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New Straits Times
4 hours ago
- New Straits Times
Trump slaps additional 25pct tariff on India over Russian oil trade
WASHINGTON: US President Donald Trump on Wednesday ordered an additional 25 per cent tariff on Indian goods over New Delhi's continued purchase of Russian oil, a key revenue source for Moscow's war in Ukraine. The tariff, set to take effect in three weeks, comes on top of a separate 25 per cent duty entering into force on Thursday, according to the text of the executive order released by the White House. The order also threatens potential penalties on other countries deemed to be "directly or indirectly importing Russian Federation oil." Exemptions remain for items targeted by separate sector-specific duties such as steel and aluminium, and categories that could be hit like pharmaceuticals. Trump has been ramping up pressure on India after signaling fresh sanctions on Moscow if it did not make progress by Friday towards a peace deal with Kyiv, as Russia's devastating invasion of its pro-western neighbour drags on. India's national security adviser was in Moscow on Wednesday, media in New Delhi reported, coinciding with a visit by US envoy Steve Witkoff. India's foreign ministry earlier said US pressure to stop it buying Russian oil was "unjustified and unreasonable" and that it would protect its interests.--AFP
The Star
9 hours ago
- The Star
India braces for hit to $64 billion US exports amid rising tensions with Washington
FILE PHOTO: A worker makes final checks on jeans pants before packaging in a garment manufacturing unit on the outskirts of Ahmedabad, India, August 5, 2025. REUTERS/Amit Dave/File Photo NEW DELHI (Reuters) -India expects to lose a competitive advantage in about $64 billion worth ofgoods exported to the U.S. due to President Donald Trump's 25% tariff and an assumed 10% penalty for buying Russian oil, four sources told Reuters citing an internal assessment report by the government. India faces its most serious diplomatic crisis with the United States in years after Trump imposed the highest tariffs among Asian peers on goods imported from India, even before anypenalty. A relatively low share of exports in India's $4 trillion economy is seen limiting the direct impact on growth to 40 basis points. The Reserve Bank of India left its GDP growth forecast for the current April-March financial year unchanged at 6.5% and held rates steady on Wednesday despite the uncertainty created by tariff hikes. The trade impact estimates wereprepared by the Indian government after Trump announced the unexpectedly high tariff for Indian goods, along with the unspecified penalty. The Indian government in its assessment report has assumed a 10% penalty for buying Russian oil, taking the tariff to 35%, the four Indian government sources told Reuters. They declined to be identified because they were not authorised to speak to media. India's trade ministry did not immediately respond to a request for comment. Trump said on Wednesday his administration will decide on the penalty for buying Russian oil post the outcome of U.S. efforts to seek a last minute breakthrough in the Ukraine war. U.S. envoy Steve Witkoff is in Moscow, two days before the expiry of a deadline set by Trump for Russia to agree to peace or face new sanctions. The impact of the tariff and possible penalty will be on nearly $64 billion worth of India's exports to U.S that account for about 80% of total exports to the country, and it will lead to 'potential export losses' due to price disadvantages, the four sources said. The internal assessment report is the government's initial estimate and will change as the quantum of tariff by Trump becomes clear, all four sources said. India exported goods estimated at around $81 billion in 2024 to the U.S., including garments, pharmaceuticals, gems and jewellery, and petrochemicals, according to government data. The South Asian nation's goods exports to U.S. constituted 2% of GDP in 2024. Its total goods exports globally were at $443 billion in 2024. The proposed tariffs on India's high-value exports face "erosion of price competitiveness encountering intensified rivalry from countries subject to lower duties," two sources said citing the internal assessment. RUSSIA IN FOCUS India's National Security Adviser Ajit Doval is in Russia on a scheduled visit and is expected to discuss India's purchases of Russian oil in the wake of Trump's pressure on India to stop buying Russian crude, according to a government source. His visit will be followed by Foreign Minister Subrahmanyam Jaishankar in the weeks to come, amid India's attempts to placate Washington's concerns while balancing historical ties with Moscow. Doval is expected to discuss India's defence collaboration with Russia, including getting faster access to the pending units of S400 air defence system and President Vladimir Putin's visit to India. India's foreign ministry did not immediately respond to a request for comment. (Reporting by Nikunj Ohri Sarita Chaganti Singh Shivam Patel in New Delhi; Editing by Aftab Ahmed and Raju Gopalakrishnan)
Borneo Post
9 hours ago
- Borneo Post
Terengganu launches matchmaking portal to boost marriage, birth rates
A civil servant shows the Portal Jodoh Darul Iman on her smartphone. – Bernama photo KUALA TERENGGANU (Aug 6): The Terengganu government today launched the Portal Jodoh Darul Iman (PJDI), an online platform aimed at expediting the matchmaking process among young men and women in the state. State Welfare, Women's Development, Family and National Unity Committee chairman, Maliaman Kassim said PJDI is one of the state government's initiatives to boost the marriage rate among Terengganu residents and, in turn, increase the birth rate in the state, as well as delay the process of Terengganu becoming an ageing state. 'So, with this portal, it encourages our young people to get married legally, and when they get married and have children, it helps delay the ageing process of a state or country. 'For this initial phase, we are targeting 500 participants this year. It is only open to unmarried individuals and to single mothers and fathers who wish to find a partner,' he told reporters after the launch of PJDI. The PJDI Launch Ceremony was officiated by Terengganu Menteri Besar Datuk Seri Dr Ahmad Samsuri Mokhtar at Wisma Darul Iman here today. Maliaman said for now, the portal, which is accessible starting today, is only open to Muslim residents of Terengganu, and improvements including the portal interface and candidate criteria will be enhanced over time. To prevent fraud or misuse of the portal, he said various requirements and identity details, including identity card numbers, must be provided by individuals seeking a match through the portal. 'This means if a participant falsifies their identity, we will detect it and immediately remove them from participation. The process will be handled by the Family Development Foundation, and we will verify the personal data submitted,' he said. He added that participants will state their preferred criteria for a spouse and also provide details about themselves, before the portal's secretariat matches suitable husband or wife candidates accordingly. He said the first meeting between the pair will be accompanied by the secretariat, including a marriage counsellor, before further steps such as engagement and marriage are handled by the respective families. – Bernama Maliaman mathmaking menteri besar portal terengganu
