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CNBC
41 minutes ago
- CNBC
Asia markets set to open lower as investors weigh Trump's vow on fresh chip tariffs
Asia-Pacific markets are set to start the day lower, following U.S. President Donald Trump's vow to impose a 100% tariff on imports of semiconductors and chips to the U.S., but companies that are "building in the United States" will be exempted. Details such as how much a company needs to be manufacturing in the U.S. to qualify for the tariff exemption were not immediately clear. Good morning from Singapore. Investors will be keeping a close watch on chip stocks following U.S. President Donald Trump's vow to impose 100% tariffs on imported semiconductors and chips, unless they are made by companies "building in the United States." Japan's benchmark Nikkei 225 was set to open lower, with the futures contract in Chicago at 40,785 while its counterpart in Osaka last traded at 40,790, against the index's last close of 40,794.86. Futures for Hong Kong's Hang Seng index stood at 24,903, pointing to a weaker open compared with the HSI's Wednesday close of 24,910.63. Australia's S&P/ASX 200 was set to start the day lower with futures tied to the benchmark at 8,779, compared with its last close of 8,843.70. — Amala Balakrishner President Donald Trump said late Wednesday that he would slap a 100% duty on imports of semiconductors and chips – with an exception for companies that are "building in the United States." "We're going to be putting a very large tariff on chips and semiconductors," he said, speaking in the Oval Office on Wednesday afternoon. "But the good news for companies like Apple is if you're building in the United States or have committed to build, without question, committed to build in the United States, there will be no charge," Trump added. Shares of Apple advanced 3% in extended trading, fresh off a 5% gain in the regular session. Stock chart icon Apple shares in the past day – Kevin Breuninger, Darla Mercado All the three major averages finished with gains on Wednesday. The S&P 500 advanced 0.73% to finish at 6,345.06, while the Nasdaq Composite jumped 1.21%, closing at 21,169.42. The Dow Jones Industrial Average also rose 81.38 points, or 0.18%, to end the day at 44,193.12. — Sean Conlon

Associated Press
an hour ago
- Associated Press
Afghanistan's Taliban have 'weaponized' the judicial system to oppress women, UN expert says
UNITED NATIONS (AP) — Afghanistan's Taliban rulers have 'weaponized' the legal and judicial system to oppress women and girls in what amounts to 'crimes against humanity,' the independent U.N. investigator on human rights in the country said. Richard Bennett said in a report to the U.N. General Assembly circulated Wednesday that after seizing power in 2021 the Taliban suspended the 2004 constitution and laws protecting the rights of women and girls. These include a landmark law that criminalized 22 forms of violence against women, including rape and child and forced marriage. The Taliban dismissed all judges under the previous U.S.-backed government, including approximately 270 women, replacing them with men who share their extreme Islamic views, lack legal training and hand down decisions based on edicts issued by the Taliban, he said. In addition, he noted that the Taliban have assumed full control over law enforcement and investigative agencies, systematically purging Afghans who worked for the previous government. Bennett, who was appointed by the Geneva-based U.N. Human Rights Council, focused on access to justice and protection for women and girls in his report. He said he held meetings, focus-group discussions and one-on-one interviews with more that 110 Afghans inside and outside the country. He did so remotely because the Taliban have refused to grant him a visa to travel to Afghanistan. Since the Taliban took control of Afghanistan, their crackdown on women and girls has been widely reported and globally denounced. Taliban leaders have barred education for women and girls beyond sixth grade, banned most employment, and prohibited women from many public spaces, including parks, gyms and hairdressers. New laws ban women's voices and bare faces outside the home. The Taliban remain isolated from the West because of their restrictions on women and girls and have only been recognized by Russia. Bennett said the Taliban did not respond to an advance copy of the report and a request for information about their efforts to ensure access to justice and protection for women and girls. The Taliban defend their approach to justice by claiming they are implementing Islamic sharia law, but Islamic scholars and others have said their interpretation is unparalleled in other Muslim-majority countries and does not adhere to Islamic teachings. They say protecting the legal rights of women is a priority. Bennett said, however, that women have virtually no rights. 'Today, there are no women judges or prosecutors and no officially registered female lawyers, leaving women and girls with fewer safe channels to report abuse or seek redress,' he wrote. 'Coupled with a lack of female officials in the police and other institutions, the result is widespread underreporting of violence and discrimination against women and girls.' Bennett said access to justice for girls 'is further undermined by the dismantling of key legal safeguards and institutions protecting the rights of children,' including juvenile courts and juvenile rehabilitation centers. The Taliban requirement that a woman must be accompanied by a male relative also creates barriers to filing complaints and attending court proceedings, he said, and disproportionately affects widows, women who are the heads of their households, the displaced and disabled. 'Women who engage with the Taliban court system — whether as victims seeking redress, to resolve family issues, to obtain official documents or as alleged offenders — face a hostile environment,' Bennett said. 'Courts often reject complaints made by women and are especially reluctant to accept cases relating to divorce, child custody and gender-based violence.' Facing these obstacles, Bennett said, women increasingly turn to traditional and informal justice mechanisms, including formal jirgas and shuras — community councils of elders — and informal mediation by religious leaders, community elders or family. But these are all male-dominated and raise 'serious concerns about the rights of women and girls,' he said. He said international forums offer the best hope for justice. He pointed to the International Criminal Court's request on Jan. 23 for arrest warrants for two senior Taliban leaders accused of crimes against humanity for persecution 'on gender grounds.' And he urged all countries to support efforts to bring Afghanistan before the International Court of Justice, the U.N.'s highest tribunal, for violating the Convention on the Elimination of All Forms of Discrimination against Women.


New York Times
an hour ago
- New York Times
Trump's Tariff Gamble Puts America's Ties With India at Risk
President Trump has staked enormous political capital on being the one to end the war in Ukraine, even asserting that he could do so 'in 24 hours.' In perhaps his biggest gamble yet to achieve that goal, he pledged on Wednesday to punish India with tariffs of 50 percent for buying Russian oil. At stake is the relationship between the United States and an increasingly important strategic partner in Asia. India, the world's most populous democracy, and the United States, its most powerful one, have an unusual relationship. They are friendly but not close, brought together by mutual interests and shared values, especially in recent decades. On Wednesday, Mr. Trump seemed ready to ditch that relationship. He doubled already hefty tariffs on Indian exports to the United States for its steadfast refusal to stop buying oil from Russia, in an effort to pressure Russia to end the war. Mr. Trump has accused India of helping Russia finance its war on Ukraine through oil purchases; India has said it needs cheap oil to meet the energy needs of its fast-growing economy. India called the additional tariffs 'unfair, unjustified and unreasonable,' pointing out that it was being punished for doing something — buying Russian oil at a discounted price — that other nations have done, although it didn't mention names. China is the largest buyer of Russian oil, and Turkey has also deepened its energy links with Russia since the start of the war in Ukraine, without incurring similar penalties. Analysts said Mr. Trump's pressure tactics could damage the longstanding ties between India and the United States. 'We are better off together than apart,' said Atul Keshap, a retired U.S. diplomat and president of the U.S.-India Business Council. 'The partnership forged by our elected leaders over the past 25 years is worth preserving, and has achieved considerable mutual prosperity and advanced our shared strategic interests.' Want all of The Times? Subscribe.