Page 6 - Trump Tariff

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

We have secured historic trade deals with UK, China, Japan, and EU: Trump

Trump said, foreign nations are now paying hundreds of billions of dollars straight into our treasury, we are receiving trillions of dollars, far beyond billions

RBI won't be found wanting if 50% US tariff hurts growth: Governor

Says Basel-III norms for credit and market risks likely from April 2027

Indian envoy discusses fair trade with US lawmakers amid tariff tensions

Indian envoy Vinay Mohan Kwatra discussed fair, balanced and mutually beneficial trade ties with US lawmakers amid ongoing tariff tensions between New Delhi and Washington. The Indian Ambassador has met four US lawmakers in the last 24 hours and 23 since August 9, as revealed by his social media posts. Kwatra met Congressman Rep Joe Courtney, Ranking Member of the Subcommittee on Seapower and Projection Forces, on Saturday (local time) and thanked him for supporting the bilateral partnership between the two countries. Highlighted our perspectives on trade and economic cooperation, including the need for fair, balanced and mutually beneficial trade ties, Kwatra posted on social media. He also had a productive discussion with Congressman Gabe Amo, Vice Ranking Member of the House Foreign Affairs Committee Democrats. He appreciated Amo's support for the bilateral ties and shared perspectives on the importance of fair, balanced and mutually beneficial trade engagements, said his soc

European postal services suspend shipment of packages to US over tariffs

The end of an exemption on tariff duties for low-value packages coming into the United States is causing multiple international postal services to pause shipping as they await more clarity on the rule. The exemption, known as the de minimis" exemption, allows packages worth less than $800 to come into the U.S. duty free. A total of 1.36 billion packages were sent in 2024 under this exemption, for goods worth $64.6 billion, according to data from the US Customs and Border Patrol Agency. It is set to expire on Friday. On Saturday, postal services around Europe announced that they are suspending the shipment of many packages to the United States amid confusion over new import duties. Postal services in Germany, Denmark, Sweden and Italy said they will stop shipping most merchandise to the U.S. effective immediately. France and Austria will follow on Monday. The U.K.'s Royal Mail said it would halt shipments to the US on Tuesday to allow time for those packages to arrive before duties

Global postal services halt US parcels as de minimis tariff deadline nears

As of Aug 29, President Donald Trump is ending the so-called de minimis exemption that has applied to more than 4 million parcels processed by US Customs and Border Protection each day

China's $11 trillion stock market is a headache for both Xi, Trump

Even after a recent rally, Chinese indexes have only just returned to levels seen in the aftermath of a dramatic bubble burst a decade ago

US-India bilateral trade talks scheduled from August 25 called off: Report

A US team, which was scheduled to visit India from August 25, for the next round of negotiations for the proposed bilateral trade agreement is likely to defer the meeting to a later date, an official said. So far, five rounds of talks have been completed for the proposed bilateral trade agreement (BTA) and a US team is scheduled to visit India for the sixth round of talks. The negotiations were scheduled from August 25-29. "This visit is likely to be rescheduled," the official, who did not wish to be named, said. Deferment or rescheduling of the meeting assumes significance as the US has announced a staggering 50 per cent duty on Indian goods. The US is pressing for greater market access in politically sensitive areas such as agri and dairy sectors, which India cannot accept as it affects the livelihood of small and marginal farmers. India has stated that it will not compromise the interests of farmers and cattle rearers. The US and India have announced plans to conclude the fir

EU push to protect digital rules holds up trade statement with US: Report

EU officials said disagreements over language relating to non-tariff barriers, which the US said include the digital rules, are among the reasons for the hold-up

India facing tough choices in responding to steep Trump tariffs: GTRI

India is facing tough choices in responding to steep US tariffs - from negotiating or retaliating to diversifying export markets or offering trade concessions like ending Russian oil imports - but each option carries its own mix of benefits and risks, think tank GTRI said on Friday. The Global Trade Research Initiative (GTRI) said that India marks its Independence Day this year under the shadow of a bruising trade confrontation with Washington. The Trump administration's decision to slap a 50 per cent country-specific tariff on most Indian goods, on top of existing most favoured nation duties, has thrust India into a strategic dilemma that could reshape its trade, energy, and diplomatic positioning. "For New Delhi, the choices ahead are stark - negotiate, retaliate, diversify markets, or trade concessions such as ending purchases of Russian oil for tariff relief. Each option carries a different mix of gains and risks," GTRI Founder Ajay Srivastava said. He added that India will ...

Indian solar panel exporters on edge as US launches anti-dumping probe

US initiates anti-dumping and countervailing duty investigations on Indian solar exports, adding pressure to shipments already facing 50% tariffs

Trump's 50% trade tariff threatens India's manufacturing ambitions

Trump's move would give India the highest tariff rate in Asia, threatening a manufacturing sector that Prime Minister Narendra Modi has spent a decade trying to build

Should Intel's treatment worry Silicon Valley's powerful Indian diaspora

The problem is a fear, both in Washington and in Silicon Valley, that the US and Chinese tech ecosystems are not complements but rivals.

Brazil's Lula announces $5.5 bn in credits for exporters hit by US tariffs

The Brazilian government on Wednesday unveiled a plan to support local exporters affected by a 50 per cent tariff imposed by US President Donald Trump on several products from the South American nation. Dubbed Sovereign Brazil," the plan provides for a credit lifeline of 30 billion reais (USD 5.5 billion), among other measures. Brazil's President Luiz Incio Lula da Silva described the plan, which includes a bill to be sent to Congress, as a first step to help local exporters. Congressional leaders attended Wednesday's ceremony, a first in months, in a sign of growing political support for the leftist leader in response to Trump's tariffs. Other measures announced by the Brazilian government include postponing tax charges for companies affected by US tariffs, providing 5 billion reais (USD 930,000) in tax credits to small and medium-sized companies until the end of 2026 and expanding access to insurance against cancelled orders. The plan also incentivises public purchases of items th

India's trade dilemma: Shield farmers, textiles or risk US cotton tariffs

Losing access to the US consumer may hurt India's farm economy more than slashing its 39 per cent average tariff on imported produce

Trump's 50% tariffs forcing Indian banks to scrutinise exporters' loans

Lenders are asking borrowers more pointed questions when vetting new export financing proposals or renewals of such funding

In India, Trump's tariffs spark calls to boycott American goods, companies

There's a growing chorus both on social media and offline to buy local and ditch American products after Donald Trump imposed a 50 per cent tariff on goods from India

US inflation likely to rise in July as higher tariffs drive up prices

The core consumer price index, regarded as a measure of underlying inflation because it strips out volatile food and energy costs, rose 0.3 per cent in July, according to the Bloomberg survey