Trump Threatens 25% Tariffs on Indian Goods Over Russia Deals as Rupee Tumbles

President Trump announced a 25% tariff on Indian goods starting August 1 and warned of an additional penalty tied to India's purchases of Russian oil and military equipment.

India's government denounced the move as a diplomatic failure, with opposition lawmakers in New Delhi calling for a parliamentary debate. The rupee slid to a five-month low and equity indexes dipped amid economists' warnings that the steep levy could shave up to 40 basis points off growth this fiscal year.

Key points:

• Trump cited India as one of Russia's largest energy and arms customers alongside China.


• India, the U.S.'s biggest export market in Asia, says it will "deal with" any fallout and insists it imports oil from nearly 40 sources.


• Trade talks continue ahead of Trump's Friday deadline for reciprocal deals or automatic tariffs.

President Trump on Truth Social warned that Canada's recent pledge to recognize a Palestinian state will jeopardize bilateral trade talks. He wrote, "Wow! Canada has just announced that it is backing statehood for Palestine. That will make it very hard for us to make a Trade Deal with them."

• Canada plans to formally recognise Palestine at the U.N. in September—joining France and the U.K.

• The White House has set an August 1 deadline for a deal or tariffs up to 35% on Canadian imports

• Ottawa says talks remain "constructive," while Canadian provinces have already imposed retaliatory levies on U.S. goods

WASHINGTON — Fed Chair Jerome Powell showed no sign of yielding to President Donald Trump's repeated calls for immediate interest-rate cuts, maintaining a patient policy stance even as dissent surfaced among Fed governors. In his latest review, Powell emphasized that the central bank would await clearer signals on inflation and growth before adjusting its benchmark rate near 4.33%.

Trump's public rebuke has intensified in recent weeks, with the president branding Powell "too late, too stupid and too political" on Truth Social and threatening leadership overhauls. Powell countered that policy moves will be data-driven: "We're still a ways away from seeing where things settle down," he said, underscoring the Fed's caution amid trade tensions and economic uncertainty.

President Trump on Wednesday unveiled a new digital health data sharing network at a White House event, saying America's health care systems are overdue for a high-tech upgrade. The Centers for Medicare & Medicaid Services (CMS) will maintain the platform, which requires patients to opt in before their records are shared with apps and providers run by more than 60 companies, including Amazon, Google, Apple, UnitedHealth Group and CVS Health.

Key features include:

• Seamless patient–provider–app data sharing across systems


• Focus on diabetes and obesity management, AI symptom checkers and appointment scheduling


• QR codes and mobile apps for check-ins and medication tracking

Privacy and legal experts warn that many participating tech firms fall outside HIPAA protections, potentially leaving sensitive health information vulnerable to misuse.

WASHINGTON, D.C. & BANGKOK — A late-May phone call from President Donald Trump to Thai Acting Prime Minister Phumtham Wechayachai broke a week-long stalemate over escalating clashes along a 200-km stretch of the Thailand–Cambodia border.

Key Facts:

• Trump leveraged U.S. tariff negotiations, warning of 36% duties on goods from both nations until hostilities ceased.


• Thailand agreed to bilateral talks—hosted in Malaysia—on condition they be led by each country's prime minister at a neutral venue.

Within 20 hours of the call, Bangkok and Phnom Penh met in Putrajaya under ASEAN chair Anwar Ibrahim's mediation, declaring a ceasefire from midnight and reopening negotiations on their undemarcated frontier.