Trump Raises India’s Tariff Rate to 50 Percent; Apple to Announce Another $100B US Investment

President Donald Trump is imposing an additional 25 percent tariff on India, lifting the total rate to 50 percent. Trump, writing in an Wednesday executive order, said India’s government is “currently directly or indirectly importing Russian Federation oil.” Trump is expected to announce on Aug. 6 that Apple will increase its U.S. investment commitment by an additional $100 billion. The new pledge comes on top of the more than $500 billion in investments the tech giant unveiled in February for the next four years.