{"id":52154,"date":"2025-08-21T11:38:58","date_gmt":"2025-08-21T15:38:58","guid":{"rendered":"https:\/\/stockmarketwatch.com\/stock-market-news\/navarro-ramps-up-trade-pressure-on-india-and-eu-doj-seeks-cooks-removal-amid-feds-inflation-fight\/52154\/"},"modified":"2025-08-21T11:38:58","modified_gmt":"2025-08-21T15:38:58","slug":"navarro-ramps-up-trade-pressure-on-india-and-eu-doj-seeks-cooks-removal-amid-feds-inflation-fight","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/navarro-ramps-up-trade-pressure-on-india-and-eu-doj-seeks-cooks-removal-amid-feds-inflation-fight\/52154\/","title":{"rendered":"Navarro Ramps Up Trade Pressure on India and EU; DOJ Seeks Cook&#8217;s Removal Amid Fed&#8217;s Inflation Fight"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>White House Trade Advisor Peter Navarro<\/strong> asserted that India&#39;s continued purchase of Russian oil is &quot;nonsense&quot; and accused the nation of being a &quot;laundromat&quot; for the Kremlin, announcing a <strong>doubling of tariffs on India by August 27<\/strong>.<\/li>\n<li>Navarro also outlined the <a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a> administration&#39;s trade stance on the <strong>European Union<\/strong>, advocating for maintaining <strong>tariffs on steel and aluminum<\/strong> while proposing a <strong>reduced 15% tariff on automobiles<\/strong>, down from 25%.<\/li>\n<li>A <strong>Department of Justice official<\/strong>, Ed Martin, has urged Fed Chair <strong>Jerome Powell<\/strong> to remove Governor <strong>Lisa Cook<\/strong>, indicating plans to investigate her over mortgage practices and stating her criminal referral requires further examination.<\/li>\n<li>Fed Governor <strong>Hammack<\/strong> stated there are <strong>no clear signs of a significant economic downturn<\/strong> and <strong>no imminent case for cutting rates<\/strong> based on current data, emphasizing the need to remain &quot;laser-focused&quot; on inflation, which remains the &quot;biggest concern.&quot;<\/li>\n<li>Apple (<a href=\"\/stock\/AAPL\">AAPL<\/a>) has increased its <strong>Apple TV+<\/strong> monthly subscription price by <strong>30%<\/strong> to <strong>$12.99<\/strong>, effective August 21.<\/li>\n<\/ul>\n<p>White House Trade Advisor <strong>Peter Navarro<\/strong> has intensified rhetoric against <strong>India<\/strong>, labeling its continued purchases of Russian oil as &quot;nonsense&quot; and accusing the country of acting as a &quot;laundromat&quot; for the Kremlin to hide funds. Navarro warned that tariffs on Indian goods are set to <strong>double by August 27<\/strong>, stating that India &quot;doesn&#39;t want to recognize its role in bloodshed&quot; and urging New Delhi to act as a strategic partner to the U.S. if it wishes to be treated as one.<\/p>\n<p>In separate remarks concerning the <strong>European Union<\/strong>, Navarro indicated that there is &quot;no deal more important&quot; than with the EU. He recommended maintaining existing <strong>tariffs on steel and aluminum<\/strong> while announcing a proposed <strong>15% tariff on autos<\/strong>, a reduction from the previous 25%. Navarro offered &quot;no comment&quot; regarding potential exemptions for EU wine.<\/p>\n<p>In domestic financial news, a <strong>Department of Justice (DOJ)<\/strong> official, <strong>Ed Martin<\/strong>, has called for the removal of Federal Reserve Governor <strong>Lisa Cook<\/strong>. Martin reportedly urged Fed Chair <strong>Jerome Powell<\/strong> to dismiss Cook, stating that her criminal referral &quot;requires further examination&quot; and that he plans to investigate her over mortgage practices.<\/p>\n<p>Meanwhile, Federal Reserve Governor <strong>Hammack<\/strong> provided an update on the economic outlook, stating that she does not see any signs of a &quot;notable economic downturn&quot; and believes there is &quot;no imminent case for cutting rates&quot; based on current data. Hammack emphasized that the Fed&#39;s policy is not far from a neutral stance and that there is &quot;no need for stimulative policy.&quot; Her &quot;biggest concern is inflation too high, trending up,&quot; and she stressed the importance of maintaining a &quot;modestly restrictive policy&quot; to lower inflation, noting that the full impact of tariffs may not be seen until next year. Hammack also highlighted that the unemployment rate remains one of the best economic indicators and noted that both sides of the Fed&#39;s mandate are under pressure.<\/p>\n<p>In corporate news, Apple (<a href=\"\/stock\/AAPL\">AAPL<\/a>) has increased the monthly price of its <strong>Apple TV+<\/strong> streaming service by <strong>30%<\/strong>, raising it to <strong>$12.99<\/strong>. The new price is effective starting August 21, though the annual subscription price for the service remains unchanged.<\/p>\n<p>In other developments, <strong>Chile&#39;s Finance Minister Marcel<\/strong> has reportedly resigned. Additionally, a court has overturned President <strong>Donald <a href=\"https:\/\/thestockmarketwatch.com\/live\/trump-stock-market\" data-internallinksmanager029f6b8e52c=\"8\" title=\"Trump\">Trump<\/a>&#39;s $464 million civil fraud penalty<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways White House Trade Advisor Peter Navarro asserted that India&#39;s continued purchase of Russian oil is &quot;nonsense&quot; and accused 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