Page 2 - Tariffs

Tariffs are weapons, India won't yield to global pressure: Shivraj Chouhan

Agriculture Minister Shivraj Singh Chouhan on Thursday said India will not compromise on its national interest amid a volatile geopolitical situation where trade and tariffs have become weapons, and asserted that the country must further strengthen food security without relying on global markets. Addressing the 120th Annual General Meeting of PHD Chamber of Commerce and Industry, Chouhan said Prime Minister Narendra Modi has made it clear that while India believes in being "global brother" and is concerned about the world, the country's interest remains the top priority. "Amid volatile geopolitical situation where nations are fighting with each other, where trade and tariffs are treated as weapons, where nations are ruling the world at their whims.... In such a situation, India has to choose its path. We will not come under pressure of anyone. Protecting our country's interest is our duty and it is necessary for global peace. A responsible country like India should rise," he said. T

Protection for industry must come with performance obligations: CEA

Speaking at a seminar by CareEdge, Nageswaran stressed the need for an industrial policy focused on productivity and performance

No signs of improvement: Gita Gopinath slams 'Liberation Day' tariffs

On April 2, Trump announced an unparalleled increase in tariffs on goods imported into the US from most of its trading partners during a ceremony labelled "Liberation Day"

Listen to NITI Aayog: Boost trade competitiveness to strengthen economy

It is important for India to focus on expanding exports. External demand can be an important source of sustaining high growth, as demonstrated by several Asian countries in recent decades

NITI Aayog CEO confident of early India-US trade pact, urges lower tariffs

NITI Aayog CEO BVR Subrahmanyam on Monday exuded confidence that a trade agreement would be concluded between India and the US soon, as both countries are committed to having a mutually beneficial bilateral trade pact. Subrahmanyam also said that India should lower tariffs and non-tariff barriers and open its markets to improve competitiveness in manufacturing. "So the good thing is, both sides are still committed to having a trade deal. So negotiations happened last month, so I think both sides are hopeful," he told reporters while launching 'Trade Watch Quarterly' here. The ties between New Delhi and Washington have come under severe stress after US President Donald Trump doubled tariffs on Indian goods in August to 50 per cent, including an additional 25 per cent duty on India's purchase of Russian crude oil. India had described the US action as "unfair, unjustified and unreasonable". Asked to comment on the impact of a whopping 50 per cent tariffs on Indian goods, Subrahmanyam

Datanomics: India doubles its share in prescription drugs to the US

The Indian pharma stocks tanked after the announcement due to the ambiguity surrounding the impact of tariff on complex generics and specialty medicines supplied by the Indian pharma companies

Brics flags concern over tariffs, trade barriers hitting Global South

The remarks came at the annual meeting of Brics Foreign Ministers, held on the sidelines of the 80th UN General Assembly on Friday

BJP govt failed to shield India from arbitrary tariffs, visa fees: Akhilesh

Samajwadi Party president Akhilesh Yadav has attacked the BJP government commenting that an emergency has struck India's foreign policy under it and that it has failed to protect the country from arbitrary tariffs and visa fees. He also said the government has failed to protect Indians living abroad from violent attacks. In a post on microblogging site X on Saturday, Yadav said, "An emergency has struck foreign policy under the BJP rule: The BJP government is unable to protect India from arbitrary tariffs and arbitrary visa fees." He said the government is unable to keep up relations with neighbouring countries, adhere to the country's historical non-alignment policy, protect overseas Indians from handcuffs, chains, public humiliation and violent attacks, and bring any country along on the matter of terrorism. The post in Hindi added that the BJP government has put the foreign policy aside. Speaking to reporters at the party office in Lucknow, the Samajwadi Party chief slammed the

US Automakers may soon hike car prices as tariff costs pressure profits

The average manufacturer's suggested retail price, or MSRP, on new vehicles in the US rose less than 1 per cent from mid-March to mid-August, according to car-shopping site Edmunds

China accuses US of bullying over tariffs on Russian oil purchases

China opposes Washington's request that the Group of Seven and NATO countries impose secondary tariffs on Chinese imports over its purchase of Russian oil

Trump to hold call with Xi on Friday as TikTok deal framework is finalised

US Trade Representative Jamieson Greer, also speaking in Madrid on Monday, indicated that another extension in the pause on the highest tariff levels is possible when the November deadline arrives

US inflation likely rose last month as Trump tariffs drive up prices

US inflation likely ticked higher last month as the Trump administration's import taxes have lifted the price of goods, potentially putting the Federal Reserve in a tough spot when it meets next week. Economists forecast that consumer prices rose 2.9 per cent in August from a year earlier, according to a survey of economists by data provider FactSet. That would be an increase from an annual pace of 2.7 per cent in July. Excluding volatile food and energy costs, core inflation is expected to have increased 3.1 per cent, the same as in July. Both figures are above the Fed's 2 per cent inflation target. The potential increase, while modest, would underscore the challenges the Fed is facing as it experiences relentless pressure from President Donald Trump to reduce its short-term interest rate. Trump hopes that rate cuts will spur more borrowing and spending and boost the economy. Recent government reports have also shown that hiring has slowed sharply in recent months and was lower tha

India's textile exports to US jumped 9% in July on pre-tariff rush

India's textile exports to the US rose 9.1% in July as suppliers rushed shipments ahead of new tariffs though growth lagged Vietnam and Bangladesh, according to CITI

Trump signs tariff order, may grant 'most-favoured nation' rates on imports

The order lists over 45 categories of goods that could get zero tariffs if partner nations strike reciprocal trade deals, covering metals, drugs, aircraft parts and other imports

Small businesses urge US Supreme Court to fast-track Trump tariff case

In a court filing Friday, the companies said they support expedited review because they are 'suffering severe economic hardships as a result of the price increases and supply chain interruptions'

Dabur challenges Colgate as India-US trade tensions hit toothpaste ads

Consumer goods company Dabur, valued at $11 billion, took out a front-page newspaper advertisement this week carrying photos of unbranded toothpaste packs that resemble Colgate packaging

LIVE news: Trump says will impose tariffs on semiconductor imports 'very shortly'

Latest news updates: Catch all the latest developments here

US govt moves Supreme Court to uphold Donald Trump's tariff powers

The Trump administration seeks to overturn an appeals court ruling that termed its tariffs illegal, urging the Supreme Court to affirm presidential power to impose import taxes

High manufacturing costs may erode India's gains from reforms, trade deals

Post-tariffs, a slew of reforms have been proposed by many commentators, and indeed almost all of those would be welcome

Who were Boston Brahmins? Navarro's remark revives debate on elite class

White House aide Peter Navarro's jibe on 'Brahmins' while defending US tariffs on India has triggered debate, raising questions over what he meant by the term