Buffoon-in-Chief: Owaisi tears into Trump over tariffs, doesn't spare PM either
"India is an independent sovereign country. Not a vassal state that gives salami in the Emperor's court," said Owaisi.Criticising Trump for imposing high tariffs on India, Owaisi termed the measures a deliberate attack on India's sovereignty and economy."These measures are a clear and deliberate attack on our sovereignty and economic standing. I've raised the issue of rising hostile trade practices against India in Parliament for years," he further tweeted.In his tweet, Owaisi also mentioned the sectors that would be severely hit due to the high tariffs. He also said that the high tariffs would deter FDIs while damaging exports and jobs."These tariffs will hit Indian MSMEs, manufacturers, IT firms, service providers, and even our farmers. They'll deter FDI, damage exports, and hurt jobs," he said.He also criticised Prime Minister Narendra Modi for his silence on the tariff hikes by the US President."What's worse is our own @narendramodi's silence. Is this the '56-inch chest' we were promised? Or will we only see it if Trump raises tariffs to 56%?" he further wrote.Apart from the high tariffs, India will also have to pay additional penalties for buying crude oil from Russia, said the US President on Wednesday. After imposing high tariffs and penalties on India, US President Donald Trump, in a post on Truth Social, called both India and Russia "dead economies" and said that he "does not care" what India does with Russia.Taking a dig at the Kremlin, he declared that the US and Russia "do almost no business together" and warned that it should "stay that way".Meanwhile, Iran has come out in India's support and sharply criticised the US for imposing high tariffs on India. The Iranian Embassy in New Delhi said that the US is trying to dictate its will on independent nations and impede their growth and development.advertisement"The United States continues to weaponise the economy and use #sanctions as tools to dictate its will on independent nations such as Iran and India and impede their growth and development. These coercive discriminatory actions violate the principles of international law and national sovereignty, representing a modern form of economic imperialism," said the Iranian embassy in India in a tweet.Apart from imposing high tariffs, the US Department of State has also imposed sanctions on several Indian companies for importing substances such as methanol, toluene, and polyethylene between January 2024 and January 2025.Among the Indian companies named are Kanchan Polymers, Alchemical Solutions Pvt Ltd, Ramniklal S Gosalia and Company, Jupiter Dye Chem Pvt Ltd, Global Industrial Chemicals Ltd., and Persistent Petrochem Pvt. Ltd."These companies have collectively imported tens of millions of dollars' worth of Iranian-origin petrochemicals," the US State Department said, citing their role in transactions that "generate billions of dollars in illicit funds for Iran's destabilising activities".- EndsMust Watch
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
23 minutes ago
- Economic Times
Move over China: iPhones for America now mostly assembled in India, confirms Apple CEO Tim Cook
Getty Images Apple CEO Tim Cook Apple CEO Tim Cook confirmed on Thursday that the majority of iPhones sold in the United States in the past quarter were manufactured in India, signaling a major shift in the company's global supply chain, reported TOI. China, once Apple's dominant manufacturing hub, is now producing primarily for non-US to the TOI report, Cook told analysts after Apple's quarterly earnings call, 'There hasn't been a change to that, which is the vast majority of the iPhone sold in the US or the majority, I should say have a country of origin of India.'The Apple chief added that while India leads iPhone production for the US, Vietnam is the primary source for other Apple products such as MacBooks, iPads, and Apple he said, continues to manufacture most Apple products destined for other international markets. '...the products for other international countries, the vast majority of them are coming from China,' Cook said. This disclosure comes amid criticism from former US President Donald Trump, who earlier this year expressed dissatisfaction over Apple's shift toward Indian manufacturing. 'I had a little problem with Tim Cook... I said to him, my friend, I am treating you very good... but now I hear you are building all over India. I don't want you building in India,' Trump had remarked during his May visit to Doha. Smartphones and electronics, however, remain exempt from the new 25% US tariffs on Indian goods announced earlier this focus on India also extends to its domestic market. Cook said the company continues to see strong revenue growth in India, driven by iPhone sales. 'We saw an acceleration of growth around the world in the vast majority of markets we track... and we had June quarter revenue records in more than two dozen countries and regions, including the US, Canada, Latin America, Western Europe, the Middle East, India, and South Asia," TOI quoted him as saying. India is among Apple's fastest-growing markets, and the company plans to expand its retail footprint in the said iPhone sales grew in every region, with double-digit growth in emerging markets including India, Brazil, South Asia, and the Middle East. Addressing concerns around tariffs, Cook said, 'For the June quarter, we incurred approximately $800 million of tariff-related costs. For the September quarter... we estimate the impact to add about $1.1 billion to our costs.' However, he added that these numbers could vary depending on future tariff policy changes. (With inputs from TOI)
Deccan Herald
26 minutes ago
- Deccan Herald
US tariff more biased against Indian automotive, tyre industries as compared to Asian peers: Icra
With the US accounting for 27 per cent of India's auto component exports and 17 per cent of tyre exports, the tariff hike places Indian manufacturers at a disadvantage compared to Asian peers such as Japan, Vietnam, and Indonesia.
Hans India
26 minutes ago
- Hans India
Starlink Gets Green Light in India: Elon Musk's Satellite Internet Set to Launch Soon
Elon Musk's ambitious satellite internet venture, Starlink, is officially making its way to India, with the country's telecom ministry recently granting the company a key operating licence. The move is expected to transform internet access in India's far-flung and underserved areas, especially in rural regions where traditional connectivity options remain limited. The approval comes after years of anticipation and regulatory back-and-forth. Initially proposed in 2021, the project had faced delays over spectrum distribution and compliance requirements. Now, with the Unified Licence granted by the Department of Telecommunications, Starlink is poised to begin services, pending final spectrum allocation. "Frameworks for spectrum allocation and gateway establishment are ready, ensuring smooth rollout,' Union Telecom Minister Jyotiraditya Scindia confirmed, as reported by PTI. Starlink's entry does not intend to directly compete with existing telecom players like Jio, Airtel, and BSNL in urban markets. Instead, the service will serve as a complementary solution, particularly in areas where terrestrial networks fall short. Minister of State for Telecom, Pemmasani Chandra Sekhar, also confirmed the approval and highlighted the potential of low-Earth orbit (LEO) satellites to bolster India's digital infrastructure. To make the rollout practical, Starlink has reportedly partnered with Indian telecom giants such as Airtel and Jio for infrastructure sharing. This collaboration is expected to assist in distributing Starlink's hardware kits across the country. These kits, which include a satellite dish, Wi-Fi router, and mounting gear, are priced at approximately Rs 33,000. Once installed, users can expect to pay around Rs 3,000 per month for unlimited data. However, in a bid to attract early adopters, promotional plans may start at Rs 850 per month. The expected internet speeds will range between 25 Mbps and 220 Mbps, with an initial cap of two million users across India. Starlink's rollout adds momentum to an increasingly competitive space for satellite broadband in India. Other players such as Eutelsat OneWeb, backed by Bharti, and Jio's joint venture with SES of Luxembourg have also received approvals but await spectrum assignments before starting commercial operations. India's need for robust internet solutions is well-documented. As per the IAMAI-Kantar ICUBE Report 2023, more than 65% of the rural population still lacks reliable internet access. Satellite broadband is widely regarded as a game-changer in bridging this digital divide, especially in remote terrains and mountainous regions. Looking ahead, Starlink is also preparing to launch its next-generation satellites by 2026. These are expected to deliver over 1,000 Gbps capacity per satellite, significantly enhancing performance and potentially pushing internet speeds to ten times the current rates. This evolution could further strengthen the value proposition of Starlink in areas that remain beyond the reach of fiber and mobile broadband. With regulatory approvals now largely in place, all eyes are on spectrum allocation, the final piece of the puzzle. Once that's resolved, Starlink could begin reshaping India's internet landscape—just as Tesla redefined the electric vehicle industry.
