Newsweek Magazine May 30, 2025 Issue
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Newsweek
44 minutes ago
- Newsweek
India's New Deals Leave US to Catch Up
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. On a sweltering afternoon beside the turquoise waters of the Indian Ocean, Prime Minister Narendra Modi stood beside Maldivian President Mohamed Muizzu for the island nation's 60th birthday. It was not only ceremonial, however. Three agreements and four memorandums of understanding were signed with a country that had once been seen as inching into China's orbit. Days earlier and at a different place on the diplomatic scale, Modi had inked a new trade agreement with former colonial power Britian — calling it "a blueprint for our shared prosperity." But as the world's most populous nation forges a new global diplomatic playbook, one country appears conspicuously left out and with a trade deal still hanging in the balance: the United States. "We wish to engage with the world, including the West, on equal terms," Sanjeev Sanyal, a key member of Indian Prime Minister Modi's Economic Advisory Council told Newsweek. "We understand that Western countries have their interests, but we also have ours. So, we will speak up for our interests. This does not mean that we won't be willing to engage or make reasonable trade-offs." India's Prime Minister Narendra Modi (2L) inspects a guard of honour during his ceremonial reception at the Republic Square in Male on July 25, 2025. India's Prime Minister Narendra Modi (2L) inspects a guard of honour during his ceremonial reception at the Republic Square in Male on July 25, 2025. Photo by Mohamed Afrah / AFP A U.S. State Department spokesperson described India as "a strategic partner with whom we engage in full and frank dialogue, including on its relationship with Russia and problematic actions by China." "We deeply value our relationships with fellow Indo-Pacific nations like India and Maldives. We will continue to work with our partners to advance American interests by ensuring the region remains free and open, and continues to become more connected, prosperous, secure, and resilient," the spokesperson said. White House In a sign of India's importance for U.S. President Donald Trump's administration, he was an early visitor to the White House in the second Trump term. But the optics of India's recent diplomatic activity are hard to ignore. India's diplomatic calendar this month reads like a G20 cheat sheet: France, UAE, Egypt, Iran, Russia — now Britain and the Maldives. And in a move that would have been unthinkable even a year ago, India just resumed offering tourist visas for Chinese citizens, ending a five-year freeze following deadly clashes in a disputed border area in 2020. "China and India should adhere to the direction of good neighborliness and friendship," Chinese Foreign Minister Wang Yi said during a July 15 meeting with Indian counterpart S. Jaishankar. "China is willing to work with India to promote sustained, healthy, and steady development," he added. These moves reflect India's deepening role as a global swing power, geopolitical analysts said. "Power—not justice, not fairness, not laws, rules, or ethics—but raw, unadulterated, crude and unhinged power has become the key determinant of international relations," Gautam Chikermane, Vice President at Observer Research Foundation told Newsweek. "Threats have become the new vocabulary, whims are the new rules. Every country must have Plan B and Plan C in place. India already does." India's Prime Minister Narendra Modi gestures as he speaks during a joint press conference with Britain's Prime Minister Keir Starmer on July 24, 2025. India's Prime Minister Narendra Modi gestures as he speaks during a joint press conference with Britain's Prime Minister Keir Starmer on July 24, 2025. Photo by KIN CHEUNG/POOL/AFP via Getty Images Landmark Deal with Britain India's landmark deal with the UK is seen as much about geopolitics as about goods and services. It wasn't rushed. Negotiations began in May 2022, took three years, and involved tough domestic balancing acts—protecting farmers, small businesses, and service sectors on both sides. "It is not easy to sign a trade agreement like this," said one senior Indian trade official involved in the deal. "But both sides were patient. We weren't desperate, and we didn't take ultimatums." "This agreement is more than just trade," UK opposition Conservative MP Bob Blackman told Newsweek. "It reflects a shift in how both nations perceive power and partnership. No longer limited to Commonwealth nostalgia, the UK–India relationship is maturing—grounded in democratic resilience and pragmatic alignment." In contrast, there is still no trade deal with the United States despite some optimism voiced by President Trump and India. "The United States is very close to a trade deal with India... I think we'll get it done soon," Trump said at a recent press briefing. Yet, almost in the same breath, he reiterated his frustration with India's trade stance, immigration policies, and neutrality on Russia. "The era of building factories in China and hiring workers in India is over," Trump added—comments that have left New Delhi watching with a wary eye. Trump has also threatened secondary tariffs of up to 100% on countries importing Russian oil—a clear warning to India, which continues buying discounted energy from Moscow in what it sees as a vital economic hedge, not a geopolitical endorsement. "India's successful trade deal with the UK demonstrates that it has global trading options and that it is not desperate enough for a trade deal with the United States to open up its agricultural sector," Lisa Curtis, director at the Center for a New American Security told Newsweek. "The Trump administration would be wise to make concessions for India in the interest of the larger strategic partnership." "One of the greatest foreign policy accomplishments of the first Trump administration was elevating the U.S.–India strategic partnership," Curtis continued. "It would be a mistake for the second Trump administration to sacrifice those gains."
Newsweek
9 hours ago
- Newsweek
Donald Trump Defends 'Weak Dollar,' Economic Analysts Respond
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. President Donald Trump defended the weakening U.S. dollar during a conversation with reporters Friday. "Well, you know, I'm a person that likes a strong dollar, but a weak dollar makes you a hell of a lot more money," Trump said in a media Q&A. Newsweek spoke with financial experts about the matter. Why It Matters While the U.S. dollar gained ground Friday, it still set for a weekly drop amid ongoing tariff negotiations and The Fed's bank meeting scheduled for next week. This week marks the greatest drop in a month, with the dollar index standing at 97.448. That shows a 1 percent weekly decline, while the euro stayed at $1.1754, close to its four-year high of $1.183. U.S. President Donald Trump speaks to the media as he departs the White House on July 15, 2025 in Washington, DC. U.S. President Donald Trump speaks to the media as he departs the White House on July 15, 2025 in Washington, To Know During Trump's conversation with reporters, he defended the declining value of the U.S. dollar, arguing that there were actually some benefits to the currency losing value. "When we have a strong dollar, one thing happens," Trump said. "It sounds good, but you don't do any tourism.... You can't sell anything. It is good for inflation. That's about it." Trump went on to say the U.S. has wiped out inflation. "I will never say I like a low currency, but you remember the battles I China, with Japan... They always wanted a weak currency. They're trying to get a weak currency now." However, economists have warned that the weakening U.S. dollar is likely to spark a price hike on everyday items while also forcing U.S. travelers to pay more when abroad. "A weaker dollar does have certain benefits—particularly for multinational corporations and U.S. exporters. It makes American goods more competitive abroad and can boost earnings when foreign profits are converted back into dollars," Kevin Thompson, the CEO of 9i Capital Group and the host of the 9innings podcast, told Newsweek. "But let's be clear: the U.S. is a consumer-driven, import-heavy economy. A weaker dollar makes imports more expensive, which can drive inflation. So while there are benefits on the corporate side, it also hurts households by increasing the cost of everyday goods." Thompson also said Trump's comments on inflation were incorrect, as consumers are still facing price increases in many areas. "He's dead wrong," Thompson said. "We're still seeing elevated prices in areas like energy, particularly piped gas, and in household essentials. Food costs continue to climb, especially meat, and many families are seeing higher utility bills. Disinflation doesn't mean prices are falling—it just means they're rising more slowly, but they're still rising." In June, the consumer price index for all urban consumers climbed 0.3 percent, seasonally adjusted. Meanwhile, food was up 3 percent year-over-year, not seasonally adjusted. So far this year, the dollar has dropped more than 10 percent in value relative to foreign currencies from many of America's trading partners. Thompson said the U.S. dollar's weakness stems from a mix of concerns over U.S. fiscal policy. "Continued deficit spending and ballooning debt levels have led to questions about long-term economic stability. Since the dollar is the world's reserve currency, its strength is tied to global trust in our economy," Thompson said. Trump's ongoing tariff negotiations have also signaled alarm amongst some economists, who say that the heightened tariffs could be passed along by importers via higher prices. What People Are Saying Peter Schiff, chief economist and global strategist at wrote on X: "Trump said he wants a strong dollar but he also wants a weaker dollar. He says a strong dollar makes you feel better, but a weak dollar makes you richer. He also claimed he crushed inflation. His policies are highly inflationary. Trump's weak dollar dream will be a nightmare." Alex Beene, a financial literacy instructor for the University of Tennessee at Martin, told Newsweek: "A weaker dollar can have some benefits, namely in the form of cheaper exports which can boost demand for our goods and services internationally. However, the cons can easily outweigh the pros. A weaker dollar equates to higher prices on many items for American consumers, particularly on imports." Kevin Thompson, the CEO of 9i Capital Group and the host of the 9innings podcast, told Newsweek: "Despite no rate cuts yet this year, the dollar has weakened due to shifting interest rate expectations and a broader macroeconomic backdrop. Historically, higher U.S. interest rates attract capital, strengthening the dollar—but even with relatively high rates, the dollar is off to one of its worst starts in decades." What Happens Next For everyday Americans, the declining U.S. dollar could continue to impact their wallets after years of inflationary pressures, experts say. "Inflationary pressures have already left a sizable dent in many Americans' wallets in the years since the pandemic. Further weakening of the dollar could just prolong this effect," Beene said.
Newsweek
10 hours ago
- Newsweek
Burger King Announces Major Menu Change
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Burger King has rolled out a suite of new beverage options, the company confirmed to Newsweek on Friday. As part of the new menu lineup, the fast-food giant introduced four Iced Coffee Cold Foam options and two Real Juice Lemonades. Why It Matters The product launches highlight Burger King's ongoing efforts to diversify its drink menu and respond more directly to consumer preferences. The expansion comes as the fast-food market sees increased competition over beverage offerings, with chains like Starbucks and McDonald's driving innovations in coffee and refreshments. A Burger King in Ancenis, France, is pictured on April 29. A Burger King in Ancenis, France, is pictured on April 29. LOIC VENANCE/AFP via Getty Images What To Know Burger King is now selling four Iced Coffee Cold Foam options—Vanilla, Mocha, Plain and Black—with the plain variety limited to select locations. The chain has also launched two Real Juice Lemonades: Strawberry Lemonade, made with real fruit juice, and Mango Peach Lemonade, a blend of lemonade with peach and mango juices. Prices for these new beverages are set at a recommended $2.49 for a small, $2.79 for a medium and $3.29 for a large, but actual prices may vary by location. These drinks have become available nationwide, according to a Burger King spokesperson. "The new Strawberry Lemonade is made with real fruit juice for a delicious and refreshing beverage and the Mango Peach Lemonade is a vibrant blend of lemonade with real peach and mango juice," the spokesperson told Newsweek. The drink menu additions follow Burger King's recent debut of the BBQ Brisket Whopper, described as the first menu item created through its "Whopper by You" platform. The new program allows customers nationwide to submit their ideas for new Whopper sandwiches on the chain's official website. The BBQ Brisket Whopper includes slow-cooked brisket, crispy onions, American cheese, sweet barbecue sauce, lettuce, tomato, creamy mayo and a flame-grilled quarter-pound patty, and will also be offered as a Whopper Jr. The new menu item will be available for a limited time at participating U.S. locations. What People Are Saying Kevin Thompson, CEO of 9i Capital Group and host of the 9innings podcast, told Newsweek: "Burger King launched these new drinks to gain a portion of the market share that has exploded over the past few years. The want to target those incremental Starbucks, Dutch Brothers and McDonald's beverage drinkers." Alex Beene, financial literacy instructor for the University of Tennessee at Martin, told Newsweek: "Burger King is the latest to offer new menu options in the form of coffee cold foams and lemonades in the hopes of luring back customers. Over the last two years, as inflationary pressures have weighed heavily on consumers, many have favored staying at home and cooking over dining out, and the result has been declining revenues and profits for many fast food chains." What Happens Next The company has launched these new menu items as part of a broader strategy to drive customer engagement and refresh its core offerings in the U.S. marketplace. "Like other restaurants, Burger King is introducing new items in an attempt to draw in customers who haven't frequented their locations as much as prices increased," Beene added.
