Trump To End Deportation Protection for Cameroonians, Afghans Firstpost Africa
Trump To End Deportation Protection for Cameroonians, Afghans | Firstpost Africa | N18G
The Trump administration has won a federal appeals court ruling allowing it to end Temporary Protected Status (TPS) for over 5,000 Cameroonians, despite ongoing conflict and humanitarian crises in the country. The government argues conditions have improved and TPS is meant to be temporary, while advocacy group CASA contends Cameroon remains unsafe and accuses the administration of racial bias and procedural violations. The ruling permits deportations to proceed, potentially affecting thousands with U.S.-born children or deep community ties. This decision follows broader efforts to wind down TPS for multiple nationalities as part of Trump's intensified crackdown on undocumented migration.
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Economic Times
15 minutes ago
- Economic Times
Trump's 25% tariff on India may be an opportunity amid adversity; Vijay Kedia explains how
Following US President Donald Trump's announcement of a 25% reciprocal tariff on Indian goods, ace investor Vijay Kedia has struck a chord—quite literally. Taking to his social media platform X, Kedia responded not with criticism, but with a rousing message of resilience, reinvention, and national pride. ADVERTISEMENT '25% tariffs? Good. Now watch us build better,' he declared, sharing a self-composed song emphasizing to reaffirm faith in India's ability to overcome external economic challenges. The tweet features a video of Kedia passionately singing an original composition, calling on Indians to 'rewrite history' and build a stronger, self-reliant nation. 'We'll rise, reinvent, and rewrite history, like we always do,' he wrote, echoing a broader theme of turning adversity into song begins on a reflective yet resolute note: "Achcha hua tumne humko uthaya,Humne bhi soyi shakti ko jagaya". The tone quickly turns aspirational, setting the stage for a national resurgence: "Ab hum naye raaste dhoondh lenge, Viksit Bharat ka ab time aaya." ADVERTISEMENT Through his song, he stated that by the time we (India) reach 2047, after making India the number one country, that's when we'll breathe song emphasized on rewriting history, quoting, 'Rachna hai phir itihaas". ADVERTISEMENT While Kedia did not explicitly name Trump in the video, his post is seen as a response to the 25% tariffs the U.S. president announced as part of his renewed 'America First' trade of engaging in policy argumentation, Kedia's musical response aims to inspire collective ambition and self-reliance—a nod to the 'Atmanirbhar Bharat' sentiment echoed by Indian leadership in recent years. ADVERTISEMENT The tweet quickly resonated across social media, drawing an outpouring of support in the comments.'Tariffs may slow us, but they would not stop us. We have always turned pressure into progress,' wrote a user, echoing the song's refrain: 'Rachenge phir se itihaas.' ADVERTISEMENT Another user added,: '25% tariffs? Just fuel for the fire. We don't break — we bounce back sharper, stronger… Let the world watch — we're not done, we're just beginning.' Also read: Trump's 25% Tariff shock shakes D-Street today; pharma among top 5 vulnerable sectors (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Mint
15 minutes ago
- Mint
'Stated a fact, entire world knows': Rahul Gandhi backs Donald Trump's ‘dead economy' remark for India
Congress leader Rahul Gandhi on Thursday agreed with US President Donald Trump's statement that the Indian economy is 'dead' and said he is 'glad' that the US President has stated a fact Speaking to reporters outside Parliament, the Leader of the Opposition in Lok Sabha said that the whole world knows the Indian economy is 'dead' except for the prime minister and the finance minister. "Yes, he is right. Everybody knows this except the Prime Minister and the Finance Minister. Everybody knows that the Indian economy is a dead economy. I am glad that President Trump has stated a fact... The entire world knows that the Indian economy is a dead economy, " Gandhi said. Gandhi, a Member of Parliament (MP) from Rae Bareli in Uttar Pradesh also shared his comments on X. Targeting India's trade ties with Russia, Donald Trump on Thursday said he does not care what India does with Russia and accused both nations of having 'dead economies". 'I don't care what India does with Russia. They can take their dead economies down together, for all I care,' Trump said in a post on Truth Social. 'We have done very little business with India, their Tariffs are too high, among the highest in the World,' Trump said in the post. Congress MP further questioned PM Modi over a number of Trump's statements, such as his claims of mediating a "ceasefire" between India and Pakistan, loss of Indian jets and the recent announcement of 25 per cent tariffs. "The main question is, Trump has claimed 30-32 times that he did a ceasefire. He also said that 5 Indian jets have fallen. Trump now says that he will impose 25% tariffs. Why is PM Modi not able to give an answer? What is the actual reason? Who has the control in his hands?" he said. Gandhi also criticised External Affairs Minister S Jaishankar over India's foreign policy, citing recent incidents, US tariffs and "no condemnation" of Pakistan after the Pahalgam terror attack by other countries. "Foreign Minister gives a speech and says that we have a genius foreign policy. On one hand, America is abusing you; on the other hand, China is behind you. When you send your delegation to the world, no country condemns Pakistan. How are they running this country? There is total confusion... He (PM Modi in his speech) did not take the name of Trump, China... The military chief of Pakistan who did this Pahalgam attack, President Trump is having lunch with him, and they are saying we had a huge success," the Congress MP said. The Congress MP criticised the BJP government for "destroying" India's economic, defence, and foreign policy in the India-US trade deal, claiming PM Modi would "do exactly what Trump says." "This (India-US trade) deal will take place, and PM Modi will do exactly what Trump says... The main issue sitting in front of India today is that the Govt has destroyed our economic, defence and foreign policy. They are running this country into the ground," he said. Yes, he is right. Everybody knows this except the Prime Minister and the Finance Minister. Earlier, President Donald Trump announced a 25 per cent tariff on Indian goods starting August 1, citing India's high trade barriers, and an additional 'penalty' for India's continued energy and defence ties with Russia. Trump criticised India's military and oil imports from Russia, saying it has enabled Moscow to continue the war on Ukraine.
Mint
15 minutes ago
- Mint
Trump's 25% tariff threat puts $87 billion in Indian exports at risk
New Delhi: India's $87 billion export pipeline to the US is facing fresh turbulence after President Donald Trump proposed a 25% reciprocal tariff on Indian goods, escalating trade tensions just days before a pause on such duties is set to expire. The move threatens to disrupt sectors ranging from textiles and electronics to pharmaceuticals and auto parts. While details of the proposed tariffs are yet to emerge, Trump's statement, issued Wednesday, has unsettled markets and cast a shadow over India's near-term export outlook. A US delegation is scheduled to visit India on 25 August for bilateral trade talks, but the final contours of the measures remain unclear. '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," Trump said on his social media platform Truth Social. The Indian government is analysing the potential impact of the 25% tariff on exporter losses in terms of value and outbound shipments, the ministry of commerce said in a statement issued Wednesday. Madhavi Arora, chief economist at Emkay Global Financial Services, said the proposed tariffs would significantly raise the effective US duty on Indian goods from an average of 10.7% to about 22%, after factoring in higher duties on exempted sectors such as copper, steel and aluminium. This rate, she added, is already higher than what most Asian economies face, barring China. 'We do not believe the talks are over," Arora said, noting that while negotiations appear stalled, geopolitical factors may drive a fresh round of engagement. 'Even countries like the UK, EU, Japan, and Indonesia, Vietnam that signed trade pacts with the US continue to face elevated tariffs despite major concessions. These deals are, in many ways, no better than a trade war," she said. India exported goods worth $87 billion to the US in FY25, accounting for 2.3% of GDP, Arora said. Of this, five sectors—engineering goods ($19.16 billion), electronics ($14.64 billion), drugs and pharmaceuticals ($10.52 billion), gems and jewellery ($9.94 billion), and textiles ($10.91 billion)—together made up $65.17 billion. According to government estimates, about 75.3% of India's merchandise exports to the US could be impacted by the proposed tariffs. 'We've already seen front-loading of shipments in the last three months, so exports may remain tepid in the coming months unless clarity emerges," she added. Her current account model factors in a 3.5% contraction in exports, though the overall current account deficit-to-GDP ratio remains below 1%. Exporters flag rising costs 'The 25% tariff on Indian manufactured goods by the US introduces new variables for exporters, particularly in sectors such as electronics where supply chains are globally integrated," said Abhishek Malik, executive director of Calcom Vision Ltd, which exports LED lighting systems and BLDC fans. 'These measures could lead to higher cost structures and may influence future investment decisions and planning." Vipul Shah, former chairman of the Gems and Jewellery Export Promotion Council (GJEPC) and an exporter himself, said the move could materially damage shipments: 'It's a big setback for the gems and jewellery sector. The US is one of our largest markets, and if the revised tariff remains in place, exports could decline by about 30%." Rajiv Nath, forum coordinator at the Association of Indian Medical Device Industry (AiMeD), said the relative competitiveness of Indian firms may depend on how Chinese duties evolve. 'Clarity will come after 12 August, when the duties on Chinese products are expected to be finalised. They were earlier raised to over 50%, but were temporarily reduced to 30%," he said. 'If, after August, the duties on Chinese medical devices revert to over 50% while Indian goods face a 25% tariff, our export prospects versus China will improve. However, both the government and manufacturers will need to work on enhancing our competitiveness to offset the 6% disadvantage we face compared to Indonesian and Vietnamese competitors." Textile firms brace for hit amid uncertainty In the textile sector, the proposed 25% tariff, and the added risk of an unknown penalty, has weighed on sentiment, especially since industry expectations had been for a softer rate following the 90-day pause. 'This is slightly worse than expected," said Harsh Mittal, research analyst at Emkay Global Financial Services, adding that companies such as Gokaldas Exports, which derives nearly 48% of its revenue from the US, are likely to feel the most heat. SP Apparels and Pearl Global, with 25-30% exposure, may also take a hit, while KPR Mills, with under 9% dependence, could see limited impact. While textile stocks may react negatively in the near term, the sector is banking on relief from other trade agreements. The India-UK FTA, expected to be operational in a few months, and ongoing talks with the EU may help offset some market share loss in the US, Mittal said. Pharma counts on exemption, but awaits clarity Pharmaceutical players are cautiously optimistic that Indian generics may be exempted from the proposed tariffs, similar to the zero-tariff carve-out offered in the US-EU deal. Shashank Krishnakumar, pharma expert at Emkay, said Indian companies supply nearly 47% of the US generics market by volume, and any tariff shock would hurt both sides. While US-based Teva Pharmaceuticals has flagged uncertainty, most Indian players, including Aurobindo, Dr. Reddy's and Biocon, expect to continue exports regardless of tariff movements. 'Onshoring is not a viable option given the regulatory timelines and cost inefficiencies," he said. Sun Pharma's specialty drugs, largely made in Korea, may see some relief due to that country's preferential terms with the US. Auto parts makers already under pressure Auto component firms, already subject to a 25% US import duty since April, do not expect a major incremental hit unless a separate penalty tariff is imposed. Analysts flagged concerns about volume and margin pressures arising from slowing US demand and price absorption along the value chain. 'Bharat Forge has 25% exposure to the US market, and while it has local operations there, demand will still be affected," said Chirag Jain, an auto and electronics sector expert. Tata Motors' US exposure via Jaguar Land Rover is expected to remain insulated due to UK-US trade arrangements. As per Jefferies, the impact of the proposed US reciprocal tariffs will vary across sectors. In auto components, Bharat Forge (40-45% US revenue) may be more affected due to new duties on truck parts, while Sona Comstar (30-35%) sees limited impact as PV parts already face 25%. OEMs like Eicher Motors (3-4%) and Tata Motors' JLR (30-35%) face minimal risk due to low exposure or UK-EU trade cover. In capital goods, Cummins, Thermax, and KEI have 5-15% US exposure, with China as an alternate source. Chemical exporters like Navin Fluorine (24%), PI Industries (20%), and SRF (6%) could be hit due to refrigerant gas tariffs. Pharma companies, especially Biocon, Sun Pharma, and Dr Reddy's, risk a 2-8% EPS hit in FY26 unless generics are exempted, Jefferies said. Dixon, which gets around 10% revenue from the US, may see some pressure, but Syrma, Kaynes, and Polycab have low exposure. Refiners like Reliance Industries Ltd, Bharat Petroleum Corp. Ltd, and Hindustan Petroleum Corp. Ltd may be indirectly affected due to sourcing shifts. Waaree Energies, with a 59% US order book, could be impacted. In textiles, firms like Welspun, Gokaldas, and Indo Count (40-70% US revenue) face competitiveness challenges versus China, Vietnam, and Bangladesh, it said. Macroeconomic impact could be modest but real According to Goldman Sachs, the proposed 25% reciprocal tariff by the US could cause an incremental drag of about 0.3 percentage points on India's real GDP growth in 2025, on top of a previously estimated 0.2 percentage point hit if tariffs above 10% are enforced. The impact stems from India's goods exports exposure of around 4% of GDP to US final demand. Goldman also flagged indirect risks from elevated trade policy uncertainty, which could delay investment decisions by Indian firms. On earnings, the brokerage estimates a potential 2% hit to MSCI India EPS if the new tariffs are enforced, considering both direct and second-order effects. Despite this, it has not revised its 12% and 14% EPS growth forecasts for 2025 and 2026 but warns of downside risks.
