Trump to put additional 25% import taxes on India, bringing combined tariffs to 50%

posted in: All news | 0

By JOSH BOAK, Associated Press

WASHINGTON (AP) — President Donald Trump signed an executive order Wednesday to place an additional 25% tariff on India for its purchases of Russian oil, bringing the combined tariffs imposed by the United States on its ally to 50%.

Related Articles


College applications rise outside US as Trump cracks down on international students


Protections of the Voting Rights Act are under threat as the law marks its 60th anniversary


Trump envoy Witkoff meets Putin ahead of Russia-Ukraine peace deadline, the Kremlin says


Toppled Confederate statue in DC to be replaced in line with Trump’s executive order


Michigan Gov. Whitmer makes another White House visit to meet with Trump

The tariffs would go into effect 21 days after the signing of the order, meaning that both India and Russia might have time to negotiate with the administration on the import taxes.

Trump’s moves could scramble the economic trajectory of India, which until recently was seen as an alternative to China by American companies looking to relocate their manufacturing. China also buys oil from Russia, but it was not included in the order signed by the Republican president.

As part of a negotiating period with Beijing, Trump has placed 30% tariffs on goods from China, a rate that is smaller than the combined import taxes with which he has threatened New Delhi.

Trump had previewed for reporters on Tuesday that the tariffs would be coming, saying the U.S. had a meeting with Russia on Wednesday as the Trump administration tries to end the war in Ukraine.

“We’re going to see what happens,” Trump said about his tariff plans. “We’ll make that determination at that time.”

In 2024, the U.S. ran a $45.8 billion trade deficit in goods with India, meaning it imported more than it exported, according to the U.S. Census Bureau.

At a population exceeding 1.4 billion people, India is the world’s largest country and represented a way for the U.S. to counter China’s influence in Asia. But India has not supported the Ukraine-related sanctions by the U.S. and its allies on Moscow even as India’s leaders have maintained that they want peace.

The U.S. and China are currently in negotiations on trade, with Washington imposing a 30% tariff on Chinese goods and facing a 10% retaliatory tax from Beijing on American products.

Wall Street holds steady following mixed profit reports from McDonald’s, Disney and Shopify

posted in: All news | 0

By STAN CHOE, Associated Press Business Writers

NEW YORK (AP) — Wall Street is holding relatively steady on Wednesday following a mixed set of profit reports from such giants as McDonald’s and The Walt Disney Co.

The S&P 500 was up 0.2% in morning trading. The Dow Jones Industrial Average was down 20 points, or less than 0.1%, as of 10:35 a.m. Eastern time, and the Nasdaq composite was 0.3% higher.

Related Articles


New study sheds light on ChatGPT’s alarming interactions with teens


Many Delaware beachgoers feel the sting of a blooming jellyfish population


Disney’s 3Q profit climbs on strength of domestic parks, streaming; strikes deal with WWE


Judge considers whether Florida’s ‘Alligator Alcatraz’ detention center violates environmental law


Oregon man accused of killing 3 women and dumping their bodies is indicted on fourth murder charge

McDonald’s and Shopify rose following their profit reports, while Super Micro Computer tumbled after its earnings and revenue for the latest quarter came in below analysts’ expectations. Disney fell after its earnings beat forecasts but its revenue fell short

The mixed trading continues a cooldown for the U.S. stock market after it swung from its worst day since May on Friday to its best since May on Monday. Worries are high that President Donald Trump’s tariffs may be hurting the economy, but hopes for coming cuts to interest rates by the Federal Reserve and a parade of stronger-than-expected profit reports from U.S. companies have helped steady the market.

McDonald’s climbed 2.6% after the restaurant chain reported stronger profit and revenue for the spring than analysts expected. Its U.S. restaurants benefited from customers paying more at each of their visits, while a meal tied to the “Minecraft” movie proved to be a hit.

Shopify jumped 20.2% after the company, which helps businesses sell on the internet, said it made more in revenue last quarter than expected. Analysts also said the company’s forecast for revenue in the current quarter suggests the strong trends are continuing.

Arista Networks was one of the strongest forces lifting the S&P 500 and leaped 16.8% after the networking company delivered a bigger profit for the latest quarter than expected. Its forecast for revenue in the current quarter also topped forecasts.

They helped offset a 20% drop for Super Micro Computer, which gave back some of the huge gains the server maker has made recently. Super Micro came into the day with a nearly 88% gain for its stock so far this year, but it reported weaker profit and revenue for the latest quarter than analysts expected. It also gave a forecast for profit in the current quarter that fell short of what Wall Street had penciled in.

Disney dropped 3.4% after its profit beat forecasts but its revenue fell short. Analysts said investors may have been looking for Disney to boost its profit forecast by a bigger amount.

The NFL also announced that it had entered into a nonbinding agreement with Disney’s ESPN, which will give the sports broadcaster the NFL Network, NFL Fantasy and the rights to distribute the RedZone channel. The NFL will get a 10% stake in ESPN in the proposed deal.

Chip company Advanced Micro Devices fell 7.9% after its profit for the latest quarter only matched analysts’ expectations. Analysts said the company’s financial forecasts for upcoming results also looked solid, but that may not have been enough for investors after its stock had already soared 44.3% for the year so far coming into the day.

Companies are under pressure to deliver bigger profits in order to justify the big gains their stock prices have made since the U.S. market hit a low point in April. The S&P 500 is just a bit below its record, which was set late last month, and the big rally fueled criticism that the broad market has become too expensive.

In the bond market, Treasury yields also held relatively steady.

The yield on the 10-year Treasury edged down to 4.21% from 4.22% late Tuesday. It’s well below where it was last week, before Friday’s much weaker-than-expected report on the U.S. job market ignited worries that Trump’s tariffs are pushing employers to hold back on hiring.

That report has traders on Wall Street betting heavily that the Federal Reserve will need to cut interest rates at its next meeting in September. Such cuts can give the economy and investments prices a boost, but they also can push inflation higher.

In stock markets abroad, indexes rose modestly across much of Europe and Asia.

AP Business Writers Yuri Kageyama and Matt Ott contributed.

College applications rise outside US as Trump cracks down on international students

posted in: All news | 0

By SYLVIA HUI, Associated Press

LONDON (AP) — In China, wait times for U.S. visa interviews are so long that some students have given up. Universities in Hong Kong are fielding transfer inquiries from foreign students in the U.S., and international applications for British undergraduate programs have surged.

President Donald Trump’s administration has been pressuring U.S. colleges to reduce their dependence on international enrollment while adding new layers of scrutiny for foreign students as part of its crackdown on immigration.

Related Articles


China tackles chikungunya virus outbreak with wide range of measures as thousands fall ill


Wife of South Korea’s ousted ex-President Yoon appears for questioning over corruption allegations


Hiroshima marks 80 years since atomic bombing as aging survivors worry about growing nuke threat


Trump envoy Witkoff meets Putin ahead of Russia-Ukraine peace deadline, the Kremlin says


Today in History: August 6, the atomic bombing of Hiroshima

The U.S. government has sought to deport foreign students for participating in pro-Palestinian activism. In the spring, it abruptly revoked the legal status of thousands of international students, including some whose only brush with law enforcement was a traffic ticket. After reversing course, the government paused new appointments for student visas while rolling out a process for screening applicants’ social media accounts.

The U.S. remains the first choice for many international students, but institutions elsewhere are recognizing opportunity in the upheaval, and applicants are considering destinations they might have otherwise overlooked. The impact on U.S. universities — and the nation’s economy — may be significant.

New international enrollment in the U.S. could drop by 30% to 40% this fall, according to an analysis of visa and enrollment data by NAFSA, an agency that promotes international education.

That would deprive the U.S. economy of $7 billion in spending, according to the analysis. Many international students pay full price, so their absence would also hurt college budgets.

Britain stands to gain as the US takes ‘a massive hit’

As the second most popular destination for international students, Britain is positioned to benefit.

The country’s new Labour government has vowed to cut migration, and officials have imposed time limits on post-study visas allowing graduates to stay and work. But admissions consultants say the United Kingdom is still seen as the most welcoming of the traditional “big four” English-speaking destinations in higher education — the U.S., U.K., Canada and Australia.

After declining last year, the number of international applications for undergraduate study in the U.K. this fall grew by 2.2%, official figures show. A record number of applications came from China, up 10% compared with the previous year. Applications from the U.S. also reached nearly 8,000 students — an increase of 14% and a 20-year high.

Acceptances of international students for graduate programs in the U.K. grew an estimated 10% from last year, driven by demand for business and management courses in particular, according to data from UniQuest, which works with many British universities on admissions.

Data showing the extent of any impact will not be available until fall, said Mike Henniger, CEO of Illume Student Advisory Services, a consultancy that works with colleges in the U.S., Canada and Europe. “But the American brand has taken a massive hit, and the U.K. is the one that is benefiting,” he said.

Staying in Asia is becoming more popular

Demand from Chinese students has risen rapidly for universities places in Hong Kong, Singapore and Malaysia, said Will Kwong, managing director of AAS Education, a consultancy in Hong Kong. Many Western universities have offshore campuses there that are more affordable than going to the U.S. or U.K.

“Opting for study in Asia has been a trend since the easing of COVID-19,” Kwong said. “But obviously it’s been exacerbated by the change of administration in the U.S.”

Some Asian families have told him the U.S. is no longer their clear first choice because of political turbulence and visa difficulties, many are still waiting for U.S. visa interviews and will likely miss the start of the fall term, Kwong said.

Chinese college student Alisa, who is studying data science, plans to attend an exchange program this fall at the University of California, Berkeley. She hopes to pursue a master’s degree in the U.S.

But she is also looking into other options “just so I could still go to school if the extreme scenario occurs,” said Alisa, who spoke on condition of partial anonymity out of fear of being targeted.

Hong Kong will welcome any students who are denied entry to the U.S., the city’s leader John Lee has said. Last year, the Chinese territory decided to allow international students to work part-time.

Hong Kong University said it has received over 500 inquiries from students in the U.S. and is processing around 200 applications for transfer. At another school, the Hong Kong University of Science and Technology, international undergraduate applications have surged by 40% from last year, said Alison Lloyd, associate provost on institutional data and research.

Upheaval could be a boon for countries with satellite campuses

Countries including the United Arab Emirates have invested heavily in attracting international students by partnering with universities elsewhere to host branch campuses. These arrangements could appeal to students who fear being denied access to the U.S.

Dubai, which has designs on becoming a global education hub, hosts dozens of international institutions’ satellite campuses. It saw international student numbers grow by a third in 2024-2025.

FILE – An Emirati student arrives at the building of the University of Wollongong in Dubai, United Arab Emirates, Dec. 28, 2009. (AP Photo/Kamran Jebreili, File)

Lisa Johnson, principal of Dubai’s private American Academy for Girls, said her mostly Emirati student body is increasingly looking away from the U.S. for college.

“Every student wants and dreams to go to Harvard,” she said. “But as college options increase in the United Arab Emirates, more and more students are staying.”

Kazakhstan has similar ambitions, said Daniel Palm, who has helped U.S. universities set up campuses abroad. Illinois Tech and the University of Arizona are among colleges offering degree programs in the Central Asian country, drawing students mostly from China and Russia.

“All of a sudden U.S. colleges are asking how to provide diversity, provide access,” Palm said, “because you have students who want to come to the U.S. and can’t.”

Associated Press writers Kanis Leung in Hong Kong; Albee Zhang in Washington, D.C.; and Gabe Levin in Dubai contributed.

The top 10 island destinations for 2025, from Aruba to Sardinia

posted in: All news | 0

The golden sand, waving palms and hopefully a tropical drink with way too many fruits and liquors in it – it’s hard to beat an island vacation.

Related Articles


Shaq shines in role as ‘Chief Fun Officer’ at Carnival Cruise Line’s new Bahamas resort


Why I decided to visit Portugal, and why ‘everyone’ is moving there


State Department may require visa applicants to post bond of up to $15,000 to enter the US


Female tour guides in Afghanistan lead women-only groups as some travelers return


What are America’s best cities for sober traveling?

But with several hundred thousand islands in the world, where should you go? The travel-technology company Expedia has some suggestions in its new “Island Hot List” for 2025.

Using travelers’ criteria on affordable prices, good flight access, standout accommodations and tourism appeal, the company chose 10 island escapes worth your time and money. It also provided the strongest argument for each destination. Aruba ranks best for unbeatable sunny weather, for instance, and the Dominican Republic ranks highly for adventure potential.

Writes Expedia: “These destinations go beyond the postcard – embracing sustainability, authenticity and cultural richness.”

The Expedia Island Hot List 2025

1 Aruba: best for year-round sunshine

2 Bali, Indonesia: best for relaxation

3 Dominican Republic: best for adventure

4 Fiji: best for community

5 Jamaica: best for culture

6 Koh Samui, Thailand: best for affordable luxury

A beach scene from Meedhupparu in the Maldives. (Dreamstime/TNS)

7 Maldives: best for romance

8 Oahu, Hawaii: best for surfing

9 Paros, Greece: best for nightlife

10 Sardinia, Italy: best for food lovers

Source: www.expedia.com/see/islandhotlist