Bloomberg Daybreak: US Edition Trump Vows to Ramp Up India Tariffs; Texas Governor Orders Arrest of Democrats
10 snips
Aug 5, 2025 President Trump plans to significantly raise tariffs on Indian exports due to the country’s purchases of Russian oil, leading to tensions between the U.S. and India. In Texas, Governor Abbott orders the arrest of Democratic lawmakers who fled to block controversial voting. Meanwhile, Palantir Technologies boasts a remarkable 48% revenue growth fueled by advances in artificial intelligence. The podcast also touches on ongoing political maneuvering and the broader implications for trade and international relations.
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Trump Uses Tariffs for Foreign Policy
- President Trump plans to raise tariffs on Indian exports due to its purchases of Russian oil, pressuring India in trade negotiations.
- He uses tariffs as a tool to drive his foreign policy, including efforts to end the war in Ukraine.
India-US Trade Relations Strain
- India's relationship with the U.S. has become strained due to Trump's pressure over tariffs and Russian oil purchases.
- The Modi government remains defiant and continues buying Russian oil amid unclear prospects for resolution.
Inconsistent US Tariff Application
- The U.S. applies tariffs inconsistently, targeting India for Russian oil purchases while China, which buys more, remains on tariff pause.
- Both India and China continue to purchase sanctioned Russian and Iranian oil, but only India faces tariff threats.