Page 17 - Trump Tariff

India better off than key export rivals China, Vietnam: ICEA on US tariffs

The imposition of 27 per cent tariffs by the US still positions India more favourably compared to electronics export rivals like China, Vietnam, and Indonesia, as these nations face even higher rates, according to the India Cellular and Electronics Association (ICEA). That said, the true long-term inflection point for India's electronics trade with the US will hinge on the successful conclusion of a bilateral trade pact, the industry body said. The comment assumes significance as the US has slapped a 27 per cent tariff on imports from India. "While some countries like Brazil and Egypt enjoy marginally better tariff outcomes, India's positioning, particularly with China and Vietnam facing combined tariffs of up to 54-79 per cent, (China) and Vietnam at 46 per cent offers a valuable near-term window of export competitiveness," Pankaj Mohindroo, Chairman of ICEA said. He, however, added in the same breath that "the true long-term inflection point for India's electronics trade with the

Senate vote to reverse Trump's tariffs on Canada tests Republican support

With President Donald Trump's so-called Liberation Day of tariff implementation fast approaching, Senate Democrats are putting Republican support for some of those plans to the test by forcing a vote to nullify the emergency declaration that underpins the tariffs on Canada. Republicans have watched with some unease as the president's attempts to remake global trade have sent the stock market downward, but they have so far stood by Trump's on-again-off-again threats to levy taxes on imported goods. Even as the resolution from Democratic Sen. Tim Kaine of Virginia offered them a potential off-ramp to the tariffs levied on Canadian imports, Republican leaders were trying to keep senators in line by focusing on fentanyl that comes into the U.S. over its northern border. It was yet another example of how Trump is not only reorienting global economics, but upending his party's longtime support for ideas like free trade. I really relish giving my Republican colleagues the chance to not jus

Will US tariffs succeed in lifting the veil on India's drug safety problem?

Over 30 per cent of Indian pharma exports go to the US, and it provides an even larger proportion of earnings

Trump's promised 'Liberation Day' of tariffs coming: Here's what it means

President Donald Trump says Wednesday will be Liberation Day" a moment when he plans to roll out a set of tariffs that he promises will free the United States from foreign goods. The details of Trump's next round of import taxes are still sketchy. Most economic analyses say average US families would have to absorb the cost of his tariffs in the form of higher prices and lower incomes. But an undeterred Trump is inviting CEOs to the White House to say they are investing billions of dollars in new projects to avoid the import taxes. It is also possible that the tariffs are short-lived if Trump feels he can cut a deal after imposing them. At stake are family budgets, America's prominence as the world's leading financial power and the structure of the global economy. What exactly does Trump plan to do? He wants to announce import taxes, including reciprocal tariffs that would match the rates charged by other countries and account for other subsidies. Trump has talked about taxing the

'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