Page 2 - Import Tariffs

Trade war or fair play? How Indian exporters are reacting to Trump tariffs

The Federation of Indian Export Organisations (FIEO), the apex body representing Indian exporters, acknowledged that the new tariffs would impact Indian businesses

Trump posts 'Liberation Day' hours before US rolls out reciprocal tariffs

The new duties are due to take effect immediately after Trump announces them, while a separate 25 per cent global tariff on auto imports will take effect on April 3

Trump's 'Liberation Day' tariffs to hit all nations starting April 2

Trump confirms global rollout of 'Liberation Day' tariffs from April 2, sparking concern over trade wars; India considers lowering import duties to avoid impact

Brokerages analyse US tariffs impact on economies, sectors and markets

Analysts at Barclays, meanwhile, estimate that nearly $22 billion worth of India's exports (30 per cent of exports to the US and 5 per cent of total goods exports) are most at risk

Market Today: Trump auto tariffs; NSE rejig; Nifty expiry; FII; IPO listing

In the previous session, the Sensex dropped 728.69 points (0.93 per cent) to close at 77,288.50, while the Nifty50 ended 181.8 points (0.77 per cent) lower at 23,486.85

Tata Motors, Motherson Sumi, others slip upto 7.5% on Trump 25% auto tariff

The fall in auto stocks came after the US President Donald Trump, on Wednesday, announced that he would impose a 25% tariff on all cars imported into the US that are not manufactured domestically

Exide Industries, Amara Raja Energy gain up to 5% in trade; here's why

The government decided to remove import duty on EV batteries and mobile phones to help local producers withstand the potential impact of reciprocal US tariffs

India considers tariff cuts on half of US imports to protect exports

In an internal analysis, New Delhi estimated such reciprocal tariffs would hit 87 per cent of its total exports to the United States worth $66 billion

Trump tariffs spark business uncertainty, says JPMorgan Chase's Jamie Dimon

JPMorgan Chase CEO Jamie Dimon's comments come as stock markets have been affected by changing tariff policies and investor confidence remains shaky amid trade tensions

China imposes retaliatory tariffs on import of Canadian farm, food products

China on Saturday announced retaliatory tariffs on some Canadian farm and food imports, after Canada imposed duties in October on Chinese-made electric vehicles and steel and aluminum products. The new duties become effective March 20, according to a statement by the Customs Tariff Commission of the State Council. Additional 100% tariffs will be imposed on Canadian rapeseed oil, oil cakes and peas, and additional 25% tariffs will apply to pork and aquatic products. The tariffs add to global trade tensions already high, with rounds of tariff announcements by the United States, China, Canada and Mexico. The duties come in retaliation for Ottawa imposing tariffs against Chinese imports in October, including a 100% surtax on all Chinese-made EVs and 25% on steel and aluminum imports. Despite China's repeated opposition and dissuasion, Canada has taken unilateral restrictive measures on electric vehicles, steel, aluminum and other products imported from China without investigation, ...

ArcelorMittal-Nippon warns import curbs may impact India production

ArcelorMittal Nippon Steel India, a 60-40 joint venture between Luxembourg-based ArcelorMittal and Japan's Nippon Steel, did not respond to a request for comment

House report reveals China's role in US fentanyl crisis, calls for action

Investigation reveals that nearly all illegal fentanyl ingredients are made by Chinese companies and then sent to Mexican drug cartels, which produce and distribute fentanyl in the US

Govt may raise vegetable oil import taxes again to support local farmers

The government would take into account the impact of the decision on food inflation, said another government source who also did not wish to be identified, citing official rules

US' reciprocal tariffs on Indian exports will have a limited impact: SBI

The latest report by SBI's Economic Research Department suggests that the overall bilateral negotiations between India and US could provide further collateral benefit to India

India plans to cut tariffs on 30 products to avoid US reciprocal duties

India may cut tariffs on over 30 products and boost US imports in defence and energy to avoid higher reciprocal duties from Washington, aiming to ease trade tensions and strengthen ties

Iran loosens import curbs on cars, iPhones in bid to mask its economic woes

All architecture student Amirhossein Azizi wanted for his 19th birthday was the latest iPhone and for Iran's cash-strapped theocracy, it was just the gift they needed as well. Just buying a top-of-the-line iPhone 16 Pro Max in Iran's capital cost him on the day 1.6 billion rials ($1,880). An additional 450 million rials ($530) is required for import fees and registration on government-managed mobile phone networks. I'm very happy to own one of the most expensive phones in the country," Azizi said. His father, Mohammad, laughed nearby and added: Maybe if they had to earn the money themselves, they wouldn't be so quick to spend it. The purchase is only possible after Iran lifted import bans on expensive goods like foreign cars and new iPhones, yielding to public demand for the products while also trying to mask the dire straits of its economy. While being described as a way to boost Iran's much-vaunted resistance economy," the decisions trapped Iranians into buying more affordable .

Budget's MSME, manufacturing push boosts paper sector; imports a concern

The Union Budget's focus on manufacturing and MSMEs is expected to boost demand for paper and packaging materials across multiple sectors and bodes well for the growth of the paper industry, a paper manufacturers' body said on Monday. The Indian Paper Manufacturers Association (IPMA) in a statement said the Union Budget lays a strong emphasis on boosting consumption, manufacturing and sustainability, which aligns well with the growth of the paper industry in India. The industry appreciates the government's continued focus on economic growth, which has a direct bearing on the demand for paper and packaging materials across multiple sectors, said IPMA President Pawan Agarwal. The Budget's thrust on the manufacturing sector, including MSMEs, will contribute to increased demand for paper-based packaging, an eco-friendly alternative to single-use plastic, it added. Policy incentives aimed at encouraging recycling, and the use of sustainable raw materials would further strengthen the Pa

India considering lowering tariffs on some high-end products from US

The potential tariff cuts come just a day after US President Donald Trump criticised India, China, and Brazil for imposing high tariffs

Sri Lanka lifts ban on vehicle import placed in 2020 due to pandemic

Cash-strapped Sri Lanka has officially lifted the ban on the vehicle import which was put in place in 2020 to ease the pressure on foreign exchange reserves due to the COVID-19 pandemic, authorities said on Tuesday. This will be with effect from February 1. President Anura Kumara Dissanayake has issued a gazette dated January 24 which ended the ban on vehicle imports imposed in early 2020 with the COVID outbreak. The ban was continued when Sri Lanka suffered its economic crisis triggered by forex shortage. In April 2022, Sri Lanka declared its first-ever debt default. Commenting on the lifting of the import ban the Cabinet spokesman and minister Nalinda Jayathissa said only trucks, buses and double cabs would be allowed in the first phase. President Dissanayake said last week that the government would allocate USD 1.2 billion for vehicle imports for the first phase. In 2019, before the ban came into force the island had spent USD 1.4 billion for vehicle imports. We will be wary

Tariffs could drive prices higher: Top Ikea retailer warns in Davos

Inflation and high interest rates have had a "damaging" impact on consumers over the past few years, Brodin said, adding that he saw demand improving