President Trump plans to meet with President Putin to discuss ending the war in Ukraine.
Plus, why have the U.S. tariffs effects been so mild so far?
And for Detroit, gas guzzlers reign supreme once again.
They're talking about a world in which they can shift some of these huge investments that they've made in EVs and putting some of that money into gas-powered vehicles,
V8s or SUVs or pickup trucks.
It's Wednesday, August 6th.
I'm Alex Osola for The Wall Street Journal.
This is the PM edition of What's News,
the top headlines and business stories that move the world today.
We begin this evening with the latest tariff news.
President Trump has signed an executive order imposing an additional 25 percent tariff on imports from India.
That's in response to the country's continued purchases of Russian oil,
a practice that India has repeatedly defended.
India condemned the new tariffs, calling them, quote, unfair, unjustified and unreasonable.
The latest levy, which would go into effect in 21 days,
comes on top of the 25% tariff on Indian imports Trump announced last week.
India now faces combined U.S. tariffs of 50%.
That'll bring it to the same level as the punitive tariffs imposed on Brazil,
which take effect today.
Last week,