President Financial News

Subscribe to enjoy similar stories. Apple is widely expected to launch a foldable iPhone next year. But it faces stiff competition in the world of flexible smartphones, as Samsung Electronics is bringing its own triple-folding device to the U.S.

Subscribe to enjoy similar stories. WASHINGTON—The Trump administration canceled a slate of interviews set to start this week with a group of finalists to be the next chair of the Federal Reserve as President Trump again suggested he had made up his mind about who should lead the central bank. Trump’s team informed candidates that interviews scheduled for Wednesday with Vice President JD Vance had been canceled, according to people familiar with the matter.

Subscribe to enjoy similar stories. The AI chatbot Estée Lauder Companies built for its Jo Malone London fragrance brand has a uniquely difficult task. Unlike the current barrage of agentic stylists and shoppers tasked with picking outfits and hunting down deals, the “AI Scent Advisor" must spin everyday language into the intangible and totally nondigital experience of smelling.

The Starlink service will be unveiled at a government-backed investment summit that opens in Dhaka on Monday. «We granted them approval,» Chowdhury Ashik Mahmud, chairman of the Bangladesh Investment Development Authority, told reporters on Sunday. Mahmud said it was granted on March 28, several days before US President Donald Trump unveiled his wide-ranging tariff programme that sent global markets into a tailspin. The new tariff on Bangladesh goods was set at 37 percent, hiking duties from the previous 16 percent on cotton.

The 27-country bloc faces 25 per cent import tariffs on steel and aluminium and cars and 'reciprocal' tariffs of 20 per cent from Wednesday for almost all other goods. President Trump's tariffs cover some 70 per cent of the EU's exports to the United States — worth in total 532 billion euros ($585 billion) last year — with likely duties on copper, pharmaceuticals, semiconductors and timber still to come. When Trump hit steel and aluminium imports with a 25 percent tariff in March, the EU decided on «an eye for an eye» approach. «We will react in areas where it hurts the United States,» a senior EU official said. Officials have previously said the EU will target goods from politically important US states, including soybeans produced in Louisiana, the home of US Speaker Mike Johnson, who pushes Trump's agenda in Congress. The is happening even though, President Trump's one of the closest advisers billionaire Elon Musk told Italy League leader Matteo Salvini on Saturday that he hoped in the future the US and Europe could create «a very close, stronger partnership» and reach a «zero-tariff zone.» Musk spoke to Salvini in a video conference during the League's congress in Florence. Salvini is the leader of the far-right, anti-migrant League party and vice premier of the Italian conservative government led by Premier Giorgia Meloni.

White House to begin trade talks, a top economic adviser to U.S. President Donald Trump said on Sunday as U.S. officials sought to defend sweeping new tariffs that have unleashed global turmoil. During an interview on ABC News' 'This Week,' U.S. National Economic Council Director Kevin Hassett denied that the tariffs were part of a strategy by Trump to crash financial markets to pressure the U.S. Federal Reserve to cut interest rates. He said there were would be no «political coercion» of the central bank. In a Truth Social post on Friday, Trump shared a video that suggested his tariffs aimed to hammer the stock market on purpose in a bid to force lower interest rates. In a separate interview on NBC News's Meet the Press, U.S. Treasury Secretary Scott Bessent downplayed the stock market drop and said there was «no reason» to anticipate a recession based on the tariffs. Trump jolted economies around the world after he announced broad tariffs on U.S. imports on Wednesday, triggering retaliatory levies from China and sparking fears of a globe trade war and recession.

Joseph Wu was leading a delegation for a meeting known as the «special channel», the Financial Times reported earlier. It marked Trump's first use of the channel since returning to the White House on January 20. Feud around Taiwan The island nation of Taiwan has always remained a prime target for Chinese President Xi Jinping and the ruling Chinese Communist Party (CCP). However, Taiwan's Democratic Progressive Party (DPP) has shown keen interest in keeping a good rapport with the US in order to tackle Beijing, as per a report on Daily Mail. But why is Taiwan so important for both the US and China? Located in the geopolitically critical South China Sea, the island nation is barely 100 kilometres away from China's southeastern shores. The tiny island country is hub of manufacturing and technological giants. Apart from this, Taiwan occupies the key trade route of Taiwan Strait. Also, Taiwan is part of 'first island chain' which includes territories from Japan to Philippines.

Congress has had a historical connection with Gujarat as its stalwarts, Mahatma Gandhi and Vallabhbhai Patel, hailed from there and the party has held five of its sessions in the state, with each of those contributing in shaping the country's history. The upcoming All India Congress Committee (AICC) session in Ahmedabad on April 8-9 will be the party's sixth in the state and the second post independence. It will also be the Congress's third session in Ahmedabad since its formation in 1885. In a video statement, Congress general secretary in-charge of Gujarat affairs Mukul Wasnik said on Sunday that the session would be attended by party president Mallikarjun Kharge, former party chiefs Sonia Gandhi and Rahul Gandhi and other top leaders. He said all key issues facing the country and political challenges will be discussed at the session and the direction of Indian politics shaped. A couple of days before the session, Congress general secretary in-charge communications Jairam Ramesh put out on X the official records of the past sessions held in Gujarat.

Subscribe to enjoy similar stories. Chennai: In 1947, the US led 23 nations into signing the General Agreement on Tariffs and Trade (GATT). The effort was to lower trade and tariff barriers among nations.

Donald Trump’s tariff imposition, and is focusing efforts on negotiating a bilateral trade deal with the US to bring down duties, according to a Indian government official. The South Asian country is seeking dialogue and not confrontation, the official said, adding that India has first mover advantage compared to rivals in the region. India plans to work toward a balanced and equitable trade deal with the US, the official said. All options are up for negotiation, and both goods and services will be discussed, according to the official. The government is also in touch with exporters on the expected impact and will help if they reach out. Trump last week announced a 26% tariff on US imports from India, dealing a blow to exporters and risking exacerbating a slowdown in an economy already suffering from weak consumer confidence. A lower negotiated rate could provide some relief, though escalating global trade tensions are still a threat. During his visit to Washington after Trump’s return to the Oval Office, Prime Minister Narendra Modi and the US president agreed to negotiate a bilateral trade deal by the fall of this year.

The mineral-rich country's main trading partners are the United Arab Emirates, South Africa and China, and its limited exports to the US comprise mainly of tobacco and sugar. «I will direct the Zimbabwean government to implement a suspension of all tariffs levied on goods originating from the United States,» President Emmerson Mnangagwa said in a post on X. This announcement was «intended to facilitate the expansion of American imports within the Zimbabwean market, while simultaneously promoting the growth of Zimbabwean exports destined for the United States,» he said. The total goods trade between the two countries amounted to $111.6 million in 2024, according to US government data.

Fitch Ratings said in a note. Post the higher-than-anticipated tariffs imposed the US administration, the rating agency projected that US growth in 2025 is likely to be slower than the 1.7 per cent that it had projected in March. According to Fitch Ratings, tariff hikes will result in higher consumer prices and lower corporate profits in the US. «Higher prices will squeeze real wages, weighing on consumer spending, while lower profits and policy uncertainty will act as a drag on business investment,» Fitch said. «Upward pressure on goods prices from tariffs — in the context of a recent large jump in US households' medium-term inflation expectations — means the Fed is likely to become more cautious about further rate cuts in the near term.»

Congress general secretary Sachin Pilot on Sunday said that Prime Minister Narendra Modi should have worked out a constructive solution during his last America visit rather than just indulging in «photo ops» and exchanging gifts. He said that at a time the world is responding to the imposition of reciprocal tariffs by the US, the Indian government is merely buying time and leaving everything to fate. In an interview to PTI, the former minister for Corporate Affairs said the Indian government is accepting what has been given out and has not even offered a response. «I would imagine, when the PM was in Washington (in February) and met the president of the US, instead of just photo ops and exchanging gifts, something more constructive should have come out of it,» Pilot said. «If our relations are as strong as the two leaders claim, then we would not have been slapped with these steep tariffs. Clearly our exports will be severely hit, manufacturing was in any way on a downside, MSMEs are in for a shock...The economy will face severe stress due to resulting layoffs and job losses but unfortunately we have not had an adequate response or even an indication of how to navigate this situation.» he said. The government was caught napping and it seems under US pressure to sacrifice Indian interests, he alleged.

reciprocal tariffs by the US on other competing nations raises the possibility of increased dumping by those nations in India, as well as in other export markets, which could negatively impact certain sectors, CareEdge Ratings said in a report. According to the report ' Sectoral Impact of US Reciprocal Tariff: Neutral to Negative, ' the expected direct impact of US reciprocal tariffs would vary, with no impact expected on pharmaceuticals since they are exempt from reciprocal tariffs for now. According to the rating agency, the impact is expected to be largely neutral for electronics, textiles, agricultural products, chemicals, and automobiles and parts. At the same time, it would be negative for gems and jewellery. During 2023-24, India's aggregate merchandise exports to the US stood at USD 77.5 billion compared to its imports from the US at USD 42.2 billion. Out of India's total exports to the US, the sectors in descending order of value are electronics, textiles, pharmaceuticals, gems and jewellery, agricultural products, chemicals and automobiles and parts.

Earlier, Tamil Nadu Congress Committee President K Selvaperunthagai said that the party condemns the idea of One Nation One Election, the passing of the Waqf (Amendment) Bill, the non-disbursement of funds and other policies. The party is also going to raise slogans condemning the Waqf Bill as PM Modi reaches Rameswaram city. "(Union Finance Minister) Nirmala Sitharaman in Chennai event said One Nation One Election would be implemented.… we are holding this protest. We will also raise new slogans as PM Modi reaches Rameshwaram," K Selvaperunthagai said. «We are also showing black flag to Modi condemning Waqf Board Amendment,» he added.

BJP is looking to elect its heads in a number of key states in the coming days to pave the way for the election of its new national president, a process which has stretched longer than expected. Official sources said the party leadership is keen on a quick election of its presidents in big states like Uttar Pradesh, Madhya Pradesh and Karnataka, among others, to finish the organisational exercise that began with the launch of a nationwide membership drive in September last year. The BJP's constitution requires the party to complete its organisational election in at least half of its state units, meaning that new presidents should be in place in at least 19 states, including union territories, before the exercise to choose the new national president begins. The BJP has 37 organisational states in total. When the party's membership drive began in September last year, it was largely believed that the election of the new president in place of incumbent J P Nadda would be over by January-February this year. However, a delay in electing its presidents in several big states as the party looks to build a consensus and take its ideological allies like the RSS into confidence has set back the process by several weeks.

Subscribe to enjoy similar stories. WASHINGTON—President Trump is pressing for access to mineral rights across the globe, hoping to outduel China in a global competition for raw materials to fuel U.S. military and industrial might.

Subscribe to enjoy similar stories. Cash is looking more and more attractive these days. Stocks tumbled after President Trump escalated his trade war against the rest of the world.

Subscribe to enjoy similar stories. Beijing spent the first months of President Trump’s second term trying—and failing—to figure out the new administration’s approach to China. Officials hoping to build lines of communication with Washington had no luck.

Subscribe to enjoy similar stories. The Indian economy's performance showed some improvement in February as compared with the previous month, showed the 16-high frequency indicators tracked by Mint in its monthly macro tracker. The recovery was led mainly by tractor sales and Purchasing Managers’ Index (PMI).

Subscribe to enjoy similar stories. He’s serious, and that’s seriously bad news for the stock market. President Donald Trump launched a major new phase in his trade war on Wednesday, imposing tariffs on nearly every country on the globe.