U.S. President Donald Trump and Indian Prime Minister Narendra Modi shake hands as they attend a joint press conference at the White House in Washington, D.C., U.S., Feb. 13, 2025.
The world's largest economy has struck a deal with the most populous nation.
U.S. President Donald Trump announced Monday that America will lower so-called reciprocal tariffs on India to 18% from 25%. As part of the deal, New Delhi will "BUY AMERICAN" at "a much higher level," and stop buying oil from Russia. Instead, India will import it from the U.S. and possibly Venezuela, according to Trump.
Despite various nations' commitments to engage in more trade and investment with Washington, it seems travelers are still staying away from the U.S. ā at least according to Disney . International visits to U.S. theme parks during its fiscal first quarter was "softer" and is facing headwinds, the media conglomerate reported on Monday. Shares of Disney plunged 7.4% following its earnings report.
Major U.S. indexes, however, climbed on Monday, shrugging off the recent steep declines in gold and silver. The S&P 500 added 0.54% and the Dow Jones Industrial Average rallied 1.05%. Despite Nvidia losing 2.9% on reports that its planned $100 billion investment in OpenAI has stalled, the tech-dominated Nasdaq Composite rose 0.56%.
The Reserve Bank of Australia will announce its interest rate decision later today, and is expected to defy the trend of central banks loosening monetary policy. Analysts expect the RBA to hike rates on hotter-than-expected inflation and a robust labor market.