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A Reduction in the Additional Duty on U.S. Apples

Yes, India has indeed reduced the additional 20% duty on U.S. apples, it signifies a change in the import tariff structure for this specific product.  Reduction 20% Duty on U.S. changes in import duties are often made for various reasons, including trade negotiations, economic policies, or international trade agreements.

A Reduction 20% Duty on U.S. Apples can make them more competitive in the Indian market, potentially leading to an increase in their import and availability to consumers in India. This could also benefit U.S. apple exporters who may find it more economically viable to sell their products in India.

It’s important to note that import duty changes can impact various stakeholders in the supply chain, from producers and exporters to importers and consumers. For the most accurate and detailed information on this specific duty reduction and its implications, it’s advisable to refer to official government sources, trade authorities, or news reports that provide insights into the rationale behind this policy change and how it might affect the market dynamics for U.S. apples in India.

India Typically uses Two Types of Import Duties:

Most Favoured Nation (MFN) Duty: This is the standard import duty rate applied to goods from most countries that have trade agreements with India. It is the baseline duty rate.

Additional Duty: This is an extra duty applied on top of the MFN duty rate, and it can vary depending on issues such as the country of origin, the type of goods, and any trade agreements or policy changes.

If there have been recent changes to the import duties on U.S. apples, it’s likely related to trade negotiations or policy adjustments made by the Indian government.  A Reduction 20% Duty on U.S. Apples changes could involve reducing or increasing the additional duty while maintaining the MFN duty rate.

Continue to Read Here: https://www.indiatvnews.com/business/news/india-reduces-additional-20-pc-duty-on-us-apples-maintains-50-pc-mfn-duty-pm-modi-joe-biden-trade-deal-2023-09-12-892292

No Time For Business With Putin… U.S. Official’s Advice To India

Ahead of the G20 Summit, a US official has advised India on its Russian oil purchase. John Kirby, National Security Council spokesperson, said that “this is no time to do business with Russia and President Vladimir Putin as usual.” He added that “every country has the right to buy oil from any country it wants,” but that India’s purchases of Russian oil are “helping to prop up the Russian economy and military.”

Kirby’s comments come as India has been increasing its imports of Russian oil in recent months. India is the world’s third-largest oil importer, and Russia is its second-largest supplier. India has said that it is buying Russian oil at a discounted price and that it needs to ensure its energy security.

The US has not imposed sanctions on India for its purchases of Russian oil, but it has urged India to reconsider its position. The US argues that India’s continued purchases of Russian oil are helping to fund Russia’s war effort in Ukraine.

It remains to be seen how India will respond to the US’s pressure. However, it is clear that the issue of Russian oil is a major challenge to the US-India relationship.

Here are Some Additional Things to Consider

• The US and India are strategic partners, but they have different views on the Russia-Ukraine war. The US has imposed harsh sanctions on Russia, while India has refrained from voting on UN resolutions condemning Russia’s actions.
• India is a developing country with a large population. It needs to ensure that it has access to affordable energy. Russian oil is available at a discounted price, which is attractive to India.
• The US is also a major oil producer. It could potentially increase its oil exports to India, but this would require investment in new production facilities.

The situation is complex and there is no easy answer. It is likely that the US and India will continue to discuss the issue of Russian oil in the coming months.

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China’s Widening Restrictions on the Use of iPhones

China’s widening restrictions on the use of iPhones by state employees have rattled Apple and other US technology stocks, as investors fretted over the financial impact of rising Sino-American tensions on companies with large China exposure.

The Wall Street Journal stated on Wednesday that Beijing has told employees at some central government agencies to stop using their Apple phones at work. The move is seen as a way for China to protect its national security, as Apple’s strict privacy rules make it difficult for anti-corruption officials to access and investigate suspects’ phones.

Apple’s shares fell more than 3% on Thursday, and other US tech stocks also took a hit. Qualcomm, which supplies chips to Apple, fell 7.2%.

The widening iPhone restrictions are the latest sign of rising tensions between China and the United States. The two countries have been engaged in a trade war for more than a year, and the Trump administration has also executed sanctions on Chinese tech companies.

The iPhone is one of Apple’s popular products, and it generates billions of dollars in income for the company. The widening restrictions could hurt Apple’s sales in China, which is its second-largest market.

iPhone Slowdown

It is unclear how far China will go with its iPhone restrictions. Some analysts believe that the government may eventually ban the use of iPhones by all government employees. Others believe that the restrictions may be limited to certain agencies or departments.

The widening iPhone restrictions are a reminder of the challenges that US tech companies face in China. The Chinese government is increasingly assertive in its efforts to protect its national security. And this could lead to further restrictions on foreign technology companies.

It leftovers to be seen how Apple will respond to the widening iPhone restrictions. The company could try to work with the Chinese government to find a way to meet its security concerns without harming its business. Or, it could decide to withdraw from the Chinese market altogether.

The outcome of this state will have a significant impact on Apple and the US technology sector. It will also be a test of the strength of the US-China relationship.

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Investors are Hoping for a Soft Landing for the US Economy

Yes, that is correct. Investors are hoping for a soft landing for the US economy, which means that the Federal Reserve will be able to bring down inflation without causing a recession. The next round of inflation data, which will be released on September 13, will be closely watched by investors. If the data shows that inflation is still rising, it could lead to expectations of more aggressive rate hikes from the Fed, which could weigh on stocks. However, if the data shows that inflation is starting to cool, it could give investors some relief and could help to support the stock market rally.

The Factors that Investors Will be Watching for in the Inflation Data

·         The headline inflation rate, which measures the overall change in prices for goods and services.

·         The core inflation rate, which rejects food and energy prices.

·         The inflation rate for rent, which is a key component of the cost of living.

·         The inflation rate for wages, which could give investors an indication of whether workers are starting to demand higher pay to keep up with rising prices.

The Federal Reserve has said that it is loyal to taking inflation back down to its 2% target. However, it is a delicate balancing act, as the Fed does not want to increase interest rates too quickly or too high, which could slow the economy and lead to a recession.

Investors will be watching the inflation data closely in the coming weeks and months to see how the Fed navigates this difficult challenge.

Additional Thoughts from Analysts

·         “The market is valuing in a soft landing, but it’s not a sure thing,” said Randy Frederick, managing director of trading & derivatives for the Schwab Center for Financial Research. “If we get a high inflation print, we will see those expectations pick right up” for September and November.

·         “The Fed is walking a tightrope,” said Michael Purves, head of Tallbacken Capital Advisors. “They need to bring inflation down, but they don’t want to do it so quickly that they cause a recession.”

·         “The next few weeks will be critical for the stock market,” said Art Cashin, chief market strategist at UBS. “The inflation data will be the main focus, but investors will also be watching earnings reports and economic data.”

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Introduction

In the world of finance and investments, there is a select group of individuals who have accumulated immense wealth and power. These billionaires have mastered the art of wealth preservation and understand the importance of diversifying their portfolios with assets that possess lasting value. One such asset that has stood the test of time and continues to captivate the attention of billionaires is gold. In this article, we will delve into the reasons why billionaires choose to invest in gold and explore the benefits that this precious metal offers to their investment strategies.

The Enduring Allure of Gold

Gold has a rich history that spans thousands of years, intertwined with the rise and fall of civilizations. From ancient Egyptian pharaohs to the modern-day billionaires, gold has always been synonymous with wealth and power. Its value is deeply rooted in its scarcity, tangibility, and universal acceptance as a store of value. Unlike fiat currencies that can be printed at will, gold cannot be manipulated by governments or financial institutions. This inherent quality makes gold a reliable hedge against economic uncertainties and market volatilities.

A Historical Perspective

The fascination with gold dates back to the earliest recorded history. The Egyptians, more than 4,000 years ago, adorned themselves and their most powerful figures with gold. This period coincided with significant advancements in human civilization, including the invention of writing, the emergence of mathematics and astronomy, and the spread of agriculture. Gold became not only a symbol of wealth but also a medium through which power and influence were displayed.

Gold as a Valuable Commodity

Throughout history, gold has consistently maintained its value as a valuable commodity. Even before the advent of minted money, gold held its place as a precious resource. Today, the world’s wealthiest investors allocate a significant portion of their portfolios to gold, recognizing its enduring worth. According to the Credit Suisse Global Wealth Report, approximately 11% of the assets of the world’s wealthiest individuals are held in gold. This allocation reflects their confidence in gold’s ability to appreciate in value over the long term.

Reasons Why Billionaires Invest in Gold

1. Safe Haven and Store-of-Value Asset

Gold serves as a safe haven and store-of-value asset, especially during times of economic instability and market volatility. Billionaire investors understand the importance of diversifying their portfolios to mitigate risks. Ray Dalio, the founder of Bridgewater Associates, the world’s largest hedge fund, advocates for holding gold instead of cash. He believes that cash will underperform stocks and bonds in the current economic climate, highlighting the need for safer assets like gold.

Lord Jacob Rothschild, a prominent member of the Rothschild banking family, shares a similar sentiment. The Rothschilds, with their rich history of wealth accumulation, have long favored gold over the U.S. dollar. They recognize gold’s ability to maintain its value and act as a hedge against economic uncertainties. Their decision to reduce their holdings in U.S. dollars and purchase gold and other currencies reflects their belief in the enduring value of gold.

2. Protection Against Economic Uncertainty

Billionaire investors understand that gold possesses a unique quality in times of economic uncertainty. It has a negative correlation with conventional assets and financial instruments, making it an attractive investment option. During the 2008 financial crisis, when stock values plummeted, gold prices soared. This negative correlation has been a favored argument of gold bulls like Ray Dalio, who recognizes gold as a hedge against fear and uncertainty in the markets.

Investing in gold provides billionaires with a sense of security, knowing that their wealth is protected even during times of economic turmoil. Its value remains resilient, acting as a buffer against market downturns. Warren Buffett, the legendary investor, may not be a huge advocate of gold, but even he recognized its ability to act as a way of going long on fear. Gold may not generate substantial returns, but it offers stability and preservation of wealth, making it an essential component of billionaire investment strategies.

3. Diversification and Portfolio Stability

Maintaining a diversified portfolio is a fundamental principle of successful investing. Billionaires understand the importance of diversification to minimize risks and achieve long-term stability. When an economy experiences a downturn, traditional investments such as stocks and real estate can lose value. However, gold has historically proven to be a reliable asset during these periods, providing a hedge against losses.

By incorporating gold into their portfolios, billionaires reduce their exposure to riskier assets and ensure stability in times of economic uncertainty. Gold’s low correlation with other assets makes it an effective tool for diversification. Frank Trotter, the president at Battle Bank, suggests that reallocating into gold can be a prudent choice when investors anticipate a possible recession or stagflation. It allows them to reduce their exposure to the volatility of stocks and bonds, balancing their portfolios with a stable and valuable asset.

The Path to Wealth Preservation: Emulating Billionaire Strategies

While the strategies employed by billionaires may seem out of reach for everyday investors, the principles behind their investment decisions can be applied on a smaller scale. Gold offers a unique investment opportunity accessible to almost anyone, regardless of their level of wealth. It provides an avenue for individuals to preserve and grow their wealth, just as billionaires have done for centuries.

Investors are increasingly turning to gold and silver as a means of protecting their portfolios in the face of growing economic uncertainty. Gold’s historical performance, its ability to act as a safe haven asset, and its negative correlation with conventional investments make it an attractive option. By integrating gold into their investment strategies, investors can enjoy the benefits of wealth preservation and portfolio stability.

Conclusion

Gold has captivated the attention of billionaires throughout history, serving as a symbol of wealth, power, and stability. Its value has withstood the test of time, providing a reliable store of wealth and a hedge against economic uncertainties. Billionaire investors recognize the benefits that gold offers to their investment strategies, including its role as a safe haven asset, its ability to protect against economic uncertainty, and its contribution to portfolio diversification.

While the investment strategies of billionaires may seem unattainable for the average investor, the principles behind their decisions can be applied on a smaller scale. Gold presents an accessible opportunity for individuals to preserve and grow their wealth. By incorporating gold into their portfolios, investors can emulate the strategies of billionaires and embark on a path to lasting wealth preservation.

Introduction :

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India Removes Additional Duties on US Products

India has decided to remove the additional duties imposed on 8 US products, including chickpeas, lentils, and apples. The duties were imposed in 2019 in retaliation to the US decision to raise tariffs on certain steel and aluminium products.

The removal of these duties was announced during the recent visit of Prime Minister Sri Narendra Modi to the US. The two countries also agreed to resolve six other trade disputes at the World Trade Organization (WTO).

The removal of the duties is expected to benefit both countries. It will make US products more affordable for Indian consumers and businesses, and it will also boost exports from the US to India.

US Products on Which India has Removed the Additional Duties

• Chickpeas
• Lentils
• Almonds (fresh or dried)
• Walnuts
• Apples
• Medical diagnostic reagents
• Boric acid

The duties were originally imposed on 28 US products, but India has decided to remove them on only 8 of these products. The remaining 20 products are still subject to the additional duties.

The removal of the duties is a positive step for trade between India and the US. It is expected to boost economic activity and create jobs in both countries.

Continue Here To Read More: https://indianexpress.com/article/business/economy/india-removes-additional-duties-on-certain-us-products-8928954/

Pave Way For Export Control Info Sharing

Yes, the US and China have recently discussed business restrictions and agreed to start exchanging information on export controls.

In a meeting on Monday, US Commerce Secretary Gina Raimondo and Chinese Commerce Minister Wang Wentao discussed concerns about restrictions on American businesses, including Intel and Micron Technology. The two sides also agreed to start exchanging information on export controls, which are regulations restricting the export of certain goods and technologies for national security reasons.

The agreement to exchange information on export controls is a positive step, as it could help reduce these restrictions’ impact on businesses. However, it is essential to note that the agreement is still in its early stages, and it is unclear how effective it will be.

The US and China have a long history of economic and trade tensions. These tensions have intensified in recent years as the two countries have become increasingly competitive in several key industries. The restrictions on American businesses in China are part of this broader competition.

The US government has argued that these restrictions are necessary to protect national security. However, the Chinese government has accused the US of trying to stifle Chinese innovation.

The meeting between Raimondo and Wang Wentao shows that the US and China are still willing to discuss economic issues. However, it remains to be seen whether this dialogue will lead to any significant progress in resolving the business restrictions and other trade tensions between the two countries.

Agreement to Exchange Information on Export Controls

The Two Sides Also Discussed the Following Issues:

• The US requested China to lift its restrictions on American companies operating in China.
• The Chinese request for the US to remove tariffs on Chinese goods.
• The need to cooperate on climate change and other global issues.

The meeting was described as “constructive” by both sides. However, it is too early to say whether it will produce concrete results.

The US and China are two of the world’s largest economies, and their economic relationship is complex and essential. The meeting between Raimondo and Wang Wentao shows that the two countries are still willing to work together, despite growing competition. However, whether this cooperation will overcome the challenges facing their economic relationship remains to be seen.

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