US Tariff

The 10 per cent tariff imposed by the US on imports from India will increase the cost of Indian products in the American markets, though the overall impact should be viewed in the proper competitive perspective rather than through the headline tariff alone, according to exporters. The United States has imposed a 10 per cent tariff on goods imported from India and 16 other countries as part of its efforts to combat the use of forced labour in the production of such items. The Federation of Indian Export Organisations (FIEO) has stated that "while the additional 10 per cent Section 301 tariff imposed by the United States on imports from India will increase the landed cost of Indian products, the overall impact should be viewed in the proper competitive perspective rather than through the headline tariff alone". S C Ralhan, President, FIEO, said the fact that India has been placed in the lower 10 per cent tariff category, while several competing exporting nations including China, ...

The 10 per cent temporary tariff imposed by the US on imports from its trading partners, including India, is set to expire at 9:31 am (IST) on July 24, unless President Donald Trump's administration extends the measure or announces a new tariff regime. If no fresh announcement is made in the next few hours, imports from India and other US trading partners will revert to the tariff regime that existed before April 2, 2025, when no additional duty was in place. Trump, in April 2025, announced sweeping reciprocal tariffs on a number of countries, including on India (26 per cent). For example, a shirt exported from India, which attracted a 5 per cent Most Favoured Nation (MFN) duty in the US, has been subject to an additional 10 per cent tariff since February 24. If the temporary tariff expires on July 24 without being extended or replaced, the product will again attract only the 5 per cent MFN duty. The US, on Wednesday, said it will release the "final responsive action" on Section 30

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The issue currently pending is that our duties need to be lower compared to those of competing nations, said Piyush Goyal

Administration began processing refunds in April after the Supreme Court ruled that President Trump didn't have the authority to impose tariffs using the International Emergency Economic Powers Act

After the courts struck down the Donald Trump administration's reciprocal tariffs imposed under emergency powers, Washington turned to alternative legal routes

Goyal said large parts of the agreement had already been finalised and that discussions were currently focused on a few remaining issues

In a 2-1 decision last week, a US Court of International Trade panel found that President Donald Trump's use of Section 122 of the Trade Act of 1974 to impose the tariffs was invalid

Indian exporters are linked to about $12 billion of the total refunds. Textiles and apparel account for roughly $4 billion of that amount

A refund system for businesses that paid tariffs which the US Supreme Court ruled President Donald Trump imposed without the constitutional authority to do so is scheduled to launch Monday. Importers and their brokers will be able to begin claiming refunds through an online portal beginning at 8 am, according to US Customs and Border Protection (CBP), the agency administering the system. It is the first step in a complicated process that also might eventually lead to refunds for consumers who were billed for some or all of the tariffs on products shipped to them from outside the United States. Companies must submit declarations listing the goods on which they collectively put billions of dollars toward the import taxes the court subsequently struck down. If CBP approves a claim, it will take 60-90 days for a refund to be issued, the agency said. The government expects to process refunds in phases, however, focusing first on more recent tariff payments. Any number of technical facto

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The US plans tariffs of up to 100 per cent on imported medicines to reduce foreign dependence and boost domestic manufacturing, a move that could reshape global pharmaceutical supply chains

India's growing economy and massive infrastructure needs align perfectly with American expertise in energy, advanced manufacturing and digital infrastructure and both sides are well-positioned for a 'win-win' expansion of their strategic economic pillar, US Ambassador Sergio Gor has said. The envoy said the two countries are prioritising building resilient supply chains for semiconductors and critical minerals, and welcomed New Delhi joining the US-led 'Pax Silica' initiative, which aims to secure these networks amid intense competition from China. In an interview to Span magazine, a US embassy publication, the ambassador said Washington is uniquely positioned to serve as the "main facilitator" of economic growth across South and Central Asia and that its proposed trade deal with India will create a "powerful anchor" for regional economic integration. Elaborating on the US' defence and security cooperation with India, he said it represents the "most strategically significant" area o

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President Donald Trump is scrambling to replace the revenue the federal government lost when the Supreme Court struck down his biggest and boldest tariffs last month. If the effort succeeds, congressional Democrats warn in a study out Friday, the administration's import taxes will cost American households an average of $2,512 in 2026, up 44% from $1,745 in tariff costs last year. And this at a time when U.S. consumers are already angry over the high cost of living and the war with Iran is pushing up energy prices. "Despite a Supreme Court ruling that much of Trump's tariff agenda is illegal, the Trump administration refuses to provide relief for families," said Sen. Maggie Hassan of New Hampshire, the top Democrat on the Joint Economic Committee. "As American families continue to struggle with high costs, the President keeps choosing to institute new tariffs that will push prices even higher." Calling the study "phony," White House spokesman Kush Desai said "President Trump will ...

Waaree Energies gains after management clarifies 126% US tariff does not apply.

Shares of affected companies reacted positively, including Europe's luxury brands from LVMH to Hermes and Italian luxury outerwear group Moncler, all of which rose after the ruling