Page 15 - Trump Tariff

Trump's tariffs may end quarter-century era of cheap goods for US consumers

President Donald Trump's new tariffs threaten to push up prices on clothes, mobile phones, furniture and many other products in the coming months, possibly ending the era of cheap goods that Americans enjoyed for about a quarter-century before the pandemic. In return, White House officials hope the import taxes create more high-paying manufacturing jobs by bringing production back to the United States. It is a politically risky trade-off that could take years to materialise, and it would have to overcome tall barriers, such as the automation of most modern factories. Even after Trump's U-turn on Wednesday that paused steep new tariffs on about 60 nations for 90 days, average US duties remain much higher than a couple of months ago. Trump has imposed a 10% tariff on all imports, while goods from China the United States' third-largest source of imports face huge 145% duties. And there are 25% taxes on imports of steel, aluminum, cars and roughly half of goods from Canada and ...

'Storms can't overturn sea': Xi Jinping's speech resurfaces amid trade war

A 2018 speech by Chinese President Xi Jinping goes viral as US and China implement tit-for-tat tariffs on one another

How far will Trump's tariffs go? A timeline of US-China trade war

US-China trade war: 20, 54, 104, 125 per cent tariffs, company backlisting, antitrust probes, lawsuits, and more

Why did Trump pause his tariff plan just hours after it took effect?

White House backs down on reciprocal tariff measures. Was Trump's sudden tariff reversal a calculated move or a sign of miscalculation by the administration?

US' 90-day tariff pause 'key' window, India must act decisively: ICEA

The US' 90-day pause on reciprocal tariffs for countries, including India, creates a critical strategic window for New Delhi to accelerate efforts in attracting electronics manufacturing investments, particularly from companies seeking to diversify their production bases beyond China, a country which now stares at 125 per cent American levy, according to the industry. US President Donald Trump has declared a three-month pause on reciprocal tariffs on non-retaliating countries marking a rather unexpected U-turn after record high levies he imposed led to global stock market meltdown that erased trillions of dollars in investor wealth, and spooked nations and businesses. Trump has, however, made it clear that he would raise tariffs on China, one of America's biggest trading partners, to a staggering 125 per cent after Beijing vowed a fresh round of retaliation. For other countries, the rates will revert to baseline 10 per cent. Pankaj Mohindroo, Chairman of ICEA (India Cellular and ...

Why India must end its Inspector Raj to compete in global manufacturing

From factories to e-commerce warehouses, overzealous quality checks are choking trade and killing jobs-India must dismantle this outdated system to stay competitive

Safe havens rebound as China-US trade war anxiety overshadows tariff U-turn

The uptick in safe haven currencies came even with Asian stock markers surging, as they joined the global relief rally

China hits back at US with 84% tariff after Trump admin imposes 104% levy

US China trade war: Beijing had previously called Trump's ultimatum 'coercive' and stated that it would 'fight to the end'

China calls on India to stand together against US tariffs amid trade war

India-China ties: Spokesperson Yu Jing emphasised that Trump tariffs deprive countries in the Global South of their right to development, calling on global cooperation

Samsung profits surge as buyers stockpile chips ahead of Trump tariffs

Samsung Electronics March quarter earnings beat estimates as demand spikes for semiconductors and smartphones amid fears of steep US import duties under Trump's trade policy

S'pore forms task force to support businesses against impact of US tariffs

Singapore is setting up a national task force to support businesses and workers from sweeping US tariffs that could slow economic growth and affect jobs and wages, Prime Minister Lawrence Wong said in Parliament on Tuesday. The task force, chaired by Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong, will include representatives from the city-state's economic agencies, the Singapore Business Federation, the Singapore National Employers Federation and the National Trades Union Congress. Describing the global situation as "fluid", PM Wong said in a ministerial statement in Parliament that the task force will help businesses and workers address immediate uncertainties, strengthen resilience and adapt to a new economic landscape. The tariffs are expected to dampen global growth in the near term, which will hit external demand for Singapore's export-reliant sectors, such as manufacturing and wholesale trade. The global uncertainty and dampened sentiment will also ..

Trump adviser gives nations list to correct 'unfair' global system

Trump economic advisor Stephen Miran called on nations to take greater responsibility in providing global stability

How a false Trump tariff pause headline moved $2.4 trillion on Wall Street

US media outlets mistakenly flashed a false news claiming the Trump administration was considering a 90-day pause on tariffs for all countries except China

Trump claims tariffs averted Great Depression, but history disagrees

In the early days of the Great Depression, Rep. Willis Hawley, a Republican from Oregon, and Utah Republican Sen. Reed Smoot thought they had landed on a way to protect American farmers and manufacturers from foreign competition: tariffs. President Herbert Hoover signed the Smoot-Hawley Tariff Act in 1930, even as many economists warned that the levies would prompt retaliatory tariffs from other countries, which is precisely what happened. The US economy plunged deeper into a devastating financial crisis that it would not pull out of until World War II. Most historians look back on Smoot-Hawley as a mistake that made a bad economic climate much worse. But tariffs have a new champion in President Donald Trump. Like Trump, Hoover was elected largely because of his business acumen. An international mining engineer, financier and humanitarian, he took office in 1929 like an energetic CEO, eager to promote public-private partnerships and use the levers of government to promote economic .

China vows to 'fight to end' after Trump threatens with still more tariffs

China said Tuesday it would fight to the end and take countermeasures against the United States to safeguard its own interests after President Donald Trump threatened an additional 50% tariff on Chinese imports. The Commerce Ministry said the US' imposition of so-called reciprocal tariffs' on China is completely groundless and is a typical unilateral bullying practice. China has taken retaliatory tariffs and the ministry hinted in its latest statement that more many be coming. The countermeasures China has taken are aimed at safeguarding its sovereignty, security and development interests, and maintaining the normal international trade order. They are completely legitimate, the ministry said. The US threat to escalate tariffs on China is a mistake on top of a mistake and once again exposes the blackmailing nature of the US. China will never accept this. If the US insists on its own way, China will fight to the end. Trump's threat Monday of additional tariffs on China raised fresh .

Apple customers dash to stores to buy iPhones ahead of Trump tariffs

Employees from different Apple locations across the country said stores filled with customers over the weekend

Trump tariffs: US consumers will resent losing access to quality goods

The average American citizen is as unprepared for being cut off from world markets as US institutions are for the assault of a populist strongman

India's exports to US may decline by $5.76 bn due to high tariffs: GTRI

India's merchandise exports to the US from sectors such as marine items, gold, electrical, and electronics are expected to decline by USD 5.76 billion this year due to increased American duties, according to the data analysis of think tank GTRI. However, it added that India's competitive position in select product segments may help cushion some of the losses. Sectors which can witness modest gains include textiles made-up, apparel, ceramic products, inorganic chemicals, and pharmaceuticals. The US has announced an additional 26 per cent duty on Indian goods barring pharma, semiconductors and certain energy goods from April 9. The 10 per cent baseline tariffs are there from April 5-8. "Using detailed trade data and tariff schedules, the analysis estimates that India could see a decline of USD 5.76 billion, or 6.41 per cent, in exports to the US in 2025," Global Trade Research Initiative (GTRI) said. In 2024, India exported USD 89.81 billion worth of goods to the US. It said that .

UK PM, European leaders call US tariffs 'new era for global economy'

Starmer also expressed disappointment over the new tariffs but emphasised that the UK would continue to act in its national interest

Indian steel companies evaluating possible impact of US reciprocal tariffs

Domestic steel players are evaluating the possible impact of reciprocal tariffs imposed by the US administration, saying it is premature to comment on the development. US President Donald Trump on Wednesday announced reciprocal tariffs on about 60 countries in a historic measure to counter higher duties imposed globally on American products. For India, the US has announced 26 per cent reciprocal tariffs, contending New Delhi imposes high import duties on American goods, as the Trump administration aims to reduce the country's trade deficit and boost manufacturing. However, automobiles and auto parts and steel and aluminium articles, already subject to Section 232 tariffs at 25 per cent, announced in March, are not covered in the latest order. When asked about Tata Steel's reaction, a company official told PTI, "We are evaluating the situation. It would be premature to comment". "The tariff has come just yesterday. We will study its impact". A senior official of Naveen Jindal-owne