Japan PM Ishiba Faces Key Test Friday in Bid to Stay in Power
Still, Ishiba himself appears unfazed, refusing to budge from his post and saying he will 'not run away' from explaining his stance to those who are calling for his resignation.
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Modi Vows to Protect Farmers as Trump Builds Tariff Pressure
(Bloomberg) -- Prime Minister Narendra Modi pledged to safeguard the interests of farmers, a day after President Donald Trump doubled tariffs on Indian goods, with pressure mounting on New Delhi to open up its markets to US exports. All Hail the Humble Speed Hump Mayor Asked to Explain $1.4 Billion of Wasted Johannesburg Funds Three Deaths Reported as NYC Legionnaires' Outbreak Spreads Major Istanbul Projects Are Stalling as City Leaders Sit in Jail PATH Train Service Resumes After Fire at Jersey City Station The welfare of farmers remain the country's top priority, Modi said at a conference in New Delhi. The government is constantly working to boost their incomes, lower cultivation costs, and diversify their sources of livelihood, he said on Thursday, without making any direct reference to Trump's move to raise tariffs on Indian goods to 50% as a penalty for India's Russian oil purchases. His commitment to protect farmers comes as Washington wants greater market access for its dairy products and genetically modified crops. It underscores New Delhi's efforts to protect a politically-sensitive sector, while managing stalled trade talks and potential domestic backlash. 'Our government has considered the strength of farmers as the foundation of the nation's progress,' Modi said. 'For us, the welfare of our farmers is the highest priority.' The world's top milk producer and the second-biggest grower of rice, wheat, sugar and cotton doesn't allow cultivation of GM food crops, even though those varieties can boost yields. The commercial release of genetically altered mustard has been stalled due to a legal challenge in the country's top court, and in 2010, the government rejected a GM variety of brinjal, or eggplant. However, India is weighing to ease some dairy market access rules for the US, Bloomberg News reported earlier. Currently, the South Asian nation prohibits the import of dairy products if the cattle were given feed made from animal-derived ingredients. The country has a Hindu majority, and cows are considered as sacred. Farmers are a major voting bloc in the most-populous nation, where millions of smallholders own less than 2 hectares (5 acres) of land. 'India will never compromise' on the interests of its farmers, fishermen and the dairy sector, Modi said. Russia's Secret War and the Plot to Kill a German CEO The Pizza Oven Startup With a Plan to Own Every Piece of the Pie AI Flight Pricing Can Push Travelers to the Limit of Their Ability to Pay Government Steps Up Campaign Against Business School Diversity A High-Rise Push Is Helping Mumbai Squeeze in Pools, Gyms and Greenery ©2025 Bloomberg L.P. Errore nel recupero dei dati Effettua l'accesso per consultare il tuo portafoglio Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati Errore nel recupero dei dati
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Modi Vows to Protect Farmers as Trump Builds Tariff Pressure
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TSMC Shares Surge as Taiwan Says Firm Exempt From Trump Tariffs
(Bloomberg) -- Taiwan said its leading chip manufacturer will not have to pay a 100% tariff on such imports to the US, helping drive Taiwan Semiconductor Manufacturing Co. shares to a record. All Hail the Humble Speed Hump Mayor Asked to Explain $1.4 Billion of Wasted Johannesburg Funds Three Deaths Reported as NYC Legionnaires' Outbreak Spreads Major Istanbul Projects Are Stalling as City Leaders Sit in Jail PATH Train Service Resumes After Fire at Jersey City Station 'TSMC is exempted from the chip tariffs because it has set up plants in the US,' Liu Chin-ching, minister in charge of the National Development Council, said in Taipei on Thursday. As for other Taiwanese companies that may be affected by the levies, they 'shall continue to stay ahead' if competitors face the same charges. The US government has also expressed willingness to continue negotiations with Taiwan on tariff issues, Liu added. The government still expects economic growth in 2025 to reach the level of 3.1%, despite the impact of the new levies, Liu said. TSMC manufactures the most advanced chips used in artificial intelligence, and the island's technology exports drove growth to a blistering 7.96% in the second quarter, the fastest pace in four years. The trillion-dollar company accounts for almost 40% of the weight of Taiwan's benchmark stock index, and its rally Thursday helped lift the broader benchmark. The Taiwan dollar also gained as much as 0.6% to 29.808, the strongest level in a week, after the government confirmed TSMC is exempted from the US chip tariffs. United Microelectronics Corp., Taiwan's second-largest chipmaker, may also reduce the impact of tariffs through its cooperation with Intel Corp., Liu said. 'Investors had been apprehensive while awaiting the tariff rate for semiconductors, but exemptions for Taiwan's largest company have allayed concerns,' said Khoon Goh, head of Asia research at Australia & New Zealand Banking Group. 'Foreign equity inflows on the back of this news have helped pushed TWD stronger. With the dividend repatriation flows now largely complete, and with the USD back under pressure again, we could see further appreciation in TWD near-term.' On Wednesday, Trump said he would impose a 100% tariff on semiconductor imports, but cited Apple Inc. as an example of a company that won't have to pay levies because of its investment in the US. 'If you're building in the United States of America, there's no charge,' Trump said. 'Even though you're building and you're not producing yet.' In March, TSMC announced an additional $100 billion investment in the US, with three more fabs, two advanced packaging facilities and a research and development center in Arizona, raising its total investment in the US to $165 billion. The US recently imposed a 20% tariff on goods from Taiwan, but said the chip sector would be treated separately. That levy is higher than the 15% Taiwan's main regional competitors like Japan and South Korea both secured. Still, companies and governments continue to scramble to assess the impact of Trump's various tariff announcements. South Korea's Samsung Electronics Co. has chip fabs in Texas and is joining Apple's 'American Manufacturing Program,' making it well-positioned to avoid tariffs. But the government of Malaysia, a significant semiconductor exporter, on Thursday said it has reached out to the US seeking clarity on the tariffs. --With assistance from Betty Hou, Wenjin Lv and Anisah Shukry. Russia's Secret War and the Plot to Kill a German CEO The Pizza Oven Startup With a Plan to Own Every Piece of the Pie AI Flight Pricing Can Push Travelers to the Limit of Their Ability to Pay Government Steps Up Campaign Against Business School Diversity A High-Rise Push Is Helping Mumbai Squeeze in Pools, Gyms and Greenery ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
