DAILY FROM: AHMEDABAD, CHANDIGARH, DELHI, JAIPUR, KOLKATA, LUCKNOW, MUMBAI, NAGPUR, PATNA, PUNE, VADODARA WEDNESDAY, AUGUST 27, 2025, AHMEDABAD, LATE CITY, 20 PAGES BY UNNY LABOUR-INTENSIVE SECTORS FEAR JOB LOSSES Trump’s50%tariffskickintoday,export oftextiles,gemsandjewelleryworsthit Trade experts estimate merchandise exports could drop 40-45% in FY26 NCLAT judge recuses, claims pressure from ‘member of higher judiciary’ Justice Sharad Kumar Sharma EXPRESS NEWS SERVICE NEW DELHI, AUGUST 26 IN AN unprecedented order, a judicial member of the National CompanyLawAppellateTribunal (NCLAT)recusedfromacaseafter recording that “one of the most revered members of the higher judiciary of this country” had tried to influence the outcome. “Weareanguishedtoobserve CONTINUED ON PAGE 2 EXPRESS NETWORK ELEVATION OF PATNA HC CJ TO SC: JUSTICE NAGARATHNA DISSENTS PAGE 14 `5.00 ● WWW.INDIANEXPRESS.COM SINCE 1932 RAVI DUTTA MISHRA & SUKALP SHARMA NEW DELHI, AUGUST 26 WITHTHEUSdecidingtoimplement the steep 50 per cent tariffs on merchandise from India starting Wednesday, exports of low-margin and labour-intensive goods ranging from apparel, textiles, gems and jewellery to shrimps, carpets and furniture, aresettobecomeunviableinthe American market, jeopardising low-skilled jobs in India. EXPRESS NETWORK INDIA, U.S. HOLD 2+2 TALKS AMID TARIFF TENSIONS PAGE 14 WithTrump’snewtariffskickingin,tradeexpertsestimatethat the value of India’s merchandise exportstotheUScoulddropbyas muchas40-45%in2025-26compared with the previous year. Think-tankGlobalTradeResearch Initiative (GTRI) estimates prod- Don’t mean to leave out anyone when we say Hindu Rashtra: Bhagwat DEEPTIMAN TIWARY NEW DELHI, AUGUST 26 THE RSS imagination of Hindu Rashtra was neither in opposition to anyone nor does it intend to leave out anyone, the organisation’s chief Mohan Bhagwat said Tuesday. The Sangh chief said having a different opinion was “not a crime” and that while there was constant communication between the RSS and its swayamsevaks, they “graduallybecomeindependent CONTINUEDONPAGE2 GOODS SUBJECT TO 50% U.S. TARIFF ProductGroup Textilesandapparel Diamonds,goldandjewellery Machineryandmechanicalappliances Agriculture,meatandprocessedfood Steel,aluminium,copper Organicchemicals Shrimps Handicrafts Carpets Leatherandfootwear Furniture,bedding,mattresses $10.9bn $10bn $6.7bn $6.0bn $4.7bn $2.7bn $2.4bn $1.6bn $1.2bn $1.2bn $1.1bn Source: Ministry of Commerce & Industry, GTRI analysis NAMED BY U.S. IN PANNUN CASE Non-bailable warrant issued against former R&AW officer MAHENDER SINGH MANRAL NEW DELHI, AUGUST 26 Having a different opinion not a crime: RSS chief at the event in New Delhi. ANI ExportstoUS in2024-25 A DELHI court has issued a nonbailable warrant for Vikash Yadav, the ex-R&AW officer who was named by the US as a conspirator in an alleged plot to kill Khalistani separatist GurpatwantSinghPannun,andissueda notice to his surety. The court CONTINUED ON PAGE 2 uct exports to the US could fall to $49.6billionthisyearfromnearly $87 billion in 2024-25, as twothirds of exports by value to the US will be hit by 50 per cent tariffs, taking effective tariff rates to over 60 per cent in a few product categories. Around 30 per cent of exports to the US — valued at $27.6 billion in FY25 — will remain duty free as product categories like pharmaceuticals, electronics, and petroleum products havebeenexemptfromTrump’s tariffs,while4percentof theexports — mainly auto parts — will face a 25 per cent tariff rate. Meanwhile, competitors like CONTINUED ON PAGE 2 Govt looking into rare earth shortage, says PM; calls for ‘swadeshi’ PM VISIT AUGUST 29-30 On India-Japan table: Security to economy, energy to digital ties SHUBHAJIT ROY NEW DELHI, AUGUST 26 AS PRIME Minister Narendra Modi heads to Japan on August 29-30,thetwosidesareexpected to upgrade the 2008 Joint Declaration on Security Cooperation,launchaneconomic securityinitiativeonsemiconductors,ArtificialIntelligenceandcritical minerals, and increase the CONTINUED ON PAGE 2 E EXPLAINED BUSINESS AS USUAL JOURNALISM OF COURAGE Eye on US, ● China TIMED AHEAD of PM Modi's visit to China, India and Japan are expected to exchange notes on the US administration’s recent moves and the strategic outreach of China. PM Narendra Modi with Suzuki Motors president Toshihiro Suzuki (left), Maruti Suzuki India MD-CEO Hisashi Takeuchi and Gujarat CM Bhupendra Patel in Hansalpur. ANI SOUMYARENDRA BARIK & PARIMAL A DABHI HANSALPUR(GUJARAT),AUG26 ACKNOWLEDGING THE ongoing shortage of rare earth materials facedbyIndia’sautomobileindustry, Prime Minister Narendra Modi said Tuesday that the Government was working towards building national capacity in critical minerals and would soonlaunchexplorationmissions. “I am aware of the rare earth materials shortage, and we are trying to address it with the CONTINUED ON PAGE 2 Ahmedabad