Page 3 - Trump's Tariff Hikes

Tariff pause on electronics for brief period, says Howard Lutnick

Lutnick comments indicate that the exemptions, published in a US Customs and Border Protection document late Friday, were made to shift those products ultimately to a different levy

India's smartphone exports gains 20% tariff edge over China: ICEA

Export of iPhones, smartphones, tablets, laptops from India to the US will be cheaper by 20 per cent compared to those shipped from China following the exemptions given by the Trump administration, industry body ICEA said on Sunday. The US government on Saturday amended its tariff order to exempt smartphones, tablets, laptops, and some other electronic devices from the new taxes. "China still has 20 per cent of iPhones, laptops, tablets, and watches. Only reciprocal tariff has been removed for China. India has zero tariff on iPhones and all smartphones, laptops and tablets exported to the US. Vietnam also has zero tariff on all Samsung and other smartphones, laptops and tablets exported to the US. So India and Vietnam are similarly placed on tariffs on these products and both enjoy a 20 per cent tariff advantage over China," ICEA Chairman Pankaj Mohindroo told PTI. India Cellular and Electronics Association represents major smartphone companies and their manufacturers, including ...

US bank profits rise but tariff tensions spark recession concerns

The latest warnings add to a chorus of Wall Street executives ringing alarm bells about the potential economic damage from the tariffs, including Dimon, BlackRock CEO Larry Fink

India takes US to WTO over steel, aluminium tariffs, seeks consultation

India has sought consultations with the US under the WTO's safeguard agreement following American authorities' decision to impose tariffs on steel and aluminium, according to a WTO communication. On March 8, 2018, the US promulgated safeguard measures on certain steel and aluminium articles by imposing 25 per cent and 10 per cent ad valorem tariffs respectively. It came into effect from March 23, 2018. On February 10 this year, the US revised the safeguard measures on imports of steel and aluminium articles, effective from March 12, 2025, and with an unlimited duration, the communication said. It is being circulated at the request of the delegation of India. It added that notwithstanding the USA's characterisation of these measures as security measures, they are in essence safeguard measures. The US has failed to notify the WTO Committee on Safeguards under a provision of the Agreement on Safeguards (AoS) on taking a decision to apply safeguard measures. "Accordingly, as an affec

India-US trade deal must address more on non-tariff barriers: SIA CEO

While tariff is important, the bilateral trade agreement between India and the US should focus more on non-tariff barriers, a top official of Semiconductor Industry Association said on Friday. India can have a higher share in the USD 600 billion semiconductor market if it plays the cards right, Semiconductor Industry Association (SIA) President and CEO John Neuffer said during a panel discussion at Global Technology Summit organised by Carnegie India. "As we think about our bilateral future and our cooperation within the BTA (bilateral trade agreement), we shouldn't over-index on the tariff piece of it. There's no doubt about it, that's really important, but more emphasis needs to be given to the non-tariff barriers. That's been talked about in Washington quite a bit. There's customs problems, there's siting regulations that need to be streamlined," Neuffer said. India and the US are holding discussions for a bilateral trade agreement (BTA) to rationalise import taxes in the ...

Wall Street dips on tariff worries as big banks kick off earnings season

US consumer sentiment also deteriorated sharply in April and 12-month inflation expectations surged to the highest level since 1981 amid unease over escalating trade tensions

Morgan Stanley profits rise as market swings boost trading revenue

US President Donald Trump's decision to impose hefty tariffs on major economies and the launch of China's generative AI model, DeepSeek, triggered a broad selloff across global markets

Tariffs may destroy developing nations more than aid cuts: UN trade agency

Global trade could shrink by 3-7 per cent and global gross domestic product by 0.7 per cent, with developing countries the worst affected, the International Trade Centre said

EU, China start talks on lifting EU tariffs on Chinese electric vehicles

The European Union imposed tariffs on Chinese-made electric vehicles (EVs) late last year, saying they were needed to counter cheap loans

'Everything is going to work out well': Trump on tariff reversal decision

After his reversal on social media, Trump's team was put in the unenviable position of trying to spin the media that this was the plan all along, a brilliant strategy

Goldman Sachs cuts China GDP growth forecasts citing tariff impact

However, the report added that "even these significant easing measures are unlikely to fully offset the negative effects of the tariffs

China slashes US film imports over tariffs, says open to fair dialogue

As US President Donald Trump hiked tariffs against China to 125 per cent while pausing levies on most countries, Beijing in retaliation has reduced the import of US films and called on Washington to return to fair dialogue without threats. Meanwhile, a rare survey of Chinese public opinion highlighted growing concerns of the Chinese public over the impact of the trade war on their country. The state-run China Film Administration said, The US government's erroneous practice of imposing excessive tariffs on China is likely to further diminish the Chinese audience's favourable perception of American films. We will adhere to market principles, respect audience choices and moderately reduce the import volume of American films, it said. Separately, China's Commerce Ministry spokesperson He Yongqian told a press briefing on Thursday that while Beijing remains open to talks, any dialogue must be based on mutual respect and conducted on equal footing. If the US is bent on waging a trade wa

Whispers of change in China as some companies tell staff to work less

In another sign of how the zeitgeist for China Inc is slowly changing, a Beijing law firm was fined in March for not taking corrective measures after it illegally extended staff working hours

World leaders desperate for trade deals amid tariff chaos, claims Trump

President Donald Trump claimed world leaders were "dying to make a deal" with the US and would do anything to secure a pact on tariffs. I am telling you, these countries are calling us up, kissing my ass," Trump said during a speech at the National Republican Congressional Committee dinner on Tuesday. The president, who imposed a wide range of tariffs on various countries and triggered a global trade war, said: They are dying to make a deal. 'Please, please sir, make a deal. I'll do anything sir'. Many new tariffs, announced by Trump on April 2, took effect on Wednesday morning. Trump's tariffs include massive 104 per cent duties on Chinese goods while dozens of other nations, including the European Union, will face tariffs ranging from 11 per cent to 50 per cent. Trump also announced plans for additional tariffs on pharmaceutical imports. We're going to tariff our pharmaceuticals and once we do that they're going to come rushing back into our country because we're the big market

Walmart backs annual forecasts, vows to keep prices low amid tariff woes

The company's shares, which have fallen nearly 9 per cent since the announcement of a raft of tariffs on April 2, rose about 5 per cent in early trading

Sebi chief assures of no systemic risk despite tariff-induced selloff

Pandey - who took charge of Sebi last month - touted the country's settlement system as unique where trade clearing houses of both the National Stock Exchange of India Ltd. and BSE Ltd

China, EU hit back with their own tariffs as Trump's trade war intensifies

China announced a tariff hike on US imports to 84 per cent from 34 per cent, shortly after Trump's punitive 104 per cent tariffs on Chinese imports kicked in on Wednesday

Fed's Musalem sees growth slipping below trend, higher inflation risk

Higher prices from tariffs could lead to a one-time price shock that the Fed could largely look through in setting policy, though Musalem said he regarded that approach as risky

Treasuries, US dollar see fall as Trump's trade war sparks recession fears

US stocks were in positive territory early, with investors weighing whether recent sharp selling may have been overdone, although trading remained choppy as it has been all week

JPMorgan CEO Dimon warns of recession & defaults, urges quick trade talks

JPMorgan's economists raised the risk of a US and global recession this year to 60 per cent from 40 per cent after Trump unveiled the trade barriers