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Time of India
16 minutes ago
- Time of India
Rebels in Republican; Trump on edge- When will US president sign his ‘Big Beautiful Bill'?
Donald Trump's signature tax-and-spending package, 'Big Beautiful Bill', was thrown into limbo as Republican leaders in Congress scrambled to rein in party rebels threatening to derail the centerpiece of the president's domestic agenda. Trump is seeking final House approval for the bill after its razor-thin passage in the Senate, but divisions within his own party have left the legislation teetering. Fiscal hawks bristle at ballooning deficits; moderates fear historic cuts to Medicaid and other safety net programs could cost them re-election. Trump vented his frustration on Truth Social saying, "Largest Tax Cuts in History and a Booming Economy vs. Biggest Tax Increase in History, and a Failed Economy. What are the Republicans waiting for??? What are you trying to prove??? MAGA IS NOT HAPPY, AND IT'S COSTING YOU VOTES!!!" House Speaker Mike Johnson, caught between these factions, kept procedural votes open for hours, including one that set a record as the longest in House history, while his team huddled behind closed doors with holdouts. "We're going to get there tonight. We're working on it and very, very positive about our progress," Politico quoted Johnson saying. Meanwhile, Trump turned up the pressure saying, "FOR REPUBLICANS, THIS SHOULD BE AN EASY YES VOTE. RIDICULOUS!!!" Republican leaders had hoped to quickly push Trump's massive tax-and-spending bill through the House on Wednesday, aiming for a smooth approval well ahead of the president's self-imposed July 4 deadline. But their plans hit turbulence as the 887-page legislation, already tweaked in the Senate to appease hardliners, faced resistance from within. One conservative balked at the prospect of adding to the $37 trillion national debt, while two moderates worried about nearly $1 trillion in healthcare cuts that could leave 17 million Americans without insurance and shutter rural hospitals. The sprawling $4.5 trillion package delivers on several of Trump's campaign promises, increased military spending, mass deportation funding, and extended tax cuts from his first term. But it also adds $3.4 trillion to the deficit over a decade and slashes nearly $1 trillion from health care programs, raising alarms about millions losing insurance and rural hospitals shuttering. With House Democrats unified in opposition and eyeing the bill as a potent campaign weapon for 2026, the pressure is squarely on Trump and Republican leaders to unite their fractured caucus and deliver the legislative victory the president demands.


New Indian Express
23 minutes ago
- New Indian Express
South Korea's leader says trade deal with US remains unclear ahead of Trump's deadline
SEOUL: South Korean President Lee Jae Myung said that it remained unclear whether Seoul and Washington could conclude their tariff negotiations by the deadline set by US President Donald Trump for next week, noting Thursday that both nations were still working to clarify their positions and identify areas of agreement. Speaking at his first news conference since taking office last month, Lee also reiterated his intentions to improve badly frayed ties with North Korea, though he acknowledged that mutual distrust between the Koreas is too deep to heal anytime soon. Trump's tariff hikes and other 'America First' policies are major challenges for Lee's month-old government, as are North Korea's expanding nuclear program and domestic economic woes. Lee, a liberal, came to power after winning a snap presidential election caused by the ouster of conservative President Yoon Suk Yeol over his ill-fated imposition of martial law in December. Lee said the tariff negotiations with the US have been 'clearly not easy' and stressed that the countries must reach mutually beneficial outcomes. 'It's difficult to say with certainty whether we will be able to reach a conclusion by July 8. We are now doing our best,' Lee said. 'What we need is a truly reciprocal outcome that benefits both sides and works for everyone, but so far, both sides are still trying to define exactly what they want.' Trump's 90-day pause in global reciprocal tariffs is set to expire on July 9, potentially exposing South Korean products to 25% tax rates. Washington has separately been seeking higher duties on specific products such as automobiles and semiconductors, which are key exports for South Korea's trade-dependent economy. There are growing concerns in Seoul that Trump may also demand a broader deal requiring South Korea to pay significantly more for the 28,000 US troops stationed on the peninsula to deter North Korean threats. Lee has consistently urged patience on tariffs, arguing that rushing to secure an early deal would not serve the national interest. His trade minister, Yeo Han-koo, was reportedly arranging a visit to Washington for possible meetings with US Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick. On North Korea, Lee said he would seek to restore long-dormant talks with Pyongyang, whose expanding military cooperation with Russia pose major security concerns to their neighbors. 'I think we should improve relations with North Korea based on a reliable coordination and consultation between South Korea and the US,' Lee said. 'But I expect that won't be easy as mutual antagonism and distrust are too serious.' Lee previously faced criticism that he was tilting toward North Korea and China and away from the US and Japan. But since the election, Lee has repeatedly vowed pragmatic diplomacy, saying he would bolster the alliance with the US while also seeking to repair ties with North Korea, China and Russia. Some critics say it's too difficult to satisfy all parties. Lee's government has made proactive efforts to build trust with North Korea, halting frontline anti-Pyongyang propaganda broadcasts and taking steps to ban activists from flying balloons carrying propaganda leaflets across the border. North Korea hasn't publicly responded to the conciliatory gestures by Trump and Lee, but officials said North Korean propaganda broadcasts have since been unheard in South Korean border towns. Lee said he's been talking with his presidential security and intelligence officials about how to revive talks with North Korea but didn't elaborate. Trump has also expressed intent to resume diplomacy with North Korean leader Kim Jong Un. Lee has said he would support Trump's push. North Korea has refused talks with the US and South Korea since earlier Trump-Kim nuclear talks collapsed in 2019. North Korea is now pursuing relations with Russia, supplying troops and weapons to support its war against Ukraine in return for economic and military assistance.


NDTV
30 minutes ago
- NDTV
Mini Trade Deal With US In 48 Hours, India Pushing For Concessions: Sources
Washington: An interim trade deal between India and the United States is likely to be finalised in the next 48 hours, with negotiations underway in Washington, sources told NDTV on Thursday. India's trade team extended its stay in Washington last week to iron out key differences as the two sides look to clinch a mini deal before the July 9 deadline when the pause on US tariffs is set to be lifted. Both sides have dug in their heels over a number of issues, including Washington's demand that India open its market to genetically modified crops - a long-standing red line for New Delhi due to risks to its farmers. The US is also pressing for greater market access to the Indian agricultural and dairy sectors. However, sources told NDTV Profit that both these sectors are likely to be kept out of the purview of the proposed deal due to concerns over rural livelihoods and food safety. India, on the other hand, is reportedly pushing for meaningful tariff concessions on its labour-intensive exports like footwear, garments, and leather, which are major job creators. New Delhi is unwilling to sign a deal that doesn't address both sectoral access and reciprocal tariffs on its exports, with negotiators maintaining that without broader tariff cuts, especially on high-employment goods, the goal of doubling bilateral trade to $500 billion by 2030 is unrealistic. "Our estimate is that once the Interim India-US Trade Deal is finalised, Indian exports to the US will double within the next three years," Federation of Indian Export Organisations (FIEO) CEO Ajay Sahai told NDTV. Per the NDTV profit report, the focus of the deal has narrowed to reciprocal tariff reductions or removals, as officials have called on both nations to prioritise lowering overall duty barriers. On Tuesday, US President Donald Trump reaffirmed that India-US will soon strike a trade deal with "much less tariffs", allowing both countries to compete. "I think we are going to have a deal with India. And that is going to be a different kind of a deal. It is going to be a deal where we are able to go in and compete. Right now, India does not accept anybody in. I think India is going to do that, and if they do that, we are going to have a deal for much less tariffs," Trump said. India-US Trade Deal India and the US have been negotiating over a Bilateral Trade Agreement (BTA) before the return of suspended 26 per cent reciprocal tariffs after the critical pause is lifted. These punitive measures, imposed initially during the Trump administration on April 2, were temporarily suspended for 90 days but will automatically resume if no agreement is reached. "The failure of these trade discussions would trigger the immediate reimplementation of the 26 per cent tariff structure," a senior official told news agency ANI. However, some sources said that even if a deal is not finalised, India won't suffer much because a 26 per cent tariff is low compared to our competitors. India's hardened position reflects the politically sensitive nature of its agricultural sector. The country's farming landscape is dominated by small-scale subsistence farmers with limited land holdings, making agricultural concessions particularly challenging from both economic and political perspectives. India has also never opened its dairy sector to foreign competition in any previous free trade agreement -- a precedent it appears reluctant to break even under US pressure.