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Good evening, There’s something intriguing about Shubman Gill on this England tour. It’s not just the volume of runs he’s seemingly accumulating effortlessly, but also a confirmation of minor technical tweaks that allow him to do so. As my colleague Sriram Veera details extensively, what has become clear on this tour is how assured Gill is on his front foot, specifically overcoming a common obstacle: the slow transfer of weight. The move to England’s fast bowlers, as Gill demonstrated in Leeds and Birmingham, has been quite decisive, particularly early in his innings. As Veera notes, this has helped to influence other elements of his game, such as his hand positioning. Unsurprisingly, the runs have started to come steadily. On that note, let’s dive in 👇🏽
📝 The Debrief
As Donald Trump’s July 9 tariff deadline nears, things are still up in the air 🤷
A somewhat jittery countdown to US President Donald Trump’s July 9 tariff “deadline” has begun, and now a new date – August 1. On Monday, Trump sent the first tranche of “letters” to the heads of state of 14 countries, including close US allies and trading partners such as Japan and South Korea. Other countries on the list include Bangladesh, Bosnia and Herzegovina, Cambodia, Indonesia, Kazakhstan, Lao People’s Democratic Republic, Malaysia, Serbia, South Africa, Thailand, and Tunisia. A little less: The tariffs, which Trump clarified, were lower than his April 2 “reciprocal tariffs” announcement and ranged between 25% and 40%. This is in addition to the 10% baseline tariffs and other sectoral ones announced earlier. However, Trump left the door open for further negotiations with these countries, particularly with Japan and South Korea, as they attempt to hash out a deal before August 1. A little more: For Japan and South Korea, this is a significant blow, given that they are the second and third-largest trading partners for the US, respectively. Japan, in particular, will be more aggrieved, given that direct investment from the country to the US has been the highest for at least half a decade, reaching $783.3 billion in 2023. In Japan’s case, the April 2 tariffs were at 24% and increased by 1% to 25%. Much like India, Japan has been cautious about protecting its agricultural production, particularly rice, which the US wants it to import more of. And then, there’s the other impediment: automobiles, which Trump has been rather vocal about, where American cars don’t sell as well as Japanese car exports to the US. ASEAN thrust: Trump’s letters have targeted six countries in the ASEAN bloc with 40% tariffs, primarily because of growing transshipments from China. In the letters, Trump has explicitly stated that “Goods transshipped to evade a higher Tariff will be subject to that higher Tariff.” These are countries where China has established a strong presence, either through deepening economic and industrial integration (Cambodia) or increased investment. The region (and the bloc) also has a free trade area with China, dating back to 2002. However, there is an exception: Vietnam, which managed to bag a “deal” with the US that included a 20% tariff on Vietnamese imports and duty-free market access for American goods. The India question: New Delhi will be relieved at not receiving a “letter”, even as the final nuts and bolts of an interim deal are being finalised. Trump himself expressed some optimism on Monday evening (Tuesday morning IST), saying that the US was “close to signing a deal with India.” This follows India’s trade negotiators returning home on Friday, where India may have loosened its positions slightly by offering substantial market access to US products in sensitive sectors, including dairy and agriculture, in an effort to secure a deal. The curveball, however, comes with Trump now threatening to impose additional tariffs on BRICS nations if they pursue what he called “anti-American” policies.
✍️ From our newsroom
Gamechanger: I recently picked up a pair of Sony earbuds after my three-year-old AirPods flamed out. But after I started using it (and no product placement here), I couldn’t stop thinking about why the Japanese electronics giant is so good at building stunning audio products. Well, its roots go back to 1979 with the Walkman, after Sony cofounder Masaru Ibuka wanted to listen to classical music on long flights. How’s that for an origin story? My colleague, Mira Patel, writes about how the Walkman transformed music into a personal affair. If you are a fan of consumer electronics backstories, this is quite a good one, and note the Steve Jobs anecdote. Read on.
🔎 Need to know
It's not on: New York-based trading firm Jane Street has slammed Indian market regulator Sebi’s order against it, terming it “extremely inflammatory.” Jane Street also plans to contest the order legally.
Doubling down: Israeli Prime Minister Benjamin Netanyahu said he had nominated US President Donald Trump for the Nobel Peace Prize. Netanyahu’s nomination follows a similar move by the Pakistani government last month, which cited his “decisive diplomatic intervention” in the aftermath of the India-Pakistan conflict in May. Fresh take: Social media giant TikTok is developing a new version of its app for U.S. users in the lead-up to an expected sale. TikTok could launch the app in the US on September 5, according to The Information.
🎙️Expresso Playlist
In today’s Playlist, I’ll recommend this miniseries I’ve been binging from The Rest is History. It examines the Irish War of Independence, from the rise of the Irish Republican Army to the Anglo-Irish Treaty of 1921. If you are a history nerd, this podcast is a must-listen, anyway.
✋🏽 One last thing
I’ll recommend this excellent story in The New Yorker on the changing dynamics between the United States and NATO, especially in the Trump era.
Until tomorrow, Venkat Ananth |
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