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‘Do the right thing’: Trump proposes Fed rate cuts, affirms tariffs would ease economy – The Times of India

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‘Do the right thing’: Trump proposes Fed rate cuts, affirms tariffs would ease economy – The Times of India


President Donald Trump on Thursday urged the Federal Reserve to cut interest rates, assuring that the tariff policies would ease the economy. He described April 2 as a “liberation day” for the country, marking the implementation of new trade measures.
In a post on Truth Social, he wrote, “The Fed would be MUCH better off CUTTING RATES as U.S.Tariffs start to transition (ease!) their way into the economy. Do the right thing. April 2nd is Liberation Day in America!!!.”

On Wednesday the Federal Reserve kept its benchmark interest rate unchanged for the second consecutive meeting, while reaffirming plans to cut rates twice before the end of the year. However, officials acknowledged rising uncertainty as inflation remains persistent and economic growth slows.
In its latest forecast, the Fed revised its growth expectations downward and projected a slight increase in unemployment to 4.4 per cent by the end of 2025. Inflation, currently at 2.5 per cent, is now expected to rise to 2.7 per cent this year. Fed Chair Jerome Powell warned that new tariffs could further delay inflation relief by increasing costs on imported goods.
It also announced a slowdown in the reduction of its US treasury holdings, limiting the monthly runoff to $5 billion instead of $25 billion. This move aims to keep long-term borrowing costs in check.

Bringing back lost wealth

Previously, speaking to reporters aboard Air Force One, Trump defended his tariff policy, claiming it would reclaim wealth lost under previous administrations.
“April 2 is a liberating day for our country,” he said. “We’re getting back to some of the wealth that very, very foolish presidents gave away because they had no clue what they were doing,” quoted by The Hill.
The move marked a major escalation in his trade policies, which the White House alleges, would affect ‘trillions’ of dollars in goods, Finance News Network reported.
Despite growing concerns about the impact on financial markets in the US and abroad, Trump dismissed the idea of pulling back on tariffs. When asked whether he had any plans to ease trade restrictions, to which he firmly replied, “No.”
“It’s a liberation day for our country because we’re going to be getting back a lot of the wealth that we so foolishly gave up to other countries, including friend and foe,” he added.

Reciprocal taxes

Trump’s tariff plan includes major reciprocal measures and sector-specific duties, particularly targeting steel and aluminium used in auto production.
“If India, China, or any other country hits us with a 100 or 200 percent tariff on American-made goods, we will hit them with the same exact tariff,” he said.
While his approach has rattled markets and triggered talk of retaliation from Canada, Trump signalled an even more aggressive stance, announcing that the steel and aluminium tariff would increase from 25 per cent to 50 per cent in response to Canada’s electricity surcharges.

Global market concerns

Trump’s tariff policies have rattled investor sentiments. S&P 500 has fallen more than 8 percent in the past month, while the Nasdaq has dropped nearly 13 percent.
Though detailed tariff plans are expected to be revealed over the upcoming weeks, the move is expected to trigger tensions with major trading partners and add to global economic uncertainty.
Since taking office, Trump has imposed tariffs on approximately $800 billion (£630 billion) worth of imports from China, Mexico, and Canada. Despite these concerns, his administration is pressing ahead with an even broader tariff strategy, led by vice president JD Vance, commerce secretary Howard Lutnick, and treasury secretary Scott Bessent.
Trump, however, remains adamant that his policies will ultimately benefit the US economy and help in fostering domestic industries.





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Rishi Sunak condemns Pahalgam attack, stands in solidarity with India – The Times of India

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Former UK Prime Minister Rishi Sunak has expressed deep sorrow and outrage over the deadly terrorist attack in Pahalgam, Jammu and Kashmir, that killed at least 26 people on Tuesday. Most of the victims were tourists.
Taking to X, Sunak wrote, “The barbaric attack in Pahalgam has stolen the lives of newlyweds, children, and families simply seeking joy. Our hearts break for them. To those mourning – know that the UK stands with you in sorrow and solidarity. Terror will never win. We grieve with India.”
The Resistance Front (TRF), a group linked to the Pakistan-based Lashkar-e-Taiba, claimed responsibility for the attack. Gunmen opened fire near a popular tourist meadow close to Pahalgam town, in what has become the worst attack in the region since the 2019 Pulwama bombing.
Global leaders including US president Donald Trump have voiced their condemnation and support for India. Trump called the attack “deeply disturbing” and said the United States stood firmly with India in its fight against terrorism.
Prime Minister Narendra Modi, who returned early from a visit to Saudi Arabia, chaired a high-level security meeting in Delhi. India has since suspended the Indus Waters Treaty with Pakistan as part of its response.
Earlier, Defence minister Rajnath Singh assured the nation of a “loud and clear” response to the Pahalgam terror attack that killed 28 people, mostly tourists.Rajanth Singh said that the government would hunt down not only the perpetrators who carried out the ghastly attack, but also those behind the scenes.





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With Hasina gone, BNP is torn by internal clashes

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Lablu Mia, a 50-year-old local leader of the Bangladesh Nationalist Party (BNP), was known as a devoted activist in Badarganj upazila of Rangpur district. But on April 5, his loyalty to the party meant nothing when rival BNP factions turned on each other in a vicious clash over control of a business near the upazila central Shaheed Minar. Stabbed repeatedly in the clashes, Mia became the latest casualty in a growing wave of internal clash tearing through the BNP.

The clash, which left at least 15 injured — nine critically — spiralled so out of control that police and army personnel had to be deployed to restore order. The BNP swiftly suspended eight of its leaders, including a former MP, in connection with the incident, but the damage was already done.

Mia’s death is not an isolated incident. Since the fall of Sheikh Hasina’s government on August 5, 2024, the BNP, arguably the most dominant political force in the country, has been torn by internal divisions. With the Awami League’s influence diminished, BNP factions are now frequently locked in clashes for influence.

Just two days after Mia’s killing, another deadly clash erupted in Raipur Upazila of Lakshmipur district, between rival BNP factions. Two activists were killed, and 15 others were hospitalised with stab wounds.

According to the Human Rights Support Society (HRSS), a rights organisation in Bangladesh, at least 23 people were killed and 733 more injured in over 97 incidents of political violence across the country in March. Of the deaths, 17 occurred in 64 clashes between rival factions of the BNP. These incidents left 502 others injured.

The rights body said that most of the violence was driven by efforts to establish dominance, political vendetta, extortion, and the occupation of various facilities. Although the number of political violence incidents slightly decreased last month, from 104 in February — the number of deaths more than doubled from nine. Of them, five died as result of infighting between BNP factions.

Political violence

January also witnessed alarming levels of political violence, with at least 15 people killed and 987 injured in 124 incidents. The bloodshed predominantly stemmed from internal party conflicts, particularly within BNP, which accounted for 68 violent incidents resulting in 677 injuries and five deaths. However, inter-party clashes between BNP and Awami League activists turned deadly in 22 instances, leaving 106 wounded and four dead, while three confrontations between BNP and Jamaat-e-Islami supporters saw 60 casualties and one fatality.

According to data from Ain o Salish Kendra, another rights organisation, at least 36 people have been killed in political violence over the past three months, including 24 who were killed in infighting between the BNP and its affiliated organisations. Besides, at least 1,415 people were injured in clashes between BNP members and their affiliated wings during the period, while 189 were injured in clashes between the BNP and the Awami League, and 262 in clashes involving the BNP and Jamaat-e-Islami.

In 2024, following the fall of the Hasina-led government, violence within BNP circles intensified, leading to at least 1,697 injuries and 31 deaths. While the BNP has long positioned the Awami League as its primary rival, after Ms. Hasina’s fall and the Awami League’s political decline, internal instability appears to be the BNP’s most pressing challenge.

Although the BNP’s top leadership has consistently warned its leaders and activists of stern action if found involved in wrongdoings, including extortion, such warnings have largely gone in vain. Suspension orders are frequently issued when allegations surface against party members; however, these measures have failed to prevent the recurrence of such incidents.

Asked how the BNP sees the infighting, party organising secretary Shama Obaid told The Hindu that internal competition is common in big political parties. However, BNP Acting Chairman Tarique Rahman has instructed party leaders and activists to always stand by the people.

When asked about the deaths reportedly caused by infighting within the BNP over the past three months, Ms. Obaid said, “Each incident needs to be examined individually to determine whether it was truly an internal conflict or part of a conspiracy against the BNP. In many cases, members of the Awami League and their fascist collaborators infiltrate the BNP to create unrest and sabotage the party from within. These isolated incidents are often the result of such conspiracies.”

“While competition exists in large political parties, it doesn’t usually lead to these many deaths. These fatalities are happening because outsiders are orchestrating plots and blaming the BNP for the consequences,” she added.

Amid such incidents, politicians from different parties have called on BNP Acting Chairman Rahman to take decisive action against leaders involved in extortion and violence.

Ariful Islam Adib, senior joint convener of the Nationalist Citizens’ Party (NCP), a newly formed political party of students who led the anti-Hasina protest, said: “I urge Tarique Rahman to take immediate action not only within the party but also through legal means against those involved in extortion and criminal activities. Merely expelling them from the party is not enough. If these individuals are not dealt with firmly, they won’t just target opposition activists—they will eventually destroy the BNP from within.”

The law-and-order situation in the country is yet to be fully restored, as incidents of extortion and deadly violence occur unabated.

However, Home Affairs Advisor Jahangir Alam Chowdhury warned that strict action will be taken against police officials who fail to maintain law and order. “Clear and firm instructions have already been issued to law enforcement agencies to further strengthen control on the ground. If any police officers fail to bring the situation under control, they will face severe consequences,” he said.

According to the Inter-Services Public Relations (ISPR), a total of 390 individuals involved in various criminal activities — including robbery, extortion, mugging, and fugitives with multiple arrest warrants — were arrested across the country between April 10 and April 17 during joint operations conducted by the Bangladesh Army and other law enforcement agencies.

Changed situation

Advocate Saidur Rahman, chief executive of the Manabadhikar Shongskriti Foundation (MSF), told The Hindu that although the BNP has been out of power for nearly two decades, in the changed and favourable situation its leaders and activists are now involved in extortion.

“When they were completely out of power, we didn’t see such infighting among them. But now, driven by financial motives, they are clashing internally. When one faction tries to take control of an area, another group wants to dominate the same territory, leading to violent confrontations,” he said.

“We rarely see any concrete action from the government (against such incidents). Authorities seem to treat these internal fights as outside their jurisdiction. Even the police, despite being aware of the potential for violence, often refrain themselves from intervening out of fear for their own safety. There’s also a clear lack of coordination among different ministries; they don’t know what the others are doing. The government has largely taken a hands-off approach, as if to say, ‘Let the BNP fight among themselves; we don’t need to get involved’,” added Mr. Rahman.

(Rabiul Alam is a Dhaka-based journalist)



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A dozen States sue the Trump administration to stop tariff policy

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President Donald Trump.
| Photo Credit: AP

A dozen States sued the Trump administration in the U.S. Court of International Trade in New York on Wednesday (April 23, 2025) to stop its tariff policy, saying it is unlawful and has brought chaos to the American economy.

The lawsuit said the policy put in place by President Donald Trump has been subject to his “whims rather than the sound exercise of lawful authority.”

It challenged Mr. Trump’s claim that he could arbitrarily impose tariffs based on the International Emergency Economic Powers Act. The suit asks the court to declare the tariffs to be illegal, and to block government agencies and its officers from enforcing them.

A message sent to the Justice Department for comment was not immediately returned.

The States listed as plaintiffs in the lawsuit were Oregon, Arizona, Colorado, Connecticut, Delaware, Illinois, Maine, Minnesota, Nevada, New Mexico, New York and Vermont.

In a release, Arizona Attorney General Kris Mayes called Trump’s tariff scheme “insane.”

She said it was “not only economically reckless — it is illegal.”

The lawsuit maintained that only Congress has the power to impose tariffs and that the president can only invoke the International Emergency Economic Powers Act when an emergency presents an “unusual and extraordinary threat” from abroad.

“By claiming the authority to impose immense and ever-changing tariffs on whatever goods entering the United States he chooses, for whatever reason he finds convenient to declare an emergency, the President has upended the constitutional order and brought chaos to the American economy,” the lawsuit said.

Last week, California Gov. Gavin Newsom, a Democrat, sued the Trump administration in U.S. District Court in the Northern District of California over the tariff policy, saying his state could lose billions of dollars in revenue as the largest importer in the country.

White House spokesperson Kush Desai responded to Newsom’s lawsuit, saying the Trump administration “remains committed to addressing this national emergency that’s decimating America’s industries and leaving our workers behind with every tool at our disposal, from tariffs to negotiations.”



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