Pentagon's "Biggest Order For AMRAAMS" As Wars in Ukraine, Middle East Drain Missile Stockpile
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Time of India
34 minutes ago
- Time of India
Rahul Gandhi brings Adani angle in tariff war
New Delhi: Congress leader Rahul Gandhi on Wednesday said Prime Minister Narendra Modi cannot stand up to US President Donald Trump because of "the ongoing US investigation into Adani". Trump had on Tuesday said that he will raise tariffs on New Delhi "very substantially" over the next 24 hours because India is still buying Russian oil despite his warning against it. "India, please understand: The reason PM Modi cannot stand up to President Trump despite his repeated threats is the ongoing US investigation into Adani. One threat is to expose the financial links between Modi, AA and Russian oil deals. Modi's hands are tied," Gandhi posted on social media. Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program While Gandhi wanted to make India understand his line of argument, it also left some sections of even Congress a bit confused given the contradiction in Trump threatening to impose more tariffs after India refused to give into his demands, including the push to make New Delhi end fuel purchase from Russia and Gandhi's suggestion of the PM not standing up to the US president's trade-deal demands. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The Simple Morning Habit for a Flatter Belly After 50! Lulutox Undo
India.com
6 hours ago
- India.com
BIG setback for Trump as this NATO country snubs US, scraps F-35 deal due to...; not Turkey, Italy, France, the name is...
Spain has scrapped plans to purchase F-35 fighter jets from the US. (File) In a major setback for US President Donald Trump, especially his plan to pummel the US' European allies into submission with high import tariffs, Spain, a prominent NATO member, has scrapped plans to purchase US-made F-35 stealth fighter jets from US arms maker Lockheed Martin. Why Spain junked US' F-35 deal? According to a report by El Pais, a leading Spanish daily, Spain had allocated $7.24 billion in its 2023 defense budget for purchasing advanced fighter aircraft, and it was believed that the NATO member would likely acquire F-35 from the United States. However, Spain has reportedly canceled the F-35 deal, and instead plans to spend an additional 10.5 billion euros on European defense equipment. The primary reason behind Spain's decision to snub the US is rooted in Trump's tariff threats to NATO allies to increase their defense spending or face additional trade penalties. Earlier, this year, Spain's socialist Prime Minister Pedro Sanchez had agreed to meet NATO's 2% GDP target by increasing defense spending, but during the NATO summit in June, Sanchez declined to increase the spending 5%. The Spanish PM's bold stance angered Donald Trump, who threatened to impose heavy tariffs and additional duties on its imports if Madrid did not agree to his terms. How Spain's move affects the US? According to experts, Spain's decision is major setback for the US as well as F-35 maker Lockheed Martin, as the F-35 program is already facing heavy criticism due to high costs and technical flaws. Recently, a F-35 fighter jet crashed in the US, while a British Navy's F-35B remained stranded at an Indian airport for over a month. In another development, Turkey, already considered a drone manufacturing powerhouse, is now posing a challenge to US-made stealth fighter jets, including the F-35 Lightning II, with its indigenous Kaan fighter jet, which is being viewed by many countries as a pocket-friendly, and more accessible to US fighter planes, that come loaded with preconditions, apart from the hefty price tag. Spain's Defense Ministry and Lockheed Martin have not commented on the matter.
Time of India
13 hours ago
- Time of India
Asia-US sea freight rates set to extend declines amid tariff chaos
Live Events SINGAPORE: Asia-U.S. sea freight rates are set to drop further in 2025 as shipping capacity outpaces demand and trade routes shift due to tariffs and geopolitical tensions, though vessel rerouting is expected to limit some losses, industry experts spot rates for containers from Asia to the U.S. west and east coasts have slumped by 58% and 46%, respectively, since June 1 and are expected to fall further, according to shipping analytics firm Xeneta Adding to uncertainty are unresolved trade talks between the U.S. and China. Officials from the world's top two economies last week agreed to seek an extension of their 90-day tariff truce. The China-U.S. trade lane remains one of the most profitable for container ship freight saw a brief uptick in late May and early June as shippers took advantage of a 90-day pause in U.S. President Donald Trump's tariffs, but rates quickly fell as capacity outweighed demand, Xeneta data showed."There is significant overcapacity globally and this will continue to shape the market," said Erik Devetak, Xeneta's chief technology and data officer."China-to-U.S. trade is dampened and the EU economy is not exactly hot, so blanked sailings and cancellations will become a recurring theme as carriers desperately try to keep freight rates up," Devetek sailing refers to cancelled port calls or major DHL noted that spot rates, which rose in the early summer surge of traffic from Asia to North America, have since reversed."Carriers rushed to add capacity on the transpacific to chase early gains, but oversupply is becoming apparent as the momentum fades," said Niki Frank, CEO of DHL Global Forwarding Asia Milford, maritime analyst at Veson Nautical, expects rates to decline steadily in the second half when more vessels are expected to enter the market."Ongoing uncertainty, including tariff policy and slowing global demand, adds continued pressure," Milford Network Express, a joint venture between Japan's Kawasaki Kisen Kaisha, Mitsui O.S.K. Lines and Nippon Yusen, said last week that "recent trade uncertainties further complicate visibility for the latter half of the fiscal year".A key factor helping absorb some of the excess capacity, however, is the rerouting of vessels from traditional are diverting from the Red Sea following attacks by Yemeni Houthis, and some are bypassing U.S. ports to avoid tariffs. These longer voyages are soaking up more ships and helping provide a floor for rates, analysts said."These diversions continue to soak up in excess of 10% of containership supply, leading capacity utilization to a healthy level in the 86-87% range," analysts at Jefferies Research wrote, referring to the Red while China's exports to the U.S. have fallen, shipments elsewhere have analysts said spot bookings to the U.S. in recent weeks suggest July volumes are likely to be down, pushing transpacific freight rates to their lowest this year, but rates to markets such as Europe and Latin America remain elevated.
