Latest news with #Async
Time of India
02-08-2025
- Business
- Time of India
Is a US recession imminent? A wake-up call as Trump's tariff shock meets collapsing job growth and Wall Street flashes crisis signals
US recession fears grow as Trump's new tariffs hit amid shocking job losses—Wall Street warns of a perfect economic storm- The phrase 'US recession imminent' is no longer just a headline—it's a growing reality both on Wall Street and in American households. President Donald Trump's sweeping new tariffs, combined with surprisingly weak job data and heightened market volatility, are creating what many economists now call a 'perfect economic storm.' From job losses to trade disruption and tumbling markets, the signals are flashing red—and the stakes couldn't be higher for your wallet, your job, and the future of the U.S. economy. Job report shocks Wall Street, weakens confidence in the economy The July jobs report landed like a bombshell. The U.S. added only 73,000 jobs, far short of projections. Adding to the concern, job gains from May and June were slashed by a combined 258,000—essentially erasing most of the perceived progress from earlier months. Explore courses from Top Institutes in Please select course: Select a Course Category Design Thinking healthcare Project Management MBA Operations Management Degree Technology PGDM Data Science MCA Others CXO Cybersecurity Finance Public Policy Data Science Leadership Digital Marketing Artificial Intelligence Healthcare others Product Management Management Data Analytics Skills you'll gain: Duration: 25 Weeks IIM Kozhikode CERT-IIMK PCP DTIM Async India Starts on undefined Get Details Skills you'll gain: Duration: 22 Weeks IIM Indore CERT-IIMI DTAI Async India Starts on undefined Get Details Crucially, this wasn't limited to one sector. Even typically stable areas like government hiring and services showed declines. With the unemployment rate rising to 4.2% and labor force participation dropping for the third month straight, economists now warn that these aren't seasonal trends—they may point to a long-term economic slowdown. Trump's global tariff wave adds fuel to the fire Just hours after the job report, President Trump signed an executive order on July 31, triggering 'reciprocal tariffs' on imports from over 60 countries. New tariffs include: Live Events Canada: 35% India: 25% Switzerland: 39% Taiwan: 20% Rates are set to take effect within days, with the White House insisting the move will 'level the playing field.' But economists and trade experts warn that raising import costs right now could backfire—driving up prices for consumers and businesses, curbing investment, and deepening the downturn. Wall Street rattled by warning signs of recession Markets reacted swiftly to the double blow of the job data and tariffs : Dow Jones fell 1.2% S&P 500 dropped 1.6% Nasdaq plunged 2.2% —marking its worst day in over three months The VIX index, known as Wall Street's 'fear gauge,' spiked. Meanwhile, Treasury yields collapsed, with the 2-year yield dropping at its fastest pace since 2001—a clear signal of recession fears. Investors are now betting on the Federal Reserve slashing interest rates by September, suggesting the need for emergency intervention to prevent a full-scale economic downturn. Trump fires BLS chief, sparking alarm over data integrity In a dramatic twist, Trump fired Erika McEntarfer, the head of the Bureau of Labor Statistics (BLS), just hours after the jobs report was released. The White House claimed the numbers were 'manipulated' to damage the administration's image. This has sparked major concerns about the credibility of official economic data. Many fear this move could undermine public trust at a time when accurate, transparent reporting is more critical than ever. How it impacts the average American This isn't just about Wall Street. Everyday Americans are already feeling the pressure: Job prospects are weakening, especially in industries exposed to global trade Prices are rising as tariffs take hold—from electronics to groceries 401(k)s and retirement savings are vulnerable as markets wobble Mortgage rates might fall , but that may not offset the pain of job insecurity The mix of rising costs and falling job security is putting serious pressure on working families, even before any official recession is declared. What to watch next as recession risk rises Here's what could shape the coming weeks: August jobs report : Continued weakness could confirm that a recession is already underway Federal Reserve response : Rate cut signals will be key market movers Tariff negotiations : Some countries may seek exemptions, but Trump warns it's 'too late' Consumer spending : A major pullback could tip the economy into full contraction Are we already in the eye of the storm? Many experts believe we're no longer waiting for a recession—we may already be in the early stages of one. The combination of slowing job growth, trade tensions, falling market confidence, and policy uncertainty is creating a fragile and volatile environment. This so-called 'perfect economic storm' is no longer hypothetical—it's forming before our eyes. What happens next will depend on policy decisions from Washington, the strength of the U.S. consumer, and how the global economy reacts in the critical weeks ahead. FAQs: Q: What caused the latest US recession fears? Trump's new tariffs and weak job data triggered rising concerns of a U.S. recession. Q: How do Trump's tariffs affect average Americans? They raise prices on imports, making everyday goods more expensive. Economic Times WhatsApp channel )
Time of India
01-08-2025
- Business
- Time of India
Why has India vowed to protect its farmers in the face of tariff threats?
U.S. President Donald Trump on Thursday slapped a 25% tariff on Indian goods after prolonged talks that got bogged down over access to India's labour-intensive agricultural sector , which New Delhi has pledged to protect. WHY IS INDIA OPPOSING THE PRODUCTS THE U.S. IS LOBBYING FOR? Explore courses from Top Institutes in Please select course: Select a Course Category Design Thinking healthcare Data Science Data Science Degree Project Management Product Management others Management Data Analytics Artificial Intelligence Digital Marketing CXO Healthcare MBA Public Policy Cybersecurity Operations Management Leadership Technology Others PGDM Finance Skills you'll gain: Duration: 25 Weeks IIM Kozhikode CERT-IIMK PCP DTIM Async India Starts on undefined Get Details Skills you'll gain: Duration: 22 Weeks IIM Indore CERT-IIMI DTAI Async India Starts on undefined Get Details The United States is pressing India to open its markets to a wide range of American products, including dairy, poultry, corn, soybeans, rice, wheat, ethanol, fruits and nuts. While India is willing to provide greater access for U.S. dry fruits and apples, it is holding back on corn, soybeans, wheat, and dairy products. A key reason for this resistance is that most U.S. corn and soybeans are genetically modified (GM), and India does not permit the import of GM food crops. GM crops are widely perceived in India as harmful to human health and the environment, and several groups affiliated with Prime Minister Narendra Modi's ruling Bharatiya Janata Party ( BJP ) are opposing their introduction. The commercial cultivation of a high-yielding GM mustard variety that India developed itself is currently not allowed due to an ongoing legal battle. Live Events Like GM crops, dairy is also a highly sensitive issue, as it provides a livelihood for millions of farmers, including many who are landless or smallholders. The dairy industry helps sustain farmers even during erratic monsoon seasons, which can cause significant fluctuations in crop production. In India, where a large proportion of the population is vegetarian, food choices are strongly influenced by cultural and dietary preferences. Indian consumers are particularly concerned that cattle in the U.S. are often fed animal by-products - a practice that conflicts with Indian food habits. WHY ARE AGRICULTURAL IMPORTS POLITICALLY CHARGED? India is self-sufficient in most farm goods, with the exception of vegetable oils. After liberalising cooking oil imports over three decades ago, the country now has to import nearly two-thirds of its supply to meet demand. India does not want to repeat this mistake with other basic foods, which account for nearly half of its consumer price index. Though agriculture makes up just 16% of India's nearly $3.9 trillion economy, it is the lifeblood for nearly half the country's 1.4 billion people. Four years ago, this powerful voting bloc forced Modi's government into a rare retreat on a set of controversial farm laws. Some in power fear a flood of cheaper U.S. imports would bring down local prices and hand opposition parties an opportunity to sharpen its attack on the government. New Delhi is also worried that a trade deal with the U.S. could also force it to open its agricultural sector to other countries. HOW DOES FARMING IN INDIA AND THE U.S. DIFFER? The vast disparity in the scale of farming makes it difficult for Indian farmers to compete with their U.S. counterparts. The average Indian farm is a 1.08 hectares (2.67 acres), compared to 187 hectares in the U.S. For dairy farmers, the difference is even more dramatic - a small herd of two or three animals versus hundreds or more in the U.S. Many Indian farmers also rely on traditional, unmechanised techniques, while American agriculture has developed into a highly efficient, tech-driven industry. WHY IS INDIA HESITANT TO USE U.S. ETHANOL IN ITS BIOFUEL PROGRAMME? One of India's key goals with its Ethanol Blended Petrol (EBP) programme is to reduce energy imports and support domestic farmers by using sugarcane and corn for biofuel production. Indian companies have invested heavily in new distilleries, and farmers have expanded corn cultivation to meet the rising demand. India recently achieved its ambitious target of a 20% ethanol blend in petrol. With state assembly elections approaching in Bihar - a major corn-producing state in the east - allowing U.S. ethanol imports would lower local corn prices. This would probably anger farmers and turn them against the BJP ahead of the election and also undermine the growing distillery sector.
Time of India
30-07-2025
- Business
- Time of India
Last-ditch efforts on to avoid higher US tariffs as India pushes for trade pact: Sources
With the deadline of August 1 approaching fast, the last-ditch efforts are on to iron out differences for an interim trade deal between India and the US, sources said. August 1 marks the end of the suspension period of tariffs imposed by US President Donald Trump on dozens of countries, including India (26 per cent). However, the baseline tariff of 10 per cent remains. Explore courses from Top Institutes in Please select course: Select a Course Category Design Thinking Leadership Data Science Healthcare Project Management Product Management Digital Marketing Finance MBA Public Policy Management Others CXO Cybersecurity Data Science healthcare Skills you'll gain: Duration: 22 Weeks IIM Indore CERT-IIMI DTAI Async India Starts on undefined Get Details Skills you'll gain: Duration: 22 Weeks IIM Indore CERT-IIMI DTAI Async India Starts on undefined Get Details Sources also said that in case the talks for an interim trade deal get extended beyond August 1, the pact would supersede the existing duty structure on the country. "Talks are on," one of the sources said. Meanwhile, the US team is visiting India from August 25 for the next round of negotiations for the proposed bilateral trade agreement (BTA) between the two countries. Live Events India and the US teams concluded the fifth round of talks for the agreement last week in Washington. Issues including customs and trade facilitation were discussed during that round. India's chief negotiator and special secretary in the Department of Commerce Rajesh Agrawal and Assistant US Trade Representative for South and Central Asia Brendan Lynch held the deliberations. US President Donald Trump has said the trade deal with India is not finalised, as he stressed that India imposes more tariffs than almost any other country. Trump spoke to reporters on Tuesday on Air Force One on his way back to Washington from Scotland and was asked about the trade deal with India. "No, it's not," Trump said when asked if the deal with India is finalised. He was also asked about reports that India is preparing to face higher US tariffs between 20-25 per cent, to which he replied, "I think so." On April 2 this year, Trump announced high reciprocal tariffs. The implementation of high tariffs was immediately suspended for 90 days till July 9 and later until August 1, as America is negotiating trade deals with various countries. India has hardened its position on the US demand for duty concessions on agri and dairy products. New Delhi has, so far, not given any duty concessions to any of its trading partners in a free trade agreement in the dairy sector. India is seeking the removal of the 26 per cent additional tariff. It is also looking at the easing of tariffs on steel and aluminium (50 per cent) and the auto sector (25 per cent). These issues are an important part of the trade pact negotiations. Against these, India has reserved its right under the WTO (World Trade Organization) norms to impose retaliatory duties. The country is also seeking duty concessions for labour-intensive sectors, such as textiles, gems and jewellery, leather goods, garments, plastics, chemicals, shrimp, oil seeds, grapes, and bananas, in the proposed trade pact. On the other hand, the US wants duty concessions on certain industrial goods, automobiles, especially electric vehicles, wines, petrochemical products, agri goods, dairy items, apples, tree nuts, and genetically modified crops. The two countries are looking to conclude talks for the first tranche of the proposed bilateral trade agreement (BTA) by fall (September-October) this year. Before that, they are looking for an interim trade pact. India's merchandise exports to the US rose 22.8 per cent to USD 25.51 billion in the April-June quarter this financial year, while imports rose 11.68 per cent to USD 12.86 billion.
Time of India
29-07-2025
- Sport
- Time of India
Clean Sweep! Australia cap off Caribbean tour with a perfect 8-0 record in Tests and T20s
Australia capped off a dominant Caribbean tour with a clean sweep, defeating West Indies by three wickets in the final T20I on Monday to finish the trip with a flawless 8-0 record across formats. The Aussies had already secured a 3-0 sweep in the Test series and won the first four T20Is heading into the tour finale. Winning the toss for the eighth consecutive time, Australia opted to bowl and dismissed West Indies for 170 in 19.4 overs. Shimron Hetmyer top-scored with a brisk 52 from 31 balls, while Sherfane Rutherford added 35 off 17 deliveries. Despite the late surge, the total wasn't enough to put Australia under lasting pressure. Explore courses from Top Institutes in Please select course: Select a Course Category Others Project Management Degree Management MBA Design Thinking healthcare Leadership Technology CXO Artificial Intelligence Finance Product Management Cybersecurity Data Science Operations Management Data Analytics Data Science MCA Digital Marketing Healthcare others Public Policy Skills you'll gain: Duration: 28 Weeks MICA CERT-MICA SBMPR Async India Starts on undefined Get Details 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 — cricketcomau (@cricketcomau) Ben Dwarshuis led the Australian bowling attack with 3-41, while Nathan Ellis chipped in with 2-32. Adam Zampa, celebrating his 100th T20 international, took 1-20 and was unlucky not to have more, as a catch went down in the penultimate over. — cricketcomau (@cricketcomau) Australia's chase was rocky early on, with Jason Holder and Alzarri Joseph reducing them to 29-3 in just over two overs. Holder dismissed Glenn Maxwell for a golden duck and removed Josh Inglis, while Joseph bowled Mitch Marsh and later ended Tim David's explosive cameo of 30 off 12. Live Events At 60-4, Mitchell Owen (37 off 17) and Cameron Green (32 off 18) turned the tide with a match-defining 63-run stand for the fifth wicket. Owen smashed multiple sixes, including one that landed on the pavilion roof. Akeal Hosein provided a late twist, taking 3-17, including the wickets of Owen, Green, and Dwarshuis, but Australia still reached the target with 18 balls to spare. Aaron Hardie remained unbeaten on 28. The win sealed Australia's 8-0 sweep and reinforced their status as a dominant force across formats.
Time of India
27-07-2025
- Sport
- Time of India
Shubman Gill & KL Rahul 'Test' time again, script a 500-run record
Shubman Gill and KL Rahul became the first Indian pair in over five decades to each score 500 or more runs in a single away Test series. The rare milestone was last achieved in 1970-71 by Sunil Gavaskar and Dilip Sardesai during India's tour of the West Indies. The record was set during the ongoing fourth Test between India and England at Old Trafford. Responding to England's mammoth first-innings total of 669 — led by Ben Stokes ' aggressive 141 — India faced early trouble. Both Yashasvi Jaiswal and Sai Sudharsan were dismissed for ducks in the very first over, leaving the visitors at 0/2. Explore courses from Top Institutes in Please select course: Select a Course Category Others Operations Management healthcare Product Management Degree Finance Digital Marketing Public Policy Data Analytics Leadership MBA Data Science CXO Design Thinking PGDM Artificial Intelligence MCA Technology Project Management Cybersecurity Data Science Healthcare Management others Skills you'll gain: Duration: 28 Weeks MICA CERT-MICA SBMPR Async India Starts on undefined Get Details Skills you'll gain: Duration: 9 months IIM Lucknow SEPO - IIML CHRO India Starts on undefined Get Details 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 Skills you'll gain: Duration: 16 Weeks Indian School of Business CERT-ISB Transforming HR with Analytics & AI India Starts on undefined Get Details Gill and Rahul steadied the innings with an unbeaten 174-run partnership, guiding India to 174/2 at stumps on Day 4. Gill remained not out on 78, while Rahul was unbeaten on 87. India still trailed England by 137 runs with one day left in the Test. Gill's total in the series now stands at 697 runs. Rahul crossed the 500-run mark to become only the second Indian opener after Gavaskar to score 500 or more in an away Test series. This is only the second time in India's Test history that two batters have scored over 500 runs each in the same overseas series. The first was Gavaskar (774) and Sardesai (642) in 1970-71 against the West Indies. Live Events The list now reads: Sunil Gavaskar (774) & Dilip Sardesai (642) vs West Indies, 1970-71 Shubman Gill (697) & KL Rahul (508*) vs England, 2025 Rahul also became the second Asian opener after Gavaskar (542 in 1979) to notch up 500-plus runs in a Test series in England. He is also the first visiting opener to reach this mark in England in the 21st century since South Africa's Graeme Smith, who scored 714 in 2003.
