Page 3 - Trump Tariff

India's exports to US dip as Trump tariffs erode competitiveness: GTRI

India's exports to the US are falling as high tariffs imposed by the Trump administration have started eroding the price competitiveness of domestic goods in Washington, think tank GTRI said on Wednesday. August shipments to the US plunged to USD 6.7 billion, down 16.3 per cent from July -- the steepest monthly fall of 2025 -- as US duties doubled to 50 per cent by month's end, it said. In July, exports dipped 3.6 per cent to USD 8 billion over June. The month of June had also seen a decline of 5.7 per cent to USD 8.3 billion over May. May 2025 was the last month of growth, as shipments to the US rose 4.8 per cent over April to USD 8.8 billion. In April, exports to the US stood at USD 8.4 billion. "The slide in exports closely tracks the rapid escalation of tariffs," Global Trade Research Initiative (GTRI) Founder Ajay Srivastava said. Until April 4, Indian goods entered the US at normal MFN (most favoured nation) rates. From April 5, Washington imposed a universal 10 per cent tar

GSK plans $30 billion US investment as pharma tariff threat looms

The company said its new facilities will bridge R&D and manufacturing across both the US and UK, strengthening the two countries' leadership in life sciences

Trump tariffs are uniting two whiskey heavyweights: Scotch and bourbon

Whiskey distillers say their industry is so intertwined that US tariffs will hurt producers on both sides of the Atlantic

Trump's tariffs hurting India, people losing jobs: Shashi Tharoor

Senior Congress leader Shashi Tharoor on Friday said the tariffs imposed by the US has impacted India with people already losing jobs, even as he lashed out at American President Donald Trump for being "mercurial" in nature and not honouring conventional standards of diplomatic behaviour. US has imposed a 50 per cent tariff, including 25 per cent as penalty for buying Russian oil, on shipments from India. India needs to diversify export markets to mitigate the impact of tariffs, Tharoor said, adding that 1.35 lakh people have lost jobs in gems and jewelery business in Surat and in seafood and manufacturing sectors. "Mr Trump is a very mercurial individual, and the American system gives the President an amazing amount of leeway," Tharoor said while replying to a query related to Indo-US relationship and imposition of tariffs, at a conference organised by CREDAI, India's apex industry body for real estate sector. Continuing with his opinion about Trump, Tharoor said, "Even though the

Mexico's new tariffs on Asian imports aim to counter US trade pressures

Mexican import taxes on more than 1,400 products from China and other Asian countries will be as high as 50 per cent, as the country tries to shore up domestic production and pass on some of the Trump administration's tariff pain. President Claudia Sheinbaum said the tariffs revealed a day earlier in her administration's budget proposal are intended to counter the effects of US tariffs on some products from Mexico, particularly in the automotive sector, which accounts for 23 per cent of Mexico's manufacturing. Among the products that will face the import taxes are light vehicles, auto parts, textiles, shoes, plastics, electronics, toys and other items. The budget is expected to pass easily through Mexico's Congress, where the governing party holds majorities in both chambers. Economy Secretary Marcelo Ebrard said Wednesday that the tariffs would be applied to 8.6 per cent of what Mexico buys abroad and apply only to countries that do not have free trade agreements with Mexico. The

Donald Trump, PM Modi reignite hopes of trade deal at 'the earliest'

India and the US are stepping up trade negotiations as both leaders express confidence in resolving barriers after earlier setbacks over tariffs and Russian oil imports

Centre plans support package for exporters hit by Trump's tariffs

The Ministry of Commerce and Industry has proposed measures to ease liquidity for exporters through collateral-free loans and subsidised interest rates

Trump's tariffs seen cutting into China sales of US companies, survey finds

Many US companies operating in China expect their sales to take a hit this year from US President Donald Trump's tariffs and the ones that China has imposed in response, according to an annual survey released Wednesday by the American Chamber of Commerce in Shanghai. Nearly two-thirds of the 254 companies who responded said the new tariffs have reduced expected revenues for their China operations in 2025. About one-third, many in banking and other industries that don't import from or export to the US, don't expect any impact. Trump has imposed an additional 30 per cent tax on imports from China, after raising them at one point to 145 per cent before the two countries agreed in May to scale back a tit-for-tat tariff war. China has responded with a 10 per cent tax on US imports. The tariffs hit companies that export to the US and those that import American parts or ingredients for their production in China, such as chemical companies, Shanghai chamber leaders said. Tariffs have had a

Kolkata leather units hit by US tariffs, eye UK and EU markets for relief

With US tariffs on leather products doubled to 50%, exporters in Kolkata face shrinking orders and margin pressure, while betting on UK and EU deals for recovery

Govt exploring alternative export markets to shield farmers from US tariffs

The government is actively exploring alternative export destinations and import substitution strategies to protect farmers from the impact of US tariffs, D K Yadava, Deputy Director General (Crop Science) at the Indian Council of Agricultural Research (ICAR), said on Monday. "The government is trying to have all alternatives to protect the interests of farmers. As far as exports are concerned, the concerned ministries are already exploring alternative countries for the export of various commodities," Yadava said at a media briefing about the ongoing event 'Dialogue Next' organised by the US-based World Food Prize Foundation for the first time in India. The remarks came in the backdrop of the Trump administration imposing a steep 50 per cent tariff on Indian goods entering America. On imports of genetically modified soybean and maize, as well as milk and milk products, Yadava said the government has "a very clear stand" and is identifying alternative import sources. The official sai

China boosts LNG imports from Russia, testing Trump's sanctions resolve

Having taken the first-ever overseas export from the Arctic LNG 2 project in Russia in late August, China is now taking more blacklisted Russian LNG

India treads with caution as Trump softens rhetoric after trade tensions

Trump said at the White House on Friday there was nothing to worry about with US-India ties and the two countries had a special relationship

Trump's tariffs threaten vital relationship with India, says US lawmaker

A key US lawmaker Rep. Gregory Meeks said President Donald Trump's arbitrary tariffs against India threaten the vital relationship between the two countries. Meeks, a ranking member of the House Foreign Affairs Committee Democrats, on Wednesday (local time) underscored Congress' support for the US-India partnership, following his meeting with Indian Ambassador to the US Vinay Mohan Kwatra. Met with @AmbVMKwatra to underscore Congress' support for the US-India partnership, which has strengthened over the past 25 years, including through the Quad, House Foreign Affairs Committee Dems posted on social media, quoting Meeks. I reaffirmed our commitment to deeper ties, our shared hope for peace in Ukraine, and my alarm at Trump's arbitrary tariffs that threaten this vital relationship, Meeks said. Responding to Meek's post, Kwatra said, Grateful for his constant counsel and steadfast support to the US-India relationship throughout his leadership on @HouseForeign. Our discussion spanned

Indian exporters lobby RBI for weaker rupee to offset Trump tariffs

Exporters are seeking a rupee exchange rate of around 103 per dollar for US earnings, Pankaj Chadha, chairman of the Engineering Export Promotion Council of India, said

Surat diamond traders express concern as 50% US tariffs hit exports

The industry, which employs over 800,000 skilled artisans, is heavily reliant on the US market, accounting for approximately 32 per cent of India's diamond exports

'We get along with India very well,' says Trump, but calls trade one-sided

Trump maintained that India imposed duties of up to 100 per cent on various goods, which discouraged US firms from exporting there

US wooed India for 30 years, Trump upended ties within few months

The United States is India's largest trading partner, and the tariffs are expected to devastate businesses across a range of sectors, causing factory closings, job losses and slower growth

South Korea exports stay solid on chip demand despite Trump tariffs

Overseas shipments gained 1.3 per cent in August from a year earlier, customs data showed Monday, following a 5.8 per cent increase in July

Govt working on solutions to mitigate impact of US tariff hike: DEA secy

The government is working on an action plan to mitigate the impact of a steep tariff hike of 50 per cent imposed by the US on Indian shipments, Economic Affairs Secretary Anuradha Thakur said. "There are certain employment-heavy sectors which do have exposure to the US and to that extent may get affected. The government is well aware of that and is assessing the possible impact and working towards possible solutions," she told PTI in an interview. Besides, the Department of Economic Affairs (DEA) Secretary said the government has taken some steps and more are in the offing to perk up domestic demand, which could also provide some support to manufacturing units feeling heat of US tariffs. The government in the Budget had announced zero income tax for income up to Rs 12 lakh under the new tax regime providing substantial savings to taxpayers. The government has also announced GST reforms to be carried out in terms of rate rationalisation, which is expected to bring down prices of many

Will come up with measures to expand India's presence in global mkts: Goyal

The Union minister exuded confidence that the measures will ensure that India's exports in the current financial year will exceed that of last year's