Page 7 - Trade

Trump tariff impact: Govt hopeful US will modify tariffs downwards

Despite tensions over tariffs, India continues diplomatic engagement with the US and remains hopeful that the White House will reconsider its 25% tariff on Indian goods

Trump targets Aug 1 for global trade deals as EU and China talks go on

Commerce chief Howard Lutnick said on Tuesday ahead of Trump's self-imposed Aug. 1 deadline

US, EU agree trade deal, EU will see 15% tariff across the board

The deal, that includes a 15 per cent tariff on EU goods entering the US and significant EU purchases of US energy and military equipment, will bring welcome clarity for EU companies

EU-US trade agreement now hinges mostly on Donald Trump's verdict

The stakes for the talks, scheduled for 4:30 p.m. local time at Trump's golf resort in Turnberry, western Scotland, could hardly be higher for von der Leyen

India should push for joint statement in trade talks with US: GTRI

India must proceed with caution in its trade talks with the US, drawing lessons from countries like Vietnam and Japan, economic think tank GTRI said on Sunday. To prevent any misrepresentation, the Global Trade Research Initiative (GTRI) said New Delhi should insist on a jointly issued written statement before acknowledging the final terms of any agreement. It added that a Japanese government document released on July 25 shows major gaps between Japan's understanding of a new trade deal with the United States and how President Trump portrayed it just days earlier. Trump claimed on July 22 that the agreement secures massive Japanese investments, strong tariff protections, and guaranteed access for US farm exports, including rice. But Japan's official summary, published by its Cabinet Secretariat, describes a far more limited framework -- still under negotiation and lacking binding commitments, GTRI Founder Ajay Srivastava said. "India should tread carefully as it negotiates its trad

India may escape 'relatively unscathed' from European Union's sanctions

Different kinds of sanctions are staggered for implementation until Jan 2026, giving further room for Indian refiners to take countermeasures, according to EU sanction documents and refining officials

India, UK likely to sign FTA today; business heavyweights converge

The signing is scheduled to take place at Chequers, the British prime minister's countryside retreat in the Chiltern Hills of Buckinghamshire

India-US trade deal: Exporters in a fix over possible tariff cost split

Begin talks with buyers, particularly for goods arriving at US ports on or after Aug 1

Few tariff exclusions in India-UK free trade agreement, says MEA

Agreeement gets Cabinet approval, likely to be signed on Thursday; highest priority to ensure energy security: Misri

India, Maldives in discussions to negotiate free trade pact: Foreign secy

Addressing a press briefing ahead of Prime Minister Narendra Modi's visit to the Maldives, Misri elaborated on the burgeoning economic relationship between the two countries

India, US seek to futureproof trade agreement amid tax and tariff concerns

Starting April 1, India abolished the 6 per cent equalisation levy on online advertising services provided by non-resident entities, also known as Google tax

Industry body warns China's curbs threaten India's smartphone exports

ICEA urges government action as Foxconn recalls staff and Chinese customs block key machines

Gold imports in June fall to two-year low as record price dents demand

Domestic prices hit an all-time high of 101,078 rupees per 10 grams in June. Gold prices have risen 27 per cent so far this year after rising 21 per cent in 2024

India, Asean expect 'some conclusion' in FTA review by October-end

Both sides are also discussing matters pertaining to technical cooperation, sanitary and phyto-sanitary measures and technical barriers to trade collaborations

Issuance of preferential certificate under FTAs increases in FY25

Issuance of preferential certificates of origin -- a document enabling exporters to claim tariff benefits under free trade pacts -- by India has risen significantly for various countries, including Korea, Malaysia, and Japan, in 2024-25, indicating increased advantage of such agreements for domestic exporters. The number of preferential certificates of origin issued under free trade agreements implemented so far has recorded a healthy increase, rising to 7,20,914 in 2024-25 from 6,84,724 in 2023-24. The number of preferential certificates of origin issued by India under free trade agreements (FTAs) with Korea and Japan rose to 54,644 and 47,809, respectively, in 2024-25 against 52,158 and 42,306, respectively, in 2023-24, according to the commerce ministry data. India has issued 4,664 such certificates in 2024-25 under the FTA with Malaysia, against 4,370 certificates in 2023-24. Similarly, India has issued 19,267 certificates under the trade pact with Sri Lanka in 2024-25 compared

Trade war: A second chance for India to attract global manufacturing

Services trade from India has become a major success. From 2005 to 2023, India's share of global services exports doubled - from under 2 per cent to over 4 per cent

Govt to soon issue new guidelines to promote exports in new markets: Goyal

The government will soon issue new guidelines to promote the country's shipments in new markets and support first-time exporters, Commerce and Industry Minister Piyush Goyal said on Monday. He said that the ministry will partner with districts to promote one district one product (ODOP) goods. "The commerce ministry will soon be coming out with some more guidelines on how we can promote (exports in) new markets, new products and new exporters, first-time exporters," Goyal said while addressing the National One District One Product (ODOP) 2024 Award ceremony here. He said that India is like an oasis in a desert in a tumultuous world and is the fastest-growing large economy in the world today. India will become the third-largest economy in 2027, the minister said, adding, "we have so many diverse products that can take India globally". Citing examples of Wayanad's coffee, Ratnagiri mangoes, and saffron from Pulwama, he said that these represent the wide range of products that can tak

Amid growing chaos, American allies want to redraw trade map without US

Facing growing chaos, the EU and numerous other countries are seeking to forge a global trading group that is less vulnerable to Trump's tariffs

India should avoid rushing for trade agreement with US, say experts

India should avoid rushing into a trade deal with the US that compromises core sectors like agriculture, experts on Sunday said, cautioning that Washington is not sparing even its key partners like the EU. The US has shot off letters to 24 countries and the European Union (EU) imposing tariffs that are as high as 50 per cent on Brazil. On its key trading partners like the EU and Mexico, 30 per cent duties have been proposed from August 1. Economic think tank GTRI (Global Trade Research Initiative) said India must recognise that it is not alone in facing US pressure. The US is currently negotiating with over 20 countries and seeking concessions from more than 90. "Yet most are resisting because they see these MASALA (Mutually Agreed Settlements Achieved through Leveraged Arm-twisting) deals for what they are politically driven, transactional demands offering no lasting trade certainty," GTRI Founder Ajay Srivastava said. He added that both the EU and Mexico are major trade partners

Donald Trump's tariff chaos leaves global trade partners in uncertainty

Gone is the idea that the White House would strike 90 deals in 90 days after a period of rapid-fire negotiation, as Trump pledged in April