BUSINESS LINE : The Global South is losing faith in the dollar. Why? The US slaps tariffs on friends and foes. The White House tries to bully its own central bank. Debt keeps rising. Sanctions turn the greenback into a weapon. Rising competition with China and broken security pacts with the Middle East fuel mistrust.
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July 07 WHAT? U.S. President Donald Trump has threatened to impose an additional 10% tariff on countries aligning with what he describes as the "anti-American policies" of the BRICS nations. This statement, made via a post on Truth Social on July 6, 2025, comes amid the ongoing 17th BRICS Summit in Rio de Janeiro, Brazil, and signals heightened trade tensions. Key Details Tariff Threat: Trump stated, "Any Country aligning themselves with the Anti-American policies of BRICS, will be charged an...
June 29 WHAT? The US remittances tax refers to a proposed excise tax on international money transfers (remittances) sent by individuals who are not US citizens or nationals. This measure is part of the "One Big Beautiful Bill," a fiscal package introduced by House Republicans and endorsed by President Donald Trump, aimed at extending the 2017 Tax Cuts and Jobs Act, increasing the standard deduction, and funding border security initiatives. As of June 29, 2025, the tax rate has been adjusted from an initial 5%...
June 20
June 14 SUMMARY The article from The Economic Times, dated June 14, 2025, titled "Trump's earnings: $57 million in crypto, $217 million from Florida golf clubs," details U.S. President Donald Trump’s income as reported in a public financial disclosure released by the U.S. Office of Government Ethics on June 13, 2025. Key points Total Income: Trump earned over $600 million in 2024 from various business ventures, including cryptocurrency, golf resorts, and licensing deals. Crypto Earnings:...
June 08 SUMMARY The article from Business Standard, published on June 8, 2025, titled "Los Angeles: Anti-immigration protests, ICE raids, National Guard, Trump," details escalating tensions in Los Angeles following U.S. Immigration and Customs Enforcement (ICE) raids. Key points ICE Raids and Arrests: On June 6-7, 2025, ICE conducted raids across Los Angeles, targeting businesses like Home Depot stores, a doughnut shop, and a clothing warehouse, arresting 118 immigrants, including five linked to...
June 06 SUMMARY The article from The Hindu BusinessLine, published on June 6, 2025, titled "US markets are no longer safe for investments, Carmignac says," reports concerns raised by Raphael Gallardo, chief economist at French asset manager Carmignac, about the U.S. as an investment destination. KEY POINTS Trump’s Tax and Spending Bill: Gallardo warns that President Donald Trump’s tax and spending bill, particularly Section 899 (dubbed the “revenge tax”), increases tax...
June 04 SUMMARY Former U.S. President Donald Trump's proposed "$5 million Gold Card" visa program aims to offer permanent U.S. residency to foreign nationals who invest $5 million, positioning it as a replacement for the existing EB-5 investor visa. This initiative is expected to appeal to wealthy Indian investors, offering benefits like immediate residency, flexible tax options, and no job creation requirements. However, legal experts caution that implementing such a program would require...
May 30 SUMMARY The U.S. House of Representatives has passed the "One Big Beautiful Bill," which includes a 3.5% tax on international remittances sent by non-citizens, such as H-1B visa holders and green card holders. This tax is expected to take effect in 2026, pending Senate approval. The proposed U.S. remittance tax and reciprocal tariffs are poised to significantly impact India's economy, potentially resulting in billions of dollars in lost investments. Key Points Impact on India:...
May 26 SUMMARY Elon Musk's political involvement, particularly his leadership of the Department of Government Efficiency (DOGE), has been linked to a significant decline in Tesla's brand reputation and sales, according to marketing professor Scott Galloway. Galloway described Musk's political alliances as "cosying up to the wrong people," leading to "one of the greatest brand destructions" ever. Galloway highlighted that Musk's alignment with political figures and increased political...
May 18
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