President Donald Trump has hinted that tariffs on India may be reduced soon

The post President Donald Trump has hinted that tariffs com. President Donald Trump has hinted that tariffs on India may be reduced soon, as longtime loyalist Sergio Gor is sworn in to take up the office of ambassador in New Delhi. Trump said Gor’s top priority would be to promote investment in key U. S. industries and increase U. S. energy exports. President Trump said during Gor’s swearing-in ceremony on Monday that tariffs on India are high because they have been buying oil from Russia. He, however, added that the tariffs will be reduced soon since India has substantially decreased its imports of Russian crude oil. However, market research firm Kpler found that India’s imports of Russian oil remained almost the same at 1. 59 million barrels per day (mbd) in October and September. The tank tracker added that 1. 73 million barrels per day (mbd) of October Russian oil exports are heading to India so far. Another 302, 000 barrels per day (b/d) did not have a destination, but a portion of it could also be shipped to India. However, Kpler says it is still too early to get a clear picture for November. Trump hopes Gor will strengthen U. S.-India ties Trump said he is looking at Gor to strengthen the strategic partnership between the U. S. and India. He added that one of the U. S. ambassador’s top priorities would also be to expand security cooperation. The Senate confirmed Gor’s nomination as U. S. ambassador to India on October 7, and he arrived in New Delhi several days later. Gor met with Prime Minister Narendra Modi to discuss trade, defense, technology, and mineral resources. Alexandra Hermann of Oxford Economics believes a political ambassador (Gor) rather than a traditional diplomat is needed to speed things up. However, she noted that it also raises the risk that they could be less protected if the countries cut ties or if.

Dow Jones futures slip after Wall Street posts gains, US Supreme Court tariff case eyed

The post Dow Jones futures slip after Wall Street posts gains, US Supreme Court tariff case eyed appeared com. Dow Jones futures fall 0. 11% to trade below 47, 400 during European hours ahead of the opening of the United States (US) regular session on Thursday. Moreover, the S&P 500 futures and Nasdaq 100 declined by 0. 14% and 0. 24%, with trading around 6, 820 and 25, 700, respectively. US index futures struggle as traders adopt caution amid weakening odds of a Federal Reserve (Fed) rate cut in December. Fed funds futures traders are now pricing in a 62% chance of a cut in December, down from 68% a day ago, according to the CME FedWatch Tool. Additionally, the ongoing government shutdown is now the longest in US history; it continues to delay the release of key public data and increases risk aversion. The Wall Street posted moderate gains on Wednesday’s regular US session as traders returned to buy the dip. The Dow Jones advanced 0. 48%, the S&P 500 rose 0. 37% and the Nasdaq 100 gained 0. 65%. US stocks received support as market sentiment improved following stronger-than-expected private payroll data. ADP Employment Change climbed by 42, 000 in October, compared to the 29, 000 decrease (revised from -32, 000) seen in September. AI-related stocks rebounded after earlier pressure from valuation concerns. Semiconductor giant Advanced Micro Devices (AMD) reported stronger-than-expected third-quarter earnings, closing up about 2. 5%, while Micron Technology and Broadcom advanced 8. 9% and 2%, respectively. Market sentiment also improved amid expectations that the US Supreme Court may rule against the Trump administration’s aggressive trade actions under the International Emergency Economic Powers Act (IEEPA). Several justices voiced doubts over the President’s authority to impose sweeping tariffs without Congressional approval. Dow Jones FAQs The Dow Jones Industrial Average, one of the oldest stock market indices in the world, is compiled of the 30 most traded stocks in the US. The index is price-weighted rather than weighted by capitalization. It.