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First Post
7 hours ago
- Business
- First Post
This Week in Explainers: What will be the cost of Trump's 50% tariffs on India?
US President Donald Trump has slapped a 25 per cent tariff on India as punishment for buying Russian oil. This take India's total tariffs to a whopping 50 per cent, among the highest in the world. What would be the fallout of such a move? We examine this and more in our roundup of the big news read more A man reads a newspaper with reports on tariffs after US President Donald Trump announced an additional 25 per cent tariff on Indian goods, alongside a market in New Delhi. Reuters The United States calls India a 'strategic partner'. However, it didn't seem that India and the US were on the same page in the week gone by. US President Donald Trump continued his trade tirade against India this week, slapping a 25 per cent tariff on New Delhi for its purchase of Russian crude oil. This came in addition to the 25 per cent he already levied on India, which came into effect on August 8. Many experts note that Trump risks tanking 25 years of US-India relations. STORY CONTINUES BELOW THIS AD The trade war between India and the US has also resulted in a realignment in geopolitics. India and China, who have been rivals for years, found themselves on the same page with both of them striking a defiant note against America. Moreover, news emerged that PM Modi would be attending the SCO Summit in China's Tianjin, a first for the PM since 2020. This week also saw death and destruction as a result of the Uttarakhand cloudburst. More than 100 people still remain missing after the cloudburst led to flash floods in the Dharali village of the hill state. The disaster has caused unprecedented destruction — roads have been damaged and houses have been destroyed. The Army has also been called in to help with rescue operations, which continue at a slow pace owing to the location of the village. Speaking of the army, big headlines were made when an Indian Army officer roughed up SpiceJet staff at Srinagar airport over a dispute of extra baggage. The airline staff allege that the officer became violent, and beat them up causing them serious injuries. If you want to unpack all of this and the other big headlines from this week, our weekly roundup is here for you. 1) Pushing forward with his earlier threats, US President Donald Trump announced a 25 per cent tariff on India as punishment for buying Russian oil. The penalty is in addition to the 25 per cent tariff India already faces, making it subject to one of the US's highest import tax brackets under Trump, at a total of 50 per cent. STORY CONTINUES BELOW THIS AD In his executive order, Trump explained that Russia's continued military actions in Ukraine constituted a 'national emergency' and it was therefore 'necessary and appropriate' to place heightened tariffs on India, a major consumer of its petroleum products. 'I find that the Government of India is currently directly or indirectly importing Russian Federation oil,' Trump wrote. The move imperils India's trade with the US as well as its economy. While some experts stated that the tariffs could lower the GDP growth by one per cent, others noted that Indian goods especially in the textile, gem and chemical sectors would lose its competitiveness in the US market. If you are wondering just how badly India would be hit by the tariffs, read our detailed analysis here. 2) Trump's reason for levying a whopping 50 per cent tariff on India is its continuous purchase of Russian oil, which the US president deems to be financing Russia's war against Ukraine. STORY CONTINUES BELOW THIS AD But India has defended its move, saying its purchase of Russian crude is 'based on market factors and done with the overall objective of ensuring the energy security of 1.4 billion people of India. The Ministry of External Affairs in a statement also noted that the 'very nations criticising India are themselves indulging in trade with Russia'. But did you know that the purchase of Russian oil doesn't just serve India's interests but the world at large? Here's how. 3) Amid this tariff drama, India remains committed to its ties with Russia. National Security Advisor Ajit Doval was in Moscow this week as part of a pre-planned visit aimed at strengthening ties between the two nations. This visit gained even more prominence as it came amidst threats and the eventual tariff levied by Trump on India for its oil trade with Russia. This has got many asking — why is India keen on its ties with Moscow? Our detailed essay explains the multiple reasons why Delhi-Moscow ties continue despite it all. STORY CONTINUES BELOW THIS AD Trump's 50 per cent tariffs on India seems to be changing the political scenario. New Delhi found an unlikely partner in its defence of purchasing Russian oil – China. File image/Reuters 4) On the issue of tariffs, India has found an unlikely partner — China. As Trump announced that he would levy a tariff on nations trading with Russia on oil, both countries — who import crude — hit back at the US over the move. India said was unjust and unreasonable for America to levy tariffs on it while the US and Europe continued trade ties as well. China was more defiant in its stance. Its deputy permanent representative to the UN said, 'The US itself continues to engage in trade with Russia to this day. Why should it be acceptable for the US to do so, but not for others? Isn't this 'only allowing oneself to set fires while forbidding others from lighting lamps'?' Also, amid this drama, a further thaw in India-China ties came with the news that PM Modi would be visiting the Asian country later this month for the SCO summit. What does this mean for world politics? Should the US be worried? STORY CONTINUES BELOW THIS AD A portion of a road collapsed, near Bhatwari in Uttarkashi district, Uttarakhand. The collapsed road had stalled the ongoing rescue operations at flood-hit Dharali in Uttarkashi. PTI 5) Earlier this week, a cloudburst resulting in flash floods caused unprecedented damage in Uttarakhand's Dharali village, with five people and over 100 yet missing. The devastation has put a spotlight on the hill state and its brush with natural disasters. But why is it that Uttarakhand is vulnerable to natural tragedies? 6) Travelling by air can often be challenging. You have to be mindful of what you are carrying and how much. And this week, an Indian Army officer got into trouble over this very issue — extra baggage. An Army officer, Ritesh Kumar Singh, faces charges and a police investigation after he assaulted staff of SpiceJet at Srinagar airport. The scuffle occurred after he was asked to pay for excess baggage. The Indian Army said it was looking into the incident and would decide on the further course of action based on the outcome of the investigation. 'The Indian Army is committed to upholding the highest standards of discipline and conduct and takes all allegations seriously,' its public relations office said. STORY CONTINUES BELOW THIS AD But what went wrong? Why did the soldier resort to violence in the first place? 7) Talking of the Indian Army, Bollywood is releasing a new movie on the heroics of Major Shaitan Singh, who valiantly led 120 Indians against Chinese troops in the Battle of Rezang La. The movie, titled 120 Bahadur, stars Farhan Akhtar. As you await the release of this movie, here's the true story of the hero. And this marks the end of our weekly wrap. Bookmark this page if you would continue to read more of our reports.
United News of India
14 hours ago
- Business
- United News of India
NSA Doval meets Russia's First Deputy Prime Minister in Moscow
Delhi/Moscow, Aug 8 (UNI) Russia's First Deputy Prime Minister Denis Manturov held a meeting with India's National Security Advisor Ajit Kumar Doval, who is now in Moscow. The parties discussed topical issues of bilateral military-technical cooperation, as well as the implementation of joint projects in other strategic sectors, including civil aircraft manufacturing, metallurgy, and the chemical industry, the Russian embassy in India tweeted. Doval, who arrived in Russia on Wednesday, has already called on Russian president Vladimir Putin and other leaders. According to sources, Doval is visiting Russia in the run up to Putin's official trip to India later this year. His trip also coincides with US president Donald Trump imposing a further 25 percent tariff on Indian goods entering his country's market as penalty for New Delhi continuing to buy Russian oil. With the latest tariff hike, the total tariff on Indian goods reaching the US has gone up to a stiff 50 percent. UNI SSP SS More News NSA Doval meets Russia's First Deputy Prime Minister in Moscow 09 Aug 2025 | 2:29 AM Delhi/Moscow, Aug 8 (UNI) Russia's First Deputy Prime Minister Denis Manturov held a meeting with India's National Security Advisor Ajit Kumar Doval, who is now in Moscow. see more.. Delhi CM salutes sanitation workers' dedication, vows to protect their dignity, rights & honour 08 Aug 2025 | 11:48 PM New Delhi, Aug 8 (UNI) Saluting the dedication and work done by city's sanitation workers, Delhi Chief Minister Rekha Gupta today said that the relentless effort put in by them to make the national capital clean and free from waste is something that cannot be expressed in words. see more.. Delhi CM seeks action on Rs 5,200 cr labour fund left unspent by previous Govt 08 Aug 2025 | 11:39 PM New Delhi, Aug 8 (UNI) Delhi Chief Minister Rekha Gupta delivered a strong statement in the legislative assembly today, criticising the previous government over declarations regarding workers' welfare, alleging they were not translated into meaningful action. see more.. Delhi traders concerned over certain clauses in GST Amendment Bills, says opposition 08 Aug 2025 | 10:39 PM New Delhi, Aug 8 (UNI) The Delhi Assembly today witnessed heated discussions over two GST Amendment Bills tabled by the government, with the Aam Aadmi Party (AAP) raising concerns about their potential impact on small traders. see more.. China welcomes PM Modi's upcoming visit to Tianjin for SCO Summit on Aug 31-Sep 1 08 Aug 2025 | 10:37 PM New Delhi, Aug 8 (UNI) China today welcomed Prime Minister Narendra Modi's upcoming visit to Tianjin for the Shanghai Cooperation Organisation (SCO) Summit saying it will be a ''gathering of solidarity, friendship and fruitful results.'' ''China welcomes Prime Minister Modi to China for the SCO Tianjin Summit. We believe that with the concerted effort of all parties, the Tianjin summit will be a gathering of solidarity, friendship and fruitful results,'' Chinese Foreign Ministry spokesman Guo Jiakun said.
Malaysia Sun
17 hours ago
- Business
- Malaysia Sun
"Tianjin summit will be a gathering of friendship": China welcomes PM Modi for SCO Summit
New Delhi [India], August 8 (ANI): China has officially extended a welcome to Prime Minister Narendra Modi for the Shanghai Cooperation Organisation (SCO) Summit, which will be held in Tianjin at the end of this month. Addressing a press briefing in Beijing on Friday, Chinese Foreign Ministry spokesperson Guo Jiakun made this announcement, expressing optimism that the gathering would strengthen regional cooperation. The Ministry of External Affairs has not yet issued a statement on the Prime Minister's visit. The development comes amid tariffs imposed on India by United States President Donald Trump for buying Russian oil. 'China welcomes Prime Minister Modi to China for the SCO Tianjin Summit. We believe that with the concerted effort of all parties, the Tianjin summit will be a gathering of solidarity, friendship and fruitful results, and the SCO will enter a new stage of high-quality development featuring greater solidarity, coordination, dynamism and productiveness,' the Chinese Foreign Ministry spokesperson stated. China will host the SCO Summit in Tianjin from August 31 to September 1 this year and leaders of over 20 countries, including all member states of the SCO, and heads of 10 international organisations will attend relevant events as per the Chinese Ministry spokesperson. Prime Minister Modi last visited China in 2018 on two occasions. First, during the month of April for the India-China Informal Summit at Wuhan, and later in June for the 18th meeting of the Council of Heads of State of SCO in Qingdao. Prime Minister Narendra Modi last met with Chinese President Xi Jinping in October 2024 on the sidelines of the 16th BRICS Summit in Kazan, Russia. During their meeting, both leaders welcomed the agreement on patrolling arrangements along the Line of Actual Control in eastern Ladakh. They agreed that the Special Representatives would meet at an early date to oversee the management of peace and tranquillity in border areas and to explore a fair, reasonable and mutually acceptable solution to the boundary question. This meeting occurred shortly after the disengagement and patrolling agreement, and the resolution of issues that had arisen in the India-China border areas in 2020. It was a highly anticipated meeting between PM Modi and President Xi, as it came at a pivotal moment in India-China relations, during a time when there was a border standoff between India and China that began in eastern Ladakh along the LAC in 2020, sparked by Chinese military actions. PM Modi also assured India's full support to China's 2025 SCO presidency during the meeting. the SCO was established in the year 2001. Apart from India the other countries in the bloc are China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan,Uzbekistan, Pakistan, Iran and Belarus. Defence Minister Rajnath Singh had attended the Shanghai Cooperation Organisation (SCO) Defence Ministers' meeting in Qingdao in China in June this year. Earlier this year, External Affairs Minister S Jaishankar, along with fellow Shanghai Cooperation Organisation (SCO) Foreign Ministers, called on Chinese President Xi Jinping in Tianjin. During the meeting, Jaishankar apprised Xi of the recent development of bilateral ties and conveyed the greetings of President Droupadi Murmu and Prime Minister Narendra Modi to Xi. The EAM was on an official visit to China to attend the SCO Foreign Ministers Meeting. (ANI)
Hans India
18 hours ago
- Business
- Hans India
China Greets News of PM Modi's Planned SCO Summit Trip
China welcomes PM Modi to visit China for the PM Modi SCO Summit 2025 in Tianjin for the Shanghai Cooperation Organisation (SCO) Summit, reports The Times of India. The summit meeting between the two leaders at the SCO meeting will provide a much-needed boost to India China relations after two years of strained ties. 'This is an important meeting that marks the beginning of a new year for the Shanghai Cooperation Organisation. We hope that through the efforts of the Chinese side and all members of the Shanghai Cooperation Organisation, this meeting will be a meeting of solidarity, friendship and fruitful results,' said Chinese Foreign Ministry spokesperson Guo Jiakun at a press conference on Friday. PM Modi visit to China for SCO Summit The PM Modi visit to China for SCO Summit China will be Modi's first to China since 2019. This year, the SCO hosted by China is viewed as a major step in normalising India China relations as the world watches the PM Modi foreign visit 2025 closely in light of geopolitical shifts. New Delhi and Beijing have conducted multiple meetings over the past two years as the two nations slowly regain the trust needed for regular dialogue at Shanghai Cooperation Organisation meeting. In recent months, meetings have occurred between Defence Minister Rajnath Singh and NSA Ajit Doval and their Chinese counterparts. India China ties have broadened beyond the contentious border row and now also involve areas of indigenous security, profitable cooperation and the need to reset the strategic computations with each other. Against this background, the PM Modi SCO Summit 2025 visit to China may be the important- demanded catalyst for India China diplomacy to progress on areas of common interests similar as fighting terrorism, trade diversification and border operation, setting a strong foundation for a better bilateral relationship in an uncertain world.
United News of India
18 hours ago
- Business
- United News of India
Delhi traders concerned over certain clauses in GST Amendment Bills, says opposition
New Delhi, Aug 8 (UNI) The Delhi Assembly today witnessed heated discussions over two GST Amendment Bills tabled by the government, with the Aam Aadmi Party (AAP) raising concerns about their potential impact on small traders. Leader of Opposition Atishi claimed that the proposed changes could lead to arbitrary compliance demands and increase bureaucratic hurdles for businesses. Atishi stated that traders across the city had expressed anxiety over certain clauses in the Bills. She argued that the amendments grant the government broad powers to demand documents in any format, removing earlier fixed requirements. "This opens the door to arbitrary harassment," she said, adding that the lack of clarity could create uncertainty for businesses. The AAP leader also criticized the government's plan to provide tax exemptions to Special Economic Zones (SEZs), alleging preferential treatment for corporate entities while small traders face stricter compliance. "The largest SEZs in the country are owned by industrialists close to the BJP. While they get tax relief, ordinary traders are burdened with new restrictions," she said. Atishi demanded that the government address traders' concerns and clarify the intent behind the amendments. The Bills, which also reportedly affect the real estate sector, were to be taken up for discussion and passage later. UNI ATK RN More News China welcomes PM Modi's upcoming visit to Tianjin for SCO Summit on Aug 31-Sep 1 08 Aug 2025 | 10:37 PM New Delhi, Aug 8 (UNI) China today welcomed Prime Minister Narendra Modi's upcoming visit to Tianjin for the Shanghai Cooperation Organisation (SCO) Summit saying it will be a ''gathering of solidarity, friendship and fruitful results.'' ''China welcomes Prime Minister Modi to China for the SCO Tianjin Summit. We believe that with the concerted effort of all parties, the Tianjin summit will be a gathering of solidarity, friendship and fruitful results,'' Chinese Foreign Ministry spokesman Guo Jiakun said. see more.. Delhi govt soon bringing policy on bore well regularisation: Water Minister Verma 08 Aug 2025 | 9:43 PM New Delhi, Aug 8 (UNI) Delhi's Water Minister Parvesh Verma today made a series of announcements in the assembly while addressing the capital's water crisis, the issue of bore well sealing, and problems in unauthorised colonies, and also criticised the failures of the previous AAP government. see more.. Delhi GST Amendment Bill passed in House, boost to ease of doing business: says CM 08 Aug 2025 | 9:26 PM New Delhi, Aug 8 (UNI) The Delhi Goods and Services Tax (Amendment) Bill 2025, aimed at reaffirming the government's commitment to simplifying tax administration, boosting compliance, and providing substantial relief to taxpayers was passed in the Legislative Assembly today. see more.. PM Modi speaks with 'my friend' President Putin, amid rising tensions with US over Russian oil purchase 08 Aug 2025 | 9:04 PM New Delhi, Aug 8 (UNI) In a key development amid the rising tensions with the US, Prime Minister Narendra Modi today spoke on the phone with 'my friend' President Vladimir Putin of Russia, during which they discussed Ukraine and reviewed the bilateral agenda. see more.. Four paws, one mission: Army's canine warriors brave landslides and floods to save lives near Harsil 08 Aug 2025 | 7:53 PM Parwinder Sandhu New Delhi, August 8 (UNI) As search and rescue teams from the Indian Army, NDRF, and SDRF work tirelessly after the devastating cloudburst near Harsil, a special group of heroes is quietly making a big impact: six four-legged soldiers and their dedicated handlers. see more..
