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Mint
18 minutes ago
- Mint
Indonesia to Continue Talks on Jets, Minerals After Tariffs Deal
(Bloomberg) -- Indonesia will keep talking with the US on sectoral tariffs, jet purchases and critical minerals after securing a 19% baseline tariff rate on exports to the world's largest economy, a government adviser said Thursday. Jakarta will 'continue to negotiate with good intention,' Mari Elka Pangestu, an adviser to President Prabowo Subianto on international trade and multilateral cooperation, said in an interview with Haslinda Amin on Bloomberg TV. That includes enhancing business interactions, helping diversify America's critical mineral- supply chain and negotiating sector-specific tariffs on products including aluminum and steel, she said. Several key business agreements linked to tariff discussions, such as PT Garuda Indonesia's plans to purchase dozens of Boeing Co. jets, also require commercial signoffs, Pangestu noted. The state-owned airline, which has been seeking to turn around its finances after sinking into the red last year, has said it could buy 50 or more jets, but a formal deal has yet to be announced. 'These are all commercial deals that will, of course, have to be done on competitive and business-to-business terms,' she said. 'There are things being done, being undertaken, to improve Garuda's performance and ability, obviously, to purchase these Boeing jets.' The purchase is part of an ongoing process to revitalize Indonesia's flag-carrier, Pangestu said. The tariffs deal, struck earlier this week between President Donald Trump and Prabowo, erases duties on US imports to Indonesia, and includes plans by the Southeast Asian nation to buy more than $19 billion of American energy and agricultural products. The agreement was among the first announced globally as the US carries out negotiations with dozens of countries. That highlights both Indonesia's ongoing effort to strategically balance economic ties between the US and China, and Southeast Asia's role as a crucial pivot in global trade dynamics amid rising geopolitical tensions. Pangestu, also a member of Indonesia's National Economic Council (DEN), said the country will grant the US increased access for exports not competing directly with Indonesian products or those in short supply locally, such as wheat and cotton. Officials expect only a modest impact on imports overall. 'It's not about opening up totally and giving in everything to the US,' she said. 'It is more nuanced and balanced than what maybe appears to the outsider.' The deal benefits Indonesia by securing lower tariffs compared to competitors on key exports to US like palm oil, she said. 'But of course we will continue to be talking to the US,' she added. 'There are other components to a trade deal that we would of course like to have more benefit coming to us.' --With assistance from Anand Menon. More stories like this are available on
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First Post
18 minutes ago
- First Post
Why Coca-Cola in America may soon taste like the one in India
US President Trump says Coca-Cola will return to using real cane sugar in the US, replacing high-fructose corn syrup for the first time since the 1980s. Cane sugar is used for Coca-Cola in other countries like India. Mexico is the largest exporter of raw cane sugar to the US. The move ties into his administration's health push read more US President Donald Trump sips Diet Coke from his wine glass after a toast, during a luncheon for world leaders at the 73rd session of the United Nations General Assembly in New York, US, September 25, 2018. File Image/Reuters United States President Donald Trump has announced that Coca-Cola will begin using real cane sugar in its US beverages, replacing the high-fructose corn syrup (HFCS) that has dominated domestic soda production since the mid-1980s. The move, according to Trump, came after direct discussions with company executives and aligns with broader health goals set by his administration. 'I have been speaking to Coca-Cola about using REAL Cane Sugar in Coke in the United States, and they have agreed to do so,' Trump posted on Truth Social on Wednesday. STORY CONTINUES BELOW THIS AD 'I'd like to thank all of those in authority at Coca-Cola. This will be a very good move by them — You'll see. It's just better!' The beverage company offered a guarded confirmation of the development. 'We appreciate President Trump's enthusiasm for our iconic Coca-Cola brand. More details on new innovative offerings within our Coca-Cola product range will be shared soon,' a company spokesperson said. However, key details — including how quickly cane sugar would be introduced or whether HFCS would be entirely phased out — remain unclear. This announcement positions the Trump White House directly within one of the most enduring debates in American nutrition and food policy: the role and health impact of various types of sweeteners, particularly — HFCS versus cane sugar. Trump's fondness for Diet Coke — which contains aspartame rather than either sugar or HFCS — is no secret. A White House staff member from the presidential food service pours a Diet Coke for US President Donald Trump before the start of a luncheon for world leaders at the United Nations during the 73rd session of the United Nations General Assembly in New York, US, September 25, 2018. File Image/Reuters In January, Coca-Cola presented him with a commemorative Diet Coke bottle. The US' desire for 'Mexican Coke' Coca-Cola's original formula used cane sugar as its sweetening agent, a practice that was consistent well into the 20th century. But during the late 1970s and early 1980s, certain factors led to a transformation in how American beverages were sweetened. A rising global sugar market, US government quotas and tariffs on imported sugar, and expanding subsidies for domestic corn created an environment where HFCS emerged as a cheaper alternative. STORY CONTINUES BELOW THIS AD By 1984, Coca-Cola had fully transitioned to using HFCS in the United States. While the controversial 'New Coke' product came and went during the 1980s, the return of 'Coca-Cola Classic' did not mark a return to cane sugar. Instead, HFCS remained the standard sweetener in the US, even as cane sugar continued to be used in Coca-Cola products sold internationally. In countries like Mexico, where sugar tariffs are less restrictive and corn subsidies are not as entrenched, Coca-Cola retained its original cane sugar formula. Over time, 'Mexican Coke' became a sought-after product in the US for consumers who perceived it to have a superior taste. The glass-bottled, cane sugar–based soda developed a cult following, with limited-edition 'throwback' versions occasionally launched domestically. The preference for cane sugar has even influenced niche markets like kosher food. Coca-Cola's Kosher for Passover version, easily identifiable by its yellow caps, uses cane sugar instead of HFCS to meet religious dietary restrictions. How the US corn lobby will be affected Trump's intervention has broader ramifications that reach beyond beverage formulation. HFCS is derived from corn, an industry heavily concentrated in the Midwestern states of Iowa, Illinois and Nebraska. These states are key players in both agricultural policy and presidential politics. Iowa, in particular, holds disproportionate influence due to its first-in-the-nation presidential caucuses. STORY CONTINUES BELOW THIS AD Corn refiners like Archer Daniels Midland (ADM) and Ingredion have benefitted from decades of farm subsidies and favourable legislation. The announcement by Trump caused immediate ripples in financial markets, with shares of ADM and Ingredion dropping by 6.3 per cent and 8.9 per cent, respectively, in after-hours trading. Meanwhile, the US sugar trade is governed by a tariff quota system that restricts the amount of sugar imported duty-free, keeping prices for domestic sugar higher and supporting sugar growers, particularly in Florida and Louisiana. This system complicates any wholesale shift from corn-based sweeteners to imported cane sugar, which remains more expensive on the US market due to these trade barriers. How dependent is the US on sugar imports In 2023, the United States imported 722,651,000 kilogrammes of raw cane sugar from Mexico alone, valued at $570.8 million, making Mexico the largest source of US cane sugar imports that year. The US also received significant sugar imports from countries including Brazil, Guatemala, the Dominican Republic, Colombia and others. According to the US Department of Agriculture, the total amount of sugar imported during the 2022–23 fiscal year reached 3.61 million tonnes, representing roughly 26.8 per cent of total sugar use in the country. STORY CONTINUES BELOW THIS AD US sugar demand was projected to hit 12.56 million tonnes in 2024, with domestic production estimated at 9.22 million tonnes. This gap reinforces America's role as one of the largest sugar importers globally, even while remaining a top-five producer. The anticipated carryover of 1.72 million tonnes suggests a stable stocks-to-use ratio of around 13.5 per cent, which is within the USDA's target range of 13.5 per cent – 15.5 per cent. Any structural shift to more cane sugar–based production would inevitably place additional pressure on these trade flows. 'Make America Healthy Again' Trump's announcement complement the broader goals of his Health and Human Services Department under US Secretary Robert F Kennedy Jr, who has launched a campaign under the slogan 'Make America Healthy Again.' This initiative seeks to tackle chronic illness through changes to food, water, and environmental safety, with a particular focus on reducing exposure to synthetic additives and processed ingredients. According to a March press release from HHS, the initiative aims to 'end America's epidemic of chronic illness by focusing on safe, wholesome food, clean water, and the elimination of environmental toxins.' Although Kennedy has condemned HFCS in the past, he has also expressed general opposition to sugar consumption. 'Sugar is poison,' Kennedy stated at a public event earlier this year, declining to distinguish between sources such as cane or corn. STORY CONTINUES BELOW THIS AD This public health campaign recently notched a major agreement with 40 American ice cream producers, including Turkey Hill and Schwoeppe Dairy, who committed to phasing out petroleum-based artificial food dyes like Red No. 3, Yellow 5, Blue 1, and others by the end of 2027. Collectively, these producers account for over 90 per cent of the ice cream sold in the US. Despite these developments, the science on HFCS versus cane sugar remains inconclusive. A December 2023 article from Healthline noted that both sweeteners have 'similar effects on a person's health,' and that both are potentially harmful when consumed in excess. This undercuts the perception that a shift from HFCS to cane sugar is automatically a health win for consumers. California Governor Gavin Newsom reacted sardonically on X, posting: 'Oh thank god! I've totally forgotten about the Epstein files now!' This was a reference to the controversy surrounding the Trump administration's previous vow to release documents related to Jeffrey Epstein. STORY CONTINUES BELOW THIS AD Earlier this month, federal authorities reversed its position saying that there was no list of high-profile individuals suspected to have been involved in Epstein's crimes. Also Watch: With inputs from agencies
Time of India
20 minutes ago
- Time of India
No fundamental right of Indians to adopt US citizen child of relative: Bombay HC
An Indian does not have the fundamental right to adopt a child of American nationality even from among relatives when the child is neither "in need of care and protection" nor in "conflict with law", the Bombay High Court has said. A division bench of Justices Revati Mohite Dere and Neela Gokhale on Wednesday refused an Indian couple's plea to adopt their relative's son, who is a US citizen by birth. Explore courses from Top Institutes in Select a Course Category Digital Marketing Data Analytics Others PGDM Healthcare MBA Design Thinking Product Management Operations Management Data Science Management Finance Leadership Technology Data Science Degree MCA Public Policy Artificial Intelligence Project Management healthcare CXO Skills you'll gain: Digital Marketing Strategies Customer Journey Mapping Paid Advertising Campaign Management Emerging Technologies in Digital Marketing Duration: 12 Weeks Indian School of Business Digital Marketing and Analytics Starts on May 14, 2024 Get Details The child in the present case does not fall within the definition of either a ' child in need of care and protection ' or a 'child in conflict with law' as per provisions of the Juvenile Justice (Care and Protection of Children) Act and Adoption Regulations , the HC said. "There is no provision in the Juvenile Justice Act nor the Adoption Regulations providing for adoption of a child of foreign citizenship even between relatives unless the 'child is in need of care and protection' or a 'child is in conflict with law'," it stated. The bench also refused to exercise its extraordinary jurisdiction to allow the adoption and said there is no "fundamental right" of the petitioners to adopt an American child. Live Events Neither is there any violation of any fundamental right of the child of American nationality to be adopted by an Indian citizen, it added. The couple will have to complete all necessary formalities of adopting the child from the US as per American laws and procedure, only after which they can go ahead with the post-adoption procedure in terms of bringing the foreign child adopted to India, the HC said. The couple sought to adopt their relatives' child, who is a citizen of the United States of America by birth. The Central Adoption Resource Agency (CARA) refused to register the couple as prospective adoptive parents as the Adoption Regulations do not facilitate adoption of an American citizen. As per CARA, provisions of the Juvenile Act only permit adoption when the child is in need of care and protection or is a child in conflict with law. The child was born in the US in 2019, but the petitioner couple brought him to India when he was a few months old. The boy has since then been living with them and they were desirous of adopting him. The CARA informed the HC that it cannot give clearance for the adoption without the child first being adopted in the US under laws applicable in that country. The bench dismissed the petition, saying it was not inclined to allow the adoption. Economic Times WhatsApp channel )
