Morning Digest: Amid global tumult, Rupee breaches 87 against dollar; U.S. pauses tariffs on Canada, Mexico as they pledge border enforcement, and more

The Hindu Morning Digest gives a select list of stories to start the day. Read the top news today on February 4, 2025

Prime Minister Narendra Modi is set to pay a two-day visit to the U.S. from February 12 to hold talks with U.S. President Donald Trump on a range of issues including trade and defence, people familiar with the matter said on Monday (February 3, 2025). As per the plan, Mr. Modi will travel to Washington D.C. after concluding his two-day visit to Paris, they said.

The Indian Rupee slumped almost 0.6% or 49 paise to breach the 87 mark against the U.S. Dollar on Monday, amid a meltdown for most emerging market currencies and stock markets across Asia and Europe on the first day of trading after President Donald Trump imposed higher tariffs on Canada, Mexico and China. The Rupee, which had crossed the 86 mark vis-à-vis the dollar on January 10, closed at 87.11 after slipping close to 87.3 during the day.

U.S. President Donald Trump on Monday (February 3, 2025) agreed to a 30-day pause on his tariff threats against Mexico and Canada as America’s two largest trading partners took steps to appease his concerns about border security and drug trafficking. The pauses provide a cool-down period after a tumultuous few days that put North America on the cusp of a trade war that could have crushed economic growth, caused prices to soar and ended two of the United States’ most critical partnerships.

Even as the Supreme Court awaits a forensic analysis of the audio tapes purported to implicate Manipur Chief Minister N. Biren Singh for his alleged role in the State’s ethnic conflict by a government laboratory, an analysis conducted by Truth Labs Forensic Services, a private non-profit, has said that comparisons with samples of Mr. Singh’s public speeches showed that there was a 93% probability that the voice in the leaked tapes was that of the Manipur Chief Minister. 

Campaigning for the February 5 Delhi Assembly polls ended at 6 p.m. on Monday (February 3, 2025). The triangular battle between the Aam Aadmi Party (AAP), the BJP and the Congress saw multiple rallies and campaigns by senior leaders, trying to convince the voters on the multitude of welfare schemes announced in their manifestos.

A group of BJP MPs from the tribal community filed a breach of privilege notice on Monday (February 3, 2025) against Congress parliamentary party leader Sonia Gandhi for using “derogatory and slanderous” words against President Droupadi Murmu. Led by BJP leader and former Union Minister Faggan Singh Kulaste, they met Rajya Sabha Chairman Jagdeep Dhankhar and sought disciplinary action against Ms. Gandhi, contending her remarks lowered the dignity of the office of the President.

The Opposition held protests in both Houses of Parliament on Monday (February 3, 2025) alleging mismanagement at the Maha Kumbh in Prayagraj where 30 persons were killed in a stampede on January 29. In the Rajya Sabha, the Opposition walked out in protest twice in the first half of the session while in the Lok Sabha, Question Hour was held amid pandemonium as Opposition members raised slogans.