Trump warns of '1929-style Depression' if court rules against his tariffs
Trump insisted that the courts should have ruled earlier in the case if they intended to block his policies, arguing that the US now stood to lose its 'chance at greatness' if the decision went against him. 'Our country deserves success and greatness, not turmoil, failure, and disgrace. God bless America!' he said.Trump's new tariffs on US imports from dozens of countries went into effect on Thursday.India will now face an additional 25% duty on certain imports over its purchases of Russian oil, taking the total tariff rate to 50%. Exporters say the move will impact nearly 55% of outbound shipments to the US and threaten long-standing trade relationships.'Absorbing this sudden cost escalation is simply not viable. Margins are already thin,' SC Ralhan, president of the Federation of Indian Export Organizations, was quoted as saying by the Associated Press.The new rates took effect just after midnight, covering goods from more than 60 countries and the European Union. Imports from the EU, Japan, and South Korea now face 15% tariffs, while products from Taiwan, Vietnam, and Bangladesh are taxed at 20%.Trump also announced 100% tariffs on computer chips and higher rates on pharmaceuticals, saying the US is 'taking in hundreds of billions of dollars in tariffs' and predicting 'unprecedented' growth.Economists, however, warn of slowing hiring, rising inflation, and falling home prices since the initial rollout in April. Germany's industrial production fell 1.9% in June, and Switzerland failed in a last-minute bid to avert 39% tariffs on its goods.Global markets have shown resilience so far — the S&P 500 has climbed more than 25% since April — but analysts caution the adverse effects could take time to surface.- EndsTune InMust Watch
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Indian Express
30 minutes ago
- Indian Express
Trump and Putin to meet to discuss Ukraine peace deal in Alaska
US President Donald Trump will meet with Russian President Vladimir Putin on August 15 in Alaska to negotiate an end to the war in Ukraine, Trump said on Friday. Trump made the highly anticipated announcement on social media after he said that the parties, including Ukraine President Volodymyr Zelenskyy, were close to a ceasefire deal that could resolve the three-and-a-half-year conflict — one that could require Ukraine to surrender significant territory. Addressing reporters at the White House earlier on Friday, Trump suggested an agreement would involve some exchange of land. 'There'll be some swapping of territories to the betterment of both,' the Republican president said. The Kremlin subsequently confirmed the summit in an online statement. The two leaders will 'focus on discussing options for achieving a long-term peaceful resolution to the Ukrainian crisis,' Putin aide Yuri Ushakov said. 'This will evidently be a challenging process, but we will engage in it actively and energetically,' Ushakov said. In his evening address to the nation on Friday, Zelenskyy said it was possible to achieve a ceasefire as long as adequate pressure was applied to Russia. He said he had held more than a dozen conversations with leaders of different countries and his team was in constant contact with the United States. Putin claims four Ukrainian regions — Luhansk, Donetsk, Zaporizhzhia and Kherson — as well as the Black Sea peninsula of Crimea, which he annexed in 2014. His forces do not fully control all the territory in the four regions. Earlier, Bloomberg News reported that US and Russian officials were working towards an agreement that would lock in Moscow's occupation of territory seized during its military invasion. A White House official said the Bloomberg story was speculation. A Kremlin spokesperson did not respond to a request for comment. Reuters was unable to confirm aspects of the Bloomberg report. Ukraine has previously signaled a willingness to be flexible in the search for an end to a war that has ravaged its towns and cities and killed large numbers of its soldiers and citizens. But accepting the loss of around a fifth of Ukraine's territory would be painful and politically challenging for Zelenskyy and his government. Tyson Barker, the US State Department's former deputy special representative for Ukraine's economic recovery, said the peace proposal as outlined in the Bloomberg report would be immediately rejected by the Ukrainians. 'The best the Ukrainians can do is remain firm in their objections and their conditions for a negotiated settlement, while demonstrating their gratitude for American support,' said Barker, a senior fellow with the Atlantic Council. Under the putative deal, according to Bloomberg, Russia would halt its offensive in the Kherson and Zaporizhzhia regions along current battle lines. The last time Alaska hosted a high-stakes diplomatic gathering was in March 2021, when senior officials from the administration of Democratic former President Joe Biden met with top Chinese officials in Anchorage. The get-together involving Biden's top diplomat Antony Blinken and his Chinese counterpart Yang Jiechi quickly turned into a stunning public clash in front of the cameras, with both sides leveling sharp rebukes of the others' policies that reflected the high tension in bilateral ties. Since his return to the White House in January, Trump has moved to mend relations with Russia and sought to end the war. In his public comments, he has veered between admiration and sharp criticism of Putin. In a sign of his growing frustration with Putin's refusal to halt Russia's military offensive, Trump had threatened to impose new sanctions and tariffs from Friday against Moscow and countries that buy its exports unless the Russian leader agreed to end the conflict, the deadliest in Europe since World War Two. It was unclear by Friday evening whether those sanctions would take effect or be delayed or canceled. The administration took a step toward punishing Moscow's oil customers on Wednesday, imposing an additional 25% tariff on goods from India over its imports of Russian oil, marking the first financial penalty aimed at Russia in Trump's second term. Trump's special envoy Steve Witkoff held three hours of talks with Putin in Moscow on Wednesday that both sides described as constructive. Prime Minister Donald Tusk of Poland, a close ally of Ukraine, said earlier on Friday that a pause in the conflict could be close. He was speaking after talks with Zelenskyy. 'There are certain signals, and we also have an intuition, that perhaps a freeze in the conflict — I don't want to say the end, but a freeze in the conflict — is closer than it is further away,' Tusk told a news conference. 'There are hopes for this.' Tusk also said Zelenskyy was 'very cautious but optimistic' and that Ukraine was keen that Poland and other European countries play a role in planning for a ceasefire and an eventual peace settlement.
Time of India
30 minutes ago
- Time of India
Breaking News Live Updates: Trump again touts global peace efforts during Armenia-Azerbaijan accord signing
09 Aug 2025 | 07:22:44 AM IST Breaking News Live Updates: US President Donald Trump on Friday used the signing of a peace accord between Armenia and Azerbaijan at the White House to highlight once again his role in brokering peace accords, recalling earlier interventions in conflicts around the world. Breaking News Live Updates: US President Donald Trump on Friday used the signing of a peace accord between Armenia and Azerbaijan at the White House to highlight once again his role in brokering peace accords, recalling earlier interventions in conflicts around the at the ceremony alongside the leaders of Armenia and Azerbaijan, Trump described his "highest aspiration" as bringing "peace and stability to the world.""Today's signing follows our success with India and Pakistan. They were going at it. They were going at it big. And they were great leaders that came together just prior to what would have been a tremendous conflict, as you know, a nuclear conflict probably," Trump said. Show more Karnataka Deputy Chief Minister DK Shivakumar on Friday said that the Congress party had appealed to the Election Commission to investigate the voter list fraud in the a delegation of Congress leaders, the DCM submitted a memorandum to the Election Commission regarding election fraud in various parts of the state, including the Mahadevapura Assembly to reporters after submitting the memorandum, Shivakumar said, "We held a protest under the leadership of Mallikarjun Kharge and Rahul Gandhi to protect voters' rights. In view of the court orders, we decided not to march to the Election Commission, and only a few leaders submitted the memorandum. Rahul Gandhi has provided all the information about the election fraud. We have submitted a memorandum to the Election Commission to review the voter list across the state." Chandauli, Uttar Pradesh | For the first time in the entire Indian Railways, Pandit Deen Dayal Upadhyay Division ran 4.5 km long 'Rudrastra', a 354 wagon freight train made by joining 6 box rakes together, was run by 7 engines. 'Rudrastra' was successfully run from Ganjkhwaja station of DDU Division. This freight train was about 4.5 km long, which is the longest freight train of Indian Railways. It covered a distance of 200 km from Ganjkhwaja station to Garhwa Road station in 5 hours at an average speed of 40 km. Indian Air Force continued its Humanitarian Assistance and Disaster Relief (HADR) operation on Friday in Uttarakhand after the devastating floods hit Dharali and X post by the Indian Air Force read, "Chinook, Mi-17 V5 and ALH helicopters of #IAF rescued 123 civilians, inducted NDRF teams, and delivered over 4 tons of critical supplies. A special telecom unit was airlifted, swiftly restoring vital communication links to the cut-off region. IAF assets remain ready for sustained operations." US President Donald Trump on Friday used the signing of a peace accord between Armenia and Azerbaijan at the White House to highlight once again his role in brokering peace accords, recalling earlier interventions in conflicts around the at the ceremony alongside the leaders of Armenia and Azerbaijan, Trump described his "highest aspiration" as bringing "peace and stability to the world.""Today's signing follows our success with India and Pakistan. They were going at it. They were going at it big. And they were great leaders that came together just prior to what would have been a tremendous conflict, as you know, a nuclear conflict probably," Trump said.
Time of India
30 minutes ago
- Time of India
Trump, Putin to meet in Alaska on Aug 15 for possible Ukraine peace deal
US President Donald Trump announced he will meet Russian President Vladimir Putin in Alaska on August 15, 2025, to discuss a potential Ukraine peace deal, possibly involving 'territory swaps.' The meeting follows Trump's ultimatum for Putin to make peace or face severe sanctions. It will be Putin's first US visit since 2015 and their first meeting since 2018, marking a pivotal moment in US-Russia relations amid the ongoing war Show more Show less
