Page 2 - Trump's Tariff Hikes

AO Smith Q1 revenue dips 2% on weak US, China water heater demand

The company, which makes residential and commercial water heaters, boilers, tanks and treatment products, posted a 2 per cent fall in quarterly sales to $963.9 million

Global stocks, dollar edge up as US signals easing of auto tariffs

Canada's dollar dipped against a broadly-firm US currency as Canadian Prime Minister Mark Carney's Liberals retained power in Monday's election

IMF chief urges swift action to ease trade tensions that risk growth

The head of the International Monetary Fund urged countries to move swiftly' to resolve trade disputes that threaten global economic growth. IMF managing director Kristalina Georgieva said the unpredictability arising from President Donald Trump's aggressive campaign of taxes on foreign imports is causing companies to delay investments and consumers to hold off on spending. Uncertainty is bad for business,' she told reporters on Thursday in a briefing during the spring meetings of the IMF and its sister agency, the World Bank. Georgieva's comments came two days after the IMF downgraded the outlook for world economic growth this year. The 191-country lending organisation, which seeks to promote global growth, financial stability and to reduce poverty, also sharply lowered its forecast for the United States. It said the chances that the world's biggest economy would fall into recession have risen from 25 per cent, to about 40 per cent. Georgieva warned that the economic fallout from

Boeing to resell jets blocked by China as trade tariffs delay deliveries

Boeing took the rare step of publicly flagging the potential aircraft sale during an analyst call on Wednesday, saying there would be no shortage of buyers in a tight jet market

Trump trade war fuels business uncertainty, rising costs and profit cuts

Dove soap maker Unilever, which was also reporting earnings, described declining consumer sentiment in its North American markets

US imposes tariffs as high as 3,521% on solar imports from Southeast Asia

While the duties are set to benefit domestic manufacturers, they also will pinch US renewable developers that have long relied on inexpensive foreign supplies, heightening uncertainty

Oil prices rebound on short-covering amid ongoing tariff concerns

The Brent and WTI benchmarks dropped more than 2 per cent on Monday, as signs of progress in nuclear deal talks between the US and Iran helped to ease supply concerns

Indian toy exporters see golden opportunity as US hikes tariff on China

India's toy exporters are aiming to utilise a "golden opportunity" emerging out of the steep tariffs imposed by the US on Chinese imports, and growing enquiries from American buyers eyeing alternative markets to reduce their reliance on Chinese goods. Toy Association of India has identified about 40 firms with the potential to export to the US market while meeting the compliance requirements. Currently, about 20 companies export toys in bulk to the American market, President Ajay Aggarwal told PTI. "We are getting more enquiries from US-based toy buyers in the last one month. Some Indian export houses have also got in touch with us seeking a list of the manufacturers who can make toy products as per US rules and regulations. They are looking for white labelling and original equipment manufacturers capable of meeting the compliance requirements of the American toy market," Aggarwal said. According to GMI Research, the United States' toy market size touched USD 42.8 billion in 2024 a

US small manufacturers hopeful on tariffs, but fear growing uncertainty

Drew Greenblatt is fully on board with the Trump administration's use of tariffs to rebalance a global trading system that it says favours foreign companies over US manufacturers. Greenblatt is the president and owner of Marlin Steel Wire Products in Baltimore, Maryland, which makes baskets and racks for medical device manufacturers, aerospace companies, food processing companies and others. It has 115 employees and makes its products in three locations in Maryland, Indiana and Michigan. The steel is sourced from Tennessee, Illinois and Michigan. Currently, it's hard to compete with baskets made overseas., Greenblatt says, because the countries he competes against have an unfair advantage. For example, due to European tariffs and taxes, it costs much more for a German consumer or company to buy Marlin wire baskets than it does for Americans to buy a German-made basket, creating an uneven playing field, Greenblatt said. It's wildly unfair to the American worker, he said. And this has

Xi Jinping pushes for 'Asian Family' unity amid US trade pressure

In another thinly-veiled swipe at the US, the Chinese leader reiterated his call to fight unilateralism in an article published Thursday in Cambodian media ahead of his arrival in the capital

Trump warns Harvard may lose tax exempt status over political stance

President Donald Trump said on Tuesday that Harvard University could lose its tax exempt status and be taxed as a political entity after the school rejected demands from his administration

Wall Street edges higher as investors eye possible tariff exemptions

US President Donald Trump on Monday hinted at potential exemptions for the 25 per cent tariffs imposed on imports of autos and auto parts

IEA cuts 2025 oil demand forecast amid trade tensions, economic uncertainty

Global oil demand expected to rise by 730,000 b/d in 2025, down from 940,000 b/d last year

Asia-Pacific growth to fall if US imposes reciprocal tariffs: S&P

Major Asia Pacific economies like India, China, and Japan, will see growth fall by 0.2-0.4 percentage points (ppts) over the next two years if the US implements the reciprocal tariffs announced on April 2, S&P Global Ratings said on Tuesday. It said that the threat and imposition of tariffs by the US will slow global trade and confidence. The region's dependency on exports with China and the US will have an outsized hit on manufacturers and small economies. "Should the tariffs announced on April 2, 2025 resume for economies ex-China, the geopolitical and economic fallout will be deep," S&P Global Ratings, Asia-Pacific Head of Research, Eunice Tan said. For India, S&P had in March projected a 6.5 per cent and 6.8 per cent growth for 2025 and 2026, respectively. If the reciprocal tariff as announced by US President Donald Trump is implemented, S&P estimates the growth to fall to 6.3 per cent and 6.5 per cent, respectively. After the April 2 announcement jolted stock ...

Trump considers exemptions to 25% auto parts tariffs for US carmakers

Trump imposed a 25% tariff on fully built vehicles, with duties on parts set to take effect no later than May 3. His tariffs on Canada and Mexico already contain a carveout

Trump tariffs may open new opportunities for India: MD Volkswagen India

European auto major Skoda Auto Volkswagen India on Monday said while it does not support the new reciprocal tariff imposed by the Trump Administration, which have now been paused for 90 days on non-retaliating countries, the move may open up opportunities for the industries in the long term. Earlier, the group, which is battling a Rs 11,000-crore tax show cause notice for alleged customs duty fraud related to the import of cars as completely knocked down units, rolled out the all-new Volkswagen Tiguan R Line at an introductory price of Rs 49 lakh. "Of course, we do not support the (reciprocal) tariffs but at the same time there are a lot of discussions about opening up the economy even in India through bilateral trade or free trade agreements," Piyush Arora, Managing Director at Skoda Auto Volkswagen India told PTI here at the launch event. Emphasizing that the group always believes in "free trade" and transfer of technology between countries for customers and their benefits, Arora

Goldman Sachs Q1 profit up 15% as trading gains offset banking slump

The Wall Street lender joined rivals JPMorgan Chase and Morgan Stanley in reporting higher profits. But investors have shifted their focus on to economic projections, which are being clouded by tariff

China will ensure stable diplomatic ties with neighbourhood: Xi Jinping

Visiting Vietnam to enhance political and trade ties amid a major tariff row with the US, Chinese President Xi Jinping Monday said that China will ensure continuity and stability in its neighbourhood diplomacy and jointly advance the modernisation of Asia. Xi arrived in Hanoi on his first visit abroad after US President Donald Trump slapped steep tariffs against China while pausing levies on a host of other countries, including Vietnam, Malaysia and Cambodia - the three countries on the Chinese president's current itinerary. In an article published in Vietnam's Nhan Dan newspaper ahead of his visit, Xi said China would deepen friendly cooperation with neighbouring countries by ensuring continuity and stability of its neighbourhood diplomacy. We will stay committed to the principle of amity, sincerity, mutual benefit and inclusiveness," he wrote. "We will continue to pursue the policy of forging friendship and partnership with our neighbours," he added. Xi, who is under pressure aft

China's ports stall as US tariff hike to 145% hits trade, halts factories

Local business owners stated that stacks of shipping containers, which did not make it onto ships bound for the US by the April 9 deadline

Apple escapes crisis as Trump pauses tariffs on 'made-in-China' devices

While a new, lower so-called sectoral tariff may still come on goods that have semiconductors - and a 20% tariff on China remains - the change marks a win for Apple