Page 12 - Tariffs

Here's why India's confidence about Trump's trade tariffs is deluded

Indeed, if anybody nourished a vague hope that Trump would fail to impose tariffs on Indian exports, the man himself dashed them last week

Trump announces 25% tariff on nations buying Venezuelan oil and gas

Venezuelan crude has made up less than 1 per cent of all crude imports for India in FY25

Best of BS Opinion: Uncertainty rules in a world in flux

Thanks to President Donald Trump, not just the world but even the US Fed remains in a state of suspense over how his tariff-threats will pan out in the real world

Pakistan, IMF agree to cut average applied tariffs by 43% over five years

Pakistan and the IMF have made further adjustments to the economic liberalisation plan and agreed to cut weighted average applied tariffs to around 6 per cent a reduction of 43 per cent over five years in the protection level available to local industries, according to a media report. The International Monetary Fund (IMF) had long been raising concerns over the protection available to local industries, but Pakistani authorities were reluctant to open these areas. The country has the third-highest trade-weighted average tariffs in South Asia at 10.6 per cent. After the implementation of the full liberalisation plan, it will have the lowest weighted average tariffs in the region. A weighted average applied tariff is the average of effectively applied tariff rates, weighted by the value of imported goods to which they are applied. The final adjustments were made during a virtual meeting held on Thursday, The Express Tribune newspaper reported quoting government sources. It has been

A world much like the 1930s: Echoes of war, tariffs, and autocracy

But three key differences make today even more alarming

No country-specific or reciprocal tariffs imposed by the US yet, says GoI

Under the ambitious "Mission 500", India and the US aim to more than double bilateral trade to $500 billion by 2030 by expanding partnerships across multiple sectors

Tariffs and sanctions are now a reality in global trade, says S Jaishankar

The External Affairs Minister emphasised the growing weaponisation of economic activities, adding that financial flows, energy supplies, and technology are now being used in global competition

Govt assessing gains, challenges from US tariffs: Commerce secy Barthwal

Barthwal said govt is carrying out stakeholder consultations and assessing challenges, opportunities, and the broader impact of the additional tariffs imposed by the US on Indian exports

Trump vows to respond to EU's threat of counter tariffs on US goods

Trump said Ireland had used its tax policies to lure away pharmaceutical and other companies from the United States, but US reciprocal tariffs would help rebuild US manufacturing

How Canada is getting squeezed with tariffs by both Donald Trump and China

Canada's key industries - including agriculture, seafood, auto manufacturing, and energy - are bracing for economic fallout as US and China both impose increased tariffs

EU hits back at Trump tariffs with measures on $28 billion of US goods

US-EU trade dispute: The Trump administration recently imposed 25% tariff on European steel and aluminium imports

India imposing 150% tariff on US alcohol, 100% on agriculture goods: WH

While addressing a press briefing, Press Secretary Karoline Leavitt said that US President Donald Trump believes in reciprocity and wants to have fair and balanced trade practices

Piyush Goyal likely to visit US later this month with revised tariff offer

This could be the Commerce minister's second visit to US in less than a month

Centre finalising export schemes to shield exporters from US tariffs

Exporters are seeing the worrying trend of holding back orders due to anticipation of the fear of reciprocal tariffs by the US

China tightens trade rules as Canadian tariffs spark price volatility

China on Saturday shocked markets with a 100 per cent tariff to just over $1 billion of Canadian rapeseed oil, oil cakes and pea imports

Best of BS Opinion: Transparency is key to both democracy and global ties

Openness, reliability, and hope are critical to successful democracies and have a cumulative effect on both domestic and global ties

Trump tariffs unlikely to impact rising Indian textile exports, say experts

In terms of tariffs on textiles and clothing, while India imposes a 10.4 per cent tariff on US imports, the tariff for Indian importers in the US is 9 per cent

India's auto parts companies eye a bigger share of the export market

An ACMA-BCG report has targeted Indian auto component exports to hit $100 billion - nearly a fivefold increase from $21 billion currently

Trump's tariff tantrums: A looming threat that remains underestimated

As Mr Trump takes a wrecking ball to global trade linkages, the impact will be devastating

Govt levies 10% duty on masur, offers free import of yellow pea till May 31

The government has imposed a 10 per cent import duty on lentils (mosur) and extended the duty-free import of yellow peas by three months till May 31 this year to enhance domestic availability, according to a finance ministry notification. Through the notification, the government has imposed 5 per cent basic customs duty and 5 per cent Agriculture Infrastructure and Development Cess (AIDC) on lentils with effect from March 8. So far, the import of lentils has been exempt from duty. The government had initially allowed the duty-free import of yellow peas in December 2023 and subsequently extended it thrice till February 28. As per estimates, India's yellow peas import stood at 30 lakh tonnes out of 67 lakh tonnes of overall pulses imported during 2024.