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Economic Times
08-08-2025
- Business
- Economic Times
Xenophobic autarky! Jefferies' Chris Wood on 50% tariff against India
Stating that "xenophobic autarky" is the best way to describe US President Donald Trump's 50% tariff on India and Brazil, investment guru Chris Wood has said the US has now gone rogue as far as the international trading system is concerned. ADVERTISEMENT 'Xenophobic autarky is the appropriate phrase GREED & fear heard one gentleman employ in the context of the latest extreme moves as regards tariffs this week, in term of the 50% tariffs now levied against India and Brazil, let alone the 100% tariff on imported chips, but with exemptions made for those companies which have pledged investments in America, such as TSMC, Samsung Electronics and Hynix," Christopher Wood, Global Head of Equity Strategy at Jefferies, said in his weekly newsletter. He said the reality is that America has now gone rogue as regards the international trading system, which has its origins in the GATT, established in 1947. "Meanwhile, there remains the legal question of whether Donald Trump has the authority to make these moves. GREED & fear would advise the rest of the world to act collectively rather than each country seeking to do its own deal with the US, which is a strategy that undermines the multilateral world on which so much prosperity has been built," Wood, known as an India bull in emerging markets circles, said. Also Read | Tariff tandav on India's $87 billion export machine. Decoding impact on economy, markets Trump's announcement of an additional 25% penalty on India for buying Russian oil comes into effect from August 27 and will take the total tariff to 50%, making exports unviable in the affected sectors. ADVERTISEMENT While describing tariffs as 'beggar thy neighbour' policies which ultimately benefit no one, Wood said, the longer they are in place the more likely the negative consequences will show up and analyst Mahesh Nandurkar had earlier warned that the new tariff rate will imply that a large majority of India's US$87bn (2.2% of GDP) worth exports to the US are now potentially at risk. ADVERTISEMENT Only pharmaceutical and electronics exports, roughly 30% of India's US shipments, remain exempt for now. Analysts say that the most impacted sectors are textiles, chemicals, auto ancillaries and fisheries. Also Read | Tariff game a non-event or new reality for your stocks? Here's how to Trump-proof portfolio Goldman Sachs had already pencilled in a 0.3 percentage point hit to GDP growth from the initial 25% tariff. Now, with the additional duties, they warn of "a potential incremental drag of around another 0.3pp (annualized)," effectively doubling the economic pain. ADVERTISEMENT However, Goldman maintains some hope in the three-week negotiation window: "We see downside risks to our growth estimates for both CY25 and CY26, but are not making any changes to our growth forecasts at the moment, given that there is a three-week window for negotiations." (You can now subscribe to our ETMarkets WhatsApp channel)
GSM Arena
17-06-2025
- GSM Arena
Sony Xperia 1 VII gets disassembled on video
Sony unveiled its latest flagship smartphone, the Xperia 1 VII, last month, and it's already available to purchase in some markets. If you've been wondering what it looks like on the inside, Chinese YouTube channel WekiHome has you covered - it published a comprehensive teardown and reassembly video, which you can find embedded below. Note that the video is obviously in Chinese, but YouTube's auto-translated closed captions do a great job, as always - just hit the CC button in the player and then make sure you get the auto-translation by using the Settings cog. Sony Xperia 1 VII 5G The Xperia 1 VII has that quintessentially Sony design that's unmistakable and very different from any of its competitors'. That said, it's not exactly identical to its predecessor, with a variety of small details having been tweaked. Sony isn't willing to let go of its unique design, but is constantly working on improving it. As in most cases, the disassembly starts from the rear panel. As a first, the Xperia 1 VII has two ambient light sensors, one of which is on the rear. This should make auto-brightness better react to changes in ambient lighting that are happening behind the phone. The RAM is provided by Samsung, the storage by Hynix, and the big new ultrawide camera is clearly different from its predecessor. The speakers and vibration motor seem to be very similar to those in the Xperia 1 VI, and the mic hole has an L-shaped design to avoid being destroyed by accidental use of a SIM removal tool - even though, ironically, the Xperia 1 VII doesn't need one as it features Sony's trademark tool-less SIM tray. The battery is not only identical in capacity to the Xperia 1 VI's, it's actually the exact same model. The screen is made by Samsung. If you want to learn more about the Xperia 1 VII, read our in-depth review or take a look at our video review above.
