Trump-Musk Fallout Deepens: White House Sidelines SpaceX From Mega Missile Shield Deal
Read More
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
20 minutes ago
- Mint
‘India has charged…': What Donald Trump said hours before announcing 25% tariffs on ‘friend' India
Trump tariffs: United States President Donald Trump on Wednesday, 30 July 2025, imposed a 25% tariff rate on all imports from his 'friend' nation, India, effective 1 August 2025, citing the Asian nation's high tariff rates. '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,' said Trump in his Truth Social post. Hours before imposing the 25% tariffs on India, on top of the pre-existing 10% baseline import duty on all US imports, Donald Trump said that even though India is a good friend to the US, the nation has charged 'more tariffs' than nearly any other nation. 'Yeah, I think so. India is my friend. They ended the war with Pakistan at my deal with India is not finalised. India has been a good friend, but India has charged basically more tariffs than almost any other country...' President Trump told the reporters on board Air Force One, according to a video shared by the news agency ANI. (This is a developing story. Please check back for updates.)
Hindustan Times
23 minutes ago
- Hindustan Times
China Politburo Holds off on Further Stimulus
Chinese leaders signaled they would refrain from rolling out more major stimulus for now, as authorities pivot to addressing excess capacity in the economy. Instead of announcing more policy support to bolster growth, the ruling Communist Party's Politburo, China's top policymaking body, pledged Wednesday to better execute policies that are already in place, according to a readout by state-run Xinhua News Agency. Chinese leaders hinted that they are ready to act should growth falter, as they acknowledged rising uncertainty without mentioning ongoing trade tensions with the U.S. Policymakers said they will double down on efforts to boost domestic demand with plans to expand support to the services sector, on top of the consumer goods trade-in program. China's export sector has come under pressure from President Trump's push to ratchet up U.S. tariffs, though outbound shipments have held up relatively well. The Politburo meeting maintained a cautious policy stance, reiterating macroeconomic guidance offered in April but didn't include new support for housing—signaling limited appetite for fresh stimulus despite fading property momentum, said Louise Loo, head of Asia economics at Oxford Economics. Chinese policymakers also reiterated their intention to curb excess capacity in some key industries that economists say exacerbate deflationary pressures. Over the past month, Chinese authorities have repeatedly warned against 'disorderly' competition that has eaten into businesses' profit margins, stoking speculation that a new wave of supply-side reform could be in the pipeline to reflate the economy. Chinese policymakers promised to step up financing support for struggling exporters and prevent local government debt risks from further spreading. Officials also said they will seek to promote a more attractive and inclusive domestic capital market. The Chinese Communist Party will hold its next key conclave in October to discuss the country's 15th five-year plan covering the 2026-2030 period. Economists widely expect Beijing to focus on enhancing economic resilience in the next five-year plan by boosting technological self-reliance and high-end manufacturing in preparation for a prolonged rivalry with Washington. Write to Singapore Editors at singaporeeditors@
&w=3840&q=100)
First Post
23 minutes ago
- First Post
Trump announces 25% tariff on India starting August 1
US President Donald Trump announced that a 25% tariff on imports from India will take effect beginning August 1, citing what he described as unfair trade practices and India's continued ties with Russia read more US President Donald Trump announced that a 25% tariff on imports from India will take effect beginning August 1, citing what he described as unfair trade practices and India's continued ties with Russia. In a statement posted on Truth Social, Trump acknowledged India as a 'friend' but criticised the country's high tariffs and stringent non-monetary trade barriers, calling them 'among the highest in the world' and 'obnoxious.' 'We have, over the years, done relatively little business with them because their tariffs are far too high,' Trump posted on X. STORY CONTINUES BELOW THIS AD 'Also, they have always bought a vast majority of their military equipment from Russia, and are Russia's largest buyer of energy, along with China, at a time when everyone wants Russia to stop the killing in Ukraine — all things not good!' he added. Trump said that, in addition to the 25% tariff, India would face a penalty for what he described as 'unfair' trade behavior and continued support of Russia amid its war in Ukraine. The new trade measures are set to be implemented on August 1. The announcement comes as India maintains a neutral stance on the Ukraine conflict and continues to engage in defense and energy trade with Moscow, despite Western pressure to reduce ties with Russia. With inputs from agencies
