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'25% not enough': Trump says he may increase tariffs on India in the next 24 hours
Economic Times
·
1d ago
Medial
U.S. President Donald Trump announced plans to increase tariffs on Indian imports beyond the initial 25% as part of escalating trade tensions. Trump's decision is partly driven by India's continued purchase of Russian oil amidst the ongoing conflict involving Ukraine, emphasizing his dissatisfaction with India's trading relations and tariffs. The Kremlin criticized these U.S. tactics as illegitimate, defending countries' rights to choose trading partners. New Delhi deemed the tariff threats unjustified.
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Trump says may raise US auto tariffs in 'not too distant future'
Economic Times
·
1m ago
Medial
U.S. President Donald Trump announced a potential increase in tariffs on imported automobiles to boost domestic manufacturing. Currently imposing 25% levies on foreign autos, he suggested going higher to encourage plant construction in the U.S. This announcement led to a drop in auto shares, with Ford and General Motors experiencing declines. GM anticipates up to a $5 billion impact on its 2025 earnings due to current tariffs.
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Trump says all BRICS nations, including India, to face additional 10% tariff
Economic Times
·
29d ago
Medial
U.S. President Donald Trump announced that BRICS nations, including India, would face an additional 10% tariff, accusing the bloc of trying to undermine the U.S. dollar. Trump stated that India would not be exempted from the tariffs as a part of BRICS. Though the tariff threat isn't immediate, it would be enacted if any BRICS country takes actions deemed "anti-American." Trump added he doesn't see BRICS as a real threat to America.
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Mission 500: Donald Trump, PM Modi agree to double bilateral trade to $500 bn by 2030, sources to BT
Business Today
·
4m ago
Medial
Donald Trump and PM Modi have agreed to increase bilateral trade between the U.S. and India to $500 billion by 2030. This agreement does not involve any commitment from India regarding trade tariffs. In the fiscal year 2023-24, the U.S. was India’s largest export market, accounting for 17.74% of India’s total exports, with Indian exports to the U.S. totaling $77.52 billion.
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Donald Trump tariffs marginally favourable for Indian smartphone exports: Crisil
Economic Times
·
3m ago
Medial
US tariffs, particularly those initiated by President Donald Trump, may slightly benefit India's smartphone exports. While U.S. tariffs on Chinese imports stand at 245%, Indian exports face a lower tariff of 26%. This could make Indian-made smartphones more competitive, despite being priced higher than Chinese ones. However, such tariffs may increase U.S. inflation and push global manufacturers to seek markets with lower tariffs, potentially impacting India's export boost in the longer term.
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'Don't pick fights with powerful nations': Zoho's Sridhar Vembu after Trump imposes 25% tariffs on India
IndianStartupNews
·
4d ago
Medial
Zoho founder Sridhar Vembu advised Indian leaders to avoid confrontations with powerful nations, stressing the importance of maintaining good international relations. Amid Trump imposing 25% tariffs on Indian imports and criticizing India’s ties with Russia, Vembu acknowledged India's strategic and technological development work. He also praised the government's diplomatic efforts but warned against provocative actions, emphasizing the critical importance of the next two decades for India’s growth given its favorable demographics and talent pool.
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Donald Trump says open to naming Tesla CEO Elon Musk as an adviser; hints at ending EV tax credit
Economic Times
·
11m ago
Medial
Donald Trump, former US President, stated that if he were to be elected again, he would consider ending the $7,500 tax credit for electric vehicle purchases. He also expressed openness to naming Tesla CEO Elon Musk to a cabinet or advisory role, acknowledging Musk's intelligence. Trump had sought to repeal the tax credit during his presidency, and he criticized Treasury Department rules that made it easier for automakers to utilize the credit. He additionally mentioned his intention to discourage car exports from Mexico for US consumers by imposing tariffs. Trump also criticized Google and hinted at potential consequences for the company. Regarding TikTok, he did not directly address continuing Chinese ownership but expressed difficulty in banning the app due to concerns about free speech.
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Taiwan's Foxconn says it can plan production around Trump tariffs
Economic Times
·
5m ago
Medial
Foxconn, the world's largest contract electronics manufacturer, is prepared to adjust its production in response to new U.S. tariffs, according to Chairman Young Liu. The company manufactures in both the U.S. and Mexico, allowing flexibility despite the 25% tariff imposed by President Trump. Liu emphasized that while Foxconn can manage the production shift, overall tariffs would negatively impact the global economy by reducing market size.
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Elon Musk says he will cut back on political spending after heavily backing Trump in 2024
Economic Times
·
2m ago
Medial
Elon Musk, a major financial supporter of Donald Trump, announced plans to reduce his political campaign spending. During a Bloomberg forum, Musk expressed disenchantment with politics after an unsatisfactory experience with the Department of Government Efficiency. He spent over $250 million supporting Trump in the presidential campaign, mainly through America PAC, and was involved in other political activities. Despite his efforts, Musk intends to decrease future political contributions, stating he believes he's done enough.
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Companies have a playbook for tariffs under Trump. It includes price increases.
Livemint
·
9m ago
Medial
Companies are considering potential price increases in response to proposed tariffs under the Trump administration. Some CFOs are hesitant to raise prices as customers are already feeling the strain of inflation. While price hikes are not the only option, they are being considered by companies as a response to potential tariffs. Many companies have diversified their supply chains away from China in recent years to mitigate future trade issues. CFOs face challenges in determining the balance between price increases and other options to offset tariffs, as consumers may not be open to additional price increases.
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Zoho CEO Sridhar Vembu revives 70-hour work week debate, says no need to work to 'demographic decline
YourStory
·
7m ago
Medial
Zoho Corporation CEO Sridhar Vembu has ignited the debate surrounding the necessity of a 70-hour work week for economic development. He pointed out the hardworking culture of East Asian countries like Japan, South Korea, Taiwan, and China, arguing that excessive work hours have contributed to their economic growth. However, he emphasized that only a small percentage of the population, around 2-5%, needs to work long hours to drive progress, and the rest should aim for a work-life balance. Vembu also highlighted the potential negative consequences, such as low birth rates and a lonely old age, which may not be worth the economic success achieved through extensive work hours.
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