INDIAN EXPRESS DATED 9TH JULY 2025

Summary of Important News Items and Editorials-31

INDIAN EXPRESS DATED 9TH JULY 2025.

1.   50% Tariff on Copper, Pharma May Invite Up to 200%: Trump

In a sharp escalation of trade tensions, U.S. President Donald Trump announced a 50% tariff on copper imports and signalled a potential increase in pharmaceutical tariffs to 200% within a year. The announcement comes amid ongoing trade negotiations with India and as part of Trump's broader protectionist agenda. Copper is a critical Indian export, with the U.S. accounting for 17% of India’s $2-billion global copper exports in 2024–25. The pharmaceutical sector, even more crucial, saw $9.8 billion worth of exports to the U.S., forming 40% of India’s total drug exports. Trump justified the tariff hike as a strategy to encourage domestic production, offering drugmakers a year to "get their act together." While domestic Indian industries might absorb the copper demand shock, the pharmaceutical sector faces serious risks, especially given its role in providing affordable generics to the U.S. The tariffs are seen as part of Trump’s broader scepticism toward BRICS.

2.   FATF: Online Sites Used for Terror Attacks in Pulwama, Gorakhnath

The Financial Action Task Force (FATF) has revealed the increasing exploitation of online platforms for terror financing, citing India's Pulwama (2019) and Gorakhnath (2022) attacks as case studies. According to its report, online payment services, VPNs, social media, and e-commerce platforms are now tools of choice for terror groups. In Pulwama, aluminium powder used in the IED was sourced via Amazon. The Gorakhnath attacker transferred funds to ISIL using PayPal and VPNs to mask identity. FATF also highlighted “state-sponsored” terror funding through smuggling and gold-for-oil trade chains, without naming specific countries, though implications for Pakistan are clear. The report underscores the decentralisation of terrorism, citing a shift from centralised leadership to regional financial autonomy, as with Al-Qaeda's Indian subcontinent operations. Indian agencies had previously flagged such patterns, and this FATF validation adds global weight. The watchdog calls for urgent global policy tightening around digital financial systems to disrupt these terror mechanisms.