However, the commerce secretary did acknowledge that the tariffs would lead to higher prices for US consumers on foreign-made goods
The impact of a potential trade war with the United States and massive increases in European defence spending and government borrowing loom over a policy meeting Thursday at the European Central Bank, which is expected to cut interest rates by a quarter percentage point. Analysts are widely expecting a cut in the European Central Bank's (ECB) benchmark deposit rate to 2.50 per cent, a step to lower borrowing costs for consumers and businesses in an economy that's struggling to get out of first gear. The bank's monetary policy statement and post-meeting news conference by President Christine Lagarde will be scrutinised for hints about how far the bank will cut rates amid concerns about weak growth. The bank has already reduced the benchmark rate by 1.25 percentage points since June. Meanwhile new concerns that would massively reshuffle the economic picture are likely to intrude: the potential impact of new tariffs on European imports from US President Trump, which could slow growth,
Sensex Today | Stock Market LIVE Updates: In the broader markets, the Nifty MidCap index was holding gains, up 0.85 per cent, and the Nifty SmallCap index edged 1.19 per cent higher
Canada then announced immediate retaliatory measures on tens of billions of dollars worth of goods, prompting Trump to threaten even more tariffs
China has reduced its dependence on US farm imports, strengthening its trade war strategy through supply diversification, local production boosts, and food security policies
According to Ambreesh Baliga, an independent analyst, "It's essentially a pullback rally following a prolonged decline in the Indian market."
The uncertainty unleashed by Trump tariffs, analysts believe, is reigning supreme now, which is weighing on the markets. The ongoing chaotic scenario, new news and developments can trigger volatility.
US President Donald Trump defends tariffs, says India imposes over 100 per cent auto tariff, calls trade policies of EU, China, Brazil, Mexico, and Canada 'unfair'
From a steel standoff in 2018 to a lumber feud spanning decades, here's how US-Canada tariff battles have shaped trade relations over the years
Stock Market Today, March 4: Stock markets today may open gap-down as Donald Trump decides to go-ahead with tariffs on Canada and Mexico from today
Market Crash Highlights, Friday: BSE MidCap and SmallCap indices plunged over 2% each; Sectoral indices led by Auto and IT cracked up to 4% as Trump tariff threats weighed; HDFC Bank, however, rose 2%
The US action means the Chinese government will need to announce an additional stimulus worth 500 billion yuan ($69 billion) to 700 billion yuan to meet its growth targets
Trump has decided to move forward with the imposition of tariffs on Canada and Mexico, starting March 4 as the flow of illicit drugs into the US hasn't stopped
The Nifty 50 index has shed nearly 13% in the last five straight months, its longest losing streak since November 1996; equalling its second-worst ever in the 30-year history.
Sensex Today | Stock Market Highlights: The Indian equity markets will remain closed tomorrow, February 26, 2025, on account of Mahashivratri
South Korean officials have asked the Trump administration to exclude their country from US plans to impose aggressive tariffs on trade partners, emphasizing that Seoul is already applying low duties on American products under the free trade agreement between the two nations. South Korea's government on Friday said Deputy Trade Minister Park Jong-won made the request while travelling to Washington this week for meetings with unspecified officials from the White House, the Department of Commerce and the Office of the US Trade Representative. The South Korean Trade Ministry didn't say what Park heard from the Americans. Park cited how South Korean companies were contributing to the US economy through large-scale business investments and noted that the country was already imposing low duties on free trade partners such as the United States. He called for South Korea to be excluded from US plans to establish reciprocal tariffs with trade partners and raise duties for imported steel and .
Trump tariff news, Tesla India: US President Donald Trump said he would levy around 25-per cent import tariffs on automobiles, starting April 2, 2025
Around 72 per cent of those surveyed cited Trump's trade policies, including tariffs, as a key issue, while 26 per cent blamed worsening US-China relations, the survey found
It's not clear if Japan is also seeking an exemption from the auto tariffs as Trade Minister Yoji Muto didn't respond directly on Tuesday when asked about it
The Congress on Wednesday claimed that the talk of reciprocal tariffs by US President Donald Trump is calling into question a consumption tax like GST, and wondered whether his "good friend in New Delhi" would stand up to it when national sovereignty is at stake. Congress general secretary in-charge communications Jairam Ramesh said his party has long been calling for a GST 2.0 that will make GST a truly Good and Simple Tax, as it was intended to be. It has called for the barest minimum of rates and vastly reformed compliance rules, he said in a post on X. "Now President Trump is threatening the very existence of GST. By its very structure, GST is applicable to imports but not on exports. This has never been disputed," he said. Now all this talk of reciprocal tariffs by the US President is calling into question a consumption tax like GST, Ramesh claimed. "WTO apart, national sovereignty is at stake here. Will President Trump's good friend in New Delhi, who keeps trumpeting that he