US official says differences with India cannot be resolved overnight for deal
President Donald Trump said on Wednesday Washington was still negotiating with India on trade after announcing earlier that day the U.S. would impose a 25% tariff on goods imported from the country starting on Friday.
The 25% figure would single out India more severely than other major trading partners, and threaten to unravel months of talks between the two countries, undermining a strategic partner of Washington's and a counterbalance to China.
"Our challenges with India, they've always been a pretty closed market... there are a host of other kind of geopolitical issues," the U.S. official said. "You've seen the president express concern about, you know, membership in BRICS, purchases of Russian oil and that kind of thing."
While saying there were constructive discussions with India, the official added: "These are complex relationships and complex issues, and so I don't think things can be resolved overnight with India."
India has faced pressure from the West, including the U.S., to distance itself from Moscow after Russia invaded Ukraine in early 2022. New Delhi resisted that pressure, citing its longstanding ties with Russia and its economic needs, opens new tab.
Trump has cast the BRICS group of developing nations - of which India is a key part - as hostile to the U.S. Those nations have dismissed that accusation and the group says it promotes the interests of its members and of developing countries at large.
Trump has also drawn India's frustration by repeatedly taking credit for an India-Pakistan ceasefire that he announced on social media on May 10. The ceasefire halted days of hostilities between the nuclear armed Asian neighbors.
India's position has been that New Delhi and Islamabad must resolve their issues directly without outside involvement.
Trump has reached a trade deal with India's rival Pakistan.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
North Wales Chronicle
17 minutes ago
- North Wales Chronicle
Trump could meet Putin as soon as next week, White House official says
The official cautioned that a meeting has not been scheduled yet and no location has been determined. The official was not authorised to speak publicly and spoke to The Associated Press on condition of anonymity to discuss internal plans. The White House said Mr Trump was also open to a meeting with both Mr Putin and Ukrainian President Volodymyr Zelensky. A meeting between Mr Putin and Mr Trump would be their first since Mr Trump returned to office this year. It would be a significant milestone in the three-year-old war, though there is no promise such a meeting would lead to the end of the fighting since Russia and Ukraine remain far apart on their demands. News of a potential meeting with Mr Putin, which was first reported by The New York Times, came hours after Mr Trump's special envoy Steve Witkoff met Mr Putin in Moscow. Mr Trump had posted earlier on Truth Social that Mr Witkoff 'had a highly productive meeting' with Mr Putin in which 'great progress was made'. It was not immediately clear if Mr Putin or Mr Zelensky had agreed to any meetings with Mr Trump. Mr Zelensky has been willing to meet face-to-face with Mr Putin to end the conflict, but Russia has repeatedly rejected the idea. Mr Trump has met Mr Zelensky several times this year, including a contentious February meeting in Washington. Though he has not yet met Mr Putin this year, Mr Trump met with him five times during his first term. Mr Trump said earlier on Wednesday that he updated America's allies in Europe and that they will work toward an end to the Russia-Ukraine war 'in the days and weeks to come'. White House press secretary Karoline Leavitt said: 'The Russians expressed their desire to meet with President Trump, and the President is open to meeting with both President Putin and President Zelensky.' Her statement did not address the potential timing of any meeting. Mr Witkoff met Mr Putin days before the White House's deadline for Russia to reach a peace deal with Ukraine or potentially face severe economic penalties that could also hit countries buying its oil. The meeting between Mr Putin and Mr Witkoff lasted about three hours, the Kremlin said. Mr Putin's foreign affairs adviser Yuri Ushakov said Mr Putin and Mr Witkoff had a 'useful and constructive conversation' that focused on the Ukrainian crisis and, in a nod toward improving relations between Washington and Moscow, 'prospects for possible development of strategic co-operation' between the United States and Russia.
Reuters
18 minutes ago
- Reuters
BTC Miner Emerges as a Passive Income Alternative to Traditional AI and Crypto Investments
NEW YORK, NY, August 6, 2025 (EZ Newswire) -- While headlines focus on AI stocks, ETFs and tokenized real estate, a growing number of everyday investors are turning to something simpler—and, for some, far more profitable: BTC Miner, opens new tab, a cloud mining platform offering hands-free crypto earnings. While traditional markets tout annual gains of 10%, BTC Miner users are reportedly earning up to 6.63% daily, with profits delivered directly to their wallets—no trading experience or mining hardware required. A Set-It-and-Forget-It System With Daily Payouts BTC Miner simplifies the traditional mining process. There are no rigs, no noise, and no technical setup. Users choose from short-term contracts—some as brief as one day—and fund them with their preferred cryptocurrency, including USDT, BTC, ETH, LTC, USDC, BNB, XRP, DOGE, BCH or SOL. Profits are automatically calculated and paid out every 24 hours. Users can withdraw or reinvest earnings at any time. Entry-level contracts start at just $200, and the most popular plans advertise daily returns of up to 6.63%. Is 6.63% Per Day Too Good to Be True? Skepticism is common—but BTC Miner emphasizes security, transparency and responsible operations: While ETH Surges, BTC Miner Users Are Already Profiting Ethereum is up more than 25% this month. But instead of holding and waiting for a market shift, BTC Miner users are already cashing in—with daily, automated returns that don't rely on speculation or technical analysis. This isn't about chasing bull markets. It's about earning consistent income—regardless of market direction. Passive Income in 2025, Not the Hype of 2017 As many investors wait for the next halving cycle or regulatory breakthrough, BTC Miner offers an alternative: up to 6.63% daily returns, with no manual trading, no guesswork and no complicated setup. Visit create a free account, select your plan, and begin earning. About BTC Miner BTC Miner is a global leader in cloud mining, committed to providing efficient, secure and transparent services. The platform supports contract mining for a variety of popular cryptocurrencies, enabling users to earn passive income through simple online operations. BTC Miner leverages advanced cloud computing technology and AI-powered optimization algorithms to deliver high returns with low risk. For more information, visit opens new tab. Disclaimer The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. Cryptocurrency mining and staking involve risk. There is potential for loss of funds. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. ### SOURCE: Copyright 2025 EZ Newswire See release on EZ Newswire
Reuters
18 minutes ago
- Reuters
Indian shares set for muted open after Trump doubles tariff
MUMBAI, Aug 7 (Reuters) - Indian shares are poised for a muted start on Thursday after the United States imposed an additional 25% tariff on exports from the South Asian nation, sparking investor concerns over the potential economic fallout from souring relations. Gift Nifty futures were trading at 24,586 points as of 7:05 a.m. IST, indicating that the Nifty 50 (.NSEI), opens new tab will open near Wednesday's close of 24,574.2. The one-month dollar-rupee non-deliverable forwards (NDF) indicate that the Indian currency is set to open largely unchanged from its last close. "Markets can fall 1%-2% in a knee-jerk reaction, but most would expect a resolution to the trade issue," said Dhiraj Relli, chief executive officer of HDFC Securities. If tariffs persist for a year, the impact on India's GDP growth will be around 30-40 basis points, he said. Before the additional tariffs were announced on Wednesday, the Reserve Bank of India (RBI) retained its GDP growth forecast for the year at 6.5%, downplaying tariff-related uncertainties. The doubling of tariffs to 50% - among the highest imposed on any U.S. trading partner - coupled with worsening bilateral ties could shake markets out of their complacency, Nilesh Shah, CEO of Kotak Mahindra Asset Management Company, said. "Some correction" is inevitable if the tariffs hold, he added. Foreign investors have offloaded Indian shares worth $900 million so far in August, following $2 billion in outflows in July as weak earnings growth and tariff-related uncertainties weighed. "I would be very reluctant to buy into India or have a company that has supplies coming out of India. It would make me very cautious," said Max Wasserman, founder and senior portfolio manager at U.S.-headquartered Miramar Capital. Wasserman said he does not expect the tariffs to hold for long but the announcement "would definitely give us a pause if we were looking to invest in India because we want to see how the relationship shakes out." India's benchmark equity indexes Nifty 50 and Sensex (.BSESN), opens new tab have gained 4% and 3%, respectively, so far in 2025, underperforming the 15.7% rise in MSCI Emerging Markets index (.MIEF00000PUS), opens new tab. The fresh U.S. tariffs threaten to disrupt India's access to its largest export market, where shipments totalled nearly $87 billion in 2024, dealing a blow to sectors like textiles, footwear, gems and jewellery. Oil companies like Reliance Industries ( opens new tab could also come under pressure as the U.S. tries to push India to curb its Russian oil purchases. "If we cave under pressure, we risk losing access to cheaper Russian crude, which could squeeze refining margins. That's a risk for Reliance and oil marketing companies," said Pramod Gubbi, co-founder at Marcellus Investment Managers. Textiles could take a direct hit, although jewellery exports may be in a better position to pass on higher costs to U.S. consumers as India remains a dominant player in diamond cutting and polishing, Gubbi said. IT services and pharmaceutical firms are less impacted for now, he added.
