Tariffs

US sanctions Bill: India says energy security for 1.4 bn people a priority

The legislation gives President Donald Trump discretion to impose tariffs of up to 100 per cent on major buyers of Russian energy, including India, but does not trigger them automatically

EU steel quota opens 2.8 million tonnes export window for India

India secures 1.9 mt country-specific quota as EU steel safeguard regime imposes 50% tariff beyond duty-free limits

India secures 2.8 million tonnes European Union steel quota: Official

India has received country-specific tariff-rate quota of 1.9 million tonne (MT) annually for steel exports to the European Union, while the government expects exporters to secure another 0.9 MT through residual quotas, taking the total to 2.8 MT, a commerce ministry official said on Thursday. With this, India has secured over 80 per cent of its exports to the European Union (EU). Last fiscal, India exported about 3 MT of steel goods. The Tariff-Rate Quota (TRQs) follow the European Union's Steel Overcapacity Regulation, which came into force on July 1 this year. It is aimed at ensuring protection for the EU's steel industry against the effects of global overcapacity. It sets free-of-duty quotas at 18.3 MT, with a 50 per cent duty for out-of-quota imports and a melt-and-pour regime to enhance transparency. As the regulation is in place from July 1, Indian exporters have already started availing the quota and shipping steel to the 27-nation bloc, the official said, adding that "free .

US House passes Russia sanctions bill; 100% tariff threat looms over India

The US House of Representatives passed a bill that would authorise President Donald Trump to impose sanctions on Russia and steep tariffs on its trading partners in oil and gas, including India and China. The Lindsey O Graham Sanctioning Russia and Iran Act of 2026, passed by the US Senate last month, was approved by the House in a 262-159 vote on Wednesday evening and will now go to Trump to be signed into a law. Besides 203 Republicans, 58 Democrats and one Independent voted in favour of the legislation. Seven Republicans and 152 Democrats opposed it. Democratic opposition largely centered around the tariff authorities provided to Trump. The bill is named after Senator Lindsey Graham, the South Carolina Republican who died in July after spending more than a year building support for it. "What we're not for is giving more tariff authority to this president," Congressman Richard Neal, a Democrat, said during debate on the bill. The bill seeks to impose sanctions not only on Russi

Open up for business

India must address trade barriers

Best of BS Opinion: Sustainable strategy needed for sugar and ethanol

Today's Best of BS Opinion examines rising sugar prices, AI-led credit assessment, global trade dualism, mounting US fiscal risks and China's reshaping of collective memory.

Datanomics: India's trade surplus with US declines after tariffs

India's trade surplus with the US fell 28% to $31.2 billion in 2025-26 as tariffs hit exports of key goods and imports increased

$115/bbl: CareEdge pegs oil level seen turning OMCs' operating profit red

The ratings agency estimates that an integrated OMC's operating profit would turn negative at around $115 a barrel, assuming no further increase in petrol and diesel retail prices.

Trump's tariff playbook: India must continue to engage with the US

Tariffs are central to Mr Trump's economic agenda and are also an instrument of choice to address other issues, including geopolitics

Glenmark, Biocon, Aurobindo slip 3% on Trump's generic drug tariff plan

The US President Donald Trump announced a proposal to impose phased tariff (up to 200%) regime on imported generic medicines aimed at encouraging pharmaceutical manufacturing within the United States.

India questions US tariff proposal on forced labour at USTR hearing

India has flagged inconsistencies in the US approach to tariffs at a public hearing on the US Trade Representative's (USTR) proposal to impose levies on goods linked to forced labour. Testifying before a USTR panel on Wednesday, Brij Mohan Mishra, Joint Secretary in the Ministry of Commerce, pointed out that the US exempts 1,600 items that cannot be produced or grown within the country from scrutiny of forced labour. "What we submit is that the exemptions provided by the USTR not only undermine the policy rationale of addressing forced labour impact in the global supply chain but also of preventing such impact caused by circumvention practices," Mishra said, in response to questions from the USTR panel. He also flagged that the US levies reduced tariff rates on exports of textile products manufactured using US cotton and related items. "By providing reduced tariff rates on the basis of imports of US-origin textile inputs, the textiles mechanism operates as an arbitrary requirement

Trump tariff defeat is market tailwind 'no one is talking about'

Analysts say refunds of tariffs struck down by the US Supreme Court could boost corporate earnings, cash flows and shareholder returns, even if the benefit is one-off

A year of tariffs: Donald Trump's trade policy impoverishes US workers

New evidence from economists at Morgan Stanley sheds light on how US firms that are exposed to tariffs are changing their behaviour

Trump's trade chief says new tariffs can fit within existing deals

The EU and US agreed to a free-trade deal in July that would see the bloc erase levies on US industrial goods in exchange for a 15 per cent tariff ceiling on its exports

Engaged with US on Section 301 probe over forced labour concerns: Govt

India is engaged with the US on the Section 301 investigations over concerns related to forced labour and excess industrial capacity, the government said on Wednesday. The country is also "parallelly" engaged with the US for finalisation of an interim trade agreement, a framework for which was announced through a joint statement on February 7. The Office of the United States Trade Representative (USTR) launched two separate Section 301 investigations on March 11 and 12, 2026, covering 60 economies over concerns related to forced labour and excess industrial capacity. The USTR on June 2 issued its findings in the forced labour investigation and proposed additional tariffs on imports from 60 economies. The proposal includes a 10 per cent tariff on imports from Canada, Ecuador, the European Union, Indonesia, Mexico, and Pakistan, and a 12.5 per cent tariff on imports from 54 other economies, including India and China. Pakistan and Indonesia are India's competitors in the trade front.

India must challenge proposed 12.5% US tariff under Section 301 probe: GTRI

The proposed 12.5 per cent tariff on India by the US Trade Representative (USTR) under Section 301 investigations goes beyond the scope of the provision, and New Delhi should challenge the ambit of the probe, think tank GTRI said on Wednesday. The 12.5 per cent tariff exceeds the USA's WTO commitment. The US Trade Representative has proposed to impose 12.5 per cent additional duties on 54 countries, including India, for failing to prohibit the import of goods produced with forced labour. The action follows investigations launched against 60 countries over what the USTR described as their failure to impose and effectively enforce bans on imports made with forced labour. "The current investigation exceeds the scope of Section 301, which deals with market-access barriers faced by the US firms in the country being investigated and not what it imports and from where", the Global Trade Research Initiative (GTRI) said. It added that the investigation is not based on allegations that Indi

Approx $20.6 billion of tariff refunds on way to importers: US govt

However, the govt's latest declaration to the US Court of International Trade also included an admission of a significant error in its last report to federal judge overseeing the tariff refund process

Real challenge beyond tariffs: Technology and compliance capability

New global trade reports highlight that technological capability and regulatory compliance - not just tariffs - are becoming the key drivers of trade competitiveness

Donald Trump threatens China with 50% tariffs if it sends arms to Iran

The US president said his threat to impose 50% tariffs on goods from countries that sold weapons to Iran was aimed at China. Trump told Fox News' "Sunday Morning Futures" that has heard reports of China giving anti-aircraft "shoulder missiles" to Iran. He played down the possibility of China supplying weapons to Iran, but said their goods would be taxed if they did. "I doubt they would do that, because I have a relationship, and I think they wouldn't do that, but maybe they did a little bit at the beginning," Trump said. "But if we catch them doing that, they get a 50% tariff.

Is the world going to tariff Big Tech as WTO shifts digital trade rules?

Internet has been tariff-free for decades; if that changes, it's because the world has decided it can't allow the US to run its digital empire forever