President Donald Trump signed an executive order on Wednesday imposing an additional 25% tariff on Indian goods, citing India’s continuous purchasing of Russian oil. This raises the total tariffs on Indian imports to 50%.
Read More Trump imposes additional 25% tariff on India for purchasing more Russian oil, bringing total levies to 50%
Apple said it would spend $500 billion in U.S. investments that will include a giant factory in Texas for AI servers while adding about 20,000 research and development jobs.
Read More Apple to pledge $100 billion for US manufacturing, White House official says
White House Deputy Chief of Staff Stephen Miller accused India of effectively funding Russia’s war in Ukraine by continuing to purchase Russian oil, despite U.S. tariffs imposed in response.
Read More Stephen Miller accuses India of financing Russia’s war in Ukraine
President Donald Trump has announced that the U.S. will impose a 25% blanket tariff on India, with further tariff increases imminent due to the nation’s decision to purchase Russian oil.
Read More Trump imposes 25% tariff and ‘additional penalties’ on India for purchasing Russian oil, military equipment
The S&P 500 and the Nasdaq opened at record highs, while the Dow was on the cusp of that as optimism from a U.S.-EU trade pact set the stage for a week packed with megacap earnings.
Read More S&P, Nasdaq at record highs as US-EU trade deal sparks optimism in pivotal week
Iran’s parliament backed a measure on Sunday to close the Strait of Hormuz, a key maritime passage that accounted for 20 percent of global petroleum liquid consumption in 2024.This comes after the United States carried out targeted attacks on key nuclear facilities Fordow, Natanz and Isfahan to decimate Iran’s nuclear capabilities.
Read More Iran Parliament backs measure to close off the Strait of Hormuz