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South China Morning Post
38 minutes ago
- South China Morning Post
Trump threatens India with ‘substantially' higher tariffs over Russian oil amid Ukraine war
US President Donald Trump said on Monday that he would substantially raise tariffs on India over its purchases of Russian oil. 'India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits. They don't care how many people in Ukraine are being killed by the Russian War Machine,' Trump said in a social media post. 'Because of this, I will be substantially raising the Tariff paid by India to the USA.' He did not elaborate on what the tariff would be. India's trade ministry did not immediately respond to a request for comment. Last week, Trump said he would impose a 25 per cent tariff on goods imported from India and added that the world's fifth-largest economy would also face an unspecified penalty but gave no details.
South China Morning Post
3 hours ago
- South China Morning Post
Ex-Israeli security officials urge Trump to pressure Netanyahu to end Gaza war
Hundreds of retired Israeli security officials, including former heads of intelligence agencies, have urged US President Donald Trump to pressure their own government to end the war in Gaza. 'It is our professional judgment that Hamas no longer poses a strategic threat to Israel,' the former officials wrote in an open letter shared with the media on Monday. 'At first this war was a just war, a defensive war, but when we achieved all military objectives, this war ceased to be a just war,' said Ami Ayalon, former director of the Shin Bet security service. The war, nearing its 23rd month, 'is leading the State of Israel to lose its security and identity,' Ayalon warned in a video released to accompany the letter. Signed by 550 people, including former chiefs of Shin Bet and the Mossad spy agency, the letter called on Trump to 'steer' Prime Minister Benjamin Netanyahu towards a ceasefire. President Donald Trump (right) listens as Israel's Prime Minister Benjamin Netanyahu speaks in the Oval Office in April. Photo: AP Israel launched its military operation in the Gaza Strip in response to the deadly October 7, 2023 attack by the Palestinian militant group Hamas.
South China Morning Post
5 hours ago
- South China Morning Post
Trump fundraising haul hits US$274 million ahead of midterms, giving Republicans huge edge
Billionaires Elon Musk and Jeff Yass, along with crypto industry donors, helped US President Donald Trump raise US$236 million for his political operation in the first six months of 2025 – an unprecedented sum for a second term president. The latest filings to the Federal Election Commission (FEC) show that the fundraising haul, which includes donations to three leadership political action committees, joint fundraising committees and an allied super PAC, leaves Trump with US$274 million cash on hand. It's a massive war chest he can deploy on behalf of Republican House and Senate candidates in the midterm elections, when the incumbent president's party generally loses seats, and it highlights the continued grip Trump retains on the Republican Party. Trump's super PAC, Maga Inc., provided the biggest draw for campaign cash, taking in US$177 million. The president has held four US$1 million-per-plate dinners for Maga Inc. donors as well as a US$1.5 million-per-plate event for entrepreneurs and investors in cryptocurrency and artificial intelligence , two emerging technologies that have been a focus for his administration. While the FEC disclosures don't indicate whether a donor attended an event or simply wrote a cheque, they do reveal support from executives in tech, finance and energy for Trump. Yass, the co-founder of trading firm Susquehanna International Group and a major shareholder in TikTok parent ByteDance , gave US$16 million. Pipeline billionaire Kelcy Warren and his company, Energy Transfer LP, combined to give US$25 million. Crypto industry donors poured money in as well. Foris DAX, parent of exchange gave US$10 million, while gave US$5 million. Venture capitalists Marc Andreessen and Ben Horowitz each gave US$3 million, while billionaire twins Tyler Winklevoss and Cameron Winklevoss combined to give just over US$2 million. Maga Inc. got a US$5 million donation from Musk, a close Trump ally who fell out with the president after leaving his role overseeing the Department of Government Efficiency in late May. Musk has criticised Trump and Republicans over their signature tax and spending bill. Musk's donation hit on June 27, the same day he gave US$5 million cheques to two Super PACs that back Republican candidates in the House and Senate. In July, Musk vowed to create a third party.
