Donald Trump's hefty tariffs on India have have taken effect on August 27, which were announced to strong arm New Delhi into giving up on Russian oil supply. Starting today, many products produced in India that are shipped to the US will carry a 50% duty.
Goods like garments, gems and jewellery, footwear, sporting goods, furniture and chemicals are reportedly going to be hit the hardest. Reports say new tariffs are expected to hurt nearly $50 billion worth of products.
On the eve of the tariff enforcement, both the Sensex and Nifty dropped over 1% -- marking the steepest fall in three months. Markets remain closed on August 27, delaying any additional reaction.
Rains wrek havoc in northern India
Nearly 30 pilgrims were killed in landslides and flooding in northern India on Wednesday after incessant rainfalls. The deadly incident was reported from Jammu's Vaishno Devi shrine -- a religious spot visited by millions every year. Officials have said overflowing water in the Tawi, Chenab, Jhelum and Basantar rivers caused floods in low-lying areas. More than 5,000 people were evacuated from the banks of various flooded rivers and inundated low-lying areas in the Jammu region as rescue agencies and the administration continued to reach out to stranded people in flood-hit Jammu and Samba districts.
Israel calls Gaza hospital strike a 'mishap'
The Israeli military on Tuesday said its forces were targeting a camera operated by Hamas in two strikes that killed five journalists at a hospital a day earlier, triggering a wave of international condemnation.
The strike in southern Gaza's Khan Yunis killed at least 20 people, including the five reporters who worked for Al Jazeera, the Associated Press and Reuters, among other outlets. "Six of the individuals killed were terrorists," the IDF said, adding that the chief of staff instructed "to further examine several gaps", including the "authorisation process prior to the strike".
Hours after the strike, Israeli Prime Minister Benjamin Netanyahu expressed regret over what he called a "tragic mishap". The strike was condemned by a range of voices, including Israel's traditional allies, as well as the UN, media outlets, rights groups and the Israel-based Foreign Press Association.
R Ashwin hangs up his boots
Former Indian cricketer Ravichandran Ashwin announced his retirement from the Indian Premier League and said he would now open to play for other leagues around the globe. The veteran spin bowler played with 5 different teams in the IPL through his career. He played his last game with the Chennai Super Kings in 2025.
