Taiwan President highlights growing defense strength while observing tank live-fire drill
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Bloomberg
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How the US Weaponized Pakistan Against India
Many in New Delhi welcomed President Donald Trump's return to power, expecting him to take the Indo-US relationship to new heights. They must wonder where it all went wrong, given that Trump launched an unprecedented broadside against India this week — threatening tariffs of 25% and warning that a surcharge would be added unless India stops buying Russian oil and weapons. He even expressed dissatisfaction with the nation's participation in the 'anti-US' BRICS grouping. Normally, Prime Minister Narendra Modi might just overlook a few social media posts. It may be humiliating to wind up with higher tariff rates than India's peers after wooing Trump, but that can be shrugged off as well. Yet the president didn't stop at trade. He twisted the knife by announcing a tariff deal with Pakistan on the very same day — and added that US companies would help India's troubled neighbor extract oil from recently discovered reserves, and that ' maybe they'll be selling oil to India one day.'
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Yahoo
an hour ago
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South Korea July exports beat forecast on strong chip demand
SEOUL (Reuters) -South Korea's exports rose for the second straight month in July, beating market expectations on strong chip demand, trade data showed on Friday. Exports from Asia's fourth-largest economy, an early bellwether for global trade, rose 5.9% from the same month last year to $60.82 billion, stronger than the 4.3% increase in June and a 4.6% forecast for July in a Reuters poll of economists. In July, there were signs of front-loading ahead of an August 1 deadline for higher U.S. tariffs, economists said. President Donald Trump signed an executive order on Thursday imposing reciprocal tariffs ranging from 10% to 41% on U.S. imports from dozens of countries and foreign locations. With South Korea, Trump signed a trade deal on Wednesday lowering tariffs to 15% from a threatened 25%, which officials, companies and economists cheered for reducing uncertainty over the trade environment. Exports of semiconductors jumped 39.3% in July, the biggest annual increase since October 2024, while cars rose 8.8% on robust demand in non-U.S. markets. Ship exports surged 107.6%. By destination, shipments to the U.S. rose 1.4%, as growing technology demand offset the impact of Trump's tariffs on steel and auto parts. Exports to China fell 3.0%, while those to the European Union rose 8.7%. Imports rose 0.7% in July to $54.21 billion, compared with a gain of 4.3% in June and 2.0% expected by economists. The monthly trade balance stood at a surplus of $6.61 billion, narrower than the previous month's $9.08 billion, which was the biggest since September 2018. 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
