'I'm disappointed in Putin…': Trump's final warning, Russian Prez gets just 10-12 days to truce deal
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Mint
7 minutes ago
- Mint
India, UK, Canada, Vietnam: Full list of countries slapped with Trump tariffs vs nations that struck trade deals
Trump Tariff List: President Donald Trump is not pushing back an August 1 deadline he set for US tariffs to kick in, with his latest tax blow being on India, which has been slapped with a 25 per cent tariff rate. Donald Trump on Wednesday announced a 25 per cent tariff on Indian imports and threatened an additional "penalty" in response to India's energy purchases from Russia. Not just India, Trump has imposed tariffs on a number of nations, while also announcing trade deal with some others. Here is what you need to know about which countries face Trump tariffs from August 1, and which ones have signed a trade deal with the US. US President Donald Trump on Wednesday slapped a 25 per cent tariff rate on all imports from India, plus unspecified penalties on New Delhi for importing energy from Russia that has failed to stop the war in Ukraine. The surprise announcement came a day after Indian officials said that a US trade team would visit from August 25 to negotiate a trade deal. While Trump later clarified that trade talks are still on, he flagged India's participation at the 'BRICS', calling the coalition 'anti-American'. Doubling down on his attack, Trump on late Wednesday said India and Russia can take their 'dead economies down together', clearly frustrated due to the close ties of the two nations. 'I don't care what India does with Russia. They can take their dead economies down together, for all I care,' he said. The Trump tariffs on India will start kicking in from August 1. India: Tariff rate on April 2 - 26%; Tariff rate from August 1 -25% Mexico: Tariff rate on April 2 - NA; Tariff rate from August 1 - 30% Canada: Tariff rate on April 2 - NA; Tariff rate from August 1 - 35% Iraq: Tariff rate on April 2 - 39%; Tariff rate from August 1 - 35% Moldova: Tariff rate on April 2 - 31%; Tariff rate from August 1 - 25% Libya: Tariff rate on April 2 - 31%; Tariff rate from August 1 - 30% Algeria: Tariff rate on April 2 - 30%; Tariff rate from August 1 - 30% Brunei: Tariff rate on April 2 - 24%; Tariff rate from August 1 - 25% South Korea: April 2 tariff rate - 25%; August 1 tariff rate - 15% EU: April 2 tariff rate - 20%; August 1 tariff rate - 15% Japan: April 2 tariff rate -24% ; August 1 tariff rate - 15% Philippines: April 2 tariff rate - 17%; August 1 tariff rate - 19% Indonesia: April 2 tariff rate - 32%; August 1 tariff rate - 19% Vietnam: April 2 tariff rate - 46%; August 1 tariff rate - 20% UK: April 2 tariff rate - 10%; August 1 tariff rate - 10%
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Business Standard
7 minutes ago
- Business Standard
Is Pakistan sitting on an oil jackpot? Here's what US surveys suggest
US President Donald Trump announced a new energy initiative with Pakistan to explore and develop the country's "oil reserves", claiming they were 'massive' and suggesting that Islamabad might one day export oil to India. 'We have just concluded a deal with Pakistan … We are in the process of choosing the oil company that will lead this partnership. Who knows, maybe they'll be selling oil to India some day!' Donald Trump wrote in a post on Truth Social. The surprise remark came amid escalating trade tensions with New Delhi and a broader White House campaign to rebalance US trade relationships, including 25 per cent tariffs and added penalties on Indian imports. Trump has expressed dissatisfaction over India's ties with Russia, specifically pressuring New Delhi on its crude oil imports. As of now, neither the US State Department nor Pakistan's Ministry of Energy has confirmed further details. But what does Pakistan actually have underground? The answer lies in two major US government studies — one in 2015 by the Energy Information Administration (EIA) and another in 2017 by the US Geological Survey (USGS). Both offer technically rich yet cautious estimates about Pakistan's hydrocarbon potential. What the US said in 2015: Potential in the billions, on paper According to the 2015 EIA/ARI study on technically recoverable shale resources, Pakistan holds: 9.1 billion barrels of technically recoverable shale oil 105 trillion cubic feet (Tcf) of technically recoverable shale gas These are found primarily in two formations: 1. Sembar Shale (Lower Cretaceous): Oil: 5.8 billion barrels Gas: 101 Tcf 2. Ranikot Formation (Paleocene): Oil: 3.3 billion barrels Gas: 4 Tcf The figures are impressive, but the EIA stressed that these were risked, technically recoverable resources, not proven reserves. The data were based on limited field information, modelled from US analogues, and subject to significant geological and infrastructural uncertainties. What the USGS said in 2017: Smaller, still unproven, but quantified In 2017, the USGS conducted its own assessment of the Lower Indus Basin — the same area where Trump's proposed development would likely occur. According to the USGS Fact Sheet (2017-3034), estimated mean technically recoverable resources: Oil: 164 million barrels Gas: 24.6 Tcf Natural Gas Liquids: 601 million barrels This is substantially lower than the EIA's 2015 figures, suggesting that later geological modelling, while still positive, reflects a more conservative view of what's likely to be commercially extractable in the near term. The USGS based its projections on: Six defined assessment units (AUs) in the Lower Indus Basin US shale analogues for productivity benchmarks Post-Eocene geological modelling after plate collision with Eurasia It must be noted that this 2017 assessment still assumes continuous accumulations, not proven reserves, and the probability of actual success was less than 1.0 in several units. Pakistan's ground reality: Exploration yet to begin Despite over a decade of mapping and studies, Pakistan has not drilled a single shale-specific well in these formations. Both reports acknowledged: No domestic infrastructure for commercial-scale hydraulic fracturing Water scarcity in potential exploration zones Policy ambiguity, security risks, and lack of field data as barriers Why Donald Trump's timing matters Donald Trump's announcement of an oil development deal with Pakistan came just hours after imposing 25 per cent tariffs and penalties on Indian imports—timing that strongly suggests a strategic use of India–Pakistan rivalry to apply pressure on New Delhi. The move follows a pattern in Trump's diplomacy: leveraging regional tensions to gain a negotiating advantage. In the Russia-Ukraine war, Trump initially suspended US military aid to Ukraine, had a public spat with President Volodymyr Zelenskyy, and held talks with Russia that excluded Kyiv. Weeks later, he reversed course—publicly pressuring Moscow with a 10-day ceasefire deadline and threats of new US sanctions and openly expressing frustration with Vladimir Putin. Even during trade tension with China in his previous term (2019), Trump showed support for Taiwan through arms sales and diplomatic visits. While no formal project or operator has yet been named, Trump said the US was 'in the process of choosing the oil company that will lead this partnership.' The bottom line Trump's potential energy deal with Pakistan currently rests on highly speculative ground. The geological promise of Pakistan's shale reserves remains real but untested, and commercial extraction is years, if not decades, away without major investment, infrastructure, and political will.
Time of India
7 minutes ago
- Time of India
'India, Russia Can Take Their Dead Economies Down Together': Trump's Another Big Bombshell
In a fresh outburst, US President Donald Trump once again targeted India for having trade ties with Russia. In a post on Truth Social, Trump said, "I don't care what India does with Russia. They can take their dead economies down together, for all I care. We have done very little business with India; their tariffs are too high, among the highest in the world. Likewise, Russia and the USA do almost no business together. Let's keep it that way." Trump's comments come a day after he announced a 25% tariff on Indian imports and penalties over its trade and defense relationship with Moscow. Watch this video to know more. Read More
