Trump to Apple: 'Don't expand production in India'
Amid ongoing trade negotiations sparked by his own
tariff war
, US President
Donald Trump
said he does not want
Apple
to manufacture in India, a message he conveyed directly to CEO
Tim Cook
.
Speaking at an event with business leaders in Qatar on Thursday, Trump said he spoke to Cook about reprioritising the US. 'I said I don't want you building in India. India can take care of themselves, they are doing very well.'
As a result of their discussion, Trump said Apple will be 'upping their production in the United States.'
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Dream Kitchen Within Reach? See How
HomeLane
Get Quote
Undo
Trump, who is on a four-day tour of the Gulf states, also revealed that India offered a trade deal to the US which would see "basically zero tariffs" on a broad range of American goods.
"It is very hard to sell in India, and they are offering us a deal where basically they are willing to literally charge us no tariffs," Trump said.
Live Events
New Delhi is seeking to clinch a trade deal with the US within the 90-day pause announced by Trump on April 9 on tariff hikes for major trading partners, which had included a 26% tariff on India.
Discover the stories of your interest
Blockchain
5 Stories
Cyber-safety
7 Stories
Fintech
9 Stories
E-comm
9 Stories
ML
8 Stories
Edtech
6 Stories
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
15 minutes ago
- Time of India
The rise of ETFs in India: Why Gen Z is saying no to fees
India's financial landscape is undergoing a remarkable transformation, propelled by a new wave of investors reshaping how wealth is built and managed. At the forefront of this change is Generation Z—digital natives born into a connected world—whose investment preferences are clear: they value transparency , flexibility, and cost-efficiency. As a result, Exchange-Traded Funds ( ETFs ) have emerged as the preferred investment vehicle for young Indians, marking a decisive shift away from traditional, fee-heavy models. Gen Z's investment ethos: Value, transparency, and control India's economic optimism is tangible, with projected GDP growth of 6-7% annually, on the heels of a record number of IPOs in FY2024-25. The country's increasing presence in global equity indices further highlights its rising influence on the world stage. Against this backdrop, Gen Z investors are making their mark—digitally savvy, financially informed, and deeply conscious of the value they receive for every rupee invested. Best MF to invest Looking for the best mutual funds to invest? Here are our recommendations. View Details » by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo ETFs align perfectly with this ethos. While traditional mutual funds have been popular for decades, they often come with management fees and hidden charges that can quietly chip away at returns. Conversely, ETFs offer a low-cost , passive investment approach, with expense ratios significantly lower than those of actively managed funds. Over the long term, this cost advantage can lead to substantially higher net returns—especially for young investors with extended investment horizons. Transparency and liquidity are equally vital to Gen Z. Traded on stock exchanges, ETFs provide real-time pricing and the flexibility to buy or sell during market hours. This level of control and visibility resonates with a generation accustomed to instant access and seamless digital experiences. Additionally, ETFs offer built-in diversification, allowing investors to gain exposure to a broad basket of stocks or bonds through a single instrument—simplifying portfolio management and risk mitigation. Live Events The digital dividend and global trends India's digital revolution has democratized access to financial markets. Widespread smartphone usage, the rise of fintech platforms, and supportive regulations for digital onboarding have made investing more accessible than ever. Raised in an environment of apps and algorithms, Gen Z naturally gravitates toward investment products that are easy to understand, access, and manage. Globally, the popularity of ETFs is on the rise. India's share in major emerging market ETFs has grown significantly—now accounting for over 20% of the Vanguard FTSE Emerging Markets ETF (VWO), double its share from five years ago. This shift reflects increasing international confidence in India's economic prospects and the sophistication of Indian investors aligning their portfolios with global best practices. For Gen Z, avoiding high fees is about more than saving money; it's about maximizing value and ensuring their investments work as hard as they do. In an era of abundant information and diverse options, paying high management fees for average performance is no longer acceptable. ETFs, with their low-cost structure, empower investors to retain more of their returns and compound wealth more effectively over time. Over the past decade, ETFs as a category have delivered robust returns, often closely tracking the performance of the broader equity markets they represent. For example, global equity ETFs have historically mirrored the long-term gains of major stock indices, with average annualized returns in the range of 7-10% over extended periods, depending on the market and asset class. Analysis of ETF portfolios from 2007 to 2024 shows that ETFs posted positive returns in roughly two-thirds of all months, demonstrating both resilience and the potential for steady wealth accumulation over time. While individual ETF performance varies, the overall track record underscores why so many investors—especially the younger generation—are gravitating toward these low-cost, diversified vehicles for long-term growth. Challenges and the road ahead While the ETF revolution is promising, challenges remain. India's complex capital gains tax regime—such as the 12.5% annual tax on unrealized gains—can impact net returns. Investors must understand these nuances and seek professional advice when necessary. Nonetheless, the overall trajectory is clear: ETFs are poised to become central to India's wealth creation story. This shift signifies more than a trend; it marks a paradigm change in how Indians, especially the young, approach investing. As India's economy continues to grow and markets mature, ETFs will play an increasingly vital role. For Gen Z, the message is straightforward: invest smartly, keep costs low, and harness technology to build a secure financial future. At HDFC Securities, we are dedicated to equipping this new generation of investors with the tools, knowledge, and platforms they need to succeed. The future of investing in India is bright, and ETFs are leading the way. (The author, Dhiraj Relli is the MD & CEO at HDFC Securities) ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Mint
16 minutes ago
- Mint
Bank of Maharashtra to Crompton Greaves - Vinay Rajani of HDFC Sec suggests these 3 stocks to buy in the near-term
Stock market today: The Indian stock markets began the new week on a downbeat trend, influenced by global worries in spite of solid domestic GDP data. The benchmark indices fell as investor sentiment was affected by the renewed tariff threats from US President Donald Trump. At 12:34 IST, the Nifty 50 index was trading at 24,715 . 95, showing a drop of 35.70 points or 0.15%. Sensex was trading lower at 81,325.42, decreasing by 125.59 points or 0.15%. This pressure emerged following Trump's announcement to modify tariffs on steel and aluminum, which has rekindled fears of a trade conflict and economic pressures. Market analysts pointed out that although India's macroeconomic fundamentals are robust, as demonstrated by the strong GDP figures, the external challenges posed by the US tariff adjustments have overshadowed domestic gains. The potential for a broader impact on global trade and capital movements has led investors to exercise caution. Vinay Rajani of HDFC Securities recommends Bank of Maharashtra, Crompton Greaves Consumer Electricals Ltd, and City Union Bank Ltd. Check out his overall market views. Nifty 50 continued its consolidation for the second consecutive week with a weekly fall of 0.41%. Bank Nifty managed to outperform Nifty 50 with a gain of 0.33% and closed at an all-time high. Sectoral indices like PSU Bank, Capital market and Defense outperformed the benchmark with the weekly gain of 4.08%, 3.35% and 2.73% respectively. Indices like FMCG, tourism, and commodities underperformed by falling 2.16%, 1.90% and 1.61% respectively. The Nifty Microcap250 index rose 1.47% and managed to outperform Nifty 50 with a good margin. Nifty 50 has been protecting its level above 20 days EMA and SMA, placed 20,630 and 20,692 respectively. A level above all key moving averages indicates a bullish trend on all time frames for Nifty 50. Any level above 25,116 would confirm the bullish breakout from the consolidation. The lower band of the consolidation is placed near 24,400 levels, below which short term would turn bearish. Above 25,116, Nifty 50 could move towards immediate resistance of 25,300 odd levels, which happens to be 78.6% retracement of the entire fall seen from all time high of 26277 to recent swing low of 21743. Above 25300, We expect Nifty 50 to hit a new all-time high above 26277 and go beyond. Midcap and Microcap indices have been showing strength, which shows the strong breadth in the market. The Bank Nifty index has closed at fresh all-time highs with recent outperformance. Both PSU and Private bank stocks are looking strong on the chart and likely to take a lead in the coming sessions. Nifty Capital Market index has given a fresh breakout above its previous all-time highs. Considering the momentum and the chart setup, this index is likely to extend its gain in the coming days. Ratio Chart of Copper v/s Gold indicates that Copper should start outperforming gold from here for the medium to long term. Historically, Copper used to have a positive correlation with equity markets. Primary trend is bullish but short-term consolidation is going on in the Nifty 50. Traders should continue to hold on to the long positions with 24,462 stoploss in the Nifty 50. Any level above 25,116 will confirm the fresh bullish breakout. Above 25,116, we can expect Nifty 50 to extend the rise towards 25,300. Above 25,300 Nifty 50 could register fresh all-time highs. Vinay Rajani of HDFC Securities recommends these three stocks in the near term - Bank of Maharashtra, Crompton Greaves Consumer Electricals Ltd, and City Union Bank Ltd. Bank of Maharashtra share price surged 6% on 30 th May with big jump in volumes. Stock has been in to a primary uptrend as it has been sustaining above its key moving averages. PSU Bank index has broken out from the consolidation on the medium-term chart. Weekly MACD is now placed above signal and equilibrium line. Breakout from Symmetrical triangle pattern on the weekly chart. City Union Bank share price has been sustaining above 200 DEMA resistance. Stock price is now placed above 20, 50 and 200 days EMA. Monthly RSI has reached above 50, indicating sustainable up trend. Weekly MACD is now placed above signal and equilibrium line On week ended 16 th May 2025, Crompton Consumer share price broke out from downward sloping trend line on the weekly chart. Price rise was accompanied by a jump in volumes. Stock price has been sustaining above 50 DEMA resistance. Weekly RSI has reached above 50, indicating a sustainable up trend. Weekly MACD is now placed above signal line. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Time of India
18 minutes ago
- Time of India
India-US trade pact: Effort on to facilitate preferential market access for both sides, says Piyush Goyal
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel India and the United States are keen on providing preferential market access to each other's businesses, with teams from both nations collaborating on a proposed bilateral trade agreement, Commerce Minister Piyush Goyal said on June 2. In February, Donald Trump and Narendra Modi underlined the two sides' intentions to negotiate the initial phase of a mutually advantageous multi-sector Bilateral Trade Agreement (BTA) by the fall of 2025, specifically targeting agreement aims to increase bilateral trade from the current figure of $191 billion to $500 billion by the year told reporters in Paris, during an official visit, that both nations are dedicated to collaborating and that there is a mutual desire to provide preferential access to each other's response to a question regarding Trump's announcement to raise tariffs on steel and aluminum to 50 per cent, Goyal stated that both countries will continue to work on resolving such issues through bilateral discussions."Let's wait and see; both the US and India share a positive relationship and will persist in resolving these matters through dialogue," Goyal specialists have indicated that the Trump administration's potential increase in import duties could adversely affect Indian exporters, particularly those involved in value-added steel products and auto May 30, Trump declared his plan to raise the existing 25 per cent tariffs on steel and aluminum imports, effective June 4. The initial tariffs were invoked in 2018, with a 25 per cent tariff on steel and 10 per cent on aluminum, which was later raised to 25 per cent on aluminum in February the fiscal year 2024-25, India exported iron, steel, and aluminum products worth $4.56 billion to the US, with key exports including $587.5 million in iron and steel, $3.1 billion in iron or steel articles, and $860 million in aluminum and related has also lodged a formal complaint with the World Trade Organization (WTO), asserting its right to impose retaliatory tariffs on American goods in reaction to the previous steel tariffs. This week, a delegation of US officials is visiting India to discuss the proposed interim trade agreement between the two significance of this visit is heightened by the expectation that India and the US may reach an interim trade agreement by the end of June, with India advocating for a complete exemption from the 26 per cent reciprocal tariff on domestic Agrawal, India's chief negotiator and Special Secretary in the Department of Commerce, concluded a four-day visit to Washington last month, where he engaged in discussions with his US counterpart regarding the proposed agreement. Goyal was also in Washington to further advance trade negotiations. There is a possibility that both nations might finalize an interim trade deal prior to the first phase the fourth consecutive year in 2024-25, the US maintained its status as India's largest trading partner, with bilateral trade reaching $131.84 billion. The US contributes approximately 18 per cent to India's total goods exports, 6.22 per cent to imports, and 10.73 per cent to the overall merchandise trade of the India's free trade agreement with the four-nation European bloc EFTA, Goyal clarified that the $100 billion foreign direct investment (FDI) commitment under this agreement does not account for funds entering the stock market through foreign institutional investors (FIIs)."This represents solid FDI coming into the nation... This $100 billion in FDI is accompanied by technologies... It will likely catalyze approximately $500 billion in investments," he stated. He emphasized that such investments would foster the development of a comprehensive ecosystem, leading to the establishment of hotels, infrastructure, and the utilization of power and water resources, thus significantly contributing to the economy. The implementation of this pact is advancing rapidly, with expectations for it to be operational by the year's Trade and Economic Partnership Agreement (TEPA) was signed by the two sides on March 10, 2024. Under this agreement, India has secured an investment pledge of $100 billion over 15 years from the grouping, while allowing several products, including Swiss watches, chocolates, and cut and polished diamonds, to be imported at lower or zero members of the European Free Trade Association (EFTA) include Iceland, Liechtenstein, Norway, and Switzerland. When queried about the possibility of a similar arrangement in the proposed trade pact with the 27-nation EU bloc, Goyal remarked, "The member countries are significant investors in India, so we may not pursue that avenue in our FTA with the EU."
