Indian Negotiators Extend US Stay as Trade Talks Gather Pace
India's trade team has extended its stay in Washington to iron out differences as the two sides look to clinch a deal before a July 9 deadline when higher US tariffs are set to kick in, people familiar with the matter said.
The in-person negotiations were initially supposed to run through June 27 but were extended by a day, raising hopes of an interim trade deal, said the people, who asked not to be identified as the discussions are private.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
25 minutes ago
- Yahoo
FedEx Corporation (FDX): Keep An Eye On Global Tensions, Warns Jim Cramer
FedEx Corporation (NYSE:FDX) is one of the . FedEx Corporation (NYSE:FDX) is one of the biggest freight and logistics companies in the world. Its shares are dependent on global and American economic performance. Year-to-date, FedEx Corporation (NYSE:FDX)'s shares have lost 16.5% on the back of a devastating 19% drop in the aftermath of the Liberation Day tariffs. Cramer's previous comments about the company have discussed how its business-to-business operations are failing to perform. However, despite this, the CNBC host prefers FedEx Corporation (NYSE:FDX) over its rival UPS. Cramer also likes the firm's CEO. His latest remarks urged viewers to keep an eye on President Trump's anger towards Spain and how it could affect global logistics companies like FedEx Corporation (NYSE:FDX): 'I wanna keep an eye on that, because I know that a company like FedEx, I mean cross border's really, really huge.' A driver unloading packages from a van for a time-critical delivery. Here's what Cramer said after FedEx Corporation (NYSE:FDX)'s latest earnings results: 'Third loser, freight transportation. Truckers can't seem to make their numbers. The railroad stocks can't get any momentum. FedEx showed you how hard this business is when they reported last night. Their business-to-business service has been stuck in neutral, even as the business-to-consumer side is okay, but FedEx hasn't been able to make the Street's numbers. I think we've got some opportunity here, though. FedEx has cut its capital expenditures and chopped its expenses. It's a coiled spring. I like coiled springs, but understand that it won't spring until we see how the tariffs shake out, because so much of the business involves import-export. Until then, spring stays coiled.' While we acknowledge the potential of FDX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
25 minutes ago
- Yahoo
Congressman Says 'Nobody Asked For The IRS To Be Americans' Tax Preparer,' Applauds Efforts To Shut Down The IRS Direct File Program
Rep. Jason Smith (R-MO) is celebrating the House-passed bill that would shut down the Internal Revenue Service Direct File program, a free federal tool that allows Americans to file taxes online without paying private companies. 'Nobody asked for the IRS to be Americans' tax preparer, filer, and auditor,' Smith posted on X on June 24. 'The House-passed One, Big, Beautiful Bill puts an end to the IRS Direct File Program.'Don't Miss: GoSun's breakthrough rooftop EV charger already has 2,000+ units reserved — become an investor in this $41.3M clean energy brand today. Invest early in CancerVax's breakthrough tech aiming to disrupt a $231B market. Back a bold new approach to cancer treatment with high-growth potential. Despite Smith's remarks, the Direct File program has received broad support from taxpayers and voters across the political spectrum. According to a Data for Progress poll conducted in April, 82% of likely voters said they support expanding Direct File to all Americans. That includes 80% of Republicans, 85% of Independents, and 81% of Democrats. The IRS launched Direct File using Inflation Reduction Act funds. It started as a small pilot in 12 states during the 2024 tax season and expanded to 25 states in 2025, serving 32 million eligible users. The tool was described as secure, simple, and always free. Kitty Richards, senior fellow at the Groundwork Collaborative, a progressive economic policy group, said Direct File was 'a crystal clear example of government efficiency at work. Taxpayers shouldn't have to pay exorbitant fees to predatory for-profit companies just to file their taxes.' According to Groundwork, IRS data and user surveys also backed the program's popularity. In 2024, 90% of surveyed users rated their experience as excellent or above average, and most reported filing in under an hour. By their estimates, Direct File saved taxpayers $5.6 million in fees during its first full rollout, and every dollar invested returned $160 in savings. Trending: This Jeff Bezos-backed startup will allow you to become a landlord in just 10 minutes, with minimum investments as low as $100. When news broke out in April that the Trump administration plans to discontinue Direct File for the 2026 tax season, Sen. Ron Wyden (D-OR) called Direct File a 'massive success' that removed unnecessary middlemen. He accused President Donald Trump and Treasury Secretary Scott Bessent of 'robbing regular American families to pay back lobbyists that spend millions to make tax filing more expensive and more difficult.' Staff working on the program were reportedly told weeks earlier that they would no longer be needed. The Department of Government Efficiency, once led by Tesla CEO (NASDAQ:TSLA) Elon Musk, reportedly played a role in weakening the IRS program. Musk posted in February that the Direct File development team had been 'deleted.' Meanwhile, the program critics like David Williams of the Taxpayers Protection Alliance argued that the IRS overstepped by building Direct File without explicit approval. 'The IRS created Direct File without congressional approval,' Williams wrote in April. 'In fact, the $15M from the Inflation Reduction Act was supposed to be for a study. Instead, the IRS built the software.' Still, many policy advocates and voters say the program filled a real need and made tax season less stressful. See Next: $100k in assets? Maximize your retirement and cut down on taxes: Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation. Warren Buffett once said, "If you don't find a way to make money while you sleep, you will work until you die." Here's how you can earn passive income with just $ Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? TESLA (TSLA): Free Stock Analysis Report This article Congressman Says 'Nobody Asked For The IRS To Be Americans' Tax Preparer,' Applauds Efforts To Shut Down The IRS Direct File Program originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
Yahoo
26 minutes ago
- Yahoo
Stock market today: Dow, S&P 500 and Nasdaq futures rise as stocks set to end June with a bang
US stock futures edged higher Sunday evening, setting up the major indexes for more records to end one of the most volatile first halves of a year in recent memory. Futures tied to the Dow Jones Industrial Average (YM=F) rose around 0.5%. Contracts on the S&P 500 (ES=F) gained 0.2%, and Nasdaq 100 (NQ=F) futures ticked up 0.3%. Several of Trump's economic agenda items are in focus this week. A July 9 deadline looms before the possible resumption of Trump's unilateral tariffs, which Trump on Sunday said he didn't think he'd "need to" extend. On the trade front, India has extended its Washington visit to finalize a deal. Administration officials last week confirmed a trade framework with China was in place, bolstering investor sentiment despite a late-Friday dip triggered by Trump's abrupt halt to talks with Canada, citing its digital tax policy. Meanwhile, market watchers are closely following Senate negotiations over Trump's proposed $4.5 trillion tax cut bill. The measure, which passed a procedural vote Saturday, could face a tough path in the House. The Congressional Budget Office estimates it would add $3.3 trillion to the deficit over a decade. For the market, June's gains have been substantial, fueled by optimism surrounding global trade and easing fears over tariffs. The S&P 500 (^GSPC) is up over 4%, the Nasdaq Composite (^IXIC) has surged over 5.5%, and the Dow (^DJI) has climbed 3.5%. On Friday, all three major indexes closed higher, with the S&P and Nasdaq reaching new record highs for the first time since February — the start of the year's tariff-fueled stock swings. All three major indexes are up at least 3% so far this year. Looking ahead, investors will monitor key Chinese PMI data due Monday to gauge how the ongoing trade war is affecting Asia's largest economy. Despite lingering uncertainties, the broader market remains upbeat heading into the new quarter and second half.
