logo
Don't give China a pass and burn relationship with strong ally like India: Nikki Haley on Trump's tariff threat

Don't give China a pass and burn relationship with strong ally like India: Nikki Haley on Trump's tariff threat

First Post2 hours ago
Nikki Haley has criticised President Donald Trump's threat to raise tariffs on Indian imports over Russian oil trade, accusing him of giving China a pass. read more
Nikki Haley, former US Ambassador to the United Nations, has criticised President Donald Trump for his remarks about significantly increasing tariffs on Russian oil imports from India, accusing him of giving 'China a pass' and warning against damaging ties with 'a strong ally like India'.
In a post on X, Haley said that China, a key adversary of the United States and 'number one buyer of Russian and Iranian oil,' had been granted a 90-day tariff pause by the Trump administration.
STORY CONTINUES BELOW THIS AD
'India should not be buying oil from Russia. But China, an adversary and the number one buyer of Russian and Iranian oil, got a 90-day tariff pause. Don't give China a pass and burn a relationship with a strong ally like India,' she said.
India should not be buying oil from Russia. But China, an adversary and the number one buyer of Russian and Iranian oil, got a 90-day tariff pause. Don't give China a pass and burn a relationship with a strong ally like India. — Nikki Haley (@NikkiHaley) August 5, 2025
On Tuesday, Trump stated that he would raise tariffs on Indian imports from the current 25% rate 'very substantially' within 24 hours due to New Delhi's continued purchase of Russian oil, according to Reuters.
'They're fuelling the war machine, and if they're going to do that, then I'm not going to be happy,' Trump told CNBC in an interview, as quoted by Reuters.
STORY CONTINUES BELOW THIS AD
According to the report, Trump added that the main issue with India was its high tariff rates, though he did not specify the new proposed rate. He alleged that a substantial portion of oil imported from Russia was being sold on the open market 'for big profits', adding that the United States would 'substantially raise' the tariffs imposed on India for purchasing 'massive amounts of Russian oil' as of Monday.
The remarks followed an earlier announcement by Trump on his social media platform, Truth Social, where he reiterated the move and added a yet-undisclosed penalty for India's continued oil imports from Russia.
'India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits. They don't care how many people in Ukraine are being killed by the Russian War Machine. Because of this, I will be substantially raising the Tariff paid by India to the USA. Thank you for your attention to this matter!!!' the US President wrote.
STORY CONTINUES BELOW THIS AD
The United States and China had agreed in May to a 90-day tariff pause, during which US tariffs were reduced from 145% to 30%, and Chinese duties from 125% to 10%, according to an Al Jazeera report.
Soon after Trump's remarks on Monday, the Indian government described the targeting of India as 'unjustified and unreasonable'.
In a statement, the spokesperson for the Ministry of External Affairs (MEA) said that India would take all necessary steps to protect its national interests and economic security.
The statement highlighted that India had been repeatedly targeted by the United States and the European Union for importing oil from Russia since the outbreak of the conflict in Ukraine.
'In fact, India began importing from Russia because traditional supplies were diverted to Europe after the outbreak of the conflict. The United States at that time actively encouraged such imports by India for strengthening global energy markets stability. India's imports are meant to ensure predictable and affordable energy costs to the Indian consumer. They are a necessity compelled by global market situation. However, it is revealing that the very nations criticising India are themselves indulging in trade with Russia. Unlike our case, such trade is not even a vital national compulsion,' the statement read.
STORY CONTINUES BELOW THIS AD
The MEA spokesperson noted that in 2024, the European Union's bilateral trade in goods with Russia stood at €67.5 billion, along with trade in services estimated at €17.2 billion in 2023.
'This is significantly more than India's total trade with Russia that year or subsequently. European imports of LNG in 2024, in fact, reached a record 16.5 million tonnes, surpassing the last record of 15.21 million tonnes in 2022.'
The spokesperson added that Europe's trade with Russia includes not only energy, but also fertilisers, mining products, chemicals, iron and steel, and machinery and transport equipment.
'Where the United States is concerned, it continues to import from Russia uranium hexafluoride for its nuclear industry, palladium for its EV industry, fertilizers as well as chemicals. In this background, the targeting of India is unjustified and unreasonable. Like any major economy, India will take all necessary measures to safeguard its national interests and economic security,' the statement reiterated.
STORY CONTINUES BELOW THIS AD
India has consistently defended its sovereign right to determine its energy policy based on national interest. The government has stated that its energy purchases are shaped by market dynamics and strategic needs.
'You are aware of our broad approach to energy sourcing requirements, that we look at what is available in the market and the prevailing global situation. We are not aware of any specifics,' MEA Spokesperson Randhir Jaiswal said last week, responding to queries about Trump's announcement.
Responding to another question, Jaiswal said that India's bilateral relationships should not be seen through the lens of third countries.
'Our ties with any country stand on their merit and should not be seen from the prism of a third country. As far as India-Russia relations are concerned, we have a steady and time-tested partnership,' he added.
Answering a query on Friday, Trump indicated that it would be 'a good step' if India stopped buying oil from Russia.
STORY CONTINUES BELOW THIS AD
The Trump administration had imposed 25% tariffs on Indian goods and a penalty for Russian oil imports in the last week of July, despite hopes of reaching an interim India-US trade deal that could have prevented a tariff escalation.
Experts have warned that if India were to cease Russian oil imports, global crude prices could spike to $200 a barrel, significantly impacting global energy markets and consumers.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Condemn Israel's actions in Gaza, civil society members urge govt.
Condemn Israel's actions in Gaza, civil society members urge govt.

The Hindu

time26 minutes ago

  • The Hindu

Condemn Israel's actions in Gaza, civil society members urge govt.

The India Palestine Solidarity Forum (IPSF), a coalition of civil society leaders and people's movements, submitted a detailed memorandum to MPs on July 27, urging the government to condemn Israel's actions in Gaza for what it calls 'the ongoing genocide, forced starvation, and ethnic cleansing of the people of Palestine by Israel.' Signed by over two dozen eminent figures including Medha Patkar, Tushar Gandhi, Prashant Bhushan, Anand Patwardhan, and retired judge Justice Kolse Patil, and several advocates, journalists, authors, activists, social workers and political parties, the memorandum demands 'decisive' Indian leadership in global calls for a permanent ceasefire, humanitarian relief, and accountability for alleged Israeli war crimes. Speaking at a press conference on Tuesday (August 5, 2025), Dr. Sunilam, president of IPSF, stressed the urgency of the moment. 'The memorandum urges the Government of India to unequivocally and categorically condemn the ongoing genocide, forced starvation, and ethnic cleansing of the people of Palestine by Israel.' Feroze Mithiborwala, general secretary of IPSF, called the silence of the Indian government on this 'historic moral issue' alarming. 'This statement bears the endorsement of some of India's most prominent civil society leaders,' he added. Addressed to both houses of Parliament, the memorandum outlines four broad demands: make and lead calls for a permanent ceasefire and humanitarian access in Gaza; restore India's moral authority in foreign policy by reaffirming support for Palestinian statehood and ending all agreements, military, security, agricultural, technological, with the Israeli government and related entities; reject Western propaganda, support independent and fact-based journalism, and uphold international justice mechanisms; and, ensure parliamentary oversight, transparency and public dialogue on India's Gaza policy. Tushar Gandhi, president of Hum Bharat Ke Log, said, 'The Modi government must condemn Israel for the genocide and war crimes being committed in Gaza. India must play a proactive role in ensuring Israel ends the policy of starvation and allows humanitarian essentials, food, water, medicines, to be provided to the Gazan population.' The memorandum presents statistics to highlight the humanitarian crisis. Since October 2023, over 58,000 deaths have been officially reported in Gaza, the majority of them women and children. Independent assessments, including those by The Lancet and The Economist, place the figure between 77,000 and 1,09,000. Over 1.9 million have been displaced, with infrastructure—including hospitals, bakeries, and water systems—systematically destroyed. Aid convoys and humanitarian workers have come under fire, and the UN Special Rapporteur has described Gaza's condition as a 'man-made famine' the memorandum said.

No proposal to stop  ₹500 notes, ATMs to dispense more lower denominations: MoS Finance Pankaj Chaudhary
No proposal to stop  ₹500 notes, ATMs to dispense more lower denominations: MoS Finance Pankaj Chaudhary

Mint

time26 minutes ago

  • Mint

No proposal to stop ₹500 notes, ATMs to dispense more lower denominations: MoS Finance Pankaj Chaudhary

The government has no plans to discontinue the supply of ₹ 500 denomination banknotes and ATMs will continue to disburse ₹ 500 alongside ₹ 100 or ₹ 200 notes, Minister of State for Finance Pankaj Chaudhary informed Parliament on Tuesday. Additionally, the Reserve Bank of India (RBI) in a circular titled 'Dispensation of ₹ 100 and ₹ 200 denomination banknotes through ATMs' issued on April 28, 2025, directed banks and ATM operators to ensure their machines are regularly disbursing ₹ 100 and ₹ 200 notes. In a written response to the Rajya Sabha, the minister said that the RBI has directed the disbursal of more lower denomination notes to enhance public access to frequently used denominations of banknotes. He also mentioned the timeline set by the RBI for this initiative: By September 30, 2025, 75 per cent of all ATMs would dispense either ₹ 100 or ₹ 200 denomination banknotes from at least one cassette. 100 or 200 denomination banknotes from at least one cassette. By March 31, 2026, this number will increase by 90 per cent as all ATMs will continue to dispense either ₹ 100 or ₹ 200 denomination banknotes from at least one cassette. Replying to another question, Chaudhary said the Securities and Exchange Board of India (Sebi) has been actively pursuing around 76 cases during the period from April 2020 to March 2025. During the last financial year, Sebi received ₹ 949.43 crore from disgorgement, which refers to the act of legally binding a person or entity to surrender any illegal gains obtained through unethical practices in the securities market. "Fraud and cheating are punishable offences as per Indian laws. Several central government, enforcement, and regulatory agencies have been taking action to prevent, detect, and act against investment related frauds," he said. Other government agencies are also involved in combating financial crimes, including: The Central Board of Direct Taxes (CBDT) has identified nine cases of multi-level marketing (MLM) scams in the last five years. The Directorate of Enforcement (ED) has investigated around 220 cases of money-laundering , related to investment frauds under PMLA between January 2020 and July 2025. Crypto assets are currently not regulated in India, he said, adding that the RBI-SACHET portal receives multiple complaints about unauthorized deposit taking activities from unregistered entities. He also mentioned some figures around the number of complaints received so far. From April 1, 2020 to March 31, 2025, the portal received around 3,454 complaints related to the "non-repayment of money collected from various kinds of investment schemes.' Another 1,531 complaints were received related to collection of money through MLM, direct selling, and Ponzi schemes, he said.

Elon Musk, Tesla sued by shareholders over concealing Robotaxi risks
Elon Musk, Tesla sued by shareholders over concealing Robotaxi risks

Business Standard

time26 minutes ago

  • Business Standard

Elon Musk, Tesla sued by shareholders over concealing Robotaxi risks

Elon Musk and Tesla have been taken to court by a group of shareholders who allege the company misled them about the safety of its self-driving technology, including the much-publicised Robotaxi. The lawsuit, filed as a proposed class action on Monday, accuses Musk and Tesla of concealing serious risks associated with autonomous driving, according to a report by Reuters. The legal action follows Tesla's first public test of its Robotaxi fleet, which took place in late June in Austin, Texas. During the demonstration, vehicles were reportedly seen speeding, braking sharply, mounting a curb, driving in the wrong lane, and dropping off passengers in the middle of busy multi-lane roads. Tesla's share price fell by 6.1 per cent over the two trading sessions following the test, wiping out approximately $68 billion in market value. Shareholders say Tesla overstated tech readiness The lawsuit claims Musk and Tesla exaggerated the readiness and potential of their self-driving systems, inflating the company's valuation and stock price. Shareholders cited remarks made during an April 22 conference call, where Musk said Tesla was 'laser-focused on bringing Robotaxi to Austin in June'. On the same day, Tesla asserted its autonomous technology would allow for 'scalable and safe deployment across diverse geographies and use cases'. Tesla has not yet responded to media requests for comment. Also named in the lawsuit are Chief Financial Officer Vaibhav Taneja and former CFO Zachary Kirkhorn. Robotaxi rollout central to Tesla's future Scaling the Robotaxi service is considered vital to Tesla's long-term strategy, particularly as demand for its core electric vehicle models slows and Musk's political activities continue to draw scrutiny. Musk, currently the world's richest person, has said he intends to make the Robotaxi service available to half of the US population by the end of the year. However, the company must first secure regulatory approval and prove the safety of its technology. Legal developments and fatal crash verdict The lawsuit was filed in federal court in Austin, Texas, by shareholder Denise Morand. It seeks damages on behalf of investors who held Tesla shares between April 19, 2023, and June 22, 2025. In a separate development, a Florida jury on August 1 found Tesla 33 per cent liable for a 2019 fatal crash involving its self-driving software. The accident killed a 22-year-old woman and seriously injured her boyfriend. The court ordered Tesla to pay approximately $243 million in damages. Tesla argued the driver was at fault and has said it plans to appeal the ruling.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store