It was not immediately clear, however, whether there had been a meaningful breakthrough in talks to stave off the imposition of sweeping tariff hikes on the United States' largest trading partner
The agreement slaps a 20 per cent tariff on Vietnamese exports to the US and a 40 per cent levy on goods deemed to be transshipped through the country
Asked if the mid-July deadline was set in stone, Trump suggested he could even shorten the timeline for trading partners seeking deals
In the aftermath of 'reciprocal tariffs' by the US, India should adopt dual-track approach and selectively reduce high tariffs on non-sensitive agricultural commodities imports from Washington, while also strategically offer concessions where domestic supply gaps exist, a NITI Aayog working paper has said. The Aayog in a working paper, titled 'Promoting India-US Agricultural Trade Under the New US Trade Regime', said that India's agricultural sector needs safeguards, to ensure price stability for both producers and consumers, against excessive volatility in international markets. "A dual-track approach is essential now. In the short term, India should consider to selectively reduce high tariffs on non-sensitive imports and negotiate non-tariff safeguards on vulnerable segments such as poultry," the paper said. It noted that sudden announcement of "reciprocal tariffs" and enhanced market access for US exports following re-election of Donald Trump as President of the United States in
The price of 22-carat gold declined ₹10, with ten grams of the yellow metal selling at ₹87,190
A 'zero-for-zero' tariff strategy under the proposed bilateral trade agreement between India and the US is unlikely, as the two countries are at different levels of economic development, official sources said. Certain trade experts have suggested that India can propose a 'zero-for-zero' tariff strategy to the US for addressing America's reciprocal tariff hikes. An official said that zero-for-zero tariffs can be possible between the US and the European Union (EU) as both are developed and advanced nations. The India-US agreement will always be a "package" deal that could include issues such as goods and non-tariff barriers, the official said adding "it does not happen like this that if he will do 'zero' in electronics, we will also do in electronics. Trade agreements do not happen like this. It is a wrong thinking". India and the US have been engaged in negotiating a bilateral trade agreement (BTA) since March. Both sides have targeted to conclude the first phase of the pact by fall
With Donald Trump's sweeping tariffs kicking in, India's key exports are now taxed at 26%, while China faces a staggering 104% levy-sparking fears of a global trade war
Trump's 27% tariff on Indian imports has been quietly revised to 26% after discrepancies in White House documents sparked confusion among trade watchers and officials
The Nifty Pharma index surged 2.25 per cent after the pharmaceutical sector was unexpectedly spared from reciprocal tariffs, at least for now
Trump's tariff gives Indian textile exporters an edge over competitors. Could this be a game-changer for India's apparel industry? Watch as we decode!
Trump hails PM Modi as a 'very smart man' and a 'great friend,' expressing confidence that India-US trade talks will resolve tariff issues for a mutually beneficial outcome
By smashing up the links holding the delicate non-Chinese supply chain together, Mr Trump is guaranteeing a future where Beijing rules the road
India needs another shot of difficult reform, of the kind only possible at gunpoint. Mr Trump holds that gun to our heads now
Trump warned US automakers not to raise prices in response to his latest 25 per cent tariff on imported vehicles and parts, despite industry concerns over rising costs and inflation
Will Trump's 25 per cent car tariff drive the auto industry into crisis as global leaders threaten retaliation and prices soar for consumers?
Among digital services, one of the contentious issues on the table is India's data localisation norms - cross-border flow of data - that have been a concern for American companies
India calculating impact of 25% duty on cars, auto parts; firms see hit on margins
Speaking to reporters at the White House, Trump said the United States would need all those products if there were problems including wars
They have demanded "removal of unfair trade barriers" so that it could significantly increase market demand and revenues for producers who have faced a difficult four years
The SJM is an economic think tank affiliated to the Rashtriya Swayamsevak Sangh