Page 3 - Global Trade

Global trade could shrink by 3% due to tariffs imposed by US: UN economist

Global trade could shrink by three per cent and exports could see a shift from markets such as the US and China to India, Canada and Brazil due to tariffs imposed by the US, a top UN economist has said. US President Donald Trump unveiled a massive tariff plan last week. The White House later announced a 90-day pause on reciprocal tariffs for most countries except China, which in turn decided to impose 125 per cent tariffs on US imports. Global trade could shrink by 3 per cent, with significant long-term shifts in trade patterns and economic integration," International Trade Centre Executive Director Pamela Coke-Hamilton said in Geneva on Friday. "For example, exports from Mexicowhich have been highly impactedare shifting from markets such as the US, China, Europe and even other Latin American countries, with modest gains instead in Canada and Brazil, and to a lesser extent, India, she said. Similarly, Vietnamese exports are redirecting away from the US, Mexico and China, while ...

Could Trump's tariffs slow emissions? Sure, experts say, but at great cost

President Donald Trump's sweeping global tariffs have stirred widespread anxiety about a severe economic downturn -- and curiosity, for some, about how it might affect the world's warming climate. Experts say a slowdown in international trade might have a brief and slight benefit in reducing greenhouse gas emissions, which come in part from fuels like gas and oil that are used to move goods around the world via ships, planes and vehicles. But any such benefit in reducing emissions, which cause climate change, will be swamped by sharply rising costs worldwide that will hurt efforts to transition to green energies. I would say it might help the climate in the first year or two if we have a downturn in economic activity or a recession, which no one wants, said Rob Jackson, head of the Global Carbon Project, a group of scientists who monitor greenhouse gas emissions yearly. But it will hurt the climate long-term because tariffs impact clean tech more than most other industries because o

Trump floats possible exceptions to 10% baseline tariff amid trade turmoil

Trump's comments capped a tumultuous week for equity and bond markets and threaten to inject more uncertainty for countries, investors and businesses grappling with his trade policies

Fear of Trump's trade war sends US consumer sentiment plunging

US consumer sentiment plunged in April, the fourth consecutive month of declines, in a seemingly sharp rebuke of President Donald Trump's trade wars that have fuelled anxiety over possible job losses and rising inflation. The preliminary reading of the University of Michigan's closely watched consumer sentiment index, released Friday, fell 11 per cent on a monthly basis to 50.8, the lowest since the depths of the COVID-19 pandemic. Over the past year, sentiment has tumbled 34 per cent. The decline was pervasive and unanimous across age, income, education, geographic region, and political affiliation, said Joanne Hsu, director of the survey. The share of respondents expecting unemployment to rise in the coming months increased for the fifth straight month and is now the highest since 2009 during the Great Recession. While consumer sentiment is not always a reliable indicator of the overall economy, it has at times reflected shifting vibes in how the public feels about presidential .

Trump trade war with China revives recession, bear market fears

Battered global markets and anxious global leaders welcomed Wednesday's reprieve when Trump suddenly decided to freeze most of his hefty new duties for 90 days

India too big to be used by US against China, says economist Jeffrey Sachs

Jeffrey Sachs warns India against US geopolitical strategies amid trade war triggered by Trump tariffs

Trump adviser gives nations list to correct 'unfair' global system

Trump economic advisor Stephen Miran called on nations to take greater responsibility in providing global stability

Trump tariffs could slow euro growth by up to 1%, says Greek central banker

Comments come against the backdrop of European Union countries weighing approval of a first set of targeted countermeasures on up to $28 billion of US imports in coming days

This is how Asia Pacific is responding to Trump's reciprocal tariffs

Trump's 10 per cent baseline tariffs take effect, steeper duties start on April 9

Billionaires Ackman, Druckenmiller call Trump tariffs a 'mistake'

The widening criticism - including from Trump ally Ackman - came as Trump offered no indication he was prepared to claw back a punishing trade overhaul set to begin on April 9

Over 50 countries have reached out for tariff talks, say Trump advisors

Top administration officials said Sunday that more than 50 countries targeted by President Donald Trump's new tariffs have reached out to begin negotiations over the sweeping import taxes that have sent financial markets reeling, raised fears of a recession and upended the global trading system. The higher rates are set to be collected beginning Wednesday, ushering in a new era of economic uncertainty with no clear end in sight. Treasury Secretary Scott Bessent said unfair trade practices are not "the kind of thing you can negotiate away in days or weeks. The United States, he said, must see what the countries offer and whether it's believable. Trump, who spent the weekend in Florida playing golf, posted online that WE WILL WIN. HANG TOUGH, it won't be easy. His Cabinet members and economic advisers were out in force Sunday defending the tariffs and downplaying the consequences for the global economy. There doesn't have to be a recession. Who knows how the market is going to react i

Congress can block Trump's tariffs, but Republicans aren't ready to use it

As stock markets tumble in the aftermath of President Donald Trump's sweeping tariffs, Republicans in Congress were watching with unease and talking of clawing back their power to levy tariffs but almost none seemed ready to turn their words into action. The Republican president is upending longstanding GOP principles like support for free trade, yet despite clear misgivings and a Constitutional mandate to decide tariffs, most lawmakers were not ready to cross Trump. Instead, they were focusing all their attention on advancing the president's" big, beautiful bill of tax breaks and spending cuts, even as tariffs in essence, import taxes threatened to raise consumer prices across the board and push the global economy into a recession. As the fallout from Trump's announcement reverberated around global markets, Senate Majority Leader John Thune, who has made it clear he is no fan of tariffs, told reporters that he would give Trump "the benefit of the doubt in hopes that the ...

US tariffs risk slowing global growth significantly: ADB chief economist

US tariffs impose substantial levies on trading partners, including Southeast Asian nations, with Vietnam, Laos and Cambodia facing some of the highest rates

US reciprocal tariffs: Implications for India's global trade partnerships

India is concerned specifically about the reciprocal tariffs the US has threatened to impose on April 2

Industrial goods tariffs be India's focus during trade talks with US: GTRI

Both sides hope to finalise the first tranche of the agreement by the fall of 2025

FTA negotiations: India playing it on the front foot against New Zealand

With elections likely later this year, and given India's influence in the Indo-Pacific, a trade deal is important for the island nation, even more given the turmoil in global trade

India to drive 6% of world trade growth in 5 yrs, 3rd to US, China: Report

DHL Trade Atlas 2025 report reveals that global trade growth continues to show resilience despite geopolitical tensions and trade policy uncertainty

India, New Zealand restart FTA negotiations after a 10-year hiatus

The announcement coincides with New Zealand Prime Minister Christopher Luxon's visit to India

New quality norms for steel parts may hurt small manufacturers: Think tank

Steel fasteners are critical for stability, durability, and safety across various industrial sectors

Govt mulls incentives for exporters amid global trade uncertainty

The government is considering additional incentives for exporters to arrest the decline in India's exports and mitigate the potential impact of reciprocal tariff threats by the Donald Trump administration, sources said. Though the government is yet to formulate the exact form of incentives to be given, the Rs 2,250 crore Export Promotion Mission announced in the Budget has room for flexibility in providing more incentives as the schemes are yet to be notified, they added. India's merchandise shipments witnessed a decline in value terms in the three months between November and January. Merchandise exports were USD 36.43 billion in January compared to USD 37.32 billion a year ago. In December, it stood at USD 38.01 billion against USD 38.39 billion in December 2023, while its outward shipments declined to USD 32.11 billion in November 2024 from USD 33.75 billion in the year-ago month. Commerce and Industry Minister Piyush Goyal is expected to hold discussions with export promotion ..