US Behaviour 'Boosts Pakistan's Global Image, Helps it Come in From the Cold': Nirupama Rao
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SpaceX set for boost as Trump cuts ‘outdated' rocket launch regulations
US President Donald Trump signed an executive order on Wednesday to loosen federal regulations governing commercial rocket launches, a move aimed at speeding up space missions — and one that could hand Elon Musk's SpaceX a significant order directs the US transportation secretary to strip away 'outdated, redundant or overly restrictive rules for launch and reentry vehicles' and to cut back on lengthy environmental reviews for launch licenses administered by the Federal Aviation Administration (FAA).advertisement'Inefficient permitting processes discourage investment and innovation, limiting the ability of US companies to lead in global space markets,' the order states. It also warns that 'overly complex environmental and other licensing and permitting regulations slow down commercial space launches and infrastructure development, and benefit entrenched incumbents over new market entrants.' Although the billionaire entrepreneur Elon Musk and Trump have been publicly feuding for months, SpaceX is likely to be the single biggest immediate beneficiary. The company dominates the US launch sector — outpacing even NASA — and Musk has long complained that environmental reviews and post-flight mishap probes have delayed testing of SpaceX's massive Starship rocket at its South Texas was not mentioned by name in the order, but the policy shift is expected to benefit other private space companies too, as Washington seeks to ensure American dominance in the global space economy.- EndsWith inputs from Reuters
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Treasury's Bessent urges ban on congress members trading individual stocks
Treasury Secretary Scott Bessent is calling for a ban on single-stock trading by members of Congress. The move could add momentum to growing bipartisan efforts to outlaw the not the first Washington figure to back such a ban, Bessent's remarks come as House and Senate GOP leaders face pressure to act on proposals that have gained traction in recent is the credibility of the House and the Senate that you look at some of these eye-popping returns — whether it's Rep. [Nancy] Pelosi, Sen. [Ron] Wyden, every hedge fund would be jealous of them,' Bessent said in a Bloomberg interview on Wednesday. 'And the American people deserve better than this.' Speaker Mike Johnson resisted Rep. Anna Paulina Luna's (R-Fla.) push for a floor vote on a ban in September. While the measure has bipartisan support, it has also drawn bipartisan opposition, with members voicing concerns during the August spokesperson Ian Krager said she 'does not own any stocks and has no knowledge or subsequent involvement in any transactions.' Wyden's office pointed to a social media post in which the senator reiterated his support for a ban and accused Bessent of deflecting from the Treasury Department's handling of Jeffrey Epstein-related bank records.'Bessent is fuming that I blew the whistle on the fact that he's hiding a huge Epstein file at the Treasury Department,' Wyden wrote. 'Thousands of pages worth of Epstein's bank records with names. Until he releases it, he's just running interference for Epstein's paedophile ring.'The stock trading issue has become a political weapon for both parties. In April, House Democrats criticised Rep. Marjorie Taylor Greene (R-Ga.) for purchasing stocks shortly before President Donald Trump reversed part of his tariff same month, Sen. Josh Hawley (R-Mo.) introduced the PELOSI Act, which would bar lawmakers and their spouses from trading individual stocks.'People shouldn't come to Washington to get rich, they should come to serve the American people,' Bessent said. 'And it brings down trust in the system. Because I can tell you that if any private citizen traded this way, the SEC would be knocking on their door.'- EndsWith inputs from agencies Must Watch
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Gujarat's textile industry threatened by 50% US tariffs demands 10% export incentive
Gujarat's textile sector is staring at a severe crisis after the US announced a 50 per cent tariff on all imports from India — a move industry leaders say could force many exporters to shut shop. Industry stakeholders have urged the Centre to step in to take effective measures, including a 10 per cent export incentive to help offset the tariff's new duty was imposed by US President Donald Trump in two stages — a 25 per cent tariff on all Indian imports and an additional 25 per cent penalty over India's continued purchase of Russian oil. The Indian government condemned the decision and has refused to bow to American pressure to stop buying Russian blow is particularly harsh for Gujarat, home to major textile hubs Ahmedabad and Surat. India's total textile exports to the US are valued at USD 10–12 billion annually, with Gujarat accounting for more than 15 per cent of that trade. Sandip Shah, co-chairman of the textile committee of the Gujarat Chamber of Commerce and Industry, said exporters had initially hoped the earlier 25 per cent tariff would be rolled back after talks. "But with 50 per cent now in place, trade with America has become impossible," he said. "For textiles, the US market is now almost shut".According to Shah, such a sudden halt in trade will create serious liquidity problems. "If this is not resolved quickly, it could take the industry more than six months to recover," he believe that Surat, known for its synthetic fabric exports, will be hit Gujarati, former president of the Southern Gujarat Chambers of Commerce and Industries, said the city alone accounts for Rs 3,000–Rs 4,000 crore in direct exports to the US. "The indirect impact will be even bigger — losses could touch Rs 10,000–Rs 12,000 crore because several allied industries depend on textiles," he some, the only option might be to shut down or relocate production. "If 50 per cent tariff is implemented, no one will be able to export to the US," said PR Kankaria, owner of Kankaria Textiles in Ahmedabad. "Units will close, artisans will lose jobs, and many will have to migrate".Industry bodies are urging the central government to step in. One proposal is for a 10 per cent export incentive to help offset the tariff's impact and redirect exports to other countries. "If we get incentives, our exports to other markets can triple," said Kankaria. "If not, everything will stop".advertisementThe US remains a key buyer of Indian textiles, and losing that market could have ripple effects across supply chains — from yarn makers to embroidery the sector has diversified exports to regions like Europe, West Asia, and Latin America, replacing the US market in the short term will be industry hopes for urgent action. "We still expect the government to make a decision in traders' interest so that losses are minimised," said the trade standoff now tied to geopolitical tensions over Russian oil, analysts warn the textile industry's fate may depend as much on foreign policy as on economic measures.(Disclaimer: The views, opinions, recommendations, and suggestions expressed by experts/brokerages in this article are their own and do not reflect the views of the India Today Group. It is advisable to consult a qualified broker or financial advisor before making any actual investment or trading choices.)- Ends
