Trump threatens with 250% tariff on Indian pharmaceuticals
Here’s a brief outlook on today’s key events and a recap of major business news headlines on Tuesday.
Today’s key events
- A surge in the stock market may be seen on Wednesday.
- There has been no change in petrol and diesel prices.
Wednesday’s big events
1. Trump’s threat to impose 250% tariff on Indian medicines
Trump says 40% of medicines in the US come from India which should have been made in America.
US President Donald Trump has threatened to impose a 250% tariff on India’s pharmaceutical products. In an interview with CNBC, Trump said he will initially impose a small tariff on pharmaceuticals, and then increase it to 150% and then to 250% in one- to one-and-a-half years.
Trump said- We want medicines to be made in our country. He believes that America is too dependent on foreign countries for pharma products, especially India and China. This tariff could have a negative impact on the Indian pharma sector.
2. Supreme Court cancels bail of former DHFL director: Dheeraj Wadhawan must surrender in 2 weeks, accused of ₹42,871 crore fraud
The Supreme Court on Tuesday (August 5) canceled the bail of Dheeraj Wadhawan, former director and promoter of Dewan Housing Finance Limited (DHFL). This decision was made in a major bank loan scam case, in which Dheeraj Wadhawan is accused of a fraud of ₹42,871.42 crore. The court has ordered him to surrender within two weeks.
Dheeraj Wadhawan was granted bail by the Delhi High Court on September 9, 2024, due to illness. The High Court had stated that Dheeraj falls under the category of a “sick person.” The CBI had appealed this decision in the Supreme Court.
3. Anil Ambani probed by ED: He was interrogated in the ₹17,000 crore money laundering and loan fraud case; a lookout notice was issued on August 1
The Enforcement Directorate (ED) interrogated Reliance Group Chairman and MD Anil Ambani on Tuesday (August 5). The financial investigation agency had issued a summons on August 1, asking him to appear at its Delhi office.
This interrogation was in connection with money laundering and loan fraud case involving Yes Bank, totaling ₹17,000 crore.
4. Chat-GPT focusing on users’ mental health: It reminds users to take breaks during long work hours; since its launch, people are asking some 2.5 billion questions daily
OpenAI has added new features related to mental health in its popular AI chatbot Chat-GPT. These features will remind you to take breaks during long work sessions.
This feature will suggest a prompt like ‘Is it the right time to take a break?’ after chatting for more than 30 minutes. Through these features, Chat-GPT aims to focus on the mental health of its 500 million weekly users and prevent overworking.
5. Oben Roar EZ Sigma Electric Bike Launched in India: It has a 175-km range on full charge with onboard navigation; price starts at ₹1.27 lakh
Bengaluru-based startup Oben Electric launched the new electric bike Roar EZ Sigma in the Indian market on Tuesday (August 5). The company has positioned it above the Roar EZ and below the Roar in its lineup. Its starting ex-showroom price is set at ₹1.27 lakh. The electric bike has been introduced in two variants. The company claims that the bike can run 175 kilometers on a full charge. It features a new TFT console and reverse mode.
6. Tata Harrier and Safari Adventure X variants launched: Level-2 ADAS feature for safety, price starts at ₹18.99 lakh
Tata Motors has launched the new Adventure X variants of its popular SUVs Harrier and Safari in India. The company has provided features from the top variants in these variants and has also reduced their prices. The company has currently revealed the prices of the manual transmission of both cars.
The starting price of the Harrier Adventure X variant is set at ₹18.99 lakh. Meanwhile, the starting price of the Safari Adventure X variant is ₹19.99 lakh. Tata has also discontinued some variants of both SUVs, making it easier for customers to choose the right variant.
Source: www.bhaskarenglish.in