer both an opportunity and a challenge -- the opportunity to align with international best practices and the challenge to elevate our own standards while balancing them with India's practical realities.
Economic Times
33 minutes ago
- Economic Times
Congress leader Rajesh Soni arrested for Facebook posts on Operation Sindoor, booked under new BNS law
Rajesh Soni, general secretary of Gujarat Congress, was arrested for Facebook posts allegedly undermining India's military morale during Operation Sindoor. The posts featured Prime Minister Modi in a pilot's uniform and claimed the government had surrendered, prompting charges under newly enacted Bharatiya Nyaya Sanhita (BNS) laws. The police argue the content risked India's sovereignty and soldier morale. Congress leaders strongly opposed the arrest, stating Soni intended to highlight the need for proper recognition of soldiers, not criticise their efforts. Tired of too many ads? Remove Ads What the police say sparked the arrest Tired of too many ads? Remove Ads What the charges actually mean Tired of too many ads? Remove Ads Rajesh Soni, a senior Congress leader in Gujarat, was arrested early Friday by the state's Cyber Crime Cell over a pair of Facebook posts that police allege endangered national morale and spread misinformation about a major military posts were related to Operation Sindoor, an ongoing mission by the Indian armed forces targeting terror camps in Pakistan and Pakistan-Occupied Kashmir (PoK). Soni now faces charges under two sections of the recently enacted Bharatiya Nyaya Sanhita (BNS)—sections 152 and 353(1)(a).The FIR, filed by the CID Cyber Crime team on Thursday, cited two Facebook posts made by of them depicted Prime Minister Narendra Modi wearing a fighter pilot uniform in a poster-like image. In another, Soni allegedly claimed that 'the Indian government surrendered during the operation,' an accusation the police say could undermine both the mission and the morale of troops deployed on the of Police (CID-Cyber Crime), Bharatsinh Tank, said, 'Soni was accused of breaking defence personnel's morale and putting India's sovereignty in danger through misleading posts on Facebook.'Tank went on to say, 'We arrested Soni for his posts which could break the armed forces' morale and send a wrong message to soldiers that their contribution and sacrifice on the battlefield will go in vain.'Soni has been charged under Section 152 of the BNS, which deals with acts that endanger the sovereignty, unity, and integrity of India. This section carries serious consequences, including up to life imprisonment or a minimum of seven years' jail, plus a second charge—Section 353(1)(a)—relates to statements that could incite public mischief. This legal provision, too, has teeth and signals the government's intent to regulate what it views as provocative or destabilising online behaviour, especially during military arrest did not go unnoticed by Soni's party after news broke, several Congress leaders gathered at the CID's office in Gandhinagar in protest. Leading the charge was Gujarat Congress president Shaktisinh Gohil, who described the police action as disproportionate and politically said, 'He only tried to highlight that soldiers need to get their due credit instead of the govt spending taxpayers' money on publicity.'He also accused the authorities of cracking down on free expression at a time when the nation should be focusing on supporting its armed forces, not silencing Sindoor has become a national talking point in recent weeks. The Indian military launched the mission with the stated goal of eliminating terror infrastructure in Pakistani territory and PoK. It has been projected by the government as a demonstration of India's zero-tolerance policy towards cross-border the operation has also sparked debates over public narrative management. As the conflict plays out on the ground, its portrayal in digital spaces has become sensitive—especially with a politically charged environment and general elections in government's actions suggest it sees misinformation as a direct threat to the morale of soldiers and the success of such operations. At the same time, critics argue that there is a thin line between national interest and political convenience when it comes to controlling arrest under the new BNS framework could mark a pivotal moment in how India enforces online accountability. It raises difficult questions: Where does one draw the line between political critique and disinformation? Who decides whether a post is morale-breaking or simply provocative?For now, Rajesh Soni remains in custody, his party defiant, and the legal system gearing up for what may become a high-profile case on digital speech and national security.(With inputs from TOI)
New Indian Express
41 minutes ago
- New Indian Express
Musk could lose billions of dollars depending on how spat with Trump unfolds
NEW YORK: The world's richest man could lose billions in his fight with world's most powerful politician. The feud between Elon Musk and Donald Trump could mean Tesla's plans for self-driving cars hit a roadblock, SpaceX flies fewer missions for NASA, Starlink gets fewer overseas satellite contracts and the social media platform X loses advertisers. Maybe, that is. It all depends on Trump's appetite for revenge and how the dispute unfolds. Joked Telemetry Insight auto analyst Sam Abuelsamid, 'Since Trump has no history of retaliating against perceived adversaries, he'll probably just let this pass.' Turning serious, he sees trouble ahead for Musk. 'For someone that rants so much about government pork, all of Elon's businesses are extremely dependent on government largesse, which makes him vulnerable.' Trump and the federal government also stand to lose from a long-running dispute, but not as much as Musk. Tesla robotaxis The dispute comes just a week before a planned test of Tesla's driverless taxis in Austin, Texas, a major event for the company because sales of its EVs are lagging in many markets, and Musk needs a win. Trump can mess things up for Tesla by encouraging federal safety regulators to step in at any sign of trouble for the robotaxis. Even before the war of words broke out on Thursday, the National Highway Transportation Safety Administration requested data on how Musk's driverless, autonomous taxis will perform in low-visibility conditions. That request follows an investigation last year into 2.4 million Teslas equipped with full self-driving software after several accidents, including one that killed a pedestrian.
