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India Today
a day ago
- Business
- India Today
Trump demands 15-20% tariff on all EU imports: Report
US President Donald Trump has intensified his tariff demands in ongoing trade negotiations with the European Union, pushing for a minimum rate of 15 percent to 20 per cent on EU imports, the Financial Times reported, citing sources familiar with the weeks of discussions toward a framework deal, Trump remains unswayed by recent EU offers, including one to reduce car tariffs. He is reportedly willing to keep duties on the auto sector at 25% as initially planned. With an August 1 deadline looming, talks appear to have stalled, and the EU is under pressure to U.S. official told the FT that the administration is now considering 'reciprocal' tariffs that exceed 10 per cent, even if an agreement is reached, putting added strain on already fragile negotiations. The EU, which had hoped for a deal mirroring its post-Brexit agreement with the UK (retaining a 10 per cent baseline tariff with some exemptions), is facing internal divisions on how to respond. Some diplomats warned that Trump's insistence on high, permanent reciprocal duties could force Brussels into retaliation.'We are not going to settle at 15 per cent,' said an EU diplomat, signalling a tougher stance. Another added, 'We don't want a trade war, but we don't know if the US will leave us a choice.'As tensions rise, the European Commission has prepared a series of countermeasures. These include tariffs on EUR 21 billion of US goods, such as chicken and jeans—set to take effect on August 6, along with additional proposals targeting EUR 72 billion in American exports, including Boeing aircraft and bourbon. A third list reportedly includes digital service Trump has dismissed concerns about inflation and market instability, pointing instead to USD 50 billion in extra customs revenue collected last quarter. Though U.S. stocks dipped on the news, markets have largely weathered tariff threats since Chancellor Friedrich Merz expressed scepticism about reaching a compromise, warning that sector-specific agreements remain unlikely due to the US's hardening just days left before Trump's deadline, the possibility of a trade war between two of the world's largest economies appears more real than ever.- EndsTune InMust Watch
India Today
3 days ago
- Politics
- India Today
Trump administration presses states for voter data and machine access: Report
The Trump administration and its allies are reportedly seeking access to state voter data and voting machines, raising concerns among election officials, according to a Washington Post report published on most striking developments are said to be unfolding in Colorado, where a consultant linked to the White House allegedly contacted county clerks to ask whether federal authorities or third parties could inspect voting equipment. advertisementWeld County Clerk Carly Koppes, a Republican, firmly rejected the idea, saying, 'That's a hard stop for me Nobody gets access to my voting equipment, for security reasons.' Separately, the Justice Department has requested voter rolls from at least nine states, with two states reportedly complying so far.A White House spokesperson, Harrison Fields, defended the effort, saying President Trump is committed to 'fighting for election integrity' and is confident in a legal elections in the US are managed by state and local governments, Trump continues to challenge the legitimacy of the 2020 election, which he lost to Joe Biden. In a Truth Social post over the weekend, Trump doubled down on his claims of widespread voter fraud and called for renewed action over what he continues to label the "stolen election of 2020."- EndsTune InMust Watch
India Today
4 days ago
- Sport
- India Today
England docked two WTC points for slow overrate in thrilling Lord's Test against India
England have been docked two ICC World Test Championship (WTC) points for maintaining a slow over rate during their recently concluded third Test match against India at Lord' sanction was imposed under Article 16.11.2 of the ICC WTC playing conditions, which states that teams are penalised one point for each over short, after considering all time allowances. Following this deduction, England's points tally dropped from 24 to 22 out of a possible 36, resulting in their points percentage falling from 66.67% to 61.11%.advertisementThis points deduction has significant implications for the WTC standings. England have now slipped from second to third place, with Sri Lanka overtaking them to claim the second spot on the table. In addition to the points penalty, England were also fined 10% of their match fee for the offence. According to Article 2.22 of the ICC Code of Conduct, players are fined 5% of their match fee for each over short. England captain Ben Stokes accepted the proposed sanction without contest, thereby waiving the need for a formal hearing. The decision was ratified by Richie Richardson of the Emirates ICC Elite Panel of Match charges were brought forward by on-field umpires Paul Reiffel and Sharfuddoula Ibne Shahid, along with third umpire Ahsan Raza and fourth umpire Graham match itself was a classic, with both teams locked in a gripping contest that stretched deep into the final session on Day 5. After posting identical first-innings scores, England built a 192-run lead, setting India a challenging fourth-innings chase began poorly with an early collapse, but a defiant lower-order counterattack led by Ravindra Jadeja reignited hopes of an upset. Ultimately, England held their nerve to clinch a dramatic 22-run victory, keeping the five-match series alive.- EndsTune InMust Watch
India Today
5 days ago
- Business
- India Today
More tax, quicker refunds: It's time to widen India's tax net
India's tax system has undergone significant improvements in recent years. Taxpayers are paying advance tax on time and receiving refunds as early as seven days after filing their returns. But while India's tax engine is revving harder, are there enough drivers?Finance Minister Nirmala Sitharaman, in a conclave with the principal chief commissioners of the Central Board of Direct Taxes on June 23, said that the government has undertaken several significant reforms in recent years, particularly in faceless assessment, e-verification system, tax exemptions and changes in slab rates, and digital service delivery. She also emphasised the need for the timely processing of tax refunds and the proactive resolution of taxpayer portion of total tax collected is refunded?The portion of gross tax collected that is refunded has touched an all-time high of 17.6 per cent in the financial year 2024–25. It was 13 per cent in FY2014–15. While the rise in refunds indicates an efficient tax system, it also highlights the excess tax collected from individuals. Rising gap between gross and net collectionsAs the refunds rise, the gap between the gross and net direct tax collections is also widening. In F2015, the gap was 0.8 percentage points. This swelled to a high of 1.5 percentage points in FY2025, according to the CBDT. This indicates that more tax is being collected, which has to be refunded after the end of the are the taxpayers?There were only 7.5 crore returns filed by individuals in the assessment year 2023-24, against a projected adult population of around 97 crore, according to the Income Tax Department. This brings the tax base to a mere seven to eight per more than 50 per cent of the adult population file income tax returns in the United States. The low tax base is an indication of a disproportionate burden of taxes on the salaried class. It also points towards the exclusion of the informal among those filing income tax returns, 27 per cent of the individuals have a gross average annual income of Rs 7 lakh, 17 per cent have income of Rs 4.8 lakh, eight per cent have Rs 12 lakh, and seven per cent have Rs 3 lakh as annual income.- EndsTune InMust Watch
India Today
6 days ago
- Politics
- India Today
Ahead of Jaishankar's visit, China says Dalai Lama succession thorn in India ties
The succession of Tibetan spiritual leader, the Dalai Lama, is a thorn in China-India relations, the Chinese embassy in New Delhi said on Sunday, as India's foreign minister prepares to visit China for the first time since deadly border clashes in of celebrations this month for his 90th birthday that were attended by senior Indian ministers, the head of Tibetan Buddhists riled China again by saying it had no role in his succession. Tibetans believe the soul of any senior Buddhist monk is reincarnated after his death, but China says the Dalai Lama's succession will also have to be approved by its Dalai Lama has been living in exile in India since 1959 following a failed uprising against Chinese rule in Tibet, and Indian foreign relations experts say his presence gives New Delhi leverage against China. India is also home to about 70,000 Tibetans and a Tibetan government-in-exile. Yu Jing, a Chinese embassy spokesperson, said on social media app X that some people from strategic and academic communities in India had made "improper remarks" on the reincarnation of the Dalai did not name anyone, but in recent days, Indian strategic affairs analysts and a government minister backed the Dalai Lama's remarks on his succession."As professionals in foreign affairs, they should be fully cognisant of the sensitivity of issues related to Xizang," Yu said, using the Chinese name for Tibet."The reincarnation and succession of the Dalai Lama is inherently an internal affair of China," she said."(The) Xizang-related issue is a thorn in China-India relations and has become a burden for India. Playing the 'Xizang card' will definitely end up shooting oneself in the foot."Indian Parliamentary and Minority Affairs Minister Kiren Rijiju, who sat next to the Dalai Lama during the birthday festivities a week ago, has said that as a practising Buddhist, he believes only the spiritual guru and his office have the authority to decide on his foreign ministry said on July 4, two days before the Dalai Lama's birthday, that New Delhi does not take any position or speak on matters concerning beliefs and practices of faith and External Affairs Minister S Jaishankar will be attending a regional security meeting under the Shanghai Cooperation Organisation in Tianjin in northern China on July 15 and hold bilateral meetings on the will be one of the highest-level visits between India and China since their relations nosedived after a deadly border clash in 2020 that killed at least 20 Indian and four Chinese last month, India's defence minister held talks with his Chinese counterpart in China on the sidelines of a defence ministers' meeting of the Shanghai Cooperation Organisation.- EndsTune InMust Watch
