TRUMP SOFTENS RHETORIC ON INDIA
India’s state-owned refiners seek to fully revive Russian crude buys despite US pressure
Despite US pressure, Indian state-owned oil refiners aim to revive discounted Russian crude purchases. However, a lack of available cargoes due to redirection to China and increased competition from other nations is hindering these plans. While India intends to continue buying Russian oil, imports have already decreased, and further declines are expected as China increases its intake.
Can this American bill topple India's showpiece industry?
The proposed US HIRE Act threatens India’s $250bn IT sector, targeting outsourcing with a 25% tax on payments to foreign firms. While still unlikely to pass, it signals rising protectionism and populist rhetoric under Trump-aligned Republicans. Indian IT services and GCCs, heavily dependent on US clients, face real risks, prompting a need for market diversification and domestic growth.
In rebound from Trump blows, India has few choices
Nearly 20% of Indian exports go to the US, according to the World Bank.
Trump’s tariffs could reduce India's GDP by 0.5%, says CEA Anantha Nageswaran
India’s CEA V. Anantha Nageswaran said US President Trump’s 50% tariffs could trim India’s GDP by 0.5–0.6% this year, with greater risks if extended. The tariffs hit exports like textiles and jewellery, India’s key US markets. Still, he maintained a 6.3–6.8% growth outlook, citing strong Q1 growth, tax cuts, low inflation, GST relief, and fiscal support.
New sanctions on Russian oil buyers to disrupt flows, says trader Gunvor
New sanctions targeting buyers of Russian oil could significantly disrupt crude flows, according to Gunvor's Frederic Lasserre. President Trump is considering secondary tariffs on countries like China and India that purchase Russian oil, aiming to pressure President Putin. However, leaders from China, Russia, and India signal resistance to further sanctions, potentially impacting global oil supplies.
Xi and Putin to join BRICS trade summit that PM Modi decided to skip
China confirmed President Xi Jinping will join a virtual BRICS summit on Sept. 8, hosted by Brazil to discuss Donald Trump’s trade policies. Russia’s Vladimir Putin will also attend, while India’s Narendra Modi will send his foreign minister. The meeting, including South Africa, aims to back multilateralism, but no joint statement will follow the closed-door session.
India waits before calling it a reset as Trump talks of ‘special relationship’ with PM Modi
Following weeks of trade tensions and tariff impositions, President Trump has softened his stance towards India, praising Prime Minister Modi and highlighting the "special relationship" between the two nations. Despite this, New Delhi is proceeding cautiously, awaiting more concrete signals from Washington before considering a return to normalcy in relations.
US to target more businesses after Hyundai raid, top official says
The Trump administration plans to intensify immigration enforcement at workplaces, according to White House official Tom Homan, following a raid on a Hyundai facility in Georgia that resulted in hundreds of arrests. Homan stated that businesses hiring undocumented immigrants exploit them for lower wages, undercutting competition.
'Never seen anything like it' - what Trump's favorite phrase says about his presidency
President Trump frequently employs hyperbole, claiming unprecedented success and crises, reflecting his black-and-white worldview. He uses phrases like "never seen before" at increasing rates, even more than when he was in office. While his claims sometimes align with reality, they often lack factual backing, yet his administration echoes this exaggerated language.
Trump realised he was wrong about India: Ex-diplomat KP Fabian on US President's softened tone
Amidst trade tensions, former diplomat KP Fabian suggests President Trump is reconsidering his aggressive tactics towards India, particularly regarding tariffs linked to Russian oil purchases. Despite expressing displeasure, Trump affirmed a "very special relationship" with India, a sentiment reciprocated by PM Modi, who emphasized the forward-looking strategic partnership between the two nations.
Modi-Putin-Xi meet shows how chaos in the West is bolstering China's rise
The recent summit in China, featuring leaders from non-Western nations, exposed the disarray within the US and Europe. While the Shanghai Cooperation Organization summit yielded few concrete outcomes, it showcased China's coherent actions and achievable trajectory in building an alternative to the US-dominated international system.
Trump offers peace pipe. Modi responds. What next?
After a period of heightened tensions marked by sharp rhetoric, a sudden shift in tone has occurred between US President Donald Trump and India's Prime Minister Narendra Modi. Despite earlier criticisms and concerns over India's foreign policy, both leaders are now expressing warmth and optimism about the bilateral relationship.
Trump's short list for Fed: Hassett, Warsh and Waller
President Trump is considering Kevin Hassett, Kevin Warsh, and Christopher Waller to succeed Jerome Powell as Federal Reserve chair, seeking leadership aligned with his interest-rate cut demands. Trump has criticized Powell's cautious approach, citing concerns about the economy.
Trump's short list for Fed Chair: Kevin Hassett, Kevin Warsh and Christopher Waller
President Trump is considering Kevin Hassett, Kevin Warsh, and Christopher Waller to succeed Jerome Powell as Fed chair, seeking someone aligned with his desire for interest-rate cuts. This decision comes amid concerns about a softening labor market and Trump's criticism of Powell's cautious approach. The choice will significantly impact financial markets and the Fed's independence.
Trump's advisor Navarro needles India once again
Peter Navarro, trade advisor to Donald Trump, is stirring controversy by supporting tariffs on foreign remote workers, potentially impacting India's IT services exports. This move resonates with Trump's "America First" agenda, targeting Indian tech workers and outsourcing. While formal tariffs may be challenging, non-tariff barriers could be employed, posing a threat to India's $250+ billion IT industry.
Trump’s tariff rhetoric sets backdrop for India’s pharma confidence at iPHEX 2025
Alongside the exhibition, the Global Regulatory Conclave, held with CDSCO and Pharmexcil, spotlights reliance practices, pharmacopoeia convergence, and regulatory pathways to reinforce India’s standing in global pharma.
Trump has no understanding of economics, India holds 21st century's deciding vote and justified tariff policies: Edward Price
An analyst criticizes Donald Trump's India policy. Edward Price warns trade disputes harm relations. Trump's tariffs misunderstand economics. India's policies are justified for development. Price suggests India may align with China, Russia. Modi reminds the US of his options. Price recommends removing tariffs and offering an apology. He emphasizes India's importance in US-China competition.
Trump set bad cops on India. Are good cops out now?
The Trump administration seems to be softening its tone towards India. Initially, there were criticisms regarding trade and relations with Russia. Now, officials are emphasising the importance of the US-India partnership. This shift may be a strategic move. It aims to balance pressure with cooperation. The US possibly recognizes India's significance in countering China.
SCO Summit optics misleading; China still a strategic rival, warns Swaminathan Aiyar
Donald Trump's claim about India agreeing to reduce tariffs to "almost nothing" has been dismissed by economist Swaminathan Aiyar as unpredictable rhetoric. Aiyar argues that Trump's tariff war is more about geopolitics, stemming from India's stance on Russia and oil imports. Despite external pressures, India's economy shows resilience, with GDP growth surpassing expectations, indicating a capacity to withstand tariff pressures.
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