US Tariffs

A bill seeking to impose 100 per cent tariffs on five countries, including India and China, for buying Russian oil, while exempting European nations purchasing gas from Moscow, was introduced in the US Senate with the support of over 60 lawmakers. The bill, introduced on Thursday, was conceived by Democrat Senator Richard Blumenthal and late Republican Senator Lindsey Graham. It is designed to deprive Russian President Vladimir Putin of revenue used to finance the war against Ukraine by imposing mandatory sanctions on Russia's political leadership, financial institutions, energy sector, and sanctions evasion networks. Blumenthal had said on Tuesday that the proposed legislation was aimed at imposing 100 per cent tariffs on five major purchasers of Russian oil -- China, India, Slovakia, Hungary and Azerbaijan. The text of the bill introduced in the Senate on Thursday imposes tariffs on imports from countries that are the world's top five purchasers of Russian crude oil or natural ga

The United States is imposing 25% tariffs on imports from Brazil after finding a range of what it deemed unfair trade practices by the world's 10th-biggest economy. The tariffs, which were first proposed last month, will take effect July 22. The order exempts some goods that are not produced in the US or that officials worry would disrupt supply chains. Exempted products include coffee, beef, oranges and orange juice, some oil and gas energy products and aerospace parts and components. The Office of the US Trade Representative concluded after a yearlong investigation that Brazil had a range of unfair trade practices, including lax anti-corruption enforcement and unfair tariffs of its own, among other practices seen as unreasonable and unfair. The US, however, has had a goods trade surplus with Brazil for years. US Trade Representative Jamieson Greer said in a statement that the action was necessary to ensure American workers and companies compete on a level playing field. "Exten

A proposed US Bill targeting buyers of Russian oil could disrupt India's energy security and trade, even as West Asia tensions threaten global oil supplies

A revised bipartisan US Senate bill proposes a 100 per cent tariff on imports from the five largest buyers of Russian oil and gas, including India, while allowing presidential waivers

India expects lower US tariffs after aligning forced labour import rules with global standards amid ongoing Section 301 trade investigations

The revised US Senate bill cuts tariffs on buyers of Russian oil-India, China, Slovakia, Hungary and Azerbaijan-from 500% to 100%, while expanding sanctions on Russia

India has prohibited imports of goods made using forced labour, issuing its first such notification as the US considers tariffs under a Section 301 investigation

New Delhi says USTR has not made an economy-specific case against India; offers dialogue to address specific concerns

A clear security doctrine is needed to ensure economic tools do not harm both the user and the target

India is set to challenge the proposed US tariffs on exports with the US Trade Representative next week, contending that the findings on forced labour are legally flawed and would affect American businesses and consumers. Representatives from the commerce ministry as well as industry bodies, such as APEDA, FICCI, CII and ACMA, are scheduled to present India's counter to the USTR proposal to impose tariffs at a public hearing on July 8. India has already, in written submissions, said that the USTR's findings do not take into account the country's robust domestic legal regime reflecting a structured and progressive approach combining statutory prohibitions, institutional mechanisms, and ongoing policy measures aimed at reducing vulnerability to forced labour. In its counter to the proposed tariffs, the Confederation of Indian Industry (CII) has said India's policy framework does not qualify as 'unreasonable' or 'discriminatory' under Section 301(b) of the Trade Act of 1974. The CII al

The US president said any country levying a digital services tax on American companies would face sweeping tariffs, escalating tensions with Europe despite progress on a broader trade deal

Commerce minister says agreement hinges on Washington providing tariff advantage against rival economies

India and the United States opened high-level trade talks on Tuesday aimed at salvaging and recalibrating a proposed bilateral trade agreement after changes in US tariff policy upended a framework negotiated earlier this year. Commerce and Industry Minister Piyush Goyal met US Trade Representative Jamieson Greer here as both sides sought to conclude an interim trade pact before July 24, when Washington's temporary 10 per cent tariff on imports from trading partners is due to expire. "Warm welcome to @USTradeRep Amb Jamieson Greer, @USAmbIndia Amb Sergio Gor and their delegation to @DoC_GoI. Looking forward to productive discussions on the bilateral trade agreement between (India & US)," Commerce and Industry Minister Piyush Goyal said in a post on X. Greer's two-day visit comes days after Prime Minister Narendra Modi and US President Donald Trump held their first meeting in more than a year on the sidelines of the G7 summit in France on June 17, injecting fresh momentum into trade

Commerce Minister Piyush Goyal says India does not negotiate trade agreements under deadlines as USTR Jamieson Greer arrives for talks on the interim trade deal

India should secure a trade deal with the US that preserves its export competitiveness amid uncertainty over Washington's evolving tariff regime

Commerce Minister Piyush Goyal said negotiations on the US trade deal are taking longer than expected due to a 50% tariff on Indian goods, while India continues to seek preferential market access

Why is India considering a sunset clause in its proposed US trade deal? Here's what the provision means and how it could help New Delhi navigate tariff uncertainty

US Trade Representative Jamieson Greer's trip to India this week may provide a preview of what countries with deals should expect

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

The US has proposed new tariffs on India and 53 other economies over concerns related to forced labour-linked imports. Could this impact the ongoing India-US trade talks?