Indian Markets Feel the Chill in Trump-Modi Ties
When Narendra Modi dropped in on Donald Trump last week, there was none of the bear-hugging bonhomie that was on display at the White House Rose Garden in 2017. The hand-clasping bromance from the 2019 'Howdy Modi' event in Houston was also missing. The Indian prime minister came bearing trade concessions on Harley-Davidson bikes and Tesla cars, yet the US president met him wielding a fat stick of tariffs.
Trump set a frosty tone to the much-anticipated rendezvous when shortly before receiving Modi, he announced reciprocal tariffs worldwide: The US will tax foreign goods at the same rate other nations apply to its products.
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USA Today
7 minutes ago
- USA Today
NATO commits to higher spending sought by Trump and mutual defense
While Trump got what he wanted at the brief NATO summit, his allies will be relieved he committed to the fundamental principle of collective defense. THE HAGUE, June 25 (Reuters) - NATO leaders on June 25 backed the big increase in defense spending that President Donald Trump had demanded, and restated their commitment to defend each other from attack. While Trump got what he wanted at the brief summit, tailor-made for him, his NATO allies will be relieved that he committed to the fundamental principle of collective defense after less clear-cut language on June 24. In a five-point statement, NATO endorsed a higher defence spending goal of 5% of GDP by 2035 - a response not only to Trump but also to Europeans' fears that Russia poses a growing threat to their security following the 2022 invasion of Ukraine. More: Israel-Iran ceasefire seems to hold as Trump lands in Europe for NATO summit The 32 allies' brief communique added: "We reaffirm our ironclad commitment to collective defense as enshrined in Article 5 of the Washington Treaty – that an attack on one is an attack on all." Asked to clarify his own stance on Article 5, Trump said: "I stand with it. That's why I'm here. If I didn't stand with it, I wouldn't be here." Macron brings up trade war at NATO summit Trump had long demanded in no uncertain terms that for other countries step up their spending on defense to reduce NATO's heavy reliance on the U.S. Despite an appearance of general agreement, French President Emmanuel Macron raised the issue of the steep import tariffs threatened by Trump, and the damage they may do to transatlantic trade, as a barrier to increased defense spending. More: Can Trump pull off peace plans, trade deals at the G7? What to know about the summit "You cannot come to us as allies and ask that we spend more, tell us we will spend more at NATO - and do a trade war. It's an aberration," he told reporters. NATO Secretary General Mark Rutte, who hosted the summit in his home city of The Hague, said NATO would emerge as a 'stronger, fairer and more lethal' alliance. He had earlier acknowledged that it was not easy for European countries and Canada to find the extra money, but said it was vital to do so. "There is absolute conviction with my colleagues at the table that, given this threat from the Russians, given the international security situation, there is no alternative," the former Dutch prime minister told reporters in his home city of The Hague. The new spending target - to be achieved over the next 10 years - is a jump worth hundreds of billions of dollars a year from the current goal of 2% of GDP, although it will be measured differently. Countries would spend 3.5% of GDP on core defence - such as troops and weapons - and 1.5% on broader defence-related measures such as cyber security, protecting pipelines and adapting roads and bridges to handle heavy military vehicles. All NATO members have backed a statement enshrining the target, although Spain declared it does not need to meet the goal and can meet its commitments by spending much less. More: Trump says US strike impaired Iran's nukes. What does Pentagon say? Live updates Rutte disputes that but accepted a diplomatic fudge with Spanish Prime Minister Pedro Sanchez as part of his efforts to give Trump a diplomatic victory and make the summit go smoothly. Spain said on June 25 that it did not expect its stance to have any repercussions. Trump meets Zelenskyy after summit Rutte kept the summit and its final statement short and focused on the spending pledge to try to avert any friction with Trump. Ukrainian President Volodymyr Zelenskyy had to settle for attending the pre-summit June 24 dinner rather than the main meeting on June 25, although he met Trump separately after the conference ended. The Kremlin on June 24 accused NATO of being on a path of rampant militarization and portraying Russia as a "fiend of hell" in order to justify its big increase in defense spending.
Washington Post
11 minutes ago
- Washington Post
WATCH: President Trump holds press conference at NATO summit
LIVE Politics President Trump holds press conference at NATO summit June 25, 2025 | 12:50 PM GMT President Donald Trump participates in a press conference at the NATO summit in The Hague on June 25, after meeting with members of the defense alliance.
Bloomberg
13 minutes ago
- Bloomberg
Making NATO Great Again Demands More Than Money
Donald Trump used to quip that he could shoot someone on Fifth Avenue and not lose support. The same might be said of the royal palace in The Hague, where the US president arrived to a hero's welcome despite having relentlessly berated, humiliated and questioned the utility of the North Atlantic Treaty Organization and European allies. Even as Trump was his initially cagey self on whether NATO commitments still applied, alliance boss Mark Rutte poured on the charm. America's attack on Iranian nuclear sites, despite its clear repudiation of European diplomatic efforts over the past decade, was praised as 'truly extraordinary'; a move to more than double defense spending targets, another of Trump's obsessions, was described as a 'big success.' Even Germany's Friedrich Merz has described Israel's bombing of Iran as the necessary 'dirty work' of clipping Tehran's nuclear wings.
