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Trump plans 100% tariff on computer chips, unless companies build in US

WASHINGTON, August 7, 2025 (AP) — President Donald Trump said Wednesday that he will impose a 100% tariff on computer chips, raising the specter of higher prices for electronics, autos, household appliances and other essential products dependent on the processors powering the digital age. “We’ll be putting a tariff of approximately 100% on chips and semiconductors,” Trump said in the Oval Office while meeting with Apple CEO Tim Cook. “But if you’re building in the United States of America, there’s no charge.” The announcement came more than three months after Trump temporarily exempted most electronics from his administration’s most onerous

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

WASHINGTON, August 7, 2025 (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%. 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

What is chikungunya, the virus now spreading in southern China?

LONDON, August 6, 2025 (AP) — Chinese authorities have taken measures this week to try to curb the spread of chikungunya, a virus that often causes fever and joint pain. As of Wednesday, the government reported there had been more than 7,000 cases, mostly in the southern manufacturing hub of Foshan. Here’s what to know about chikungunya: What is chikungunya? Chikungunya is a disease caused by a virus of the same name. The chikungunya virus was first identified in people sickened during an outbreak in Tanzania in 1952. Its name is derived from a word in the Makonde language, which

RBI issues final co-lending framework effective January 2026

MUMBAI, Aug 6 (Reuters) – The RBI (Reserve Bank of India) published final rules for co-lending arrangements between banks and non-bank financial firms on Wednesday, expanding the scope of such partnerships beyond priority sector lending and introducing tighter norms. The framework, effective January 1, 2026, mandates that the lender retain at least 10% of individual loan exposures on its books and clearly disclose roles and responsibilities to borrowers. The move aims to provide regulatory clarity and strengthen risk-sharing mechanisms in joint lending portfolios, the Reserve Bank of India said. Partner lenders are also bound to reflect their share of loans

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