India estimates about 55% of goods exported to US will face Trump tariff
Last week, Trump imposed an additional 25 per cent tariff on Indian goods as punishment for Delhi's purchases of Russian oil. That raised the total duty on Indian exports to the US to 50 per cent – among the highest on any American trading partner.
The Indian government had taken into account the 25 per cent tariff that Trump initially imposed on goods while providing Monday's estimate, Pankaj Chaudhary, India's junior finance minister, said in a written response to a question from a lawmaker.
'The Department of Commerce is engaged with all stakeholders including exporters and industry for taking feedback of their assessment of the situation,' Chaudhary added.
Goods trade between the United States and India – the world's biggest and fifth-largest economies respectively – was worth about US$87 billion in the last fiscal year, according to Indian government estimates. REUTERS
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Straits Times
13 minutes ago
- Straits Times
Takeaways: Warm words contrast with cold reality of no deal at Trump-Putin summit
Sign up now: Get ST's newsletters delivered to your inbox US President Donald Trump and Russia President Vladimir Putin shake hands as they met at Joint Base Elmendorf-Richardson in Anchorage, Alaska, on Aug 15. US President Donald Trump and Russian President Vladimir Putin exchanged warm words on Aug 15 but left the much-anticipated Alaska summit without an agreement to end Moscow's war against Ukraine and gave no details about what they discussed. Here are some takeaways from the talks: Body language and praise There was no lack of warmth between the two leaders when they met on the tarmac shortly after landing at a US military base in Alaska. Mr Trump and Mr Putin greeted each other like old friends on a red carpet rolled out for their first meeting since 2019. They shook hands, smiled broadly and touched each other on the arm in an expression of apparent affection. That warmth seemed to have waned when they appeared before the media hours later, though both men still took pains to praise each other. Mr Trump, who was hosting the summit, deferred to Mr Putin, who spoke first and said he was glad to see Mr Trump alive, a reference to the assassination attempt the US leader survived last year. Mr Trump said he had always had a fantastic relationship with the Kremlin chief, referred to him by his first name and called Mr Putin's words profound. Gone was any mention of Mr Trump's frustration with Putin over the war he initiated in 2022 or the threat of sanctions if no moves are made to end it. But their efforts to project a positive personal relationship belied an underlying truth: Griendship aside, they did not announce an agreement to end the war. Deal or no deal Hours before he met Mr Putin, Mr Trump said his goal for the summit was a halt to the fighting between Russia and Ukraine. Hours later, when the leaders emerged from their meeting with advisers, no such deal had materialised. Top stories Swipe. Select. Stay informed. World Trump advises Ukraine's Zelensky to 'make a deal' with Russia after meeting Putin World Made-for-TV pageantry in Alaska as Trump brings Putin in from the cold Singapore Nowhere to run: Why Singapore needs to start protecting its coasts now Singapore Using nature, multi-use structures among solutions being studied to protect Singapore coastlines Life Meet those in Singapore changing careers in middle age and beyond Singapore HSA evaluating rapid urine test kits to enable faster detection of etomidate, found in Kpods Asia Move over, Labubu – Chiikawa is the new craze in Hong Kong 'We really made some great progress today,' Mr Trump told reporters without elaborating. 'There's no deal until there's a deal.' Before the summit, he and his advisers had sought to downplay expectations of a breakthrough, a far cry from his vow as a presidential candidate to end the war in 24 hours. But Mr Trump made clear he wanted a ceasefire pact, and the backdrops at the summit venue said 'Pursuing Peace'. Mr Trump left Alaska with little to show for his efforts, puncturing a hole in his dealmaker-image and depriving him of an accomplishment to tout in his not-so-subtle campaign for the Nobel Peace Prize. Decoding Putin, throwing Biden under the bus Mr Putin showed a mastery of saying things Mr Trump likes to hear, even without giving significant ground. He gave credence to Mr Trump's unproven assertion that had Mr Trump been president four years ago instead of Democrat Joe Biden, the war in Ukraine would never have started. 'I'm quite sure it would indeed be so,' he said. Russia invaded Ukraine under Mr Putin's direction. Mr Biden warned him not to. Despite playing into Mr Trump's theory on the origins of the war, M Putin signalled that the Ukraine conflict was a ways away from being solved. 'In order to make the settlement last long-term we need to eliminate all the roots of that conflict,' he said. 'Russia has its own national interests.' While he did not give details, he has long told local audiences that Nato's eastward expansion was the main cause of the war because it put his country's survival at risk, a view the Western military alliance rejects. Mr Putin has committed to fight until he could guarantee a Ukraine that is demilitarised and neutral. With those goals far from reach, Mr Putin's focus on Aug 15 on 'the roots of that conflict' and 'national interests' suggest he is prepared to fight on. No questions At their 2018 summit in Helsinki, under questioning from US journalists, Mr Trump sided with Mr Putin over US intelligence agencies about allegations that Russia intervened in the 2016 election and blamed both Washington and Moscow for the deterioration in US-Russia relations. His words drew sharp criticism from Democrats and Republicans at home. Mr Putin, meanwhile, confirmed he had wanted Mr Trump to win the 2016 election. The two leaders avoided the chance for mishaps in front of the media on Aug 15. After making statements, they declined to take questions, depriving reporters of a chance to probe for details about their talks. But Mr Putin got a win with the invitation alone. The Russian president has been ostracised by other world leaders, so his meeting with the most powerful man in the world was a victory for the former KGB spy, and his seeming satisfaction with that showed. REUTERS
Straits Times
13 minutes ago
- Straits Times
Warm words contrast with cold reality of no deal at Trump-Putin summit
U.S. President Donald Trump and Russian President Vladimir Putin hold a press conference following their meeting to negotiate an end to the war in Ukraine, at Joint Base Elmendorf-Richardson in Anchorage, Alaska, U.S., August 15, 2025. REUTERS/Jeenah Moon U.S. President Donald Trump and Russian President Vladimir Putin exchanged warm words on Friday but left the much anticipated Alaska summit without an agreement to end Moscow's war against Ukraine and gave no details about what they discussed. Here are some takeaways from the talks: BODY LANGUAGE AND PRAISE There was no lack of warmth between the two leaders when they met on the tarmac shortly after landing at a U.S. military base in Alaska. Trump and Putin greeted each other like old friends on a red carpet rolled out for their first meeting since 2019. They shook hands, smiled broadly and touched each other on the arm in an expression of apparent affection. That warmth seemed to have waned when they appeared before the media hours later, though both men still took pains to praise each other. Trump, who was hosting the summit, deferred to Putin, who spoke first and said he was glad to see Trump alive, a reference to the assassination attempt Trump survived last year. Trump said he had always had a fantastic relationship with the Kremlin chief, referred to him by his first name and called Putin's words profound. Gone was any mention of Trump's frustration with Putin over the war he initiated in 2022 or the threat of sanctions if no moves are made to end it. But their efforts to project a positive personal relationship belied an underlying truth: friendship aside, they did not announce an agreement to end the war. Top stories Swipe. Select. Stay informed. World Trump advises Ukraine's Zelensky to 'make a deal' with Russia after meeting Putin World Made-for-TV pageantry in Alaska as Trump brings Putin in from the cold Singapore Nowhere to run: Why Singapore needs to start protecting its coasts now Singapore Using nature, multi-use structures among solutions being studied to protect Singapore coastlines Life Meet those in Singapore changing careers in middle age and beyond Singapore HSA evaluating rapid urine test kits to enable faster detection of etomidate, found in Kpods Asia Move over, Labubu – Chiikawa is the new craze in Hong Kong DEAL OR NO DEAL Hours before he met Putin, Trump said his goal for the summit was a halt to the fighting between Russia and Ukraine. Hours later, when the leaders emerged from their meeting with advisers, no such deal had materialized. "We really made some great progress today," Trump told reporters without elaborating. "There's no deal until there's a deal." Before the summit, Trump and his advisers had sought to downplay expectations of a breakthrough, a far cry from his vow as a presidential candidate to end the war in 24 hours. But Trump made clear he wanted a ceasefire pact, and the backdrops at the summit venue said "Pursuing Peace." Trump left Alaska with little to show for his efforts, puncturing a hole in his dealmaker-image and depriving him of an accomplishment to tout in his not-so-subtle campaign for the Nobel Peace Prize. DECODING PUTIN, THROWING BIDEN UNDER THE BUS Putin showed a mastery of saying things Trump likes to hear, even without giving significant ground. He gave credence to Trump's unproven assertion that had Trump been president four years ago instead of Democrat Joe Biden, the war in Ukraine would never have started. "I'm quite sure it would indeed be so," he said. Russia invaded Ukraine under Putin's direction. Biden warned him not to. Despite playing into Trump's theory on the origins of the war, Putin signaled that the Ukraine conflict was a ways away from being solved. "In order to make the settlement last long-term we need to eliminate all the roots of that conflict," Putin said. "Russia has its own national interests." While Putin didn't give details, he has long told local audiences that NATO's eastward expansion was the main cause of the war because it put his country's survival at risk, a view the Western military alliance rejects. Putin has committed to fight until he could guarantee a Ukraine that's demilitarized and neutral. With those goals far from reach, Putin's focus on Friday on "the roots of that conflict" and "national interests" suggest he is prepared to fight on. NO QUESTIONS At their 2018 summit in Helsinki, under questioning from U.S. journalists, Trump sided with Putin over U.S. intelligence agencies about allegations that Russia intervened in the 2016 election and blamed both Washington and Moscow for the deterioration in U.S.-Russia relations. His words drew sharp criticism from Democrats and Republicans at home. Putin, meanwhile, confirmed he had wanted Trump to win the 2016 election. The two leaders avoided the chance for mishaps in front of the media on Friday. After making statements, they declined to take questions, depriving reporters of a chance to probe for details about their talks. But Putin got a win with the invitation alone. The Russian president has been ostracized by other world leaders, so his meeting with the most powerful man in the world was a victory for the former KGB spy, and his seeming satisfaction with that showed. REUTERS
Straits Times
13 minutes ago
- Straits Times
Trump says no imminent plans to penalise China for buying Russian oil
Sign up now: Get ST's newsletters delivered to your inbox Chinese President Xi Jinping's slowing economy will suffer if Mr Donald Trump follows through on a promise to ramp up Russia-related sanctions and tariffs. WASHINGTON - US President Donald Trump said on Aug 15 he did not immediately need to consider retaliatory tariffs on countries such as China for buying Russian oil but might have to 'in two or three weeks'. Mr Trump has threatened sanctions on Moscow and secondary sanctions on countries that buy its oil if no moves are made to end the war in Ukraine. China and India are the top two buyers of Russian oil. The president last week imposed an additional 25 per cent tariff on Indian goods, citing its continued imports of Russian oil. However, Mr Trump has not taken similar action against China. He was asked by Fox News' Sean Hannity if he was now considering such action against Beijing after he and Russian President Vladimir Putin failed to produce an agreement to resolve or pause Moscow's war in Ukraine. 'Well, because of what happened today, I think I don't have to think about that,' Mr Trump said after his summit with Putin in Alaska. Top stories Swipe. Select. Stay informed. World Trump advises Ukraine's Zelensky to 'make a deal' with Russia after meeting Putin World Made-for-TV pageantry in Alaska as Trump brings Putin in from the cold Singapore Nowhere to run: Why Singapore needs to start protecting its coasts now Singapore Using nature, multi-use structures among solutions being studied to protect Singapore coastlines Life Meet those in Singapore changing careers in middle age and beyond Singapore HSA evaluating rapid urine test kits to enable faster detection of etomidate, found in Kpods Asia Move over, Labubu – Chiikawa is the new craze in Hong Kong 'Now, I may have to think about it in two weeks or three weeks or something, but we don't have to think about that right now. I think, you know, the meeting went very well.' Chinese President Xi Jinping's slowing economy will suffer if Mr Trump follows through on a promise to ramp up Russia-related sanctions and tariffs. Mr Xi and Mr Trump are working on a trade deal that could lower tensions - and import taxes - between the world's two biggest economies. But China could be the biggest remaining target, outside of Russia, if Mr Trump ramps up punitive measures. REUTERS
