- 5 months ago
In this edition of World Today, the focus is on the United States' imposition of an additional 25% tariff on India for purchasing Russian oil, raising the total to 50%.
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00:00Hello and welcome, I am Pranayupad Dhai and you are watching World Today.
00:17US President Donald Trump's 25% additional tariff bomb on India has stoked a massive political
00:23storm. But Prime Minister Narendra Modi has given a clear message to the United States.
00:27No compromise on the interests of farmers. Here is a news report.
00:37August 7th and Trump's sweeping tariffs across the world have come into effect.
00:42US President Donald Trump on his Truth Social said the move is bringing in billions of dollars
00:48into the United States of America. The US President had announced a revised list of tariffs
00:55for its trading partners and the deadline was extended to August 7th.
01:00India was hit by an additional 25% tariffs for purchasing oil and energy from Russia which
01:06now totals up to 50%. The base tariff of 25% takes effect from August 7th. Whereas additional
01:14tariff charge begins from August 27th after a 21-day period.
01:19India and Brazil both face 50% tariff, the highest in the world. The tariff imposition
01:25on India is expected to hit major industries. These include textile clothing, gems and jewellery,
01:32leather and footwear, animal products, chemicals, electrical and mechanical machinery.
01:39Prime Minister Narendra Modi sent out a strong message a day after Trump imposed additional
01:45tariffs on India. Prime Minister said the country will never compromise with the interests of its
01:51farmers and fishermen. Prime Minister also added that he knows that he will have to pay the
01:57price and he was ready to do it for the farmers.
02:04The products exempted from the tariffs include pharma, crude oil, refined fuels,
02:22natural gas, coal and electricity, critical minerals, electronic goods such as computers, tablets,
02:42smartphones, solid state drives, flat panel displays and integrated circuits.
02:47As part of Trump's pressure tactics on tech firms to invest in the US, the president has threatened
02:54to impose 100% tariff on chips and semiconductors produced outside US. This has led Apple to announce
03:01a new 100 billion commitment to America, a significant acceleration of its US investment
03:07that now totals $600 billion over the next four years.
03:11Meanwhile, Trump has not announced any additional tariff on China. Trump, when asked,
03:18why did he single out India and imposed additional tariffs for doing business with Russia while China
03:24too does so, he said more of secondary sanctions were coming.
03:28Indian officials have said that there are other countries that are buying Russian oil.
03:33It's okay.
03:34Like China, for instance, buying more.
03:36It's okay, yeah.
03:36Why are you singling India out for these additional sanctions?
03:39It's only been eight hours. So let's see what happens over the next, yeah, you're going to see a lot more.
03:46So this is a taste of what happened.
03:47You're going to see a lot more. You're going to see so much secondary sanctions.
03:52Other economies are in talks with the US to reach a consensus on lowering the tariff rates,
03:57though UK, Japan, South Korea and the EU have struck a deal.
04:01Canada got a tariff rates from 25% to 35%.
04:07Trump said Canada has failed to curb the flow of the fentanyl and other drugs across the US border.
04:13With Mahaswetalala, Bureau Report, India Today.
04:16So what is the way forward?
04:21How to deal with US President Donald Trump and how the Indian-American community is bracing for these Southwinds?
04:27I'm being joined by Mr. Palash Gupta, who is the Commission Chair of Delaware Association of American Business Association from Wilmington, Delaware,
04:35a state from where the US had its previous President Joe Biden.
04:39Welcome to Wealth Today, Mr. Gupta.
04:41Thank you, Pranai Ji. Thank you for having me on your channel.
04:48And, yeah, tell me, I mean, the topic of the discussion right now is the tariffs.
04:57Definitely, Mr. Gupta, I wanted to come to this issue only,
05:00that how Indian-American community is trying to brace with the situation,
05:04because winds are already blowing south in India-US relation,
05:08and especially with President Donald Trump and his harsh stance vis-a-vis India-US relations.
05:16So my evaluation of the situation is that we don't need to be panicked right now.
05:24There is a team from US visiting India in the next couple of weeks.
05:28There will be negotiations between the Indian team and the US team.
05:34I would suggest there should be, I know we should put our ego aside and we should work for the consumers,
05:39that what is good for both the consumers in the US as well as in India.
05:43So there will be a very optimistic outcome with that negotiations.
05:49And what we need to see that how this thing started, why President Trump is singling out India right now,
05:58with right now China, European Union, Turkey, they all are buying Russian energy.
06:03But why he is singling out India recently after he took office, Prime Minister Modi came here,
06:10they had a very fruitful meeting.
06:11Mr. Bhukta, you are there in the United States.
06:13This is the same question everyone in India is asking from the US, you know,
06:18interlocutors, that what is the problem here?
06:20Because EU is buying, Turkey is buying, China is buying.
06:23Why US is singling out India here?
06:26So that is exactly what I was coming to, that when Prime Minister Modi came here,
06:30they had a very nice meeting.
06:32It was a very productive meeting.
06:34And then between that meeting and today, in these two months,
06:39something has happened which we don't know and where President Trump
06:42has taken this harsh decision against India.
06:46We need to evaluate our foreign policy.
06:48I know our external affairs minister, our ambassador in the US,
06:53the consulate generals, the Indian diaspora,
06:56everybody is trying to figure out and how to strengthen the US-India relationship.
07:01We have a very vibrant diaspora in every state here.
07:05So between the visit and right now, currently,
07:08what has happened that has, you know,
07:11taken a severe downturn on our India-US relations
07:15is a very important factor which we all need to evaluate.
07:19And I'm pretty sure Prime Minister Modi and his team
07:22are seriously thinking about that,
07:25how we can make sure that there is a win-win situation
07:27between both the countries.
07:29But Mr. Gupta, as far as the business community is concerned,
07:32since you deal with the Indian-Americans
07:34who are there in business in the United States,
07:37how the Indian-American businessmen are trying to brace up
07:40with the situation of the logistic, you know, supply chain disruption?
07:44Because, you know, this is going to disrupt a lot of import and export.
07:48So how are you guys trying to cope up with the situation?
07:51See, right now, it is too early to say what will be the outcome
07:55because nothing is solid right now.
07:58It's all negotiations right now going on.
08:01President Trump is meeting with President Putin recently.
08:05You know, very soon they are going to have a dialogue with each other.
08:08The equations between US and Russia might change.
08:11US is still in negotiations with China as well.
08:14So let's not jump guns and come to any conclusion
08:17that India has been singled out right now.
08:19Yes.
08:20See, President Trump knows that...
08:21So you mean to say that there is still scope for negotiation
08:24and a solution and a deal?
08:27I am very sure about it.
08:28I am very optimistic.
08:30And I will tell you, President Trump knows,
08:33and he has openly mentioned this,
08:36that Prime Minister Modi is a very tough negotiator.
08:39He knows how India negotiates with US.
08:42India also puts a lot of tariffs on US goods.
08:46So this is like a negotiating terms.
08:48He knows how India, you know,
08:50negotiates things from his past experience.
08:52So I think he has started with 50%.
08:54There will be an amicable number coming up
08:57between both the countries very soon.
08:59We don't need to be panicked, as I mentioned,
09:01that the situations changes every day.
09:05There will be, you know,
09:06something between US-Russia relations very soon.
09:09Right now, President Putin and Trump
09:11will come to some agreement.
09:13So I think it will be a win-win situation
09:16for all of us very soon.
09:17It's all about putting our egos out of the table
09:20and negotiating for the consumers of both the countries.
09:23And we will see a good result.
09:24Okay, Mr. Gupta, we can end this conversation
09:26on this very optimistic and a positive note
09:28that there's still a scope for a deal
09:30between India and US.
09:31And, you know, a solution can be reached.
09:34Thank you very much for joining this conversation.
09:37Sure, thank you.
09:38And moving ahead, we are getting a big news,
09:41a breaking news,
09:42because Prime Minister Nareen Modi
09:43received a phone call
09:45from the Brazilian President Lula da Silva
09:48as Brazil and India are two countries
09:51facing 50% tariff
09:53in the sweeping tariff announcement
09:55of US President Donald Trump.
09:57Both the leaders spoke over phone,
09:59as agreed,
09:59because as announced by the Brazilian President
10:02Lula da Silva,
10:03he's going to ring up,
10:04he's going to call up Prime Minister Nareen Modi.
10:06So that phone call happened.
10:07The two leaders agreed to enhance the cooperation
10:10in trade, technology, energy, defense, agriculture,
10:13health, and people-to-people ties.
10:16The Brazilian press release also mentioned
10:19that the two leaders also discussed
10:21the unilateral tariffs of United States
10:24imposed by United States.
10:26However, the Indian press release
10:28doesn't mention about this very fact
10:31or this discussion on unilateral tariffs
10:33imposed by the United States.
10:35However, both leaders recently met
10:37on the sidelines of the BRICS summit,
10:40which recently happened in Brazil.
10:41Brazil was the host of BRICS.
10:43And now, the button has been transferred to India.
10:46Now, India is chair of BRICS.
10:49So this is a big development
10:53after the U.S. tariff goes into effect.
10:58Both Brazilian President and Prime Minister Nareen Modi
11:00had a phone call.
11:01And this is a very significant phone call
11:03because both India and Brazil
11:05faces 50% tariffs announced
11:08by U.S. President Donald Trump.
11:10Thank you, Farida, for all these details.
11:18And moving on to another big development
11:20coming from Moscow.
11:23Because after months of anticipation,
11:24the much-awaited meeting
11:26between U.S. President Donald Trump
11:27and Russian President Vladimir Putin
11:29is finally on the horizon.
11:31The Kremlin has officially confirmed
11:33that an agreement has been reached
11:34for the two leaders to meet in coming days.
11:37And most likely, this meeting may take place
11:39in August itself.
11:41This will mark the first summit
11:42between the two leaders.
11:44Since 2021, the confirmation came
11:47a day after Trump's envoy, Steve Witkoff,
11:50who visited Moscow and had a meeting
11:52with Russian President Vladimir Putin
11:53and as well as his close friend
11:56and investment chief.
11:57Meanwhile, the Russian President Vladimir Putin
11:59met UAE United Arab Emirates President
12:02Sheikh Mohammed bin Zayed Al Nahyan
12:04and said that it was important
12:06for the two of them
12:07to discuss the regional security issues.
12:09He later also stated
12:11that the UAE is one of the suitable place
12:14to hold a meeting
12:15with U.S. President Donald Trump.
12:17While he stated that he was not on the whole
12:20against the idea of meeting
12:22Ukrainian President Volodymyr Zelensky,
12:24but he also added
12:25that certain conditions should be created
12:28for such a meeting.
12:29He stressed that the current situation
12:31was far from being ready for it.
12:35Meanwhile, the U.S. President Donald Trump
12:36had earlier suggested of holding a trilateral meeting
12:39with Russian President Vladimir Putin
12:41and Ukrainian President Volodymyr Zelensky.
12:44Russian Direct Investment Fund
12:46and President Putin's investment envoy,
12:49Kirill Dimitrov, said that the two leaders' meeting
12:52will be a great opportunity
12:53to convey Russia's position to the U.S. President.
12:56Excuse me for interrupting such an interesting incursion,
13:02but in light of the recent news
13:03about your possible meeting with Trump,
13:05I would like to ask you
13:06who was the initiator of the summit?
13:08Both sides showed their interest.
13:15Who said what first does not matter.
13:18We have a lot of friends
13:19that are ready to help us organize such an event.
13:22Here is one of our friends,
13:24the President of United Arab Emirates.
13:27I think we will decide,
13:28but this could be one of the suitable venues.
13:31And what about Zelensky?
13:32Will you hold meeting with him?
13:33Yeah, sure.
13:35I have been repeatedly saying
13:37that I, in general, have nothing against it.
13:39This is possible.
13:40But before that,
13:42certain conditions could be created.
13:44And unfortunately,
13:45we are still far from creating such conditions.
13:48Putin and Zelensky agreed to a summit yet?
13:51And where and when would that be?
13:53Well, there's a very good prospect that they will.
13:57And we haven't determined where,
13:58but we had some very good talks
14:00with President Putin today.
14:02And there's a very good chance
14:04that we could be ending the round,
14:08ending the end to that road.
14:09That road was long and continues to be long.
14:13But there's a good chance
14:14that there will be a meeting very soon.
14:18U.S. President Donald Trump has hit India
14:20with a 50% tariff over Russian oil import.
14:23But Apple, the mobile phone manufacturer,
14:26was notably exempted.
14:27This came just days after CEO Tim Cook
14:30gave Trump a custom gold-mounted gift.
14:33Is this a coincidence or a strategy?
14:36You decide.
14:37Even as President Trump hits India
14:43with a 50% total tariff penalty
14:45for its continued purchase of Russian oil,
14:48one company with substantial stakes in India
14:51seems to have walked free.
14:53Apple.
14:54which is going out of its way to woo Trump.
15:02It's a moment of high optics days
15:05before a sweeping economic order on semiconductors.
15:09Apple CEO Tim Cook handed over
15:10a custom-made gift to Trump.
15:13A glass statue mounted on 24-carat gold
15:16crafted by a U.S. Marine veteran.
15:18Cook called it a tribute,
15:21a token of American craftsmanship and innovation.
15:25But the timing raises eyebrows.
15:28Because right after that symbolic gesture,
15:31Trump's new tariff order exempted Apple
15:33from the fresh penalties.
15:35While most Indian imports now face
15:37a total 50% duty,
15:40Apple's flagship products often made in India
15:42have been given a clean pass,
15:45at least for the time being.
15:46Trump has meanwhile threatened
15:49a 100% tariff on imported chips
15:52and semiconductors,
15:53a move that could disrupt
15:55global tech supply chains.
15:58But Apple may already be ahead of that curve.
16:03Soon after the White House event,
16:05Cook announced Apple would invest
16:07an additional $100 billion
16:08into U.S. jobs and manufacturing,
16:12taking a total U.S. investment commitment
16:14to $600 billion.
16:18Today, Apple is announcing
16:19that it will invest $600 billion.
16:23That's with a B.
16:25In the United States over the next four years,
16:27that's $100 billion
16:29more than they were originally going to invest.
16:33And this is the largest investment
16:35Apple has ever made in America
16:37and anywhere else.
16:39And it's just an honor to have you.
16:43So was it just a generous gift
16:45or a golden bribe
16:47wrapped in patriotism?
16:50Bureau Report, India Today.
16:58And now from the updates of trade tensions,
17:01let's move on to the conflict zone of West Asia.
17:03Israeli Prime Minister Benjamin Netanyahu
17:04Netanyahu has once again stated
17:06that the Israeli,
17:08Israel intends to take over
17:10the military control of Gaza
17:12and will eventually hand it over
17:13to Arab forces
17:14that will govern it properly.
17:16But he is now facing
17:17the internal dissent.
17:19Here is a report.
17:19Amid growing international pressure
17:32to halt its ongoing offensive in Gaza,
17:34Israeli Prime Minister Benjamin Netanyahu
17:36is now facing internal dissent.
17:39The Chief of Staff of the Israel Defense Forces,
17:41Lieutenant General Eyal Zameer,
17:43has openly opposed Netanyahu's plan
17:45to fully occupy the Gaza Strip.
17:47The disagreement reportedly came to light
17:50after a high-level meeting
17:51between Netanyahu
17:53and his top security officials.
17:55Lieutenant General Zameer warned
17:56that occupying Gaza
17:57would entangle Israeli forces
17:59in prolonged conflict,
18:00risk the lives of remaining hostages
18:02and place an unsustainable burden
18:04on the military.
18:07The tensions escalated further
18:08after Netanyahu's son,
18:10Yai Netanyahu,
18:11accused Zameer of plotting a coup
18:12via post on social media.
18:14Meanwhile, some Israeli officials
18:17have also questioned Zameer's motives
18:19for opposing the Prime Minister's
18:21Gaza strategy.
18:23On the ground,
18:24the humanitarian crisis in Gaza
18:25continues to worsen.
18:27At least four children
18:28have died due to starvation,
18:29highlighting the growing severity
18:31of conditions in the war-torn enclave.
18:34In a separate development,
18:36a media report claimed
18:37that US-based consulting firm
18:39Boston Consulting Group
18:40had drafted a proposal
18:42to relocate Palestinians to Somalia.
18:46The report says that the model
18:47was created for a group
18:48of Israeli businessmen
18:49who were exploring plans
18:51for Gaza's reconstruction
18:52post-conflict.
18:54The BCG has also been involved
18:56in establishing the US and Israel-backed
18:58Gaza Humanitarian Foundation
18:59which manages aid distribution points
19:02within the Gaza Strip.
19:04Earlier this year,
19:04US President Donald Trump
19:06had also suggested
19:07relocating Gazans
19:08to third countries
19:09while proposing to transform
19:11the coastal enclave
19:12into the Riviera
19:13of the Middle East.
19:15With Neha Kumari,
19:16Bureau Report,
19:17India Today.
19:19And now some news
19:20from the space sector as well.
19:22NASA astronaut
19:23Bush Wilmore
19:23has retired
19:24months after returning
19:26from a high-profile mission
19:27that kept him in space
19:29far longer than planned.
19:31Wilmore,
19:31who spent nine months
19:32aboard
19:33International Space Station
19:35with Fallout,
19:36fellow astronaut
19:37Sunita Williams
19:39has stepped down
19:40after a distinguished
19:4125-year career.
19:43The pair piloted
19:44the first crewed flight
19:46of Boeing Starliner
19:48space aircraft
19:48and mission
19:50that captured
19:50the global headlines
19:51due to multiple
19:52in-flight issues
19:53including thruster failures
19:55and gas leaks.
19:56Our decorated
19:57US Navy Captain
19:58Wilmore flew
19:59in four different spacecraft
20:01and logged 464 days
20:03in the space.
20:04Meanwhile,
20:05NASA's
20:06interim administrator
20:07Seem Duffy
20:08has announced
20:09the plans to deploy
20:10a nuclear reactor
20:11on the moon
20:12by the year 2030.
20:13Duffy also noted
20:14that a specific region
20:16of the lunar surface
20:17holds significant
20:17strategic value
20:18and area
20:19both the US
20:20and China
20:21are eyeing it.
20:26And that's all
20:27we have in today's
20:28edition of World Today.
20:29For more international
20:30stories,
20:30do log on to
20:31India Today Global.
20:32Good night
20:32and take care.
20:34and take care.
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