‘In its conclusion phase…’: India-US mini trade deal coming soon? These sectors may be excluded as Donald Trump’s tariff deadline nears
In April, the United States President Donald Trump declared matching tariffs for most US trading partners, calculated on their trade surpluses with America, incorporating a 26% duty on India.
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The Indian government seeks complete withdrawal of the 26% tariff, whilst America demands broader market entry across industries, including agricultural and dairy sectors, along with permission to export genetically modified crops to India.
India-US Mini Trade Deal Soon?
A second official confirmed that the mini trade deal would specifically address trade in goods. The source told the financial daily that both countries might proceed with additional agreements in future as various matters reach resolution.
India aims to secure enhanced market opportunities in the US for its workforce-driven sectors, particularly textiles and electronics. The US, in turn, seeks permission to export genetically modified (GM) crops and cattle feed to India, which remains a delicate matter for the Indian government.
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These aspects present significant hurdles for India, considering that domestic agriculturists predominantly practise subsistence farming on modest plots of land. The US administration, however, maintains its stance against reducing duties below the 10% threshold.
Trump has indicated that his government would dispatch letters to individual nations failing to reach an agreement with the United States by July 9, detailing the duties they would need to pay for American-bound exports.
Should negotiations collapse or the July 9 deadline remain unchanged, India would face tariffs reverting to the April 2 rate of 26%.
Donald Trump net worth: What are US President Donald Trump’s biggest investments? What makes him a billionaire? Donald Trump's actual net worth remains difficult to determine precisely, despite his self-proclaimed billionaire status. According to a New York Times report, Trump's net worth has seen a considerable rise in the early stages of his second term, largely attributed to his cryptocurrency investments, potentially surpassing $10 billion. However, a substantial portion of this wealth remains tied up in non-liquid assets.
Whilst certain components of his financial holdings, such as stock market and cryptocurrency investments, are publicly trackable, other aspects of his business dealings are less transparent. We take a look at what makes up Donald Trump’s over $10 billion net worth: (AI image)
Donald Trump’s crypto holdings, estimated at $7.1 billion, make up the biggest chunk of his net worth. Digital currencies mark a new territory for the Trump family's ventures. In a short time span, Trump has developed a diverse cryptocurrency portfolio across multiple industry segments, according to the NYT report.
Memecoin: A significant portion of Trump's holdings materialised through "$TRUMP", a digital currency launched prior to his assumption of office in January. Trump and his associates maintain control over the majority of the created $TRUMP coins. (AI image)
At the current rate of approximately $8.67, these assets are valued at approximately $6.9 billion. However, this valuation presents limited liquidity: Trump's coins have trading limitations, and large-scale sales would substantially reduce the price. The exact ownership distribution between Trump and his partners remains undisclosed.
Furthermore, Trump collects transaction fees from each memecoin transfer. According to Chainalysis, a crypto analytics firm, these fees have accumulated at least $320 million, shared amongst the Trump family and their business partners. (AI image)
World Liberty Financial: The president's cryptocurrency endeavours have been remarkably successful, going beyond his achievements with memecoins. The crypto company he helped establish during his presidential campaign last year, World Liberty Financial, has generated considerable income through sales of its digital currency, WLFI.
A Trump family business receives 75% of token sale proceeds after reaching a $30 million benchmark and accounting for expenses. (AI image)
In March, World Liberty reported $550 million in token sales, followed by additional sales of $25 million and $100 million. The Trump family's earnings likely exceeded $300 million, though the president's specific earnings will be revealed in his upcoming annual financial report.
According to his recent disclosure, the president holds over 15 billion World Liberty tokens. (AI image)
Donald Trump’s portfolio comprises at least $2.2 billion, allocated among stocks, bonds and cash instruments. Truth Social, managed via Trump Media & Technology Group, stands as the second-largest asset in the president's portfolio, surpassed only by his cryptocurrency investments. His stake of 115 million shares currently equates to roughly $2 billion at present market rates, the NYT report said.
The value remains theoretical until the shares are sold. Since taking office, the company's share price has notably decreased. At its highest point, his shareholding was valued at approximately $6 billion. (AI image)
According to Donald Trump’s 2024 financial disclosure statement, the president holds a substantial investment portfolio worth at least $236 million. The precise value remains unclear, owing to the broad ranges utilised in financial disclosure documentation.
A significant disclosure filing revealed his investment in a money-market fund exceeding $50 million, though without an upper boundary specified, preventing calculation of the total value of his investment portfolio. (AI image)
An examination by NYT of Donald Trump's prior year's financial records determined how his investments were allocated between bonds, cash and stocks.
Using the stated minimum values for each investment, bonds made up about 60% of the total portfolio, whilst cash and equivalent holdings accounted for approximately 30%, with stocks being less than 10%. Municipal bonds dominated the bond segment, representing nearly 80 per cent of bond investments based on minimum declared values.
His investment holdings across stocks, bonds and cash yielded at least $13 million in combined dividend and interest income over the previous year. (AI image)
Donald Trump’s Real estate and other business holdings: It's least $1.3 billion! Trump has an extensive real estate portfolio, which includes hotels, residential projects, golf courses and commercial buildings. Despite market variations, these assets remain central to his financial holdings.
The valuation of his property portfolio remains complex, with financial statements showing only approximate values. His current disclosure identifies 19 real estate assets valued above $50 million each, though specific maximum values are not provided. His combined property and business interests are valued at a minimum of $1.3 billion, not including Trump Media and World Liberty. (AI image)
Donald Trump royalty income: Through various consumer product licensing agreements, Donald Trump has generated significant income from royalty payments, encompassing items ranging from footwear to musical instruments. According to his financial records, these licensing contracts produced revenue of at least $11 million throughout 2024. (AI image)
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