'Very close to Modi, but sanctioned India': Trump on 50 per cent tariffs
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US President Donald Trump on Thursday said he is very close to Prime Minister Narendra Modi, but imposed 50 per cent tariffs on India nonetheless because of its imports of Russian crude oil.
“I'm very close to India. I'm very close to the Prime Minister of India. I spoke to him the other day to wish him a Happy Birthday. We have a very good relationship, and he put out a beautiful statement, too. But I sanctioned them,” Trump said at a joint press conference with United Kingdom (UK) Prime Minister Keir Starmer at Chequers in Buckinghamshire.
The Trump administration has imposed a 50 per cent tariff on India, half of which is a punitive tariff for purchasing Russian oil. The American president defended the tariffs by saying that he wants to drop the price of Russian oil, which will eventually lead Moscow to drop out of the war in Ukraine.
“Very simply, if the price of oil comes down, Putin is going to drop out. He's going to have no choice. He's going to drop out of that war," Trump said.
However, India’s purchases of Russian oil have remained steady despite the tariffs.
'I stopped the war': Trump repeats his claim
Despite repeated denials by New Delhi of any third-party involvement in pausing Operation Sindoor's hostilities, Trump once again repeated his claim that he played a role in ending hostilities between India and Pakistan in April after the Pahalgam terror attack. India has consistently maintained that the ceasefire was reached after the Pakistani Director General of Military Operations (DGMO) called his counterpart across the border seeking a ceasefire.
“We did seven (conflicts) and most of them were not thought to be settleable. We did India, and we did Pakistan. That’s two nuclear (countries),” Trump said in the UK on Thursday.
Other Latest News
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The Securities and Exchange Board of India (Sebi) is working with the Reserve Bank of India (RBI) to introduce corporate bond index derivatives as part of efforts to deepen the domestic debt market, said Ananth Narayan G, whole-time member, on Friday.
“Corporate bond index derivatives trading is another frontier in this regard. Good discussions are ongoing between Sebi and RBI, and we are hopeful that we will see progress soon”.
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The website of Employees’ Provident Fund Organisation (EPFO) has a new feature called ‘Passbook Lite’ that eases tracking of PF accounts and speeds up claims processing.
Mansukh Mandaviya, Union Minister for Labour and Employment, announced the feature on Thursday as he said all key EPFO services will be available on a single login to improve transparency and efficiency for over 70 million pension subscribers.
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The Securities and Exchange Board of India (SEBI) on Thursday cleared the Adani Group of allegations made by US-based short-seller Hindenburg Research, saying it found no breach of regulatory norms by the group’s companies.
I find that the allegations made against noticees in the SCN are not established. Considering the above
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Patanjali Ayurved on Friday approached the Delhi High Court challenging an order restraining it from running disparaging advertisements against Dabur Chyawanprash.
At the outset, a bench of Justices C Hari Shankar and Om Prakash Shukla orally observed that it was a case of generic disparagement and the statements made by Patanjali are an obvious reference to respondent Dabur.
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President Donald Trump said that US television networks could face scrutiny of their broadcast licences if they air too much criticism of him, Bloomberg reported.
Speaking to journalists aboard Air Force One on Thursday, he said, “When you have a network and you have evening shows, and all they do is hit Trump, I would think maybe their licence should be taken away.”
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