Page 8 - Trump Tariff

This developed country hit with highest tariffs by Trump administration

Luxury watches, coffee capsules, and high-value exports from this EU nation were hit with a steep 39% US tariff on Thursday. A last-ditch effort by the country's president to stop the move also failed

Trump eyes 100% tariff on chips, firms investing in US to be exempted

Firms building in the US to be exempt; Trump signals broader import crackdown as India, Vietnam face new levies

Trump tariffs jolt Malaysia, disrupting solar exports, China trade ties

Once a cog in the Malaysian economy, the solar industry profited from Chinese investment. Now it's becoming a case study of what happens when the United States closes its markets

Trump's tariff shock likely to deepen rupee's slide, hurt recovery further

Analysts at Deutsche Bank AG and Barclays Plc expect the currency to drop to new record lows by the year-end amid muted foreign inflows and headwinds from US tariffs

Our tariff, non-tariff barriers should be cut in our own interest

A US trade delegation is expected in India later this month and hopefully, the negotiators will strike a fair deal acceptable to both countries soon

Exporters seek govt aid, credit at affordable rates to deal with US tariffs

Indian exporters from various sectors, including food, marine, and textiles, have sought financial assistance and affordable credit from the government to cope with the 25 per cent Trump tariff, industry officials said. In a meeting with Commerce and Industry Minister Piyush Goyal in Mumbai, certain exporters sought plans on the lines of the production-linked incentive (PLI) scheme, they added. "Exporters share issues, which they may face in the American market because of the high duty announced by US President Donald Trump," one of the officials said, adding that the minister has suggested that the exporting community send their suggestions in writing. They also demanded loans at affordable rates and fiscal incentives. In India, according to exporters, interest rates range between 8 and 12 per cent or even more, depending on the spread and risk assessment of the borrower by authorised dealer banks. In competing countries, the interest rate is very low. For instance, the central ba

Textile ministry likely to meet industry players next week over US tariffs

Union Textiles Minister Giriraj Singh will meet industry stakeholders next week to deliberate upon the potential impact of US President Donald Trump's announcement to impose a 25 per cent tariff on India and seek their views on the issue, according to sources. The US is India's largest market for textile and apparel exports, accounting for about 25 per cent of the country's total outbound shipment from the sector. Discussions in the meeting will also revolve around realising opportunities arising for India's textile sector from the UK-India FTA, which was signed last month, as the government and industry want to leave no stone unturned to achieve the textile export target of USD 100 billion by 2030, and mitigate the potential impact of the US tariff announcement, sources told PTI. While it would be "premature" to talk about any measures being considered to support domestic textile exporters in light of the US announcement, they said, the government wants to seek the industry's ...

US penalty risk on Russian oil may add ₹9-11 bn to India's import bill

India's annual oil import bill could rise by USD 9-11 billion if the country is compelled to move away from Russian crude in response to US threats of additional tariffs or penalties on Indian exports, analysts said. India, the world's third-largest oil consumer and importer, has reaped significant benefits by swiftly substituting market-priced oil with discounted Russian crude following Western sanctions on Moscow after its invasion of Ukraine in February 2022. Russian oil, which accounted for less than 0.2 per cent of India's imports before the war, now makes up 35-40 per cent of the country's crude intake, helping reduce overall energy import costs, keep retail fuel prices in check, and contain inflation. The influx of discounted Russian crude also enabled India to refine the oil and export petroleum products, including to countries that have imposed sanctions on direct imports from Russia. The twin strategy of Indian oil companies is posting record profits. This is, however, no

Datanomics: Market access vs mass survival in unequal India-US fields

The US move on tariff is seen as its pressure tactics on forcing New Delhi to sign a bilateral trade agreement (BTA) with Washington

To handle Trump's irrationality, India must fix its own bipolar discourse

To protect ourselves from Trumpian diplomacy, we must first introspect the bipolarity within our establishment discourse. You could start with Modi's rise in the summer of 2014

Mixed response in MP to US tariff as exporters explore new markets

Major exports from Madhya Pradesh to the US include agricultural and pharmaceutical products, auto parts, textiles and jewellery

Bangladesh secures 20% US tariff rate, Yunus says 'diplomatic victory'

Bangladesh's relative competitiveness in apparel exports remains unaffected, Bangladesh's Chief Adviser's Press Wing said

US imposes 25% tariff with no exemptions, threatens $25 bn in exports: GTRI

The USA's decision to impose a blanket 25 per cent tariff on all Indian-origin goods effective August 7, without any exemptions, could severely hit the country's exports to America, think tank GTRI said on Friday. According to an analysis of the White House's executive order by the Global Trade Research Initiative (GTRI), the 25 per cent tariff will now be applicable to sectors like pharmaceuticals and electronics, which were earlier exempted from import duties by the US. India will face tariffs of 25 per cent on its exports to the US as President Donald Trump issued an executive order listing the various duties that Washington will impose on exports from countries around the world. In the executive order titled Further Modifying The Reciprocal Tariff Rates', Trump announced tariff rates for nearly 70 nations. "This blanket tariff, approved by President Trump, is one of the toughest trade actions the US has taken against a key trading partner in recent years," GTRI Founder Ajay ...

Asia factory outlook at pandemic low amid Trump's sweeping tariff rollout

Confidence in future output across the region fell to the lowest since July 2020, according to S&P Global purchasing managers' index data

Trump issues order imposing tariffs on 69 nations, India gets 25% hit

Donald Trump has issued an executive order imposing reciprocal tariffs between 10% and 41% on imports from over 70 countries, citing persistent trade imbalances as the reason behind the move

Trump signs order imposing new tariffs on trading partners from August 7

President Donald Trump on Thursday signed an executive order that set new tariffs on a wide swath of US trading partners to go into effect on August 7 the next step in his trade agenda that will test the global economy and sturdiness of American alliances built up over decades. The order was issued shortly after 7 pm on Thursday evening. It came after a flurry of tariff-related activity in the last several days, as the White House announced agreements with various nations and blocs ahead of the president's self-imposed Friday deadline. The tariffs are being implemented at a later date in order for the rates schedule to be harmonised, according to a senior administration official who spoke to reporters on a call on the condition of anonymity. The order capped off a hectic Thursday as nations sought to continue negotiating with Trump. It set the rates for 68 countries and the 27-member European Union, with a baseline 10% rate to be charged on countries not listed in the order. The ...

Trump strikes oil deal with Pakistan, says 'maybe they'll sell to India'

Trump announced a new oil partnership with Pakistan via Truth Social, saying both the nations would jointly develop reserves and hinting that Islamabad may one day supply oil to India

India's rice exports to stay resilient despite US tariff: Exporters' body

An association of rice exporters on Thursday said the 25 per cent tariff imposed by the US on Indian goods, including rice, will be a "temporary hurdle" and not a major disruption for the sector. The new tariff, effective from August 1, includes duties on Indian rice exports to the US, which stood around 2.34 lakh tonnes in FY'24, a small share of India's total 52.4 lakh tonnes of global basmati rice exports, the association said. "This tariff is a temporary hurdle, not a long-term roadblock. With strategic planning, diversification, and flexibility, Indian rice exporters can protect and even expand their presence in the US market," Indian Rice Exporters Federation (IREF) national president Prem Garg said. US President Donald Trump announced the imposition of a 25 per cent tariff on all goods coming from India starting August 1, plus an unspecified penalty for buying military equipment and crude oil from Russia. He noted that the US is not the top basmati market for Indian exporter

US announces 50% tariff on copper; to have limited impact on India

The US has announced a steep 50 per cent tariff on imports of semi-finished copper and copper-based products from August 1, a move which will have a limited impact on India's exports from this sector to America. A White House executive order, dated July 30, said that copper is being imported into the United States in quantities and under circumstances that threaten to impair the national security of the US. "...all imports of semi-finished copper products and intensive copper derivative products...shall be subject to a 50 per cent tariff. This tariff shall be effective with respect to goods entered for consumption, or withdrawn from warehouse for consumption, on or after 12:01 a.m. eastern daylight time on August 1, 2025, and shall continue in effect, unless such action is expressly reduced, modified, or terminated," it said. India exported copper products worth USD 360 million to the US in FY2025, including plates, tubes, and other semi-finished forms. These shipments will now be .

China's small workshops are hurting. Trump's tariffs are only one reason

The US-Chinese cease-fire left exporters with crippling tariffs, worsening a slowdown for light-industry factories caused by China's shift to advanced manufacturing