Trump frustrated with India talks, will detail additional penalty soon, adviser says
(You can now subscribe to our Economic Times WhatsApp channel
U.S. President Donald Trump has been frustrated with how trade talks with India are progressing and believes his 25% tariff announcement will help the situation, White House economic adviser Kevin Hassett said on Wednesday.Trump and U.S. Trade Representative Jamieson Greer will have more information "shortly" on the additional penalty Trump announced earlier, Hassett told reporters at the White House."I think President Trump is frustrated with the progress we've made with India but feels that a 25% tariff will address and remedy the situation in a way that's good for the American people," Hassett said.Trump said in a post on Truth Social earlier Wednesday he would impose a 25% tariff on goods imported from India, starting Aug. 1. He added that the world's fifth-largest economy would also face an unspecified penalty, also starting on Friday, but gave no details.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Indian Express
10 minutes ago
- Indian Express
Amid curbs on H1B and student visas, more Indians are lining up for US investment visas
'THE TRUMP Card is Coming. Enter your information below to be notified the moment access opens,' says the new US government website on the Gold Card, the $5 million US residency visa programme announced by President Donald Trump in February. Despite curiosity around the new programme, the launch date and specific details of which are yet to be released, data shows that the existing investment-based residency programme EB-5, which the Gold Card will replace, has seen more applications from India over the past one year than ever before. According to the American Immigrant Investor Alliance (AIIA), a Washington-based collective of EB-5 investors, demand for EB-5 from Indian citizens has grown sharply since April 2024, driven by factors such as stricter controls over student and temporary work visas under the Trump regime. Data provided by United States Immigration Fund (USIF), which runs designated EB-5 regional centres in the US, confirms this. 'In the first four months of FY2025 (October 2024-January 2025), Indian applicants filed more than 1,200 I-526E petitions across reserved categories — more than any prior full year,' Nicholas Mastroianni III, president and CMO of USIF, told The Indian Express, referring to the application forms. Experts said another factor fuelling EB-5 filings could be a record backlog in other immigration categories, including H1-B and green card. According to estimates, more than 11 million US immigration applications are pending with the authorities. So, EB-5 has become the fastest and most assured route to US permanent residency, they said. Data accessed by The Indian Express from Washington-based Invest In the USA (IIUSA), an overarching trade association for the EB-5 regional centre programme, show that 1,428 EB-5 visas were issued to Indians in FY2024 (October 2023 to September 2024), as against 815 in the previous year. Between 2014 and 2021, the figures were minuscule, at 96 in 2014, and under 200 EB-5 visas until 2017. Created by the US Congress in 1992, the EB-5 programme is a pathway to green cards to immigrants who make a minimum investment of $1,050,000 (Rs 9 crore), or $800,000 (Rs 6.88 crore) in economically distressed zones called Targeted Employment Areas (TEA), to create jobs for Americans, according to the United States Citizenship and Immigration Services website. It allows the investor, their spouse and unmarried children under 21, to immigrate to the US. However, changes were brought to the programme in 2022, introducing both flexibility for investors and stronger audit checks on sources of income. Following this, experts said, filings from high net worth Indian citizens looking for US residency increased manifold. Between October 2024 and March 2025, 649 Indian nationals were issued EB-5 visas via consular processing — a strong indication that a large number of Indian filings from the financial year 2022–2023 have matured, Mastroianni said. The path is also becoming popular in the adjustment of status category, among those already in the US on non-immigrant status. 'Students and individuals on H-1B visas currently represent the primary group seeking lawful means to remain in the US with the ability to work,' said Sukanya Raman, country head, Davies & Associates, LLC, an immigration law firm. 'Indian nationals currently in the US on non-immigrant status such as H-1B or student visa and who file under the new provisions benefit from automatic issuance of work and travel permits within 3-6 months from the time of filing I-526E petition typically which remain valid until their EB-5 green card is approved,' said Raman. The number of student visas issued by the US government have dropped by 15% globally to 89,000 in the first half of fiscal year 2025 (October-March) with India reporting a massive fall of 43.5% in fresh visas compared to the same period in 2024, according to the US Department of State data. The numbers are likely to fall further in the second half of fiscal 2025 due to a nearly month-long pause in new visa appointments over May and June. While China remains top user of EB-5 visas, followed by Vietnam and India, IIUSA data also shows that most Indian filings come through the Indian consulate in Mumbai, showing that high net worth individuals from the financial capital and the region have been using this route to get US residency. Out of the total 638 unreserved consular processing (for those based in India, as opposed to adjustment of status, meant for those already living in the US) applicants between October 2024 and May 2025, 543 filed through the US consulate in Mumbai. According to Ravneit Kaur Brar, Attorney-at-law in California who deals with immigration issues, the data is always compiled with China and India as two data points because of very high volume coming out of these two countries, in almost every category. China accounts for 51% of worldwide filings. India remains the second-largest market, contributing a total of 1,341 I-526/E filings between FY2022 and July 5, 2024, with 1,057 of them filed under the Reserved EB-5 categories, Brar said. 'India shows a positive trend in approval rates over the years. India's approval rate rose from 59% in FY2022 to 82% in FY2024,' she said. The processing time from petition filing to visa issuance varies from the kind of projects being opted for by the applicant. While rural area projects take approximately 8-24 months; High-Unemployment Area Projects take 12-30 months. Mastroianni said that contrary to assumptions, there has been a surge in demand for EB-5 after the announcement of the Gold Card programme. 'We are witnessing one of the most promising surges in EB-5 interest from Indian families in recent history. The uncertainty surrounding future visa programmes like the proposed Gold Card, combined with heightened scrutiny of traditional student and work visa routes, has pushed many investors to act now — not later. What's changed is not just demand, but decisiveness,' he said. 'With the spectre of visa retrogression looming and the current ability to file concurrently from within the US, families are prioritising stability, permanence, and long-term security. EB-5 is no longer seen as an alternative — it's become the preferred strategy,' Mastroianni said. Divya A reports on travel, tourism, culture and social issues - not necessarily in that order - for The Indian Express. She's been a journalist for over a decade now, working with Khaleej Times and The Times of India, before settling down at Express. Besides writing/ editing news reports, she indulges her pen to write short stories. As Sanskriti Prabha Dutt Fellow for Excellence in Journalism, she is researching on the lives of the children of sex workers in India. ... Read More
Hindustan Times
12 minutes ago
- Hindustan Times
US trade talks to stick to terms agreed earlier
India and the United States are intensely engaged to conclude a mutually beneficial early trade deal by the end of this month, 'strictly' within the bilaterally agreed framework of March 29, irrespective of the ongoing political rhetoric and independent of their strategic relationships with other countries, people in the know said on Sunday. he two countries finalised the detailed terms of reference (ToR) to enter into negotiations of the bilateral trade agreement (BTA) on March 29 during their first physical round of talks in New Delhi. (PTI) It may be part of the negotiations that India and the US may purchase and sell more energy as an outcome of the deal. But the agreed framework does not proscribe either nation from purchasing oil and gas from any third country of its choice, they said, requesting anonymity. The two countries finalised the detailed terms of reference (ToR) to enter into negotiations of the bilateral trade agreement (BTA) on March 29 during their first physical round of talks in New Delhi. Later, on April 22, US Vice President JD Vance officially announced the finalisation of the ToR for bilateral 'trade negotiations' during his India visit, and called it 'a vital step toward a final deal' between the two nations in a post on X that day. ToR is a set of bilaterally agreed road map for BTA negotiations. Both sides have concluded five physical rounds of negotiations and several virtual discussions within that framework. In the process, the two sides have already reached some common ground, substantial enough to announce an interim deal, they said. 'We are engaged through virtual mode as on date and likely to iron out remaining differences when the American negotiating team visits India for the sixth physical round this month,' one of the people cited above said. The US negotiating team is expected to land in New Delhi on August 24 to participate in the sixth round of talks from August 25. According to the people, some concrete outcomes are expected after the successful conclusion of the sixth round towards the end of August, despite US President Donald Trump's recent statements and tariff actions against India. Trump on July 30 announced punitive tariffs on Indian goods through a post on Truth Social. The announcements involved 25% on Indian goods shipped to America and an unspecified levy for purchasing Russian oil. Trump's reaction was an outcome of India refusing to budge on retaining protections for its agriculture, dairy and micro, small and medium enterprises (MSME) sectors from unfettered American imports. Another factor behind Trump's reaction was India importing almost one-third of its crude oil requirements from Russia. About that, Trump on July 31 said on Truth Social: 'I don't care what India does with Russia… They can take their dead economies down together, for all I care.' According to the US Energy Information Administration's (EIA) country analysis updated on February 6, 2025, Russia was the primary source of India's crude oil and condensate imports in 2023, accounting for about 39% of its total imports, followed by Iraq (19%), Saudi Arabia (16%), United Arab Emirates (5%) and the US (4%). India imported 4.5 million barrels a day (b/d) of crude oil and condensate in 2023, it said. 'In 2022, after the United States and EU imposed sanctions on Russia, India began purchasing Russia's crude oil at a discount, increasing its imports more than sixfold to 740,000 b/d,' the report said. Energy hungry India, which is the world's third largest importer after the US and China, imports over 87% of the crude oil it processes. 'Economical and reliable energy supply is the top priority of India's energy security, and heavily discounted crude from Russia meets both the requirements. Our energy sourcing is diversified, involving 39 countries. We have recently increased energy imports from the US and this may go up further depending on commerciality. But our sourcing from Russia would not stop under any external pressure. We are not bound by any unilateral sanction as we follow the UN sanction,' a second person said. Energy security is India's key concern and the US is endowed with the natural resource. The proposed BTA may have some definite commitments for enhanced energy imports from the US, depending on the long-term commercial viability, the people mentioned above said. 'But the deal cannot and will not restrict India's freedom in pursuing its independent energy sourcing. We are buying crude oil from about 40 countries, including the US, the Middle East and Russia. And the policy of diversified sourcing will continue,' the first person said.
Time of India
41 minutes ago
- Time of India
Sophie Cunningham's mom reacts to US Olympic gender rule change triggered by Trump's executive order
Sophie Cunningham's mom reacts to US Olympic gender rule change triggered by Trump's executive order (Image via Getty) Indiana Fever guard Sophie Cunningham's mother, Paula Cunningham, highlighted a significant rule change in American Olympic sports on Saturday, August 2, 2025. First published on July 22, 2025, on ABC News' headline regarding a new gender policy affecting the U.S. Olympic and Paralympic teams, she shared an Instagram story. The article stated that Team USA would no longer permit transgender women to participate in women's categories at the Paralympic Games or Olympic Games. This decision follows a new rule from the U.S. Olympic & Paralympic Committee (USOPC), matching Donald Trump's order from February 2025. That order is called 'Keeping Men Out of Women's Sports.' Donald Trump's order leads to major policy shift across Olympic and college sports The rule now specifies that only those who are biologically female can attend events for women. Though Sophie Cunningham's mother didn't comment directly, her repost showed her support of this shift. Sophie Cunningham's mom reacts to US Olympic gender rule change triggered by Trump's executive order U.S. President Donald Trump signed an executive order in February 2025 requesting all schools, athletic leagues, and Olympic bodies to segregate male and female players. Only biological women are permitted to join women's teams and utilize women's restrooms according to the ordinance. Speaking about this at a rally later that month, Trump said, 'We will not allow men to beat up, injure, and cheat our women and girls.' by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The Simple Morning Habit for a Flatter Belly After 50! Lulutox Undo On Tuesday, July 29, USOPC President Gene Sykes said the committee had to follow the government's rule because it is a federally chartered body. Sykes said, 'We have an obligation to comply with federal expectations.' The change has already impacted college sports. On July 30, 2025, the University of Pennsylvania canceled records and awards that were earlier given to Lia Thomas, the first openly transgender NCAA swimmer. Natasha Cloud once called out Sophie Cunningham over political views Sophie Cunningham has never spoken openly about politics, but in the past, she shared a meme that made fun of Vice President Kamala Harris. That was during her time with the Phoenix Mercury. Her teammate back then, Natasha Cloud, responded by tweeting, 'I'm absolutely going to keep tweeting factual information and holding those around me accountable for posting dangerous misinformation.' Now, both players have moved on. Natasha Cloud plays for the New York Liberty, and Sophie Cunningham is part of the starting lineup for the Indiana Fever. For real-time updates, scores, and highlights, follow our live coverage of the India vs England Test match here. Catch Rani Rampal's inspiring story on Game On, Episode 4. Watch Here!
