China's Shanghai Composite Index edge up 0.02%
China's Shanghai Composite Index edged up 0.02 percent to finish trading at 3,473.13. The day's trading ranged between 3,474.80 and 3,462.79. The Shenzhen Component Index closed 0.70 percent lower at 10,435.51.
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News18
38 minutes ago
- News18
'If You Decide To...': Bangladesh, 13 Others Slapped With Trump Tariff Letters
Last Updated: Japan and South Korea were among the first countries to receive the letter from Donald Trump regarding imposition of tariffs on import of their goods to the United States. Embarking on a letter-post spree on Monday, US President Donald Trump sent out similar-worded letters to the leaders of 14 countries, imposing tariffs on their imports, which would go live on August 1. Japan and South Korea became the first countries to have received the letters shortly after 9.30 pm IST, July 7, as announced by Trump earlier that he would start sending letters to 12 to 15 countries about tariffs or deals with the United States. Posting the letters addressed to the leaders of the respective countries on his social media platform, Truth Social, Trump imposed a 25% levy on imports from both Japan and South Korea. Minutes after White House Press Secretary Karoline Leavitt said during her daily briefing that more letters are expected during the course of the day, Trump posted five more letters to Malaysia, Kazakhstan, Myanmar, the Lao People's Democratic Republic, and South Africa. Tunisia, which got the letter after a short pause, was slapped with a 25% tariff on its imports. Malaysia and Kazakhstan were slapped with a 25% tariff each on their exports to the US. Both countries widely export materials such as electronics, energy, and industrial metals to the United States. The US President further imposed as high as 40% tariffs on goods from Myanmar and Laos. South Africa will face a 30% tariff, as per Trump's announcement. Trump named more countries where he sent his letters. Thailand and Cambodia were handed over with 36% tariffs, while Serbia and Bangladesh were also slapped with 35% levies. Indonesia got 32%, while Bosnia and Herzegovina received 30% tariffs. In each of his 14 letters, Trump warned against any retaliatory tariffs, threatening reciprocation from the US. 'If for any reason you decide to raise your Tariffs, then, whatever the number you choose to raise them by will be added onto the tariffs that we charge," Trump wrote. In his letters to Japan and South Korea – two of the closest allies in Asia for the US – Trump cited long-standing trade imbalance with the countries as the reason behind 25% tariffs. Donald Trump was making 'tailor-made trade plans" for different countries, which will be in the interest of the Americans, the White House Press Secretary said today. 'The President is making tailor-made trade deals. Approximately 12 more nations will receive the letters. The letters will be posted on Truth Social," she said. India may also receive the tariff letter from Trump today, even as both countries are engaged in negotiations for a bilateral trade agreement (BTA). Check Full List: About the Author Ashesh Mallick Ashesh Mallick is a Sub-Editor with over three years of experience in news writing, video production. He primarily covers national news, politics and global affairs. You can follow him on Twitter: @ More Get breaking news, in-depth analysis, and expert perspectives on everything from geopolitics to diplomacy and global trends. Stay informed with the latest world news only on News18. Download the News18 App to stay updated! Location : Washington D.C., United States of America (USA) First Published: July 08, 2025, 01:35 IST News world 'If You Decide To...': Bangladesh, 13 Others Slapped With Trump Tariff Letters | Full List
Time of India
38 minutes ago
- Time of India
VA halts major staff layoffs: How veterans affairs protects jobs and improves veteran care under Trump administration
Veterans and workers fought against big job cuts Live Events VA keeps services safe while staff leaves VA safeguards care amid cuts and protests FAQs (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The Department of Veterans Affairs (VA) said on Monday it will not do a big layoff like many other federal agencies did under the Trump administration's U.S. DOGE Service. VA was originally planning to cut nearly 83,000 workers, as revealed in a leaked memo in March, but now it will only reduce staff by about 30,000 employees by the end of this fiscal year, as per the Secretary Douglas A. Collins had earlier said these cuts were 'tough but necessary' and warned staff to 'get used to it.' The White House said cutting VA staff would make the agency less 'bloated' and more efficient and transparent, as per the report by The Washington many veterans and advocacy groups strongly opposed the deep cuts, saying it would hurt the quality of VA services. VA employees' morale dropped, and many workers left their jobs because of fears about layoffs. The VA decided not to do a big Reduction in Force (RIF) after veterans groups, Congress, and staff warned that fewer workers would hurt veteran make up a large part of the federal workforce, so cutting VA jobs risked upsetting a key Republican voting group. President Trump is popular with veterans and had said he would not cut their VA benefits. VA avoided big layoffs because many workers left voluntarily through retirement, normal job attrition, and delayed resignations, as stated by the reports.A federal hiring freeze also helped reduce staff numbers without forced layoffs. VA had about 484,000 employees in January but had about 467,000 by June—a loss of 17,000 workers. Between July and September, VA expects 12,000 more employees to leave by normal attrition or retirement programs, as mentioned in the report by The Washington an email to VA staff, Secretary Collins said after four months of study and action, VA is 'headed in the right direction' for both staff levels and customer service. Collins said even with 30,000 staff leaving, VA performance is improving, like fewer veterans waiting for disability benefits and better claims processing, according to the said it has safeguards to protect veteran care and benefits during staff reductions, with many mission-critical jobs exempt from retirement offers and hiring freezes. The VA is one of the biggest federal employers and provides medical care to millions of veterans and families, as per the in the year, VA already lost 2,400 workers due to layoffs in February. Thousands of VA workers chose early retirement this spring to avoid future cuts. In June, thousands of veterans protested in Washington and many other states against more VA staff cuts, according to the report by The Washington reversal on big layoffs may also reflect the loss of power of Elon Musk and the DOGE team, who started cutting staff aggressively in January but later fell out with Trump and left. Some DOGE team members remain in government, working on Trump's policies like changing gun rules and federal regulations, as stated by the month, DOGE lost control over awarding billions in federal funds, showing its reduced influence. Collins thanked VA staff in his email, calling them 'an important part' of the effort to improve the agency, as mentioned in the report by The Washington the VA plans to reduce staff by about 30,000 through retirements and attrition, avoiding large VA says it has safeguards to protect veteran care and mission-critical jobs during staff reductions.
News18
39 minutes ago
- News18
‘Line Being Drawn': Trump To Impose BRICS Tariffs Only If Policies Are ‘Anti-US', Says Report
Last Updated: Trump had threatened to impose 10% additional tariffs on countries aligning with "anti-American policies" of BRICS nations. The Donald Trump administration will not immediately impose an additional 10% tariff on the BRICS nations, as against what he threatened to do, but will only proceed if the countries take 'anti-American" policy actions, news agency Reuters reported, citing a source on Tuesday. President Trump on Sunday said that the US will slap an extra 10% tariff on any country aligning itself with 'anti-American policies" of the BRICS group of developing nations. This triggered sharp denials from its member nations that they are acting against the United States. China said that BRICS does not seek confrontation. 'A line is being drawn. If policy decisions are made that are anti-American, then the tariff will be charged," Reuters quoted a source as saying, who requested anonymity. The White House has not yet released any executive order in this regard against the BRICS nations, which include India, China, and Russia. Trump's threat to the BRICS nations came after their leaders issued a 31-page statement during the Summit in Brazil, criticising the US tariffs on several nations, warning that the unilateral tariffs threatened global trade. They also condemned attacks on Gaza and Iran by Israel, a close US ally. 'Any Country aligning themselves with the Anti-American policies of BRICS, will be charged an ADDITIONAL 10% Tariff. There will be no exceptions to this policy. Thank you for your attention to this matter," Trump posted on Truth Social on Monday. His announcement came as several countries in the BRICS group, including India, Indonesia, and other nations, were already in negotiations for trade deals with the US ahead of the deadline on Wednesday. The earlier three-month pause on Trump's April 2 'Liberation Day" tariffs would have gone live on July 9; however, the effective date has been postponed until August 1. It was not immediately clear if Trump's new threat would derail trade negotiations that are underway with India, Indonesia, and other BRICS nations. However, Trump sent out tariff letters to leaders of 14 countries on Monday, which included Japan, South Korea, Indonesia, South Africa, Bangladesh, among others. However, no letter has been sent to Indian Prime Minister Narendra Modi. South Africa insisted that it was not 'anti-American" and said that its talks with the US government remained constructive. (With Reuters inputs) First Published: July 08, 2025, 05:42 IST
