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Time of India
37 minutes ago
- Time of India
Brazil's Big BRICS Snub At Trump Over Tariff War, Nikki Haley Warns US Not To Burn Bridge With India
In a stunning diplomatic twist, Brazilian President Lula da Silva has refused to call US President Donald Trump amidst a growing trade war. While Trump imposed a crushing 50% tariff on Brazilian imports and threatened similar action on India, Lula declared that he would instead reach out to Indian PM Narendra Modi and Chinese President Xi Jinping. Lula called the tariff day "the most regrettable" in Brazil-US ties and hinted at coordinated BRICS retaliation. India, too, faces tariff threats from Trump over Russian oil purchases. Meanwhile, Nikki Haley warned Trump against alienating India while soft-pedaling on China. As Trump dismisses BRICS as "fading fast," the bloc's symbolic banknote launch and anti-dollar stance suggest a global realignment, with India at its center. The global trade game is shifting, and New Delhi is no longer a silent player.#lula #donaldtrump #trumptariffs #brics #bricsbanknote #modi #xijinping #putin #nikkihaley #indianews #brazilnews #globaltradewar #usindia #usbrasil #russianoil #chinaus #wto #geopolitics #modigovernment #usforeignpolicy #trendingnow #india #breakingnews #trending #bharat #toi #toibharat #indianews Read More


Mint
an hour ago
- Mint
China begs for babies after years of punishing parents, ready to spend ₹1 lakh crore; but, youth is not convinced
China once punished couples for having more than one child. Under its old one-child rule, some parents paid huge fines, up to 100,000 yuan ( ₹ 12 lakh). It was nearly triple their yearly income. Officials even forced abortions and surgeries. But, now, China wants young people to have more children. To encourage this, the government will give 3,600 yuan ( ₹ 44,000) every year for each child under three, retroactively effective from January 1. Beijing plans to spend 90 billion yuan (more than ₹ 1 lakh crore) to help 20 million families this year. Earlier, only local governments gave such support. This is the first time the Central government is giving a national subsidy. However, experts say this may not increase birth rates much. Similar plans failed in Japan and South Korea, according to CNN. Many young people in China feel stressed due to long work hours, expensive housing and uncertain jobs. The small allowance doesn't solve these bigger problems. While some parents welcome the money, others remain unsure about having kids. 'The cost of raising a child is enormous, and 3,600 yuan a year is a mere drop in the bucket,' Zane Li told CNN. When Zane was 9, her parents had to pay a hefty amount for having a second child. Zane, now 25, says he has no plans to have a baby. '(Having kids) would only bring more hardship. I'm not a capitalist or anything, and my kid probably wouldn't have much of a good life either,' Zane added. On Chinese social media, young people are sharing old receipts showing fines their parents had paid for having more than one child during the one-child policy. Many had grown up thinking life would improve with hard work and education. But now, hope is fading, CNN reported. Property is too expensive, and good jobs often go only to those with strong family contacts. Even though China ended the one-child rule and now allows up to three children, birth rates continue to fall. The population has been shrinking for three years. According to the Peterson Institute For International Economics, China recorded 9 births and 11.1 million deaths in 2023. The institute said the population decline was 'getting close to irreversible'. Raising one child in China costs an average of 538,000 yuan ( ₹ 65 lakh), which is over six times the country's average income. In cities like Shanghai and Beijing, it costs much more, crossing ₹ 1 crore. Because of such high costs, many couples are choosing not to have children. The younger generation is now more worried than hopeful about their future, the publication added.


Time of India
an hour ago
- Time of India
With BYD in fast lane, Tesla's Europe sales in July decline over 50% YoY
Tesla continues to post steep sales declines in Europe's biggest electric vehicle (EV) markets, where the Elon Musk-led automaker is ceding significant share to China's BYD. In both Germany and the UK—by far the two leading countries for battery-electric vehicle registrations in Europe—Tesla's July sales fell by more than half compared with a year ago, according to figures reported Tuesday. BYD, by contrast, more than quadrupled registrations in each country. Last week, the national auto association for France—the No 3 market in Europe by EV sales—reported that Tesla's registrations dropped 27 per cent in July and were down almost 40 per cent through the first seven months of the year. Tesla pinned the blame for its early-year sales weakness on manufacturing disruptions linked to changing over production lines for its most important vehicle, the Model Y. But the company's slump has carried on even as it's ramped up output of the redesigned SUV, adding to concerns that its chief executive officer's polarizing and often politically charged persona have damaged Tesla's brand. On Monday, the company announced that it had approved an interim award of about $30 billion worth of Tesla stock to Musk as a legal fight over his 2018 pay package drags on. Tesla's struggles have created an opening for leading European manufacturers, as well as BYD. The Chinese automaker sold more fully electric cars in Europe than Tesla for the first time ever in April. Some analysts are predicting BYD will pull ahead of Tesla globally for the full year — and that's without BYDs even being available in Tesla's home market, the US. In Germany—Europe's biggest auto market and the home of Tesla's sole assembly plant in the region— BYD outsold Tesla for the third time this year in July.