Trump extends suspension of higher tariffs on China by 90 days: Report
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US President Donald Trump has signed an executive order extending the suspension of higher U.S. tariffs on Chinese imports for another 90 days, a White House official told CNBC on Monday.The order was signed just hours before the midnight deadline, when the current pause was due to expire. The extension follows the most recent round of negotiations between U.S. and Chinese trade officials in Stockholm late last month.Without the move, American tariffs on Chinese goods would have reverted to the elevated levels seen in April, when tensions between the world's two largest economies were at their height.Washington and Beijing had first agreed to a 90-day suspension of most tariffs in May after an initial meeting in Geneva. That agreement was due to lapse on Tuesday, prompting Trump's latest decision to prolong it.
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India.com
5 minutes ago
- India.com
The Open Atlas Summit 2025 brings with it the letting down of curtains on the largest union of skilled immigrants in America as it makes its way back to Silicon Valley
Silicon Valley prepares for the gathering of more than 750 skilled immigrant talent, tech leaders, and entrepreneurs for what is going to be the most transformative weekend of the year. Far beyond being any other tech conference, the Open Atlas Summit 2025, taking place on August 15-16 at the India Community Centre in Milpitas is a movement that is attempting to wrench the new change into the way immigrant talent networks, nurtures and grows in America. Organized by the visionary entrepreneurs Nikin Tharan and Soundarya Balasubramani, the summit is slowly cementing itself to be the most resounding congregation for skilled immigrants trying to find their way through the immensely complicated culture of American immigration, career and entrepreneurship. What was once a community need has turned into a two-day transformative experience according to attendees. 'We're not just putting together a conference,' shares Nikin Tharan, speaking to the mission of the conference fostered by his own passion for immigrant empowerment. 'Rather, we view the summit as a gathering where a skilled immigrant could find their tribe, be opening doors to opportunities, and actually realize the American dream. In doing so, we urge immigrants to stand still once in a while and regain some humanity as they bond together instead of whirling in the whirlwind of visa applications and job searching all the time.' The summit's approach to framing the immigrant situation is beautifully bare-bones. Most professional events still mediate career development exclusively, but Open Atlas recognizes the emotional and psychological subtleties in establishing a new life in another land. Soundarya Balasubramani puts it beautifully: 'For me, this summit represents the combined power of immigrant talent in America. When we come together, we are not merely sharing stories-we are building the future for innovation.' Tennis great Vijay Amritraj will hold the opening keynote on 'The Champion's Mindset,' wherein he will correlate athletic excellence with immigrant resilience. The co-founder of Lyft will give a speech on tips for rising to the top as an immigrant in tech, and Kenny Sebastian, one of India's favorite comic talents, will entertain with a live stand-up routine. But it's really in workshops and intimate sessions where the genuine magic happens. A tech leader extraordinaire, Deedy Das will share with the attendees the knowledge of how in O-1 and EB-1A visa applications-who knows? It might well be the knowledge that changes a person's life. Mala Ramakrishnan goes further to paint a picture of breaking into tech and climbing the corporate ladder. These are tightly-marked practical roadmaps by those who have done it. This series is very timely and apt. Attendees qualify for one free legal consultation with an A-list immigration lawyer-these consultations normally charge hundreds per hour. The workshops address such topics as alternatives to the ever-tightening H-1B visa, the controversial strategy of suing the USCIS for delays in application processing, and yes, how to seriously start thinking about Canada as a Plan B-without many immigrants having this discussion openly. With a brilliant vision for the network, it is famous that such networking is done at the summit. Instead of the usual mix, Open Atlas Summit 2025 has considered having special lounges catering to different immigrant experiences. The Founder Lounge brings together entrepreneurs at various stages of their journey. The Extraordinary Lounge connects O-1 and EB-1 visa holders and aspirants. There is even an Immigrant Dating Lounge in partnership with DilMil, because finding love as an immigrant can pose some very unique challenges. The job fair solves a very real problem posed to international students and budding professionals. Being the only (about 50) visa-friendly corporations actively on the hiring spree, therefore, it is the largest of active such kinds within the US. It goes far beyond just job searching: companies get to connect with immigrant talent and really appreciate them. What makes Open Atlas Summit different is that it recognizes an intermediate phase many immigrants go through: here they have the family who is miles away, while there yet retaining their roots, maintaining a culture in the workplace, and granting a sense of belonging in foreign territory. Often sidestepped or ignored in the working world, these conversations form the very heart of the immigrant experience. The entrepreneurship track is equally comprehensive, featuring workshops on everything from bootstrapping to $1M ARR and pitch training for immigrant founders to startup-building for the Indian diaspora. 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With immigration policies forever changing and competition growing for talent visas, skilled immigrants have seldom needed the community and support more. Open Atlas Summit 2025 is going to provide that along with an atmosphere celebrating immigrant contributions to American innovation and success. The weekend will end with a DJ dance night since after two days of being drenched in learning and networking, the sometimes-hectic celebration is indeed deserved. Consider all sides of the human experience-professional, emotional, and social-and that is what the Open Atlas Summit provides-a niche into the conference landscape. Setting up the summit in Silicon Valley goes to show: more than 40% of those world-class companies were begun by immigrant entrepreneurs. Open Atlas Summit 2025 does not focus on just individual achievements; it focuses on unlocking potential America has within its immigrant talent. Organized by the skillful hands of Nikin Tharan and Soundarya Balasubramani that talent is in for an exceptional treatment.
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Business Standard
5 minutes ago
- Business Standard
Xi Jinping takes aim at US' protectionism in phone call with Brazil's Lula
Brazilian President Luiz Inacio Lula da Silva spoke with his Chinese counterpart following talks with the leaders of India and Russia, as part of his outreach to allies after Donald Trump thrust Latin America's biggest economy into the middle of his global trade war. A readout from Brazil's government said the two leaders spoke for about one hour and exchanged views on international affairs, including recent developments around the Russia-Ukraine war. Brazil's president, known universally as Lula, and Chinese leader Xi Jinping also agreed on 'upholding multilateralism' through the Group of 20 and Brics. During the phone conversation on Tuesday morning in Beijing, Xi called for coordinated efforts against unilateralism and protectionism — language usually used by China to criticise US trade policy. He said China supports the Brazilian people in safeguarding their country's legitimate rights, describing ties between the two nations as being 'at their best in history,' according to Chinese state broadcaster CCTV. China is willing to work with Brazil to strengthen coordination and set an example of 'unity and self-reliance among Global South nations,' CCTV cited Xi as saying. The call caps an effort by Lula to build solidarity across the Brics club of major emerging nations, of which Brazil is a founding member along with Russia, China and India. Lula spoke with Russian President Vladimir Putin and Indian Prime Minister Narendra Modi over the past few days, as Brazil came under pressure from the US. Brazil has become a target of Trump's trade war after he imposed higher tariffs in an effort to end the trial of former President Jair Bolsonaro on charges that he attempted a coup. Lula's government has responded by seeking to expand trade with other partners, especially with China, India and Southeast Asia. Xi's conversation with Lula also followed Trump's demand on Monday that China massively step up its purchases of US soybeans. Beijing has bought more of the legume from its top supplier Brazil in recent months, and is also testing trial cargoes of soybean meal from Argentina, to secure supplies of the animal feed ingredient. Trump on Tuesday extended a pause of sky-high levies on Chinese goods for another 90 days into early November. Even so, Brics countries are among the nations that were hit the hardest by higher US tariffs that went into effect last week. Brazil holds the Brics rotating presidency this year. Trump has slammed Brics as being anti-US. The group, established in 2009, expanded last year and now also includes Iran, the United Arab Emirates, Ethiopia and Egypt. Lula met Xi in May during a state visit to Beijing, where he signed more than 30 agreements for Chinese investment in mining, transport infrastructure and ports, among other deals.
Mint
5 minutes ago
- Mint
Sectoral fund inflows soar 1,882% MoM: A smart move or costly mistake by Indian retail investors amid Trump tariff war?
The retail investors seemed to be gung-ho on the Indian stock market despite the threat of a tariff war as they ploughed in a record ₹ 42,702 crore in July, making it the highest-ever monthly tally for the segment and a sharp 81% surge. The sectoral funds, grabbing the highest 15% share, recorded a whopping 1,882% increase month-on-month. The small-cap category recorded a 61% MOM growth to ₹ 6,484 crore, and commanded 10% of the overall inflows. This retail investor behaviour demonstrated both the strong attraction of past performance as well as the willingness to take risks. But is this a wise strategy for investors as tariffs unleashed by Donald Trump threaten to derail the Indian stock market? Taking historical data into consideration, analysts do not believe that it's a wise decision — especially for retail investors — to take concentrated positions in sectoral funds. Dr VK Vijayakumar said that while robust equity fund flows reflect the optimism of retail investors, the inflows into sectoral funds are signalling an unhealthy trend. "We know from experience that in the long run, thematic funds underperform. Not only do they underperform, but they're also highly risky," Dr Vijayakumar said. The newbies who have flocked into the market after the COVID crash are totally unaware of these market nuances, and that explains the inflows in this segment, he added. The last one-year returns of funds in the sectoral and thematic categories range from 19% to -17%, signalling that not all sectors perform equally. There are always outperforming sectors, neutral ones, and underperforming sectors. Echoing similar views, Ajit Mishra, SVP-Research, Religare Broking, said that sectoral funds are highly risky and if a particular sector takes a hit, it becomes very difficult to manage those positions. "We've seen such cases in the past with sectors like IT and pharma. Both underperformed for long periods, and IT is still facing pressure. So clearly, it's not a great strategy for retail investors. It should be more of a balanced approach," he advised. He explained that sometimes, people take short-term tactical positions —say, in defence-related stocks. But it's not a sound strategy for retail investors. However, amid Trump's tariff tantrum, G Chokkalingam, Founder of Equinomics Research, believes a sectoral approach is more relevant than ever. While sector-based investing has always mattered due to uneven performance across industries, this time, unique macro and domestic factors make it critical, he said. What makes this time different? Chokkalingam pointed to two key reasons: Trade War Impact: 'We haven't seen a global trade war of this scale in the last two to three decades,' he said. The implications are deeply sector-specific. For instance, textiles are among the worst-hit, followed by gems and jewellery. While US tariff hikes are broadly applied (25% across the board), for emerging markets like India, only select sectors—such as textiles and pharma—face the brunt. Shifting Domestic Trends: On the home front, traditionally defensive sectors like FMCG are faltering. Once a safe haven during downturns (even during the Lehman crisis), FMCG now shows consistent underperformance. Similarly, the auto sector is largely flat across segments, barring a few exceptions like M&M's tractor division. Two-wheelers and other categories continue to struggle with low growth. "Therefore, I believe mutual funds launching sectoral schemes are being smart, and investors opting for them are also quite aware of the current dynamics," Chokkalingam opined. However, he also advised against putting all your funds into one category. "If investors choose sector funds, they must diversify within the equity asset class. Unless they're professionals or have very high risk appetite, they should not allocate a major chunk of their equity investment to one sector," he advised. Don't put 50–100% of your equity portfolio in one sector fund, limit it to 15–20%, unless you have an extremely high risk tolerance, he said. Now, the question remains with Trump's massive tariffs on India (25% already in effect and another 25% to come into effect later this month on August 27), if Indian equity inflows can hold ground. Ajit Mishra of Religare said that last month, inflows were more of FOMO factor. "By June, we were talking about the market hitting new highs, and in July, that sentiment carried over. So yes, this could be a classic case of FOM, especially in small caps. Investors probably felt like they were missing the bus. But now, with earnings coming in, the reality is setting in. You could see some moderation in the numbers — particularly in the small- and mid-cap segments. Ultimately, earnings performance will drive the narrative," he said. However, Sunil Subramaniam, stock market veteran, believes strong buying support in equities will continue in August as nearly ₹ 57,000 crore (assuming 65% of Hybrid and 80% of Passives is in Equities) will be available to mutual funds to defend our market against the fluctuating FII behaviour. Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
