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      Trump’s Tariff Threat for Drug imports Poses Big Political Risks

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      Levies on Americans’ daily prescriptions and other medicines could raise costs, spur rationing and lead to shortages of critical drugs.President Trump’s decision to move a step closer to imposing tariffs on imported medicines poses considerable political risk, because Americans could face higher prices and more shortages of critical drugs.The Trump administration filed a federal notice on Monday saying that it had begun an investigation into whether imports of medicines and pharmaceutical ingredients threaten America’s national security, an effort to lay the groundwork for possible tariffs on foreign-made drugs.Mr. Trump has repeatedly said he planned to impose such levies, to shift overseas production of medicines back to the United States. Experts said that tariffs were unlikely to achieve that goal: Moving manufacturing would be hugely expensive and would take years.It was not clear how long the investigation would last or when the planned tariffs might go into effect. Mr. Trump started the inquiry under a legal authority known as Section 232 that he has used for other industries like cars and lumber.Mr. Trump said in remarks to reporters on Monday that pharmaceutical tariffs would come in the “not too distant future.”“We don’t make our own drugs anymore,” Mr. Trump said. “The drug companies are in Ireland, and they’re in lots of other places, China.”We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Apple Plunges 9 Percent, Leading a Tech Sell-Off

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      Apple led a sell-off of tech stocks on Thursday, falling about 9 percent. Its drop was one of its steepest intraday declines since early 2019, when the company plunged 10 percent after it warned that iPhone sales in China would fall short of its expectations at the time.Wall Street analysts who follow the company have been looking for signs that Apple will be granted a tariff exemption by the White House, as it did when the Trump administration began its previous round of tariffs in 2018. But after President Trump’s news conference yesterday, there was no indication that Apple would receive any relief.As a result, many analysts were scrambling to update their forecasts on Apple’s profits. The company counts on the sale of devices for three-quarters of its nearly $400 billion in annual revenue, and it makes almost all of its iPhones, iPads and Macs overseas.The investment bank TD Cowen estimates that every 10 percent of tariffs on a product imported from China, India or Vietnam — where Apple does most of its manufacturing — would reduce the company’s profit by more than 3.5 percent. The Wall Street advisory said Apple could offset that profit decline with a 6 percent price increase for every 10 percent of tariff. Given that China is being hit with 54 percent tariffs and that it makes 90 percent of the world’s iPhones, the price of most $1,000 iPhones would jump to about $1,300. More

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      Roy L. Prosterman, 89, Dies; Worked to Secure Land for the Rural Poor

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      Seeing land rights as the key to lifting up the impoverished, he pushed authoritarian governments as well as emerging democratic ones to distribute farmland.Roy L. Prosterman, a lawyer who left a lucrative corporate law practice to champion land reform in the underdeveloped world, died on Feb. 27 at his home in Seattle. He was 89.His death was announced by the Seattle land-rights institute Landesa, of which he was a founder. The organization did not specify a cause.Mr. Prosterman worked with governments in some 60 countries in Asia, Africa and Latin America over nearly six decades, crafting plans to give a degree of ownership to peasant families. Sometimes the governments he worked with obtained land by expropriating large tracts, with compensation to the owners. At other times, the government simply gave away land it owned.Seeing land rights as the key to lifting up the world’s millions of rural poor people, he pushed authoritarian governments in places like Vietnam and El Salvador, as well as emerging democratic ones in countries like India, to distribute farmland to impoverished farmers.Mr. Prosterman, center, conducting interviews in China in an undated photo. Beside him is Tim Hanstad, his longtime colleague and a co-founder of Landesa.via LandesaIn an obituary, Landesa said that millions of people had benefited from the programs created by Mr. Prosterman and his group. Landesa, which was founded in 1981 as the Rural Development Institute at the University of Washington and became an independent organization in 1992, was “an early, and often lonely, voice recognizing the importance that access to land and security of land has in uplifting the lives of the poor in agrarian economies,” the Nobel-winning economist Joseph Stiglitz wrote in the preface to “One Billion Rising: Law, Land and the Alleviation of Global Poverty” (2009), a book edited and partly written by Mr. Prosterman.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

    • 175 Shares179 Views

      in UK Politics

      Modi lands in Mauritius to back sovereignty claim over Chagos and boost maritime security

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      Your support helps us to tell the storyFrom reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it’s investigating the financials of Elon Musk’s pro-Trump PAC or producing our latest documentary, ‘The A Word’, which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.Your support makes all the difference.Read moreNarendra Modi was set to support Mauritius in its dispute with Britain over the Chagos archipelago as India’s prime minister arrived in the Indian Ocean nation to a grand welcome on Tuesday. Mr Modi was received in the strategically located maritime neighbour by prime minister Navinchandra Ramgoolam and was scheduled to meet president Dharam Gokhool.The Indian leader was expected to attend National Day celebrations in the capital Port Louis on 12 March as the chief guest. A contingent of the Indian military and a naval ship were set to participate in the event as well.India’s foreign ministry said the prime minister would discuss the Chagos dispute and reaffirm Delhi’s longstanding support for Mauritius’ sovereignty over the islands.“We have continued to support Mauritius and will continue to do so,” foreign secretary Vikram Misri told reporters in New Delhi. “I would imagine that during the visit there will be an opportunity perhaps for the Mauritius side to update us on any issues that might still be outstanding if there are any issues by that time.”The Chagos archipelago, part of the British Indian Ocean Territory, is a group of seven atolls comprising over 60 islands. One of the atolls, Diego Garcia, is operated by the US as a forward operating base for its forces in the Middle East, Africa, and the Asia-Pacific, making it a key strategic hub.Mauritius gained independence in 1968, but the UK kept control of the Chagos islands and forcibly displaced an estimated 2,000 native people to establish the Diego Garcia base, which was leased to the US.India sees Mauritius as a key ally in countering China’s ever-growing influence in the Indian Ocean and enhancing regional security.Narendra Modi receives a guard of honour in Mauritius More

    • 163 Shares169 Views

      in Elections

      Zakia Jafri, Who Sought Justice for Victims of Indian Riots, Dies at 86

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      For two decades, she waged a legal battle against government officials in India after her husband was brutally killed in Gujarati in 2002.Zakia Jafri, who turned her personal loss into an uphill campaign for justice after her husband, Ehsan Jafri, was brutally murdered during sectarian riots in the state of Gujarat in 2002, died on Feb. 2 at her daughter’s home in Ahmedabad, India. She was 86.Her death was confirmed by her son Tanveer Jafri.More than 1,000 people, a majority of them Muslim, died in the riots that gripped Gujarat, on the western coast of India, in 2002. They began on Feb. 27, when a fire killed nearly 60 people on a train carrying Hindu pilgrims to Godhra, a town in Gujarat. The cause of the fire was disputed. However, as rumors spread that Muslims were responsible, mobs erupted across large parts of Gujarat, attacking Muslim homes and businesses, and killing people by hacking and burning them to death. Among those killed was Ms. Jafri’s husband, who was a union leader, a lawyer and a former member of Parliament.In a legal battle that dragged on for nearly two decades, Ms. Jafri accused Narendra Modi, India’s current prime minister, who at the time was the leader of Gujarat, of “conspiracy and abetment” in the riots.In all that time, “she remained stoic, despairing, yet hopeful,” Teesta Setalvad, a human-rights activist, said in an interview. “For me, for us, she was the mother of all the survivors of 2002, carrying the burden of her pain and loss with dignity and fortitude and always giving us strength.”A scene from the riots in Ahmedabad, in the western Indian state of Gujarat, in 2002.Arko Datta/ReutersZakia Naseem Fidahusain Bandookwala was born on Jan. 15, 1939, in Rustampur, a village in the central Indian state of Madhya Pradesh. She was one of six children of Fidahusain Fakhrali Bandukwala and Amtubai Fidahusain Bandukwala, wealthy farmers. She moved to Ahmedabad, in the western state of Gujarat, after marrying Mr. Jafri in 1962.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

    • 150 Shares149 Views

      in US Politics

      Modi heads to US in mission to dodge a tit-for-tat tariff battle

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      The Indian prime minister, Narendra Modi, is heading to Washington for high-stakes talks in an attempt to avoid a trade war with Donald Trump.India is considering tariff cuts in at least a dozen sectors in the hope of dodging US tariffs that would pile more pressure on its already slowing economy.Wednesday’s meeting will test the much-hyped “bromance” between Trump and Modi, in which they exchanged bear hugs and effusive compliments during the president’s first term. Trump has called Modi “the nicest human being”, while the Indian prime minister has referred to the president as his “dear friend.” Both are populists who rose to power on waves of anti-establishment ardour and nationalism.The Indian foreign secretary, Vikram Misri, told reporters that the fact the prime minister had been invited to visit the US “within barely three weeks of the new administration taking office, shows the importance of the India-US partnership”.Trump has not held back his frustration over India’s high tariffs, labelling the country a “very big abuser” and accusing it of blocking US imports.Modi’s two-day visit comes shortly after Trump announced a 25% tariff on global steel and aluminium imports into the US. Calling the tariffs “the first of many”, the president indicated there could be levies on cars, chemicals, pharmaceuticals and other goods. He is planning a system of “reciprocal tariffs”, saying: “If they charge us, we charge them.”The metal tariffs have rattled India’s steel and aluminium industries, which export good worth billions of dollars to the US each year. The Indian Steel Association said on Tuesday the steel tariff was “expected to slash exports to the US by 85%”.In an effort to pre-empt punitive trade action, in its budget last week the Indian government cut duties on a range of goods, including high-end motorcycles such as Harley-Davidsons. It is also considering tariff cuts on other products, including electronics, medical and surgical equipment, chemicals, dish antennae and wood pulp, many of which originate in the US.Bilateral trade has been growing steadily, surpassing $118bn (£95bn) in the last financial year, with India running a $32bn trade surplus. Trump says he wants a relationship that is more “fair” while India says it is open to discussing a limited trade deal to address US concerns about market access.Trump has urged Modi to buy more US defence and energy products, with India presenting a lucrative market as the world’s largest arms importer. Nuclear energy, including small and modular reactors, is also on the agenda, as India seeks to expand its clean energy sources to meet decarbonisation targets. Reports suggest India is already in talks to buy combat vehicles and finalise a fighter jet engine deal.Another significant issue is Trump’s crackdown on illegal migration. The president says Modi has assured him India “will do what’s right” on the matter.The US last week deported 104 Indian migrants and plans to return many more. Images of deportees in shackles during a 42-hour military flight prompted public anger in India, with a senior Indian government official responding that “this kind of treatment can perhaps be avoided”. Discussions are expected to focus on managing the return of hundreds of other Indian nationals to be deported.Modi will also push for expanding H-1B visas, which are vital for the Indian IT workforce in the US. Importantly for Modi, Trump has expressed support for the H-1B visa programme, which brings skilled foreign workers to the tech sector. Elon Musk has backed the H-1B visa scheme, saying it drives innovation but, highlighting the ideological divide among key figures in Trump’s orbit, Steve Bannon and other Maga voices argue that H-1B visas siphon jobs and undermine American workers.Modi has framed his visit as an opportunity to build on the successes of the US-India partnership, in particular in technology, defence, energy, and supply chains. But his immediate mission is to keep trade relations from spiralling into a damaging tit-for-tat tariff battle. More

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      in Elections

      Dozens of Maoist Guerrillas Killed in Central India, Officials Say

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      Rebels known as Naxalites have waged an insurgency that has ebbed and flowed over decades, but government operations have given them less space to maneuver.Dozens of Maoist guerrillas were killed in central India by government forces on Sunday, one of the deadliest operations in recent years against leftist rebels who have waged an insurgency that has ebbed and flowed over several decades.The operation, in the forested Bijapur area in the state of Chhattisgarh, was carried out against the so-called Naxalite movement, and left 31 rebels dead, along with two members of the police forces, according to the area’s police chief, Jitendra Kumar Yadav.Chief Yadav said the authorities had also recovered a number of AK-47 assault weapons and several other automatic rifles after the clashes.“We will completely eradicate Naxalism from the country, so that no citizen of the country has to lose his life because of it,” said Amit Shah, India’s home minister, referring to the left-wing insurgency.The Maoist insurgency began in eastern India in the 1960s and spread widely in central and southern parts of the country.The violence peaked in 2010, when more than 600 civilians and over 250 security forces were killed in the conflict.In recent years, civilian deaths have dwindled, after government operations shrunk the space for the insurgents to operate. The insurgency’s leadership has also struggled, analysts say, in the face of targeted operations, old age and illness.The Home Ministry told Parliament last year that the threat of leftist extremism had dropped significantly in recent years, in terms of the number of deaths as well as the amount of affected territory.Deaths of civilians and security forces related to the insurgency in 2023 were 86 percent lower than at their peak in 2010, the ministry said, adding that the number of districts affected by the violence had shrunk to 38 from 126.Niranjan Sahoo, who studies left-wing extremism at the Observer Research Foundation, an Indian think tank, said the Maoists were struggling to recruit members, among other problems.He also said they were concentrating their activities in several districts around the Abujhmad forest, including Bijapur, after suffering losses over the years.“The Maoists are at their weakest point, largely because they have lost a lot of their territory,” he said. More

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      Bribery Charges Against Gautam Adani Strike at Heart of Modi’s India

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      The U.S. indictment names Gautam Adani, one of India’s richest businessmen, but it points to an even bigger target: how business is done there.Gautam Adani is no ordinary Indian billionaire. Over the past 10 years, he has become in effect an extension of India’s government. His conglomerate, Adani Group, builds and buys ports, factories and power plants, often under state contract or license. It operates airports. It even owns a TV news channel.Mr. Adani’s business empire has become central to India during the rise of Narendra Modi, first elected as prime minister in 2014.As Mr. Modi brought India to the center of the world stage, he brought Mr. Adani in tow. Today, Mr. Adani’s flagship company is worth about 10 times more than it was at the start of the Covid-19 pandemic.On Wednesday, the U.S. government charged Mr. Adani, one of the world’s richest people, with multiple counts of fraud. Federal prosecutors accused him and his associates of offering $265 million to Indian officials and lying about the bribery scheme to Wall Street investors when raising money for a massive renewable energy project.The Adani Group denied prosecutors’ claims, calling the allegations “baseless.” A spokesman said the company wanted to “assure our stakeholders, partners and employees that we are a law-abiding organization, fully compliant with all laws.”Solar panels being installed at a renewable energy park owned by the Adani Group in Khavda, India. Punit Paranjpe/Agence France-Presse — Getty Images

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      Source: FactSetBy The New York TimesWe are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More