US President Donald Trump imposed a crushing 50% tariff on Indian goods to punish the country for buying Russian oil, upending a decades-long push by Washington to forge closer ties with New Delhi. The new tariffs, the highest in Asia, took effect at 12:01 a.m. in Washington on Wednesday, doubling the existing 25% duty on Indian exports. The levies will hit more than 55% of goods shipped to the US — India’s biggest market — and hurt labor-intensive industries like textiles and jewelry the most. Key exports like electronics and pharmaceuticals are exempt, sparing Apple’s massive new factory investments in India for now. In other news, the Trump administration is reviewing options for exerting more influence over the Federal Reserve’s 12 regional banks that would potentially extend its reach beyond personnel appointments in Washington, according to people familiar with the matter. It follows Trump’s move to oust Fed Governor Lisa Cook.
Today’s guests: Maya Bhandari, Neuberger Berman CIO for Multi-Asset EMEA, Shumita Deveshwar, TS Lombard Chief India Economist, Alan Siow, Ninety One Emerging Markets Corporate Debt Co-Head
"The Pulse With Francine Lacqua" is all about conversations with high profile guests in the beating heart of global business, economics, finance and politics. Based in London, we go wherever the story is, bringing you exclusive interviews and market-moving scoops.
Chapters:
00:00:00 – The Pulse
00:03:34 – Lisa Cook Prepares Legal Challenge Against Trump Move
00:07:40 – Nvidia Will Put the Frenzy in AI Stocks to Test
00:13:49 – Maya Bhandari, Neuberger Berman Multi-Asset EMEA CIO
00:18:47 – Shumita Deveshwar, TS Lombard Chief India Economist
00:20:38 – US-India Trade Ties Sour Over Russian Oil
00:24:48 – France in Political Crisis
00:26:47 – Bayrou Calls for Confidence Vote
00:29:53 – Alan Siow, Ninety One Emerging Markets Corporate Debt Co-Head
00:32:56 – Trump’s 50% Tariffs on India Takes Effect
00:38:21 – China’s XI on Anti-Corruption Campaign
00:42:11 – Finding a Cooler Commute During the Heat
00:46:37 – Taylor Swift Announces her Engagement
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