Union minister Goyal worships at Tirumala
On their arrival, the minister was accorded a grand reception by the TTD chairman B R Naidu, addl EO Ch Venkaiah Chowdary and temple priests and was escorted him to the sanctum sanctorum.
Inside the sanctum sanctorum, priests explained to the Union minister the significance of the Lord and the jewels adorned to the presiding deity. The Union minister spent a few minutes praying before the presiding deity and later reached Ranganayakula Mandapam where he was accorded Vedasirvachanam by temple priests.
TTD chairman and addl EO offered the minister Lord's silk vastram, prasadams and laminated photo of Lord Venkateswara.
AP ministers Anagani Satya Prasad, T G Bharat, TTD board members Dr Panabaka Lakshmi, Janga Krishnamurthy, M Santharam, Naresh Kumar, G Bhanuprakash Reddy, temple DyEO Lokanadham, reception officials Bhaskar, Satre Naik and others were present.
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News18
an hour ago
- News18
US global trade partners react to Trumps new tariffs
Agency: Last Updated: Washington, Aug 1 (AP) US trade partners reacted Friday to President Donald Trump's executive order that would introduce new tariffs on many of them in seven days, as the global economy and alliances face a fresh test from the president's trade agenda. Trump's order issued Thursday night came after a flurry of tariff-related activity in recent days as the White House announced agreements with various nations and blocs ahead of Trump's self-imposed Aug 1 deadline. Trump also said Thursday he would extend trade negotiations with Mexico for 90 days. But the vast majority of nations are continuing to face uncertainty ahead of the coming deadline. While a handful of trade deals have trickled in, many details remain hazy, with businesses and manufacturers around the world bracing for heightened operating costs and potential price hikes. Meanwhile, Trump's overhaul of US trade policy hasn't gone unchallenged. Appellate court judges have expressed broad scepticism around the president's legal rationale for his most expansive round of tariffs. Switzerland hit with 39% tariff and will try to negotiate The land of luxury watches, pharmaceuticals and secretive financial services was reeling Friday, Switzerland's National Day, upon learning it had been slapped with a 39% tariff, although Trump had proposed a 31% rate in April. The Swiss government said officials will continue to seek a negotiated solution. 'The Federal Council notes with great regret that, despite the progress made in bilateral talks and Switzerland's very constructive stance from the outset, the US intends to impose unilateral additional tariffs on imports from Switzerland," the government said in a post on X. Trump orders a 35% tariff for goods from Canada, citing a lack of cooperation on illicit drugs Trump has raised the tariff rate on US imports from Canada to 35% from 25%, effective Friday. The announcement from the White House late Thursday said Canada had failed 'to do more to arrest, seize, detain, or otherwise intercept drug trafficking organisations, other drug or human traffickers, criminals at large, and illicit drugs". Trump earlier had threatened to impose the higher tariff on Canada if no deal was reached by Friday, his deadline for reaching trade agreements with dozens of countries. Canada was not included in Trump's updated list of tariff rates on other countries announced late Thursday. Those import duties are due to take effect on Aug 7. Malaysia hails 'significant achievement' in 19% tariff rate Malaysia's Trade Ministry said Friday that the US tariff reduction from 25% to 19% was a 'significant achievement" as the deal was struck without compromising key national interests. 'The 19% rate roughly tracks the rate of other countries in the Southeast Asian region," the ministry said in a statement. 'Most importantly, Malaysia had stood firm on various red line' items, and the 19% tariff rate was achieved without compromising the nation's sovereign right to implement key policies to support the nation's socio-economic stability and growth." The ministry said that Malaysia's economy remains resilient despite global headwinds, citing strong domestic demand and ongoing structural reforms. The statement didn't give further details but officials previously said non-tariff barriers such as halal certification, which affects US beef and poultry exports, along with digital trade and government procurement were sticky points. It's unclear what concessions Malaysia made. Cambodia will impose zero tariffs on all American goods Cambodia's Deputy Prime Minister Sun Chanthol, who led his nation's trade talks with the US, thanked Trump for setting the tariff rate on Cambodian goods at 19% and said his country will impose zero tariffs on all American goods. When Washington originally posted its list of notional 'reciprocal" tariffs, the rate for goods from Cambodia was 49%, one of the highest in the world. It had estimated that Cambodian tariffs on US imports averaged 97%. Sun Chanthol also said Cambodia would purchase 10 passenger aircraft from Boeing in a deal they hoped to sign later this month. Several other nations had already announced similar aircraft purchase deals as part of their trade packages. Trump had threatened to not conclude a deal with reduced tariffs if Cambodia and Thailand did not stop a recent armed conflict over border territory. The two nations agreed on a ceasefire beginning Tuesday that appears to be holding. Cambodia publicly celebrated Trump's peace initiative, suggesting he deserved a Nobel Prize for his intervention. Sun Chanthol said Friday that Cambodia would nominate him for the honour. Australia's 10% tariff rate is vindication of country's 'cool and calm negotiations,' trade minister says Australian Trade Minister Don Farrell says gaining the minimum US tariff on exports including beef, lamb, wine and wheat gave Australia a competitive advantage over some competitors. Farrell told reporters Australia did not introduce tariffs on US goods at any point, and added, 'I haven't seen any case or any example where the retaliatory imposition of tariffs has resulted in a country being in a better position." Farrell argues that no US tariffs can be justified because Australia imposes no tariffs on its bilateral free trade partner. The United States has enjoyed a trade surplus with Australia for decades. Australian Prime Minister Anthony Albanese has been criticised for failing to secure a face-to-face meeting with Trump to discuss trade. Japan welcomes Trump's signing of the executive order as an ease in uncertainty Japanese Chief Cabinet Secretary Yoshimasa Hayashi welcomed Trump's signing of the executive order setting Japan's new reciprocal tariffs as a step that would reduce uncertainty of the US trade policy and its negative impact on the global economy, including that of Japan. Hayashi, however, said Japan still needs to closely examine the measures and continue urging prompt implementation by the US government to carry out the agreement, including reduction of tariffs on automobiles and auto parts. Hayashi acknowledged that Japan's new tariff rate of 15% is a 'major reduction" from the initially imposed 25%, but his government will continue to watch and mitigate its impact on Japanese exports, including by providing financial assistance for small and medium-sized businesses. New Zealand looks to lobby for lower tariff rates New Zealand officials said they would lobby the administration for a change to the 15% tariff announced for the country's exporters to the US. It's an increase from the original 10% baseline announced for New Zealand in April. 'We don't think this is a good thing. We don't think it's warranted," Trade Minister Todd McClay told Radio New Zealand Friday. He said New Zealand appeared to have been targeted for a larger levy because the country records a trade deficit with the US but that the gap of about half a billion dollars each year was 'not significant or meaningful". Neighbouring Australia dodged an increase to remain at 10%, but it records a trade surplus with the US, McClay added. The United States in January overtook Australia to become New Zealand's second-largest export partner, behind China. New Zealand exports are largely made up of meat, dairy, wine and agricultural machinery. Taiwan president says final tariff negotiations with US yet to come Taiwan President Lai Ching-te said Taiwan had yet to engage in final negotiations with the US owing to scheduling difficulties and that he was hopeful the final tariff rate would be reduced even further after a final round of talks. The Trump administration hit Taiwan with 32% tariffs, and lowered it to 20% on Thursday. Taiwan was notified on Thursday by the administration of the lower rate. 'Twenty per cent from the beginning has not been our goal. We hope that in further negotiations we will get a more beneficial and more reasonable tax rate," he told reporters in Taipei on Friday. Lai also linked trade talks to security issues, as the US is Taiwan's largest ally even though it does not formally recognise the island. 'We want to strengthen US Taiwan cooperation in national security, tech, and multiple areas," he said Friday. The US is Taiwan's most important export market and strategic ally, Lai said in an earlier statement Friday morning. Cambodia prime minister thanks Trump for dropping tariff rate Cambodia Prime Minister Hun Manet expressed his thanks to Trump for the dropping of tariffs from 36% to 19% and he called the reduction 'good news" for Cambodia. Posted on his social media platform, Hun Manet said Trump had not only helped broker a ceasefire between Cambodia and Thailand forces after nearly a weeklong clash but also helped Cambodia's economy by lowering tariffs. 'This is good news for the people and economy of Cambodia to continue developing the country," Hun Manet said. Thailand successfully negotiates lower tariff rates Thailand's government spokesperson Jirayu Houngsub said Thailand says the US agreed to reduce the tariffs rate from 36% to 19%, a rate similar to those imposed on many other Southeast Asian countries such as Vietnam and the Philippines. top videos View all 'It's one of the major successes of Team Thailand in a win-win approach, to secure the country's export base and economic security in a long run," he said in a statement. He didn't immediately say what was the latest offer Thailand made to the US. The agreement came days after a ceasefire between Thailand and Cambodia to halt the nearly weeklong clashes that killed at least 41 people. It was brokered with US pressure as Trump said he would not move forward with trade agreements if the conflict continued. (AP) SCY SCY (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments First Published: August 01, 2025, 13:00 IST News agency-feeds US global trade partners react to Trumps new tariffs 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.
News18
an hour ago
- News18
Economy likely created 115,000 jobs in July as labour market loses momentum
Washington, Aug 1 (AP) The American job market is deteriorating — ever so slowly. It's not showing up as widespread layoffs. The unemployment rate is still low. It's subtler than that: New college graduates are struggling to break into the job market. The unemployment rate for college graduates 22 to 27 years old, reached 5.8 per cent in March, the highest, excluding the pandemic, since 2012, and far above the nationwide unemployment rate. Many Americans are staying in their jobs, unwilling to start the job hunt, because they believe this is as good as it gets, and there is growing evidence that they're right: Few industries are actually hiring aggressively. The current situation is a sharp reversal from the hiring boom of just three years ago when desperate employers were handing out signing bonuses and introducing perks such as Fridays off, fertility benefits and even pet insurance to recruit and keep workers. When the Labor Department puts out its July employment report Friday, it's expected to show that companies, government agencies and nonprofits collectively added 115,000 jobs last month, according to a survey of forecasters by the data firm FactSet. That is not a bad number but its worse than last year, and even last month, when employers added 147,000 jobs. So far this year, employers have added an average 130,000 jobs a month, down 23 per cent from last year's hiring and a whopping 68 per cent below the 2021-2023 average when the economy was bounding back from COVID-19 lockdowns. Weighing on the job market are the lingering effects of higher interest rates that were used by the Federal Reserve to fight inflation; President Donald Trump's massive import taxes and the costs and uncertainty they are imposing on businesses; and an anticipated drop in foreign workers as the president's massive deportation plans move forward. 'The labour market is poised for a summer slowdown as businesses put hiring plans on hold but refrain from broad-based layoffs," Gregory Daco, chief economist at EY-Parthenon wrote in a commentary this week. 'We see job growth slowing well below trend in the coming months." Still, most American workers enjoy an unusual level of job security. The unemployment rate is low at 4.1 per cent. The number of Americans applying for unemployment benefits — a proxy for layoffs — remains at healthy levels. But Adam Schickling, senior economist at Vanguard, cautions that 'a low unemployment rate and a muted pace of layoffs mask underlying weakness." In a commentary Tuesday, Schickling wrote that the health of the job market 'can be a matter of individual perspective…If you're a registered nurse, you may believe the job market's health to be excellent. The unemployment rate for experienced health care practitioners is currently below 2 per cent. If you're young and just entering the labour force or you're older and seeking to reenter it, prospects may seem bleak." The rate of people quitting their jobs — a sign they're confident they can land something better — has fallen from the record heights of 2021 and 2022 and is now below where it stood before the pandemic. For one thing, hiring has become concentrated in a handful of industries. So far this year, for example, private US employers have added 644,000 jobs. Of those, nearly 405,000 — or 63 per cent — were in just one of the Labor Department's industry categories: healthcare and social assistance, which spans everything from hospitals to daycare centres. As hiring has cooled over the past couple of years it's become harder for young people or those re-entering the workforce to find jobs, leading to longer job searches or spells of unemployment. The Labor Department said the number of discouraged workers, who believe no jobs are available for them, rose by 256,000 in June to 637,000. 'Historically, a decline in hiring has been accompanied by a swift rise in layoffs, a one-two punch that drives up the unemployment rate," Schickling wrote in a commentary. 'Today's labour market is defying that pattern." One reason is that manufacturing companies, which tend to pull the trigger on layoffs quickly when economic conditions weaken, account for an ever-smaller share of American jobs. 'So there is simply less headcount to cut," he said. The bottom line: 'Firms are pulling back on hiring without shedding existing workers in significant numbers," Schickling said. 'The result is a labour market that is softening gradually, not collapsing." (AP) GRS GRS (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI) view comments First Published: August 01, 2025, 13:00 IST News agency-feeds Economy likely created 115,000 jobs in July as labour market loses momentum 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.
Time of India
an hour ago
- Time of India
EAM Jaishankar lauds Cabinet decisions to boost railways
Advt Significant decisions undertaken by the Union Cabinet today: ➡️ Four Railway Multitracking projects approved covering 13 districts of Maharashtra, Madhya Pradesh, West Bengal, Bihar, Odisha, and Jharkhand. A step - forward in enhancing regional connectivity and economic… — Dr. S. Jaishankar (@DrSJaishankar) July 31, 2025 Advt External Affairs Minister S Jaishankar on Thursday praised the Union government's latest Cabinet decisions, calling them "significant" steps to strengthen regional connectivity , improve agricultural productivity and support cooperative initiatives across the to the social media platform X, Jaishankar highlighted three major decisions approved by the Cabinet earlier in the his post, the minister noted that the Cabinet had approved four major railway multitracking projects covering 13 districts across Maharashtra, Madhya Pradesh, West Bengal, Bihar, Odisha and Jharkhand. He said the projects would enhance regional connectivity and promote economic growth through smoother movement of people, goods and also welcomed the decision to increase the financial outlay for the Pradhan Mantri Kisan Sampada Yojana The Cabinet has approved an additional amount of ₹1,920 crore, raising the total budget of the scheme to ₹6,520 crore. He said this move will help the nation's farmers by supporting food processing infrastructure , including food irradiation units and testing laboratories, while also helping to reduce post-harvest minister further praised the approval of a new Central Sector Scheme titled "Grant-in-aid to National Cooperative Development Corporation." With an outlay of ₹2,000 crore for the next four years, the scheme aims to support agriculture and food processing cooperatives, including those led by women and labour in the day, the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, cleared four railway projects aimed at decongesting the national rail the media after the cabinet meeting, Information and Broadcasting Minister AshwVaishnaw said that the projects include Itarsi - Nagpur fourth line; Aurangabad (Chhatrapati Sambhajinagar) - Parbhani Doubling; Aluabari Road- New Jalpaiguri third and fourth line; and Dangoaposi- Jaroli third and fourth who is also the Union Railways Minister, said the increased line capacity will significantly enhance mobility, resulting in improved operational efficiency and service reliability for Indian Railways . These multi-tracking proposals are poised to streamline operations and alleviate multitracking projects will also contribute to the government's climate goals by reducing emissions and fuel imports, as the railways continue to serve as a more environmentally friendly transport Union Cabinet also approved a total outlay of ₹6,520 crore, including an additional outlay of ₹1920 crore for the ongoing Central Sector Scheme "Pradhan Mantri Kisan Sampada Yojana" (PMKSY) during the 15th Finance Commission Cycle (FCC) (2021-22 to 2025-26).The approval includes ₹1000 crore to support the setting up of 50 Multi Product Food Irradiation Units under the component scheme-Integrated Cold Chain and Value Addition Infrastructure (ICCVAI), and 100 Food Testing Labs (FTLs) with NABL accreditation under the component scheme, Food Safety and Quality Assurance Infrastructure (FSQAI) of Pradhan Mantri Kisan Sampada Yojana (PMKSY), in alignment with the budget additional funding for PM Kisan Sampada Yojana and the cooperative development scheme are part of the broader strategy to strengthen rural infrastructure, improve farmers' income and support local industries, the government said in an official release.
