Page 7 - United States

India to send team to US next week for interim trade pact text: Comm Secy

A team of Indian officials will visit the US next week to finalise the legal text for an interim trade agreement, which is likely to be signed in March, Commerce Secretary Rajesh Agrawal said on Monday. The visit is likely to start on February 23. Earlier this month, India and the US released a joint statement to announce that a framework for an interim trade agreement has been finalised. "The joint statement lays down the contours of the deal. Now, the contours of the deal have to be translated into a legal agreement, which will be signed between the two sides," he told reporters here. Both sides are engaged in finalising that legal agreement, and virtual talks are going on for that. "Next week, (India's) chief negotiator Darpan Jain will be leading a delegation to the US to finalise the legal (pact) to work towards the legal agreement. That work will carry on next week in Washington and, if need be, thereafter in July and March," Agrawal said. Jain is the joint secretary in the

No govt links to man guilty of US citizen Pannun's murder plot, says India

In 2024, India's investigation into the US claims found that rogue operatives not authorized by the government had been involved in the murder plot

Rubio meets Orban in Budapest as US, Hungary plan civilian nuclear pact

US Secretary of State Marco Rubio was in the Hungarian capital on Monday for meetings with Prime Minister Viktor Orban and his government during which they plan to sign a civilian-nuclear cooperation agreement heralded by US President Donald Trump. Trump has been outspoken in his support for the nationalist Orban in the Hungarian leader's bid for reelection in two months. Orban and his Fidesz party are facing their most serious challenge in the April 12 vote since the right-wing populist retook power in 2010. The stop in Hungary's capital follows Rubio's visit to Slovakia on Sunday, after he previously attended the Munich Security Conference in Germany. Led by Euroskeptic populists who oppose support for Ukraine and vocally back Trump, Slovakia and Hungary represent friendly territory for Rubio as he pushes to shore up energy agreements with both Central European countries. Widely considered Russian President Vladimir Putin's most reliable advocate in the European Union, Orban has

Trump admin's top sanctions official set to leave after Bessent tension

Hurley's expected departure as Treasury's undersecretary for terrorism and financial intelligence follows months of internal tension over the tactics and targets of US sanctions policy

Got India's commitment to stop buying Russian oil: US Secretary of State

US Secretary of State Marco Rubio has said that India has committed to stop buying Russian oil, days after New Delhi reiterated that "national interests" will be the "guiding factor" for India's energy procurement. US President Donald Trump, while announcing a trade deal with New Delhi early in February, claimed India had agreed to not procure crude oil from Russia. Since then, the US has claimed multiple times that India will stop buying oil from Russia. Speaking at the Munich Security Conference on Saturday, Rubio said, "In our conversations with India, we've gotten their commitment to stop buying additional Russian oil." Rubio was responding to a question on the Russia-Ukraine war and the sanctions imposed on Moscow. After announcing the deal, in an executive order, Trump rolled back an additional 25 per cent tariffs on India that he imposed in August last for India's procurement of crude oil from Russia. Earlier, India had said that it would maintain multiple sources for crud

Anvita Group eyes global expansion with US residential community launch

Realty firm Anvitha Group is rapidly advancing towards a major global expansion by launching a 17-acre residential community in Dallas, US, and setting up its international corporate office there, company sources said on Sunday. The city-based group, which currently has projects spanning 10 million square feet under construction, said additionally, a large-scale project comprising 1,700 villas over 500 acres is in the pipeline in the US and announced plans to launch a new real estate project in Dubai later this year. Anvita currently serves 1,800 customers and has participated in several major projects in Dubai. The company employs 300 professionals directly and provides indirect employment to approximately 6,000 individuals, a press release from the company said. Over the next three years, the workforce is expected to grow to 1,000 employees, with indirect employment rising to 15,000. Company Director Vijay Raju expressed confidence that Anvita will soon establish itself as one o

CNH India to resume US tractor exports; invest ₹1,800 cr after tariff cut

Italian-American agriculture equipment firm CNH's India unit plans to resume full-scale tractor exports to the US and invest approximately Rs 1,800 crore over the next two to three years, capitalising on a recent India-US trade agreement that reduced tariffs on Indian goods to 18 per cent from as high as 50 per cent. The New Delhi-based subsidiary, which operates brands like New Holland and Case IH, halted most US-bound shipments late last year after higher duties made them unprofitable. Production for the US market was paused in the final months of 2025, except for limited-compact tractor models used for testing and customer trials. In an interview with PTI at its Pune plant site, CNH India President and Managing Director Narinder Mittal said the company has now given the green light to restart production and supplies. "With the US tariff now reduced to 18 per cent, we have immediately resumed full-fledged tractor exports from India to the US," Mittal said. "Volumes will be higher

Australia to spend $2.7 bn on shipyard for nuclear submarines under Aukus

Aukus is Australia's largest-ever defence investment and will see US-commanded Virginia-class submarines based in Australia from 2027

Dollar trade with US aligns with Russia's national currency policy: Kremlin

The trade with the US in dollars does not contradict Russia's principle policy of use of national currencies in foreign transactions, the Kremlin said Saturday. Russia switched to the use of national currencies in foreign trade after its USD and Euro accounts were frozen by the West following the outbreak of the 2022 conflict with Ukraine and has been pushing for a global de-dollarisation trend. In an interview to the state-run TASS news agency, the Kremlin spokesperson Dmitry Peskov pointed that the dollar is the national currency of the United States, so its use in transactions with Washington will not conflict with the principle of transitioning to national currencies. "In general, yes," the Kremlin spokesman agreed with the thesis about the dollar as the national currency in Russian-American trade and that its use will not fundamentally affect Russia's interactions with its current partners. Amid reports of bilateral negotiations to expand economic cooperation between Moscow an

German Chancellor calls for reset with US as old global order crumbles

Merz warned the US could not go it alone but also said Europe must beef up its own defences and mentioned confidential talks with France on nuclear deterrence

Goldman Sachs' lawyer Ruemmler resigns after ties with Epstein surfaces

Kathy Ruemmler, the top lawyer at storied investment bank Goldman Sachs and former White House counsel to President Barack Obama, has resigned, after emails between her and Jeffrey Epstein showed a close relationship where she described him as an "older brother" and downplayed his sex crimes. Up until her resignation on Thursday, Ruemmler repeatedly tried to distance herself from the emails and other correspondence and had been defiant that she would not resign from Goldman's top legal post, which she had held since 2020. While Ruemmler has called Epstein a "monster" in recent statements, she had a much different relationship with Epstein before he was arrested a second time for sex crimes in 2019 and later killed himself in a Manhattan jail. Ruemmler called Epstein "Uncle Jeffrey" in emails and said she adored him. In a statement before her resignation, a Goldman Sachs spokesperson said Ruemmler "regrets ever knowing him". During her time in private practice after she left the Whi

Trump admin reaches trade deal with Taiwan to cut tariffs, boost investment

The Trump administration has reached a trade deal with Taiwan, with Taiwan agreeing to remove or reduce 99 per cent of its tariff barriers, the office of the US Trade Representative said. The agreement comes as the US remains reliant on Taiwan for its production of computer chips, the exporting of which contributed to a trade imbalance of nearly USD 127 billion during the first 11 months of 2025, according to the Census Bureau. Taiwan's exports to the US will be taxed at a 15 per cent rate or the US government's "Most Favoured Nation" rate, the USTR's office said on Thursday. The 15 per cent rate is the same as that levied on other US trading partners in the Asia-Pacific region, such as Japan and South Korea. Trade Representative Jamieson Greer attended the signing of the reciprocal agreement, which occurred under the auspices of the American Institute in Taiwan and the Taipei Economic and Cultural Representative Office in the United States. Taiwan's Vice Premier Li-chiun Cheng and

US companies paid nearly 90% of 2025 tariff costs, says NY Fed study

Using data through November 2025, the study finds that about 94 per cent of the tariff costs were passed through to US firms and consumers in the first eight months of the year

Two injured after US warship collides with supply vessel in the Carribean

US President Donald Trump ordered a massive naval buildup in the Caribbean in recent months to support his campaign against drug traffickers in the region

Kremlin memo maps US-Russia economic ties, including dollar reset

At the heart of the offer is Russia's return to the dollar settlement system, a move which would mean a stunning reversal of Kremlin policy and, potentially, a dramatic shake up for global finance

Americans shouldered bulk of Trump tariff burden, says NY Fed report

The bank said 90 per cent of the tariffs imposed by the president on imported goods are borne by American consumers and companies

La Niña weakening, neutral Pacific conditions likely by April: US

The Pacific is expected to remain normal through summer in the Northern Hemisphere, according to the US Climate Prediction Center

US authorities announce an end to immigration crackdown in Minnesota

The immigration crackdown in Minnesota that led to mass detentions, protests and two deaths is coming to an end, border czar Tom Homan said Thursday. "As a result of our efforts here Minnesota is now less of a sanctuary state for criminals," Homan said at a news conference. "I have proposed and President Trump has concurred, that this surge operation conclude," he continued. US Immigration and Customs Enforcement launched Operation Metro Surge on December 1. Federal authorities say the sweeps focused on the Minneapolis-St Paul metro area have led to the arrest of more than 4,000 people. While the Trump administration has called those arrested "dangerous criminal illegal aliens," many people with no criminal records, including children and US citizens, have also been detained. Democratic Governor Tim Walz said Tuesday that he expected Operation Metro Surge to end in "days, not weeks and months," based on his conversations with senior Trump administration officials. He told reporter

US shelves major tech curbs on China after Trump-Xi trade detente

That meeting also included a pledge by the Chinese to delay painful export restrictions on the rare-earth minerals that underpin tech manufacturing globally

Welspun Q3FY26 profit nearly wiped out due to US tariff slowdown

Welspun's consolidated net profit came ‌in at 2.1 million rupees ($23,178.81) for the three-month period ended December 31, sharply down from 1.21 billion rupees in the year-ago period