"Talk Doesn't Mean Anything" Trump Snubs Putin, Announces New Plan To Send Weapons To Ukraine
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Time of India
37 minutes ago
- Time of India
US tariffs offer India a trade opportunity, auto sector among key beneficiaries: NITI Aayog
New Delhi: Higher tariffs imposed by the United States on major trading partners such as China, Canada and Mexico could open a strategic trade window for India, with sectors including automobiles, auto components, and electrical machinery poised to benefit, according to a new report by NITI Aayog, Economic Times reports. The report, released in the latest edition of the government think tank's Trade Watch Quarterly, outlines how India could gain competitiveness in 22 of the top 30 product categories (at the HS-2 level) exported to the US. Notably, several of these categories include automotive-related goods and electronics, where India has been steadily scaling up production capacity under various incentive schemes. This shift follows steep import tariffs introduced by the Trump administration—30 per cent on Chinese goods, 35 per cent on Canadian, and 25 per cent on Mexican imports—which have significantly altered trade dynamics. For Indian exporters, this presents an opportunity to expand market share in the world's largest consumer economy, the report said. 'India's relative tariff advantage vis-a-vis major competitors presents a strategic window to expand market share in the US market, especially in sectors such as pharmaceuticals, textiles, and electrical machinery,' NITI Aayog stated. The analysis also highlights opportunities for India's mineral fuels, plastics, furniture, and seafood exports—industries tied closely to broader manufacturing and supply chains, including the auto sector. Auto and Electronics Could Gain The evolving tariff regime could particularly support Indian manufacturers of EV components, semiconductors, and other electrical systems used in automotive production. As global automakers diversify sourcing away from China, India may emerge as a cost-competitive alternative for US-bound automotive supplies. India's growing EV ecosystem—supported by schemes like FAME and PLI—places it in a strong position to supply components and systems for the American auto market, provided trade terms are favourable. However, the report warns that any gains will depend on swift, sector-specific policy responses from the Indian side. Strategic Trade Talks Underway Amid this changing landscape, a delegation from India's commerce ministry has arrived in Washington for another round of talks on a proposed bilateral trade agreement. The discussions aim to finalise an interim deal by the fall, with a full agreement potentially materialising thereafter. The US is seeking duty reductions on various industrial and agricultural goods, including automobiles (especially EVs), while India is pushing for better access for its labour-intensive exports such as textiles, gems, footwear, and auto parts. India is also seeking relief from steep US tariffs on its steel (50per cent ), aluminium (50per cent ) and automobile exports (25per cent ). The talks follow earlier rounds held from June 26 to July 2 and are taking place ahead of a new US deadline of August 1 for implementing additional tariffs on multiple countries, including India. Tariff Advantage and Challenges According to NITI Aayog, India's competitiveness remains steady in six key product categories—segments that account for nearly one-third of its US-bound exports. However, India enjoys a relative edge in 78 products that represent over half of its total exports to the US. Still, challenges remain. In six categories, India faces slightly higher average tariffs than competitors, a gap that could be closed through negotiations. Furthermore, in 17 of the top 100 products exported to the US, India's position remains unchanged due to the absence of any tariff differential. Policy Recommendations To fully leverage the shifting trade environment, NITI Aayog has called for the expansion of PLI schemes into labour-intensive sectors such as leather, furniture and handicrafts. It also recommended lowering industrial electricity tariffs through rationalised cross-subsidies and increased renewable energy use—measures aimed at reducing production costs. The report further urged India to explore a services-focused trade deal with the US, following the India–UK model, including provisions for digital trade in IT, finance, and professional services. As India and the US continue negotiating, the outcome could reshape trade flows across multiple sectors—including automobiles—offering Indian exporters a vital competitive edge amid rising global protectionism.
Time of India
39 minutes ago
- Time of India
Zelenskiy thanks Trump for readiness to support Ukraine
Ukrainian President Volodymyr Zelenskiy said on Monday he had spoken to U.S. President Donald Trump after his announcement of new weapons for Ukraine and thanked him for his support. "It was a very good conversation. I thanked him for his readiness to support Ukraine and to continue working together to stop the killings and establish a lasting and just peace," Zelenskiy wrote on the Telegram messaging app. Zelenskiy said he and Trump had agreed to speak more frequently and "continue coordinating our steps". by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Free P2,000 GCash eGift UnionBank Credit Card Apply Now Undo He also said he had a very good conversation with NATO Secretary General Mark Rutte, who met with Trump at the White House on Monday. Trump told reporters he was disappointed in Russian President Vladimir Putin and that billions of dollars of U.S. weapons would go to Ukraine. Live Events He also threatened sanctions on buyers of Russian exports unless Russia agreed to a peace deal , expressing frustration at repeated Russian attacks on Ukrainian cities. But the threat of sanctions came with a 50-day grace period. The weapons would include Patriot air defence missiles , which Ukraine has urgently sought. Zelenskiy had earlier met U.S. special envoy to Ukraine Keith Kellogg in the Ukrainian capital Kyiv, where they discussed boosting Ukraine's air defences and Kyiv buying weapons with European help. Trump had said on Sunday that he would send Patriot air defence missiles to Ukraine. "We discussed the path to peace and what we can practically do together to bring it closer. This includes strengthening Ukraine's air defence, joint production, and procurement of defence weapons in collaboration with Europe," Zelenskiy wrote on X. "And of course, sanctions against Russia and those who help it." Trump, who began his second term with a more conciliatory approach to Russia, has in recent weeks signalled disenchantment with Putin as Moscow has stepped up air strikes on Kyiv and other Ukrainian cities. An air-raid alert was declared in Kyiv shortly after the meeting between Kellogg and Zelenskiy on Monday.
News18
an hour ago
- News18
Pentagon Withdraws Military Top Brass From Aspen Security Forum Citing Anti-Trump Bias
Last Updated: The Aspen Security Forum, hosted annually by the Aspen Institute, is considered one of the nation's premier gatherings on national security The US Department of Defence has abruptly pulled approximately a dozen high-ranking military officials from participating in this week's Aspen Security Forum, citing the Aspen Institute's alleged left-leaning political orientation and its inclusion of vocal critics of President Donald Trump, according to a report by Just The News. Despite being listed on the event's agenda, senior defence leaders, including the Secretary of the Navy and the Commander of the US Indo-Pacific Command, will no longer attend the event, a source confirmed to Just The News. Pentagon press secretary Kingsley Wilson told the news website: 'The Department of Defence has no interest in legitimizing an organization that has invited former officials who have been the architects of chaos abroad and failure at home." The Aspen Security Forum, hosted annually by the Aspen Institute — often dubbed 'the mountain retreat for the liberal elite" — is considered one of the nation's premier gatherings on national security and foreign policy. However, the Pentagon's decision signals growing tensions between the Biden administration and the Trump-aligned Department of Defence. Wilson further added, 'They are antithetical to the America First values of this administration. Senior representatives of the Department of Defence will no longer be participating in an event that promotes the evil of globalism, disdain for our great country, and hatred for the President of the United States." Republican Senator John Cornyn of Texas, who was also scheduled to speak at the forum, has similarly pulled out. At the Turning Point USA Student Action Summit this weekend, Defence Secretary Pete Hegseth echoed the administration's stance, stating the DoD under past Democratic leadership had been 'distracted by experiments in left-wing ideology." The Pentagon's withdrawal is being interpreted as a symbolic rejection of institutions perceived as hostile to Trump's political platform, and a broader statement on where this administration intends to draw its ideological lines. view comments First Published: July 15, 2025, 08:18 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
