Page 6 - Tariffs

Japan racks up trade deficit amid threat from Donald Trump's tariffs

Japan sank into a trade deficit of 2.2 trillion yen ($15 billion) for the first six month of this year, according to government data released Thursday, as exports were hit by President Donald Trump's tariffs. In June, Japan's exports slipped 0.5% from a year earlier after its shipments of vehicles and other products were slapped with a 25% tariff. Trump has postponed implementing that higher import duty until Aug. 1, to allow time for negotiations but so far no deal has been reached. Exports in June totaled nearly 9.2 trillion yen ($62 billion), in the second straight month of declines. Imports in June rose 0.2% to 9 trillion yen ($61 billion), the Finance Ministry said. That left a trade surplus of 153 billion yen (just over $1 billion). The trade deficit in May was 637.6 billion yen, or $4.4 billion. Japan's exports to the United States fell 11% in June, with auto exports plunging 25%. Shipments to China decreased by nearly 5%. Exports to Mexico, a major auto assembly hub for Nort

Will place tariffs of over 10% on smaller countries, says Donald Trump

President Donald Trump told reporters Tuesday that he plans to place tariffs of over 10 per cent on smaller countries, including nations in Africa and the Caribbean. "We'll probably set one tariff for all of them," Trump said, adding that it could be "a little over 10 per cent tariff" on goods from at least 100 nations. Commerce Secretary Howard Lutnick interjected that the nations with goods being taxed at these rates would be in Africa and the Caribbean, places that generally do relatively modest levels of trade with the US and would be relatively insignificant for addressing Trump's goals of reducing trade imbalances with the rest of the world. The president has this month been posting letters to roughly two dozen countries and the European Union that simply levied a tariff rate to be charged starting August 1. Those countries generally faced tax rates on the goods close to the April 2 rates announced by the US president, whose rollout of historically high import taxes for the U

India-US trade talks moving fast as fresh deadline nears: Piyush Goyal

India and US negotiators are in Washington for intense discussions, with the interim trade pact facing a critical deadline and pressure from the US on tariff concessions

EU delaying retaliatory tariffs on US, hopes to reach deal by Aug 1

The EU will suspend retaliatory tariffs on US goods scheduled to take effect Monday in hopes of reaching a trade deal with the Trump administration by the end of the month. "This is now the time for negotiations," European Commission President Ursula von der Leyen told reporters in Brussels on Sunday, after President Donald Trump sent a letter announcing new tariffs of 30% on goods from the EU and Mexico starting Aug 1. The EU America's biggest trading partner and the world's largest trading bloc had been scheduled to impose "countermeasures" starting Monday at midnight Brussels time (6 pm EDT). The EU negotiates trade deals on behalf of its 27 member countries. Von der Leyen said those countermeasures would be delayed until Aug 1, and that Trump's letter shows "that we have until the first of August" to negotiate. European leaders have urged Trump and von der Leyen to give negotiations more time. "We have always been clear that we prefer a negotiated solution," she said. If they

Why did UBS downgrade Bharti Airtel, Vi ahead of Q1 results? Find out here

UBS has downgraded Bharti Airtel to 'Sell' and Vi to 'Neutral', while keeping the target prices unchanged at ₹1,970 and ₹8.5, respectively.

Sri Lanka's apparel industry alarmed by US tariff of 30%, hopes for cut

The US takes about 40 per cent of apparel exports, helping to pull in $1.9 billion last year and make the industry Sri Lanka's third largest earner of foreign exchange, employing 300,000 people

Trump imposes up to 30% tariffs on six nations including Iraq, Philippines

Trump said trade talks have been going well with China and the European Union, which is the biggest bilateral trading partner of the US

Donald Trump's tariff 'blank check' must be curbed: Businesses to US court

A group of small businesses that won an order finding President Donald Trump's sweeping global tariffs illegal urged a federal appeals court to uphold that decision and block the trade levies

Making Brics count: Summit highlighted diminishing global relevance

The lengthy, nearly 16,000-word Rio de Janeiro Declaration, which followed the summit, made all the right noises about "inclusive and sustainable" governance

US close to several trade deals, announcements expected in days: Bessent

"I hear good things about the talks with Europe. I hear good things about the talks with India," Stephen Miran, chairman of the White House Council of Economic Advisers said

US tariffs on European goods likely to disrupt world's largest trade ties

America's largest trade partner, the European Union, is among the entities awaiting word Monday on whether US President Donald Trump will impose punishing tariffs on their goods, a move economists have warned would have repercussions for companies and consumers on both sides of the Atlantic. Trump imposed a 20% import tax on all EU-made products in early April as part of a set of tariffs targeting countries with which the United States has a trade imbalance. Hours after the nation-specific duties took effect, he put them on hold until July 9 at a standard rate of 10% to quiet financial markets and allow time for negotiations. Expressing displeasure the EU's stance in trade talks, however, the president said he would jack up the tariff rate for European exports to 50%. A rate that high could make everything from French cheese and Italian leather goods to German electronics and Spanish pharmaceuticals much more expensive in the US. The EU, whose 27 member nations operate as a single .

India-US interim trade deal nearly sealed after a week of intense talks

First tranche of bilateral trade pact likely in 2-3 days to avert higher US tariffs

Elara Capital predicts up to 10% upside in Nifty on easing US Dollar

The brokerage is bullish on Trent, DLF, and Indian Hotels among others as it anticipates higher risk appetite for high beta plays

India firm on agriculture as US trade discussions enter crucial stage

The ongoing in-person round of talks between New Delhi and Washington is crucial, considering that the end of the 90-day pause on the US's plan to impose country-specific reciprocal tariffs on July 9

US Treasury deal with G7 kills 'revenge tax' that spooked Wall Street

Section 899, dubbed the 'revenge tax,' was backed by House Republicans and the White House to counter what they saw as discriminatory taxes on US firms by several foreign nations

Japan can't accept US' 25% car tariffs, says trade negotiator Akazawa

Japanese automakers make roughly 3.3 million cars in the US a year, a number that's far larger than the 1.37 million that they ship there, Akazawa said

Fed officials caught between inflation worries, slowdown fears amid tariffs

The US economy is mostly in good shape but that isn't saving Federal Reserve chair Jerome Powell from a spell of angst. As the Fed considers its next moves during a two-day meeting this week, most economic data looks solid: Inflation has been steadily fading, while the unemployment rate is still a historically low 4.2%. Yet President Donald Trump's widespread tariffs may push inflation higher in the coming months, while also possibly slowing growth. With the outlook uncertain, Fed policymakers are expected to keep their key interest rate unchanged on Wednesday at about 4.4%. Officials will also release a set of quarterly economic projections that are expected to show inflation will accelerate later this year, while unemployment my also tick up a bit. The projections may also signal that the Fed will cut its key rate twice later this year, economists say. The prospect of higher inflation would typically lead the Fed to keep rates unchanged or even raise them, while rising unemployme

Let discipline and patience do the compounding, says Anup Maheshwari

Anup Maheshwari, cofounder and chief investment officer at 360 ONE Asset, urges investors to stay disciplined, avoid the noise, and focus on long-term growth

Drop 10% universal tariff in bilateral trade agreement: India to US

India pushes for early tranche of trade deal to avoid potential 26% reciprocal tariff

EU votes to curb Chinese medical devices, cites procurement bias

The move comes after the EU, in its investigation, found that Beijing discriminated against foreign firms in procurement of medical devices