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Time of India
27 minutes ago
- Time of India
Trump's 25% tariff on Indian goods could make these everyday items shockingly expensive in the US
Trump India tariff 25%: Millions of American households may soon feel a painful pinch at the checkout line from their medicine cabinets to their jewelry boxes and even their smartphones after US president Donald Trump announced a sweeping 25% tariff on Indian goods, as per a report. Why This Tariff Matters: India Is a Top US Trade Partner The tariffs, which take effect August 1, were announced just two days prior on Trump's social media site Truth Social platform, following months of stalled trade negotiations with India , according to a USA Today report. Explore courses from Top Institutes in Please select course: Select a Course Category Artificial Intelligence Operations Management Leadership Finance Management Others Data Science Design Thinking MBA Data Analytics Digital Marketing PGDM MCA Healthcare CXO Product Management Technology Project Management Public Policy Degree Data Science Skills you'll gain: Duration: 7 Months S P Jain Institute of Management and Research CERT-SPJIMR Exec Cert Prog in AI for Biz India Starts on undefined Get Details He wrote, 'Remember, while India is our friend, we have, over the years, done relatively little business with them because their Tariffs are far too high, among the highest in the World, and they have the most strenuous and obnoxious non-monetary Trade Barriers of any Country,' as quoted by USA Today. The new import levies come amid an existing baseline tariff of 10%, and the US president has also warned this week that most trading partners that do not negotiate separate trade deals could soon face new baseline tariffs of 15% to 20%, as reported by USA Today. India, the United States' top trading partner in 2024, exported $87 billion in goods to the US last year, including vital everyday products like pharmaceuticals, smartphones, and jewelry, according to the report. The US currently runs a $45.7 billion trade deficit with the South Asian nation, and many of its most imported Indian goods are essentials, not luxuries, as per data from the US International Trade Commission. Live Events ALSO READ: Who will inherit Ozzy Osbourne's $220 million fortune? Here's who gets what Prescription Drug Prices Could Rise for Millions The country supplies nearly one-third of its pharmaceutical exports to the US, most notably in the form of affordable generic medications, as per the report. Americans rely on these drugs to treat cancer, manage pain, control fevers, and prevent transplant rejection, among other conditions. Products like antineoplastic and immunosuppressive medications, analgesics, antipyretics and nonhormonal anti-inflammatory agents, Bandages, gauze, and other hospital basics are also on the list, as per the USA Today report. Pharmaceutical imports from India grew by 16% last year, topping $9 billion, according to Reuters. ALSO READ: iOS 18.6 is live — change these 10 hidden settings now to supercharge your iPhone Your Next Smartphone Could Get More Expensive In a major shift, India recently overtook China as the US's top smartphone supplier, driven in part by Apple moving more manufacturing to New Delhi amid existing China tariffs, as per the USA Today report. That pivot may now backfire for US consumers, with the cost of new phones potentially climbing, according to the report. Jewelry, Wedding Gifts, and Precious Stones Also Affected Jewelry and precious stones, including unmounted diamonds and gold-plated pieces, could also carry heftier price tags, as per USA Today. The US imports more than $10 billion of these items from India annually, often as gifts or wedding jewelry, according to the report. Home Linens and Apparel Could Spike in Price Home linens such as bath towels, cotton sheets, and tablecloths, a $6 billion import market, may also see sharp increases, as per USA Today. India accounts for over a third of these products, often sold in big-box retailers and department stores, according to the report. Research from the Yale Budget Lab found earlier tariff hikes have already driven up US apparel and shoe prices by as much as 39% in some cases, according to the report. The new India-focused tariffs are expected to continue that trend. Other Everyday Items at Risk: Shrimp, Fuel, Solar Tech Consumers may also see price hikes on frozen shrimp, baby clothes, suits, and even solar panel components, categories where India has carved out a significant share of the US market, as per the USA Today report. FAQs When does the 25% tariff on Indian goods start? August 1, 2025. The announcement was made on July 30 via Truth Social. Will my medications cost more? Yes, likely. India supplies a significant share of generic prescription drugs used in the US. A tariff may increase prices unless manufacturers or insurers absorb the cost.
The Hindu
2 hours ago
- The Hindu
U.S. President Donald Trump calls out Indian American Vasant Narasimhan, other big pharma CEOs to cut drug prices
In a rare and direct move, U.S. President Donald Trump has personally written to 17 top pharmaceutical CEOs — including Indian American Vasant Narasimhan, MD and CEO of Novartis — demanding an urgent action to bring down skyrocketing drug prices in the United States. The letters, signed by the President and disclosed at a White House briefing on Thursday (July 31, 2025), give companies time until September 29, 2025, to commit to offering Americans the same prices they charge in Europe and other developed nations. The announcement, delivered by White House press secretary Karoline Leavitte, marks a significant escalation in the administration's war on what it calls 'abusive drug pricing practices.' Trump ended conflicts including India-Pakistan, should get Nobel Peace Prize: White House Press Secretary 'For too long,' Ms. Leavitte told reporters, 'Americans have paid more than triple for the same life-saving medications compared to other countries. President Trump says this injustice ends now.' The letter addressed to Dr. Narasimhan and his peers includes four binding demands: extend global parity pricing to Medicaid, apply fair pricing to new drugs, redirect overseas profits to American patients, and enable direct consumer purchases at internationally benchmarked prices. Each letter was tailored but echoed the same urgent message: the days of global freeloading on American innovation are over. Trump and team 'frustrated' with India over trade talks, says U.S. Treasury Secretary 'This unacceptable burden on hardworking American families ends with my administration,' Mr. Trump wrote, warning companies that if they fail to comply, the White House will 'deploy every tool in our arsenal.' Among the many recipients of these letters is Novartis CEO Vasant Narasimhan, a U.S.-trained physician who has led the Swiss pharmaceutical giant since 2018. While Novartis is headquartered in Basel, Switzerland, it derives substantial revenue from U.S. patients and government programmes. Behind the policy is a human story. During the briefing, Ms. Leavitte read a letter from a mother in Ohio who struggles to afford insulin for her son, even while working two jobs. 'This is about people,' she said. 'Families are being forced to choose between rent and medicine.' In his letter, Mr. Trump said the unacceptable burden on hardworking American families ends with his administration. 'Most proposals the Trump administration has received to resolve this critical issue promised more of the same, shifting blame and requesting policy changes that would result in billions of dollars in handouts to industry,' he said. 'Moving forward, the only thing I will accept from drug manufacturers is a commitment that provides American families immediate relief from the vastly inflated drug prices and an end to the free ride of American innovation by European and other developed nations. Accordingly, I'm calling on Eli Lilly and Company and every manufacturer doing business in our great country to take the following actions within the next 60 days: extend the most favoured nation pricing to Medicaid; guarantee most favoured nation pricing for newly launched drugs; return increased revenues abroad to American patients and taxpayers; provide for direct purchasing at most favoured nation pricing,' Mr. Trump wrote. (This article is published in an arrangement with 5WH.)
Hindustan Times
2 hours ago
- Hindustan Times
Blockades, blackouts and bullets: China invades Taiwan on screen
On an island in the Kinmen archipelago, in the Taiwan Strait, Taiwanese soldiers are marching through a dark tunnel. 'The enemy is landing,' one of their number says. As they emerge onto a gloomy beach, they begin to notice hordes of fighters from the Chinese People's Liberation Army (PLA) camouflaged in the shadows. Lights flash in the darkness; the sound of machine-gun fire pierces the air. 'Zero Day Attack', a ten-episode drama, makes its debut on Taiwanese TV on August 2nd. It is the first mainstream film or TV show made in the country to imagine how China might try to annex the island, making its broadcast a cultural milestone. (The show will be released in Japan later in the month, but international distribution has yet to be announced.) Taiwan's screenwriters have avoided depicting a cross-strait war, considering the subject too contentious. But Cheng Hsin-mei, the showrunner of 'Zero Day Attack', is concerned, having observed the Chinese Communist Party's crackdown in Hong Kong in recent years. 'We want to bring awareness while we have the freedom to create,' she says. 'We could lose our freedom in the future.' Ever since the Kuomintang (KMT) fled to Taiwan in 1949 after losing the Chinese civil war, China's leaders have threatened to retake the island. At first, this did not seem realistic, as China did not have much firepower. Then, after China began to open up and reform its economy in 1978, Taiwanese began investing in China: the resulting economic intertwinement encouraged many Taiwanese to think a war with China was improbable. Most Taiwanese are still blasé about the Chinese threat. But Russia's invasion of Ukraine—not to mention China's recent military exercises in the Taiwan Strait—have convinced some that conflict could happen. Puma Shen, a member of Taiwan's parliament who acted as a consultant on 'Zero Day Attack', says the show reflects such shifting attitudes. In 2021, when he co-founded the Kuma Academy, a non-governmental organisation which teaches civil defence, many Taiwanese were critical of such efforts and denied that Taiwan needed a 'pre-war mentality'. Now, however, increasing numbers are signing up for workshops on topics such as information warfare and evacuation planning. Taiwan's government, too, wants to up the ante. Last year a new policy on conscription came into effect, extending the term from four months to 12. This year Lai Ching-te, the president, announced plans to increase defence spending to over 3% of GDP, up from 2.5%. So how does 'Zero Day Attack' envisage an attack unfolding? It begins with a Chinese spy plane disappearing in waters near Taiwan. Under the guise of a search-and-rescue mission, China deploys aeroplanes and ships and starts to enact a blockade. Taiwan's outgoing president tells the president-elect that an American aircraft-carrier is nearby and the Americans will help if he gives the word, but she is reluctant to take him up on the offer, fearing that any intervention would escalate the conflict. Such worries about appearing the provocateur echo real officials' concerns when it comes to handling China's military manoeuvres. 'Zero Day Attack' underscores that a Chinese attack on Taiwan will involve a range of weapons, not all of them ballistic. There are blackouts. Phone signal becomes patchy; the island sees its biggest internet outage ever, one which lasts for more than a day. News stations temporarily go off air. The aim is to create chaos and undermine any sense of social cohesion. Jets are often seen flying overhead and tanks are on the streets. Many Taiwanese start to flee from the island. Particularly effective is China's information warfare. Doctored videos circulate on social media, spreading fake news about a missile strike. Pro-China influencers start agitating online and presenting Taiwan's democracy as a sham. China's government infiltrates criminal gangs, using them to create havoc on the streets. China proposes a peace agreement, which stipulates that Taiwan accept the policy of 'one country, two systems'—the model of governance China imposes on Hong Kong, which supposedly allows for autonomy but in practice leaves Hong Kong at the mercy of the Communist Party. Some politicians, desperate for resolution, support the agreement. Each episode of 'Zero Day Attack' is directed by a leading Taiwanese film-maker and looks at the events from a particular perspective. One episode follows the president-elect; another focuses on the tv stations; still others explore how rich Taiwanese or working-class people would be affected. The result is a scorching depiction of how war would shake society. Warning shots As you might expect for a drama about a loaded geopolitical subject, 'Zero Day Attack' has not had zero problems in production. Some consider the show to be propaganda for the ruling Democratic Progressive Party, which firmly rejects China's claim to the island. Politicians in the KMT, which favours more cordial ties with China, have pointed out that Taiwan's culture ministry had invested in the series (though the ministry does this for many local productions). Another of the show's main investors is Robert Tsao, a billionaire founder of a semiconductor company, who has also given money to civilian-defence initiatives including the Kuma Academy. Both Mr Tsao and Mr Shen have been labelled 'separatists' by China. Ms Cheng says some Taiwanese talent agents refused to put forward their actors for the show for fear that they would get blacklisted in China—which would be bad for business, given that China has the world's biggest tv and film audience. So Ms Cheng sought out people who were not worried about being banned. One of the show's China-backed rabble-rousers, Big John, is played by Chapman To, an actor from Hong Kong turned Taiwanese immigrant. He was a vocal supporter of Hong Kong's democracy movement in 2014, which caused Chinese audiences to boycott his films and production companies to refuse to work with him. What is most intriguing is that the series is not nearly as apocalyptic as the original 17-minute trailer, released last year, promised. It imagined 'Total Chaos. Shortages of supplies, complete interruption of water, electricity and telecommunication.' These things do not transpire in the finished show. Ms Cheng says the trailer was designed to be terrifying as a hook to get audiences interested. Mr Shen, the consultant, denies that alarming scenes were cut because of political pressure. Lo Ging-zim, one of the directors, has been adamant that 'Not a single word of the script had been modified by the government.' Yet Yen Chen-shen, a political scientist at National Chengchi University, who was not involved in the project, reckons the Taiwanese government may well have pressed the film-makers to tone down some of the story's scariest parts. Officials he knows want the public to be prepared for an invasion, but they do not want to petrify them. 'Zero Day Attack' is not without its artistic flaws. America is portrayed as a staunch ally—a description few would apply to the current administration. China-backed characters, such as Big John, are generally portrayed as cartoonish spies and gangsters. Many people in China, Taiwan and the Chinese diaspora do not want to see Taiwanese people mistreated but nonetheless believe that, because of their shared culture, Taiwan ought to be part of China. How that might be achieved, given the overwhelming opposition of Taiwanese people to being ruled by the Communist Party, is a tricky question. Still, the series could have portrayed Taiwanese who favour unification more sympathetically. 'Zero Day Attack' arrives on screen months after the pLA rehearsed an amphibious invasion and naval blockades, as well as disrupting supply lines and bombing energy facilities. No one knows whether China will one day make good on its threats. But after watching this show, no one can claim not to have been warned. For more on the latest books, films, TV shows, albums and controversies, sign up to Plot Twist, our weekly subscriber-only newsletter
