Page 4 - Trump Tariff

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

India holds informal talks with US, rules out retaliation for now

While talks on a bilateral trade deal have been postponed, the two countries continue to communicate on critical issues, including defense and foreign policy

Indian economy likely grew solidly before Trump tariffs hit outlook

India's gross domestic product probably expanded 6.7 per cent in the three months to June, the first quarter of the financial year, according to the median estimate in a Bloomberg survey

Zuckerberg raised digital tax concerns with Trump before tariff vow

Trump and Zuckerberg discussed the threat of digital service taxes, which are imposed on the revenue that tech companies get from users in a particular country

US chokes off e-commerce tsunami by closing 'de minimis' loophole

A US trade provision dating to the 1930s, which eventually cleared the way for more than a billion small parcels each year, ends on Friday

Navarro backs Trump tariffs, says road to Ukraine peace runs through Delhi

White House adviser Peter Navarro has accused India of funding Moscow's war through Russian oil buys, defending Trump's 50% tariffs and warning that 'the road to peace in Ukraine runs through New Del

India must not give in to any 'bullying': MSIL's RC Bhargava on tariffs

On the domestic front, he said reducing GST on small cars could help counter the economic strain created by American tariffs

US tariffs to worsen India's solar panel glut as domestic bidding slows

India's awards of solar generation projects and new tenders slowed dramatically in the quarter ended June

India must impose higher tariffs on US imports, says Arvind Kejriwal

Aam Aadmi Party's national convener Arvind Kejriwal on Thursday demanded that India impose higher tariffs on US imports, asserting that the whole country will support this decision. Addressing a press conference, Kejriwal alleged that the BJP-led Central government has decided to waive off 11 per cent duty on cotton imported from the US, which could impact the business of local farmers here. There was no immediate reaction from the Central government. The AAP chief said that Prime Minister Narendra Modi's decision could prove detrimental for India's farmers. He demanded that the government impose higher tariffs on US imports. "Other countries did not bow down. They imposed higher tariffs. We should also impose higher tariffs. If the US is imposing 50 per cent tariffs, we should double the tariffs to 100 per cent. The whole country will support this decision. No country can afford to offend India. We are a nation of 140 crore people," he said.

Govt extends duty-free cotton imports till Dec 31 to aid textile exporters

The Finance Ministry has extended duty exemption on cotton till December 2025 to ease raw material supply, support garment exporters and cushion the impact of US tariffs on RMG

Why India's Russian oil imports sparked US tariffs amid Ukraine peace talks

White House trade adviser Peter Navarro said India's purchases of Russian crude were funding Moscow's war in Ukraine and had to stop

Centre extends cotton import duty exemption amid US tariff pressure

The world's second-biggest cotton producer had earlier announced an exemption on cotton imports from an 11 per cent duty until September-end and has now extended that to December 31

Nvidia warns Trump's chip fee on China could trigger lawsuits, hit sales

Nvidia cautions that Trump's proposed 15% tariff on AI chip sales to China may lead to litigation, weaken US firms' competitiveness, and benefit foreign rivals

Ramdev calls for boycott of American products over 50% US tariffs on India

"Indian citizens should strongly oppose the 50 per cent tariffs that America has imposed on India as political bullying, hooliganism and dictatorship, said Ramdev

Indian firms delay expansion plans amid demand, trade uncertainty: BofA

Firms are focusing on paying down debt, opting for refinancing rather than expanding capacity, Shankar Subramaniam, the bank's head of India corporate banking said

US firms show interest in Pakistan oil after Trump's claim on reserves

Trump sparked a surge of interest in Pakistan's energy potential after a social media post in July claimed the country has massive oil reserves

US tariff shock to hit Bengal's leather, marine, and engineering exports

The additional 25 per cent tariff imposed by US President Donald Trump on India is set to deliver a major blow to West Bengal's export-driven economy, with the state's labour-intensive leather, engineering and marine sectors expecting losses ahead of the festive season, stakeholders said. The increased levies on Indian products for the country's purchases of Russian oil came into effect on Wednesday, bringing the total amount of tariff imposed on New Delhi to 50 per cent. Exporters said shipments and even production are "currently on hold", amid geopolitical headwinds, intensified by the US tariffs. According to trade estimates, the move will impact at least Rs 45,000 crore worth of Indian exports, with Bengal among the "hardest-hit" states. Labour-intensive industries are under severe pressure. In marine exports, the maximum of Bengal's annual shipments may collapse," Yogesh Gupta, regional chairman (east) of the Federation of Indian Export Organisations (FIEO) and a leading marin

Diwali tax cuts risk worsening India's tariff sting as Trump threat looms

While lower consumption taxes will indeed spur demand, particularly for durables such as autos, TVs and ACs, it may not happen immediately