Russia blames US for decision to suspend nuclear arms reduction treaty

Washington: In a move that stunned markets and political observers alike, US President Donald Trump on Wednesday announced a 90-day pause on his sweeping tariff regime—granting relief to all countries except China. Just a day earlier, such a reversal had seemed unimaginable.

Trump said the pause was prompted by the cooperative stance of over 75 nations, which had refrained from retaliating against his earlier tariffs. These countries, he claimed, chose negotiation over confrontation. During the pause, a reduced reciprocal tariff of 10% will be in place.

However, Trump made it clear that China would face no such leniency. Citing Beijing's alleged trade abuses and “lack of respect” for global markets, he announced an immediate hike in tariffs on Chinese imports to 125%, up from the earlier 104%.

“At some point, hopefully in the near future, China will realize that the days of ripping off the US and other countries is no longer sustainable or acceptable,” Trump wrote on Truth Social.

Despite repeatedly resisting pressure from within his own party and business circles to halt the tariff spree, Trump’s sudden pivot was reportedly triggered by alarm bells inside the US Treasury Department. According to CNN, Treasury Secretary Scott Bessent raised red flags about a dramatic selloff in the bond market, which, if left unchecked, could spiral into a financial crisis.

Speaking to the media after the announcement, Trump seemed to suggest that the decision came from instinct rather than strategy.

“We didn’t have access to lawyers… We wrote it up from our hearts. You have to be flexible,” he said.

The markets responded instantly. The Dow Jones Industrial Average surged over 2,500 points, while the Nasdaq jumped 12.2%, its best day in 24 years. The S&P 500 rose 6%, oil prices climbed more than 4%, and the dollar strengthened.

Impact on India

India, which had been hit with a 26% customized reciprocal tariff, saw its markets rattled in recent weeks. The pause offers a much-needed breather, as New Delhi works to finalize a multi-sectoral trade deal with Washington.

Ministry of External Affairs Spokesperson Randhir Jaiswal confirmed that talks are underway. “We hope to address these issues and conclude this agreement expeditiously,” he said, underlining the strong economic ties between the two nations.

Mumbai: In a powerful symbol of friendship and collaboration, the first official visit of Dubai Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum to India has paved the way for landmark initiatives — including a not-for-profit hospital for blue-collar workers and the launch of a virtual UAE-India trade corridor.

A key highlight of the visit is the announcement of the UAE-India Friendship Hospital (UIFH), to be established in Dubai. The hospital will provide accessible, inclusive healthcare for blue-collar workers, reaffirming the shared commitment of both nations to uplift underserved communities.

The initiative is being jointly developed by Dubai Health and five leading Indian entrepreneurs, who will serve as the founding trustees. The agreement was signed in Mumbai at a special event hosted by Dubai Chambers, with Dr Amer Sharif, CEO of Dubai Health, representing the UAE side.

The founding trustees of UIFH are:

Faizal Kottikollon, Chairman of KEF Holdings

Nilesh Ved, Chairman of Apparel Group

Siddharth Balachandran, Executive Chairman of Buimerc Corporation

Tariq Chauhan, Vice Chairman of EFS Facilities

Ramesh S Ramakrishnan, Chairman of Transworld Group

All five are prominent members of the UAE India Business Council – UAE Chapter (UIBC UC).

Describing the visit as “monumental,” Siddharth Balachandran said:

“This is truly a monumental visit in terms of strategic impact for both nations. The announcement of collaborative projects in healthcare, education, and philanthropy is the icing on the cake. I’m especially proud to be part of UIFH, which will serve the blue-collar community with dignity.”

The Crown Prince’s visit came at the invitation of Indian Prime Minister Narendra Modi, and marks a significant step forward in UAE-India ties. Over the two-day visit, eight strategic Memorandums of Understanding (MoUs) were signed in the presence of Sheikh Hamdan and India’s Minister of Commerce and Industry, Piyush Goyal. These MoUs span sectors such as infrastructure, healthcare, higher education, maritime services, logistics, and private sector engagement.

A standout partnership was the agreement between DP World and RITES, a premier Indian government enterprise under the Ministry of Railways. Signed by Sultan Ahmed bin Sulayem, Group Chairman and CEO of DP World, and Rahul Mithal, CMD of RITES, the MoU focuses on building resilient, tech-enabled supply chains, in line with the long-term economic visions of both countries.

The visit not only strengthened bilateral ties but also demonstrated the growing synergy between the two nations in driving humanitarian, economic, and technological progress.

Mangaluru, Apr 7: A price storm is brewing in Mangaluru’s hotel and restaurant industry. Faced with skyrocketing raw material costs and mounting overheads, hoteliers are preparing to hike food prices by up to 10% within a month — a move that could hit the pockets of thousands of diners across Dakshina Kannada.

From milk and oil to LPG and staples like rice and toor dal, prices have surged, pushing both vegetarian and non-vegetarian establishments to the brink. Over 65% of hotels operate in rented spaces, and labour shortages are adding fuel to the fire.

Swarna Sunder of Dinki Dine says running a hotel without burdening customers is becoming near-impossible. “Costs are rising daily. We’re trying to strike a balance, but a hike is inevitable,” he said, calling Mangaluru a highly price-sensitive market.

Industry leaders, including the Dakshina Kannada Hotel Owners Association, are expected to meet soon to formalize the revision.

Meanwhile, hoteliers blame "unhealthy competition" for further disrupting the sector. “Some serve unlimited fish meals under ₹60 — it’s unsustainable and unfair,” said a hotelier, adding that such practices are forcing smaller eateries to shut shop.

Chandrahas Shetty, president of the district association, confirmed that rising input costs have left them with little choice but to revise menus.