Page 15 - Tariffs

Impact of July's tariff hike by telcos almost over, analysts believe

While overall subscriptions are down, active subscribers have risen since July

Inflation, tariffs & conflicts: Risks stack up for global economy in 2025

In richer economies, governments need to work out how to counter the conviction of many voters that their purchasing power, living standards and future prospects are in decline

Trump adds Europe to list of US trade partners facing tariff threats

President-elect Donald Trump on Friday added the 27 countries that make up the European Union to the list of trade partners he's threatening with tariffs unless the group takes steps to import more US goods. I told the European Union that they must make up their tremendous deficit with the United States by the large scale purchase of our oil and gas, Trump posted shortly after 1 a.m. on social media. Otherwise, it is TARIFFS all the way!!! In 2023, the United States' trade imbalance with the EU on goods was USD 209 billion, according to the Census Bureau. There were USD 576 billion in imports from Europe and USD 367 billion in exports from the United States. Trump's transition team did not respond to questions seeking greater clarity on the message, which for all its bluntness was unclear on next steps. When Trump threatened Canada and Mexico with 25 per cent tariffs in November, the leaders of both countries spoke with him to try and resolve any tensions. But the European Union .

EU deal and Donald Trump tariff threats bolster Mercosur trade talks

Topping the list of Mercosur's most likely new trade pacts next year are deals with the European Free Trade Association of four non-EU nations

India prepares for possible trade talks with US after Trump takes office

While aiming to protect its manufacturers from potential US tariff hikes on its exports, India is exploring ways to strengthen ties with Washington

'India charges a lot': Donald Trump threatens 'reciprocal' tariffs

Trump's remarks on India, made just weeks after he pledged to increase tariffs on imports from Mexico, Canada, and China

Won't do business with countries that don't accept back migrants: Trump

US President-elect Donald Trump outlines aggressive immigration policy, promises mass deportation using military force, trade sanctions on uncooperative nations

US raises tariffs on Chinese solar wafers, polysilicon, tungsten imports

The Biden administration plans to raise tariffs on solar wafers, polysilicon and some tungsten products from China to protect US clean energy businesses. The notice from the US Trade Representative's office said tariffs on Chinese-made solar wafers and polysilicon will rise to 50% and duties on certain tungsten products will increase to 25%, effective on Jan. 1, following a review of Chinese trade practices. The tariff increases announced today will further blunt the harmful policies and practices by the People's Republic of China," USTR Katharine Tai said in a statement. "These actions will complement the domestic investments made under the Biden-Harris Administration to promote a clean energy economy, while increasing the resilience of critical supply chains. Last week, Washington tightened restrictions on Chinese access to advanced semiconductor technology. Beijing responded by banning exports to the US of certain critical minerals needed to make computer chips, such as gallium,

'Pressure' from India Inc to raise duties: Industry secretary Bhatia

India has also been working to finalise free trade agreements (FTAs) with countries like the United Kingdom (UK) and trade blocs like the European Union, facing immense pressure to reduce tariffs

Need to see why industries seek high duties despite tariff cuts: DPIIT secy

India has reduced its tariffs significantly over the years, bringing them down to the world average level, yet the domestic industries continue to suggest increasing the duties, a senior government official said on Wednesday. Secretary in the Department for Promotion of Industry and Internal Trade Amardeep Singh Bhatia said that it needs to be examined why such requests come. "On the export market side and integration with the (global) supply chains, there is also a lot of work which has been done in terms of reduction in tariff, the weighted tariff has come down substantially and it is almost at the world average level. But of course, there are pressures that it should be increased by the domestic industry, which we need to look at why these requests keep coming up. Why are we not competitive enough," he said. India has also free trade agreements with different countries to push exports. The Secretary was speaking at CII's Global Policy Forum 2024. Cut in customs duties on raw ..

Adani's solar contract has lower tariff, can find new buyer: Analysts

Adani Group's solar power contract, which is at the centre of bribery allegations, has tariffs that are lower than competition and can find new buyers in case the pact is cancelled, according to analysts. US authorities have charged Adani Group Founder-Chairman Gautam Adani and others for being part of a scheme to offer USD 265 million bribe to Indian officials to gain a contract to supply 8 gigawatt of electricity generated from solar energy by Adani Green Energy Ltd (AGEL). The group has denied all charges. "If Adani promoters are found guilty, we believe the size of potential penalty is manageable given it is up to three times the value of the bribe," Nomura said in a report. The brokerage said there are about 1.8 GW solar projects commissioned in Gujarat from February-March 2024, with tariff of Rs 2.42 per unit under the 25-year power purchase agreements (PPAs). These operational projects are running under 5 special purpose vehicles, namely Adani Green Energy Twenty Four A Ltd

Kerala govt hiked power tariffs to benefit Adani, alleges Opposition

Senior Congress leader Ramesh Chennithala on Saturday accused the Kerala government of hiking the electricity tariff "to benefit ports-to-energy conglomerate Adani" by bringing it into the power purchase system in the state. Chennithala alleged that the long term power purchase agreement signed during the UDF administration in 2016 to buy electricity at rates below Rs 5 per unit was cancelled during the LDF rule to facilitate the entry of Adani into this system. The Kerala government had on Friday announced a 16 paise per unit increase in electricity tariffs for the 2024-25 financial year, effective from December 5. An additional hike of 12 paise per unit is set to follow in the 2025-26 financial year. The Congress leader said this move of the government makes it clear that it was hand-in-glove with the power producing companies, especially Adani. "Adani is the biggest beneficiary of this move. This decision of the government is aimed at bringing Adani into the power purchasing sys

Will think on retaliating if hit by Trump tariffs, says UK minister

Trump has floated blanket tariffs of 10 per cent 20 per cent on virtually all imports

Had an excellent conversation with Trump, says Trudeau after Florida meet

Canadian Prime Minister Justin Trudeau said Saturday he had an excellent conversation with Donald Trump at his Mar-a-Lago club after the president-elect's threat to impose significant tariffs on two of America's leading trade partners raised alarms in Ottawa and Mexico City. It was unclear, as Trudeau headed back to Canada from Florida, whether the conversation had alleviated Trump's concerns. A person familiar with the details of the leaders' hastily arranged meeting Friday night said it was a positive wide-ranging dinner that lasted three hours. The official, who was not authorised to discuss the matter publicly and spoke to The Associated Press on condition of anonymity, said topics included trade, border security, fentanyl, defence, Ukraine, NATO, China, the Mideast and pipelines, as well as the the Group of Seven (G7) meeting in Canada next year. The Republican president-elect has threatened to impose tariffs on products from Canada and Mexico if the countries don't stop what h

Asia to benefit from cheaper Canadian, Mexican oil if Trump imposes tariffs

The United States accounts for 61 per cent and 56 per cent of crude exports from Canada and Mexico

Adani bribe row: If no takers, bidders can cut tariff suo motu, says SECI

Communication between SECI and some states suggest tariff was lowered by Adani and Azure after it became tough to find buyers at a price considered expensive

Here's why Nifty Metal index rose over 1% on November 26; details inside

At 11:52 AM, 12 of the 15 stocks in the Nifty Metal Index were trading in the green, while three remained in the red

US Commerce Dept raises import tariff for Nippon Steel after review

The Commerce Department imposed a dumping margin of 29 per cent on Nippon Steel for selling hot-rolled steel in the US

Govt may seek flexibility in tariff concessions under FTA review with Asean

India may seek flexibility in the existing tariff concessions in sectors which are impacted by significant increase in imports, under the free trade agreement (FTA) review with the 10-nation Association of Southeast Asian Nations (ASEAN), an official said. The ASEAN official team is visiting India for the next round of review negotiations, which will start from November 19-22 here. The ASEAN-India Trade in Goods Agreement (AITIGA) was signed in 2009. "We may seek some flexibility in the tariff (or customs duty) concessions that have been given in the agreement. Some of the concessions can be taken back and can be given somewhere else because in some sectors we feel our domestic industry is badly getting hurt. We have domestic injuries in some sectors. We would like to do that in a minimum possible way," the official said. The domestic steel industry has time and again flagged concerns over a significant increase in imports from countries like China and misuse of FTA with ASEAN. In

The wealthy will shield Asian banks from Donald Trump's tariffs; here's how

Trump's proposed 10 per cent to 20 per cent tariff on all foreign-made goods - 60 per cent or higher on products from China - will be more than a bucketful of sand in the wheels of commerce