Page 4 - Trump Tariff

Centre says trade team to visit US this week as bilateral talks progress

The negotiations resumed last month as both sides sought to ease tensions following President Donald Trump's decision to slap India with the highest tariffs in Asia

World Bank cuts South Asia outlook to 5.8% on Trump tariffs to India

Washington-based institution projected South Asia's growth to ease to 5.8 per cent in 2026, down from 6.6 per cent this year, a sharper slowdown than previously anticipated.

US to impose 25% tariffs on imported trucks from Nov 1, says Trump

President Donald Trump on Monday announced that his administration will impose 25 per cent tariffs on all medium and heavy-duty trucks coming into the US from other countries beginning next month. Trump, in a post on his social media platform Truth Social, said, Beginning November 1st, 2025, all Medium and Heavy Duty Trucks coming into the United States from other Countries will be Tariffed at the Rate of 25%. The US trucking industry is a cornerstone of the national economy, moving roughly 73 per cent of all domestic freight, according to the American Trucking Associations, Fox Business reported. Around two million Americans work as heavy and tractor-trailer truck drivers, with many more employed as mechanics and support staff, according to data provided by the US Chamber of Commerce. The top five import countries by customs value are Mexico, Canada, Japan, Germany and Finland, it said.

Countries that maintain more openness will grow more: Anne Krueger

The position of any country, including India, will depend on what they do and how they react to geopolitical uncertainties

Putin orders steps to ease India-Russia trade imbalance amid Trump tariffs

Criticising US pressure on India and China to cut energy ties with Moscow, Putin said Trump's tariffs could backfire and pledged to reduce trade imbalance with New Delhi

Others exploited US for years, tariffs now ensure fair treatment: Trump

"I love tariffs. Most beautiful word... Tariff is my favourite word... We're becoming rich as hell...," said US President Donald Trump

Tariff uncertainties may spur rise in third-party pharma manufacturing

Analysts say Indian drugmakers may lean on CDMOs, US plants and diversification to safeguard high-value products as Trump's 100% tariff threat looms over patented drugs

US commerce secy calls for India to open mkts, stop actions harming America

Lutnick said that India must open its markets and take actions that would not 'harm' the US

Indian pharma firms likely to dodge immediate impact of Trump's tariff

Trump's 100% tariffs on branded drugs will spare Indian generics, though analysts see exposure for Sun Pharma, Biocon and Aurobindo, with Jubilant Pharmova set to benefit

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Hemin Bharucha, from London & Partners, shares practical insights on global expansion, the India-UK FTA, and the skills you need to thrive in the global business world. >

Trump announces 100% tariff on pharma imports; duties on trucks, furniture

Trump said the new tariffs would not apply to companies that are actively building pharmaceutical manufacturing facilities in the US

JPMorgan sees India as 'bright spot' despite Trump tariff concerns

India has borne the brunt of policy changes by the US administration, with a 25 per cent reciprocal levy on the country being doubled because of its purchases of Russian oil

US may cut tariff to 10-15%, penal duty likely to go: CEA Nageswaran

Chief Economic Advisor V Anantha Nageswaran said, according to his intuition, the penal tariff was unlikely to continue beyond November 30

No direct impact of US tariffs on domestic industry, says steel secy

The imposition of tariffs by the US will not have a direct impact on the domestic steel industry as India's own consumption of the alloy is growing, Steel Secretary Sandeep Poundrik said on Wednesday. Besides, the exports of steel to the US is around lakh tonnes -- out of 152 million tonnes production, the senior ministry official said in a session at 'FT Live Energy Transition Summit India' in the national capital. "So, if we take direct impact on steel, it's not much because, practically speaking, we don't export much steel to the US," Poundrik said in reply to a question related to the US tariffs. Last year, India's total steel exports to the US stood at around 1,00,000 tonnes. Similarly, India does not import much steel from the US. So, the steel trade between India and the US is not very direct, he said. However, there may be some indirect impact because of the products made of steel that are traded between the two countries, Poundrik said. The domestic production of steel wa

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