Page 16 - Trump Tariff

'Couldn't care less' if automakers raise prices due to tariffs, says Trump

Tariffs will hit a $240 billion trade route, with imported cars and light trucks accounting for about half of the roughly 16 million vehicles sold in the US last year

Amid trade war, Canada's PM Mark Carney to speak soon with Donald Trump

Canadian Prime Minister Mark Carney on Thursday said he would speak with US President Donald Trump in the coming days after the latter announced 25 per cent tariffs on auto imports. Carney, who hasn't spoken with Trump since becoming Canada's new leader nearly two weeks ago, said the US president reached out on Wednesday night to schedule a call. "We will be speaking soon, certainly in the course of the next day or two," Carney said. He also said that Trump has to respect Canada's sovereignty. "That's not much to ask, but apparently it's a lot for him," he said. Trump has declared a trade war on Canada and continues to call for the United States' northern neighbour to become the 51st US state, a position that has infuriated Canadians. Carney was sworn in as Canada's new prime minister on March 14. It's unusual for a US president and Canadian prime minister to go so long without talking after a new leader takes office. Carney, who replaced Justin Trudeau as Canada's leader and th

Porsche, Mercedes face $3.7 bn hit from Trump tariffs on imported cars

Trump's additional 25 per cent duties, to be collected from April 3, could wipe out around a quarter of Porsche and Mercedes' projected 2026 operating earnings

Trump's tariff to impact Indian auto parts makers more than vehicle makers

Indian auto component makers are more likely to be impacted than their vehicle manufacturing counterparts by US President Donald Trump's tariff war, industry observers said on Thursday. Trump on Wednesday announced imposition of 25 per cent tariffs on auto imports from April with another 25 per cent tariffs expected to be applied on imports of major automotive parts -- engines and engine parts, transmissions and powertrain parts, and electrical components by May. "It is the Indian auto components industry that is more likely to face the heat due to the US tariff as exports from here to the US are significant. "Indian vehicle makers are less likely to be impacted as there are no direct exports of fully built cars from India to the US," an industry executive told PTI on the condition of anonymity. According to industry estimates, India's auto component exports to the US was USD 6.79 billion in FY24, while the country's imports from the US stood at USD 1.4 billion at 15 per cent duty.

Trump's auto tariffs to have minimal impact on India's auto sector: GTRI

The implications of the US announcement to impose 25 per cent import duty on completely built vehicles and auto parts from April 3 remain limited for India's auto industry and may even present an opportunity for domestic exporters, think tank GTRI said on Thursday. On March 26, US President Donald Trump announced a sweeping 25 per cent tariff on completely built vehicles (CBUs) and auto parts, a move set to take effect on April 3. "An analysis of India's auto and auto component exports in calendar year 2024 suggests that the impact of these tariffs on Indian exporters will be minimal," Global Trade Research Initiative (GTRI) Founder Ajay Srivastava said. In the case of passenger cars, the think tank said India exported a modest USD 8.9 million worth of vehicles to the US in 2024, which is just 0.13 per cent of the country's total exports of USD 6.98 billion. He said this negligible exposure implies the tariffs will have no real effect on India's thriving car export business and in

Japan considering 'all options' to address US auto tariffs, says PM Ishiba

Analysts say the move could deal a heavy blow on Japan's economy given its reliance on auto exports to the United States

Elon Musk one of the few winners from Donald Trump's auto tariffs

The electric vehicle maker has large factories in California and Texas that churn out all the cars it sells in the US

Donald Trump may give China reduction in tariffs to get TikTok deal done

ByteDance has an April 5 deadline to find a non-Chinese buyer for TikTok or face a US ban on national security grounds

Trump places 25% tariff on imported cars, targeting $100 bn in tax revenues

US President Donald Trump on Wednesday said he was placing 25 per cent tariff on auto imports, a move that the White House claims would foster domestic manufacturing but could also put a financial squeeze on automakers that depend on global supply chains. "This will continue to spur growth. We'll effectively be charging a 25 per cent tariff," Trump told reporters. The tariffs could be complicated as even US automakers source their components from around the world, meaning that they could face higher costs and lower sales. Shares in General Motors have fallen roughly 3 per cent in Wednesday afternoon trading. Ford's stock was up slightly. Shares in Stellantis, the owner of Jeep and Chrysler, have dropped nearly 4 per cent. Trump has long said that tariffs against auto imports would be a defining policy of his presidency, betting that the costs created by the taxes would cause more production to relocate to the United States. But US and foreign automakers with domestic plants still

India to drop ‘Google Tax’ to avoid Trump’s tariff threat: What’s the impact? | Tariff war

In a major policy shift, the Indian government has decided to scrap the 6% equalisation levy, popularly known as the Google Tax. What does this mean? Watch the video to find out.

Tariff moves, FIIs trading activity to drive markets this week: Report

Global trends, tariff-related updates and trading activity of foreign investors would be the key drivers for the equity market movement this week, analysts said. Markets witnessed a strong rebound last week, with the benchmark indices surging over 4 per cent. The rally was fuelled by improving investor sentiment, improvement in foreign capital flows, and positive global developments, an expert said. "We expect this upward momentum to continue, on the back of foreign institutional investors' return to the Indian market amid attractive valuations and signs of economic recovery," Siddhartha Khemka, Head - Research, Wealth Management, Motilal Oswal Financial Services Ltd, said. Investors would also track the rupee-dollar trend and movement in global oil benchmark Brent crude, an analyst noted. "With no major domestic economic events scheduled, focus will remain on the expiry of March derivatives contracts and FII activity. On the global front, the US markets will be closely watched, w

EU hits back at Trump tariffs with measures on $28 billion of US goods

US-EU trade dispute: The Trump administration recently imposed 25% tariff on European steel and aluminium imports

Markets Today: Feb CPI, Jan IIP; Trump tariffs; FIIs; Super Iron, PDP IPOs

In the previous session, the Sensex ended 0.02 per cent, or 12.85 points, lower at 74,102.32, while the Nifty50 gained 0.16 per cent, or 37.60 points, to 22,497.90

Mukesh Ambani's empire faces turbulence as US trade tariff risks mount

The concern in New Delhi is that any retaliatory trade action by Washington will cover broader ground than just India's massive tariffs

Buy Dixon, Samvardhana as US tariffs may boost electronics exports: Nomura

Nomura pointed out that India is strategically positioned to capitalise on these changes, especially as the US looks to adjust its approach to trade with India, particularly in electronics

As Trump launches the tariff war, how can India safeguard its interests?

With Trump enforcing reciprocal tariffs, India faces trade challenges. Exploring new markets, finalising FTAs, and boosting manufacturing could help counter the impact

Trump's trade war draws swift retaliation from Mexico, Canada, and China

President Donald Trump launched a trade war Tuesday against America's three biggest trading partners, drawing immediate retaliation from Mexico, Canada and China and sending financial markets into a tailspin as the U.S. faced the threat of rekindled inflation and paralyzing uncertainty for business. Just after midnight, Trump imposed 25% taxes, or tariffs, on Mexican and Canadian imports, though he limited the levy to 10% on Canadian energy. Trump also doubled the tariff he slapped last month on Chinese products to 20%. Beijing retaliated with tariffs of up to 15% on a wide array of U.S. farm exports. It also expanded the number of U.S. companies subject to export controls and other restrictions by about two dozen. Canadian Prime Minister Justin Trudeau said his country would plaster tariffs on more than $100 billion of American goods over the course of 21 days. Today the United States launched a trade war against Canada, their closest partner and ally, their closest friend. At the

Trump tariff is not 'negative' for Hindalco's India business: Satish Pai

Chinese aluminium imports no longer cheaper and country can't afford to dump metal in India, says company's MD

Reciprocal tariffs by Trump admin may not hurt India much, says GTRI

The US government's move to impose reciprocal tariffs to match higher duties levied by its trading partners is not likely to hurt India much as there are differences in the export profiles of the two countries, economic think tank GTRI said on Friday. Citing an example, the Global Trade Research Initiative (GTRI) said that if the US charges 50 per cent reciprocal tariffs on Indian pistachios because India charges the same, India is happy as it does not export pistachios. Additionally, for 75 per cent value of the US exports to India, the average tariff is less than 5 per cent, GTRI Founder Ajay Srivastava said. In contrast, India faces high US tariffs on many labour-intensive goods like textiles, garments, and footwear, ranging between 15-35 per cent on several products, he added. "Given the differences in the export profiles of the two countries, reciprocal tariffs may not have a significant impact...In the new Trump era, India may wait to see the US decision in April on reciproca

Know all about Donald Trump's tariffs and threatened trade actions

Trump said he would impose reciprocal tariffs, seemingly targeting countries that have levies on US goods