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By EquityPandit

WORLD

Donald Trump: He’s Considering a Ban on TikTok in US

President Donald Trump said his administration is considering banning the short video app TikTok in the US as one possible way to retaliate against China over its handling of the coronavirus. Trump’s comments on Tuesday came one day after Secretary of State Michael Pompeo said officials were looking at barring the app, whose parent company is China’s ByteDance Ltd.

‘It’s something we’re looking at, yes,’ Trump said when asked in an interview with Gray Television’s Greta Van Susteren about Pompeo’s remarks. ‘It’s a big business. Look, what happened with China with this virus, what they’ve done to this country and to the entire world is disgraceful.’ Trump did not offer any specifics about a potential decision. He said that banning TikTok is ‘one of many ways he is looking to hit back at the Beijing government over the coronavirus, which has infected nearly 3 million people in the US and killed more than 130,000. In a separate but related development, the short-video app is the subject of an inquiry by the US Federal Trade Commission and Justice Department over its data practices, according to a children’s privacy advocate who says he was interviewed by the agencies. Several privacy groups alleged in May that the app, which is popular with teens, was collecting information about children under 13 without parental permission, in violation of both U.S. privacy law and an earlier FTC settlement. The president has seen his poll numbers plummet as his own response to the pandemic has come under widespread criticism, including for his refusal to unequivocally urge Americans to wear masks.

TikTok played up its US ties and said it doesn’t feed user data to China, pushing back against comments by Pompeo, who said the government was weighing a ban in part over concerns about its ownership.

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Trump Announces 25% Additional Tariff on Venezuela Trade

Ali Waghbakriwala
trump Impacts on Indian Stock Market

US President Donald Trump announced new tariffs targeting nations purchasing oil and gas from Venezuela.

On 24 March, Trump declared that the US would impose an additional 25% tariff from 2 April on countries importing oil from Venezuela, impacting both direct and indirect buyers.

“Venezuela has been very hostile to the United States and the freedoms we uphold. Any country purchasing oil or gas from Venezuela will have to pay a 25% tariff to the US on any trade they conduct with us,” Trump stated on Truth Social.

This new “secondary tariff” will be added to the existing duties, further tightening economic pressure on Venezuela.

In his announcement, Trump claimed that Venezuela has been deliberately sending criminals to the US, which he cited as one of the “numerous reasons” for imposing the tariff.

The decision, which could further destabilize global trade, is also expected to affect major importers like China, possibly disrupting supply chains.

Since his return to the White House in January, Trump has actively imposed tariffs on both US allies and rivals, using trade policies as leverage for economic and diplomatic negotiations.

The final decision on implementing the new levy will be determined by the US Secretary of State in consultation with other government agencies.

WORLD

US Trade Envoy to Visit India Before Trump’s Tariff Plan

Dhruva Kulkarni

With Trump’s reciprocal tariffs nearing implementation, a top US trade official is visiting India for key trade discussions.

Assistant USTR for South and Central Asia, Brendan Lynch, will lead a delegation to India from March 25-29, according to a US Embassy spokesperson.

The Wall Street Journal reports that while the White House remains committed to reciprocal tariffs, sectors like automobiles, pharmaceuticals, and semiconductors are unlikely to be affected initially.

The “dirty 15” nations with the highest trade deficits with the US may still face country-specific tariff rates instead of a tiered system.

Although most imports will be impacted, the final tariff structure is still being determined.

The visit underscores ongoing trade negotiations as both nations work to manage potential disruptions. March 25-29 talks are expected to clarify India’s stance and possible exemptions before the official tariff rollout next week.

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Trump Announces Upcoming US-Ukraine Minerals Deal

Dhruva Kulkarni

Donald Trump stated on Thursday that the US will soon sign a minerals and natural resources deal with Ukraine, linking it to his ongoing peace efforts after recent talks with Russian and Ukrainian leaders.

Speaking at a White House event, he mentioned discussions with Vladimir Putin and Volodymyr Zelenskyy, which resulted in a 30-day pause in Russian attacks on Ukrainian energy infrastructure.

Trump believes these efforts could save thousands of lives and remains hopeful about ending the war.

The US and Ukraine had previously agreed to develop Ukraine’s critical mineral resources, with Trump viewing it as a way for Kyiv to repay US support.

However, efforts to finalise the deal faced setbacks after a heated White House meeting with Zelenskyy last month, temporarily halting US military aid.

A revised version of the deal is reportedly more detailed but does not yet include Ukraine’s requested security guarantees. At the same time, the EU has yet to approve additional artillery funding for Kyiv.

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Tesla recalls 46,096 Cybertrucks over loose panels posing road hazard

Dhruva Kulkarni

Tesla is recalling 46,096 Cybertrucks in the US due to a defect that could cause an exterior panel to detach while driving, posing a road hazard.

The recall marks a setback for Tesla, as the Cybertruck’s success is crucial to its growth amid rising competition and an ageing vehicle lineup.

Tesla will replace the faulty rail assembly free of charge, with the recalled vehicles representing most Cybertrucks on the road.

Demand for the unconventional EV pickup has already shown signs of weakness following delays, and Tesla shares fell nearly 2% in premarket trading.

Tesla shares have dropped 42% this year amid a sluggish EV market and concerns over CEO Elon Musk’s growing government role.

The company led the US recalls in 2024, with 5.1 million vehicles affected, though most issues were resolved through software updates.

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Pentagon plans to cut up to 60,000 civilian jobs

Dhruva Kulkarni

The Department of Defense plans to cut 50,000 to 60,000 civilian jobs, targeting a 5% to 8% reduction in its 900,000-strong workforce.

Around 6,000 positions per month will be eliminated by not replacing departing workers, raising concerns that service members may fill vacant roles.

The reduction will occur through voluntary resignations, firing probationary workers, and leaving vacated positions unfilled.

Defense Secretary Pete Hegseth assured that military readiness would not be affected, though some veterans will be impacted.

A federal judge has temporarily halted the termination of 5,400 probationary employees, initially dismissed for poor performance or misconduct.

Officials are reviewing personnel to ensure essential national security roles remain unaffected.

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