No US role in ceasefire, no nuclear signalling from Pak, Parliament panel told
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Economic Times
29 minutes ago
- Economic Times
Taiwan to face economic risk as US mulls semiconductor tariffs under Trump proposal: Think tank
ANI Taiwan is bracing for a significant economic challenge as US President Donald Trump threatens to impose a tariff on semiconductors, according to the Chung-Hua Institution for Economic Research (CIER), reported by Focus industry is central to the island's exports and overall economy. Information and communication technology (ICT) products account for over 70% of Taipei's exports to the United States, according to the CIER. CIER President Lien Hsien-ming told CNA on Friday that Taiwan's dependence on semiconductors is notably higher than that of other countries. "He said compared with other countries, the semiconductor industry carries a heavier weighting for Taiwan in terms of industrial and economic development. In 2024, Taiwan recorded a trade surplus of $73.9 billion with the United States, up from $47.8 billion in 2023, largely driven by strong American demand for AI servers and semiconductors during the ongoing artificial intelligence boom. "I think Trump really cares about a trade deficit resulting from purchases of high tech gadgets such as semiconductors," Lien said, referring to a US investigation launched in April under Section 232 of the Trade Expansion Act of 1962, targeting ICT products--especially semiconductors--as part of a possible new tariff regime."As ICT products make up more than 70 percent of Taiwan's exports to the US, a tariff on semiconductors could have a bigger impact on Taiwan's economy than the 20 percent blanket tariff the White House announced Thursday," Lien newly announced blanket tariff rate was lowered from 32%, previously suggested by Trump on April response, President Lai Ching-te said the 20% tariff was provisional and that Taiwan would continue negotiations with the US to secure a lower rate. Taiwan's negotiating team will also address the semiconductor issue directly with their American counterparts. Lai's statements reflect a growing focus within the Taiwanese government on the potential threat posed by a targeted semiconductor tariff."Lai's remarks show the government is focused on a possible tariff on semiconductors as such a levy could threaten Taiwan's economy," Lien said, according to the Focus Vice President Chen Shin-horng echoed Lien's concerns, saying that based on current US negotiation tactics, targeted tariffs on specific industries like semiconductors are likely to be steeper than general blanket added that Trump appears to be leveraging Section 232 of the Trade Expansion Act as a strategic tool to push for major foreign investments in the the US may be aware that foreign chipmakers are unlikely to launch new production facilities in the short term, tariffs could still be phased in gradually.A tariff under the clause could be set at a lower level at the beginning and gradually increased over the next two to three years, Chen Semiconductor Manufacturing (TSMC), currently investing $65 billion in Arizona with an additional $100 billion pledged, has already warned the US government that proposed tariffs on Taiwanese semiconductors could significantly undermine demand and disrupt its investment strategy."New import restrictions could jeopardize current US leadership in the competitive technology industry and create uncertainties for many committed semiconductor capital projects in the US, including TSMC Arizona's significant investment plan in Phoenix," the chipmaker wrote in a letter to the US Department of Commerce in May, according to the Focus Taiwan. US Commerce Secretary Howard Lutnick said in late July that results of the ongoing investigation will be announced within two weeks, ahead of any final decision on semiconductor tariffs. Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. Jane St: How an options trader smelt a rat when others raised a toast TCS job cuts may not stop at 12,000; its bench policy threatens more Unlisted dreams, listed disappointments? NSDL's IPO leaves pre-IPO investors riled. Regulators promote exchanges; can they stifle one? Watch IEX Did Meesho's Valmo really deliver a knockout punch to e-commerce logistics? Sebi's settlement with market intermediaries: More mystery than transparency? Trump tantrum: Check the Indian pulse of your portfolio. 71 stocks from 5 sectors for whom Trump may not even be noise F&O Radar| Deploy Short Strangle in Nifty to gain from Theta decay Stock Radar: PI Industries stock showing signs of momentum; takes support above 50-DEMA – time to buy?
NDTV
44 minutes ago
- NDTV
US Court Upholds Order Blocking Indiscriminate Targeting By Immigration Patrols In California
A US appeals court has upheld an order blocking immigration agents from carrying out patrols in California that led to indiscriminate detentions without reasonable grounds to suspect people of being undocumented. The ruling late Friday by a three-judge panel denies the federal government's appeal to overturn a temporary July order to halt the "roving patrols" in Los Angeles that immigration rights groups have described as illegally using racial profiling. District Judge Maame Ewusi-Mensah Frimpong had ordered an end to the arrests, arguing such actions by agents violate a person's constitutional rights that safeguard against unreasonable seizures by the government. She said the detentions were being made "based upon race alone," on whether a person was speaking Spanish or English with an accent or because of their place of work, and ordered them stopped. Friday's ruling by the US court of appeals for the Ninth Circuit described the case of plaintiff Jason Gavidia, a US citizen born and raised in East Los Angeles who was arrested outside a tow yard in Montebello on June 12 by agents carrying military-style rifles. "The agents repeatedly asked Gavidia whether he is American -- and they repeatedly ignored his answer: 'I am an American,'" the ruling said. Agents asked what hospital he was born in, and Gavidia responded he did not know, but said he was born in "East LA." It said Gavidia told the agents he could show them his government-issued ID. "The agents took Gavidia's ID and his phone and kept his phone for 20 minutes. They never returned his ID." California residents and advocacy groups sued the Department of Homeland Security over the detentions. Los Angeles and surrounding suburbs have been ground zero for President Donald Trump's aggressive immigration crackdown. He ordered the US military deployed there for weeks, and agents have rounded up migrants at car washes, bus stops, stores and farms. The ruling said the government's defense team argued that "certain types of businesses, including car washes, were selected for encounters because... they are likely to employ persons without legal documentation." Rights groups hailed the order as a victory for those seeking to bar the Department of Homeland Security and agents from Immigration and Customs Enforcement from conducting such raids. "This decision is further confirmation that the administration's paramilitary invasion of Los Angeles violated the Constitution and caused irreparable injury across the region," said attorney Mohammad Tajsar of the ACLU Foundation of Southern California. "We look forward to holding the federal government accountable for these authoritarian horrors it unleashed in Southern California."
Time of India
an hour ago
- Time of India
2009 Indo-Pak meet was lowest point in India's foreign policy: BJP foreign affairs head
Nagpur: Vijay Chauthaiwale, in-charge of BJP's foreign affairs department, described the 2009 Indo-Pak bilateral meeting in Egypt as the lowest point in India's foreign policy. Speaking at an event organized by the Late Prakash Rajurkar Memorial Trust in Nagpur, Chauthaiwale said the joint statement issued after the meeting between then PM Manmohan Singh and his Pakistani counterpart Syed Yousuf Raza Gilani undermined India's anti-terrorism stance. Quoting from the statement, he said it allowed dialogue to continue despite Pakistan's alleged involvement in terrorism, effectively bracketing terrorism with talks. "That meeting was a diplomatic concession to Pakistan at a time when it didn't deserve one," he said. Chauthaiwale, who hails from Nagpur, outlined how India's foreign policy under PM Narendra Modi had evolved from that time. He emphasised the growing importance of the India-Middle East-Europe Corridor (IMEEC), calling it a potential gamechanger. "This is the only trade route where the US, Russia, France, and Israel collaborate for defence and trade," he said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Beyond Text Generation: An AI Tool That Helps You Write Better Grammarly Install Now Undo Explaining the route, he noted that goods would move from India to the Gulf by sea, from the Gulf to Europe by road, and from Europe to the US by sea, enhancing India's strategic positioning. C hauthaiwale said foreign policy today is no longer about traditional alliances, but about real-time pragmatism. "Even within the EU, countries don't agree on a common stance. The UN has become powerless and confused," he said. Discussing Operation Sindoor, he lauded the Modi govt's ability to conduct a strategic retaliation without a single bullet being fired. "There was no infantry involved — only air power, missile precision, and drone defence — all developed indigenously," he said. He credited the Atmanirbhar Bharat vision for enabling these advancements. Following the Pahalgam attack, India undertook diplomatic outreach through 27 calls by external affairs minister S Jaishankar, 20 by PM Modi, and over 30 letters to international leaders. The message was clear: India will strike back at terror bases, but the war is not against the people of Pakistan. Chauthaiwale also highlighted a new experiment in diplomacy — seven multi-party delegations visited over 35 countries to reinforce unity on terrorism. "Modi's foreign policy is based on pragmatism, realism, and humanism. It is not rigid but always aligned with India's enlightened self-interest," he concluded. 'No budging from principles despite US tariffs' Commenting on the tariffs levied by US President Donald Trump on Indian goods, Vijay Chauthaiwale said India will not budge from the country's core principles, despite what the US does. However, he added that this did not cause any damage to the India-US relations. "Trade is only a small part of our relationship, not a deciding factor. Also, we are still in talks with the US diplomats, so there is still hope," he said. He also said the day when President Trump announced the tariffs, on the same day, Isro and Nasa jointly launched a $1.5 billion satellite. Get the latest lifestyle updates on Times of India, along with Friendship Day wishes , messages and quotes !
