Trump's India tariffs take shine off country as electronics base
SAYAN CHAKRABORTY
BENGALURU -- The steep U.S. tariffs on India announced Wednesday could take some shine off the South Asian nation's appeal as an alternative to China for electronics manufacturing, with the move coming at a time when several companies, including Apple, are considering expansion in India.
U.S. President Donald Trump announced a 25% tariff on Indian imports, higher than the 15% levy on Japan and South Korea and the 20% tax on Vietnam. That was also just one percentage point lower than the initial "reciprocal" levy on Indian imports that Trump revealed on April 2, and represents a sharp jump from the 10% near-blanket rate that he subsequently switched to.
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Japan Today
28 minutes ago
- Japan Today
Trump orders nuclear submarines moved after Russian 'provocative statements'
U.S. President Donald Trump speaks after signing the VA Home Loan Program Reform Act at the White House in Washington, D.C., U.S., July 30, 2025. REUTERS/Evelyn Hockstein By Phil Stewart, Jonathan Landay and Ryan Patrick Jones U.S. President Donald Trump on Friday said he had ordered two nuclear submarines to be positioned in "the appropriate regions" in response to remarks from former Russian President Dmitry Medvedev about the risk of war between the nuclear-armed adversaries. Security analysts called Trump's move a rhetorical escalation with Moscow, but not necessarily a military one, given that the United States already has nuclear-powered submarines that are deployed and capable of striking Russia. Medvedev on Thursday said Trump should remember that Moscow possessed Soviet-era nuclear strike capabilities of last resort, after Trump had told Medvedev to "watch his words." "Based on the highly provocative statements of the Former President of Russia, Dmitry Medvedev ... I have ordered two Nuclear Submarines to be positioned in the appropriate regions, just in case these foolish and inflammatory statements are more than just that," Trump said in Friday's social media post. He added: "Words are very important, and can often lead to unintended consequences, I hope this will not be one of those instances." Asked later by reporters why he ordered the submarine movement, Trump said: "A threat was made by a former president of Russia, and we're going to protect our people." The U.S. Navy and the Pentagon declined to comment about Trump's remarks or on whether submarines had been moved. It is extremely rare for the U.S. military to discuss the deployment and location of U.S. submarines given their sensitive mission in nuclear deterrence. Trump's comments came at a time of mounting tension between Washington and Moscow as Trump grows frustrated with what he sees as President Vladimir Putin's failure to negotiate an end to his more than three-year-old invasion of Ukraine. He did not specify what he meant by "nuclear submarines." U.S. military submarines are nuclear-powered and can be armed with nuclear-tipped missiles, although not all are. But any talk by a U.S. president about potential nuclear military capabilities raises concerns, the security experts said, noting that the United States has historically refrained from matching Russia's nuclear-saber rattling given the risks surrounding the world's most devastating weaponry. "This is irresponsible and inadvisable," said Daryl Kimball, executive director of the Arms Control Association advocacy group. "No leader or deputy leader should be threatening nuclear war, let alone in a juvenile manner on social media." Hans Kristensen of the Federation of American Scientists noted that U.S. nuclear submarines – part of the so-called nuclear triad with bombers and land-based missiles – were always positioned to launch nuclear-armed missiles at targets in Russia. "The subs are always there all the time and don't need to be moved into position," he said. "He grants Medvedev a response to these crazy statements." The United States has a total of 14 Ohio Class nuclear-powered submarines, each capable of carrying up to 24 Trident II D5 ballistic missiles that can deliver multiple thermonuclear warheads up to 4,600 miles. Between 8 and 10 Ohio Class submarines are deployed at any one time, according to the Nuclear Threat Initiative arms control group. 'COMMITMENT TRAP' Medvedev, deputy chairman of Russia's Security Council, has emerged as one of the Kremlin's most outspoken anti-Western hawks since Russia sent tens of thousands of troops into Ukraine in 2022. Kremlin critics deride him as an irresponsible loose cannon, though some Western diplomats say his statements illustrate the thinking in senior Kremlin policy-making circles. U.S. officials had told Reuters prior to Trump's latest remarks that Medvedev's comments were not being taken as a serious threat, and it is unclear what drove Trump's latest announcement beyond the public clash between the two on social media. Trump and Medvedev have traded taunts in recent days after Trump on Tuesday said Russia had "10 days from today" to agree to a ceasefire in Ukraine or be hit with tariffs. Kristensen said that Trump was creating a "commitment trap" by fueling expectations that he could resort to nuclear weapons if tensions escalated further with Russia. Still, Evelyn Farkas, executive director of the McCain Institute and a former senior Pentagon official, played down the idea that this could lead to nuclear conflict. "It's really signaling. It's not the beginning of some nuclear confrontation and nobody reads it as such. And I would imagine the Russians don't either," she said. She added that Trump's actions, however, were unlikely to get Russia to change course in Ukraine. Moscow, which has set out its own terms for peace in Ukraine, has given no indication that it will comply with Trump's 10-day deadline of August 8. Putin said on Friday that Moscow hoped for more peace talks but that the momentum of the war was in its favor. He made no reference to the deadline. Trump, who in the past touted good relations with Putin, has expressed mounting frustration with the Russian leader, accusing him of "bullshit" and describing Russia's latest attacks on Ukraine as disgusting. © Thomson Reuters 2025.
Japan Times
28 minutes ago
- Japan Times
World economies reel from Trump's tariffs punch
Global markets reeled Friday after President Donald Trump's tariffs barrage against nearly all U.S. trading partners as governments looked down the barrel of a seven-day deadline before higher duties take effect. Trump announced late Thursday that dozens of economies, including the European Union, will face new tariff rates of between 10 and 41%. However, implementation will be on Aug. 7 rather than Friday as previously announced, the White House said. This gives governments a window to rush to strike deals with Washington setting more favorable conditions. Neighboring Canada, one of the biggest U.S. trade partners, was hit with 35% levies, up from 25%, effective Friday — but with wide-ranging, current exemptions remaining in place. The tariffs are a demonstration of raw economic power that Trump sees putting U.S. exporters in a stronger position, while encouraging domestic manufacturing by keeping out foreign imports. But the muscular approach has raised fears of inflation and other economic fallout in the world's biggest economy. Stock markets in Hong Kong, London and New York slumped as they digested the turmoil, while weak U.S. employment data added to worries. Trump's actions come as debate rages over how best to steer the U.S. economy, with the Federal Reserve this week deciding to keep interest rates unchanged, despite massive political pressure from the White House to cut. Data Friday showed U.S. job growth missing expectations for July, while unemployment ticked up to 4.2% from 4.1%. On Wall Street, the S&P 500 dropped 1.6%, while the Nasdaq tumbled 2.2%. Trump raised duties on around 70 economies, from a current 10% level imposed in April when he unleashed "reciprocal" tariffs citing unfair trade practices. The new, steeper levels listed in an executive order vary by trading partner. Any goods "transshipped" through other jurisdictions to avoid U.S. duties would be hit with an additional 40% tariff, the order said. But Trump's duties also have a distinctly political flavor, with the president using separate tariffs to pressure Brazil to drop the trial of his far-right ally, former President Jair Bolsonaro. He also warned of trade consequences for Canada, which faces a different set of duties, after Prime Minister Mark Carney announced plans to recognize a Palestinian state at the U.N. General Assembly in September. In targeting Canada, the White House cited its failure to "cooperate in curbing the ongoing flood of fentanyl and other illicit drugs" — although Canada is not a major source of illegal narcotics. By contrast, Trump gave more time to Mexico, delaying for 90 days a threat to increase its tariffs from 25% to 30%. But exemptions remain for a wide range of Canadian and Mexican goods entering the United States under an existing North American trade pact. Carney said his government was "disappointed" with the latest rates hike but noted that with exclusions the U.S. average tariff on Canadian goods remains one of the lowest among U.S. trading partners. With questions hanging over the effectiveness of bilateral trade deals struck — including with the EU and Japan — the outcome of Trump's overall plan remains uncertain. "No doubt about it — the executive order and related agreements concluded over the past few months tears up the trade rule book that has governed international trade since World War II," said Wendy Cutler, senior vice president of the Asia Society Policy Institute. On Friday, Trump said he would consider distributing a tariff "dividend" to Americans. Notably excluded from Friday's drama was China, which is in the midst of negotiations with the United States. Washington and Beijing at one point brought tit-for-tat tariffs to triple-digit levels, but have agreed to temporarily lower these duties and are working to extend their truce. Those who managed to strike deals with Washington to avert steeper threatened levies included Vietnam, Japan, Indonesia, the Philippines, South Korea and the European Union. Among other tariff levels adjusted in Trump's latest order, Switzerland now faces a higher 39% duty.
Japan Times
28 minutes ago
- Japan Times
Trump says he moved U.S. nuclear subs after barbs with Russia
President Donald Trump said the U.S. is moving two nuclear submarines to respond to what he called "highly provocative statements' from former Russian President Dmitry Medvedev. "I have ordered two Nuclear Submarines to be positioned in the appropriate regions, just in case these foolish and inflammatory statements are more than just that,' Trump said in a social media post Friday. "Words are very important, and can often lead to unintended consequences, I hope this will not be one of those instances.' Trump, speaking to reporters later Friday, suggested he was acting out of caution, saying that "we had to do that, we just have to be careful and a threat was made and we didn't think it was appropriate.' "I have to be very careful, so I do that on the basis of safety for our people,' he said. "We're going to protect our people.' Asked what Medvedev had said that angered him, Trump responded, "You just have to read what he said. He was talking about nuclear. When you talk about nuclear, we have to be prepared, and we're totally prepared.' The office of the Secretary of Defense referred requests for more details to the White House and declined to comment on whether Trump was referring to submarines armed with nuclear weapons rather than simply nuclear-powered vessels. Defense Secretary Pete Hegseth, on his personal social media account, shared a screenshot of Trump's post without comment. Officials at the Kremlin didn't immediately respond to a request for comment. Trump's post Friday was the latest in a heated public exchange with Medvedev, who currently serves as Russia's deputy chairman of the security council. Medvedev, in a July 28 post on X, had warned Trump that "each new ultimatum is a threat and a step towards war. Not between Russia and Ukraine, but with his own country.' West Texas Intermediate crude, the U.S. benchmark for oil, fell as much as 3.2% Friday after weak jobs and manufacturing data, although prices later stabilized following Trump's comments on the potential threat from Russia. His hardening stance toward Russia in recent weeks is raising speculation that the U.S. will impose tariffs on nations buying crude from Moscow, which could tighten global supplies. Trump has said he expects to hit Russia with sanctions after providing a new deadline — which falls on Aug. 8 — for Russian President Vladimir Putin to halt the war in Ukraine. In a social media post on Thursday, Trump assailed Russia and India — a major customer for Russian energy — and lashed out at Medvedev, calling him a "failed' former president who needed to "watch his words.' "He's entering very dangerous territory!' Trump had said. Medvedev responded in a post to Telegram hours later in which he said that Russia would continue in its own way, jabbing at Trump. Russian Security Council Deputy Chairman Dmitry Medvedev attends a meeting of the Council for Science and Education at the Joint Institute for Nuclear Research in Dubna, Russia, in June last year. | Sputnik / Pool / via REUTERS Trump's interactions with Medvedev intensified in the same week that U.S. Secretary of State Marco Rubio dismissed the Russian official as "not a relevant player.' Jennifer Kavanagh, senior fellow and director of military analysis at Washington-based think tank Defense Priorities, said the social media exchange was an "unhelpful and a very risky way to do international diplomacy.' The U.S. typically has four or five submarines on "hard alert' at any time, Kavanagh said, downplaying the likelihood that Trump significantly changed U.S. nuclear posture. "The likelihood is there are already nuclear submarines positioned in locations where they could strike Russia if necessary,' she said. Putin also has dismissed Trump's latest effort to pressure him into peace, saying that his war goals in Ukraine are unchanged and dismissing calls for a ceasefire. Putin said that recent talks between Ukraine and Russia in Turkey were "positive in general' and dismissed frustration over the war by casting it as the result of "excessive expectations,' without directly naming Trump. Trump campaigned in the 2024 election on a pledge to quickly bring Russia's war in Ukraine — now well into its fourth year — to an end. Those efforts have failed to materialize with Putin only making maximalist demands for Ukrainian territory and rebuffing calls for face-to-face discussions with Ukraine's leader Volodymyr Zelenskyy. Matthew Kroenig, vice president and senior director at the Scowcroft Center for Strategy and Security at the Atlantic Council, cast Trump's Friday post as a "brilliant move' and "all part of trying to force Putin to the negotiating table.' Russian Foreign Minister Sergey Lavrov on Friday had said it was encouraging that U.S. officials remained open to continuing the conversation — a message posted shortly before Trump's submarine announcement. "The substantive discussions on the Ukrainian issue that have been taking place between Moscow and Washington since the beginning of the year have been very useful and have yielded results,' Lavrov said in comments published on the ministry's website. Trump had said on Thursday that his special envoy Steve Witkoff would head to Moscow after wrapping up a trip to Middle East, though he did not provide an exact date for the visit. The White House didn't immediately respond to a request for comment on whether Witkoff still planned to travel to Russia.
