Latest Updates on Trump tariffs

Trump grasping for excuses to impose tariffs on India: US Congressman

A senior US lawmaker has said that President Donald Trump is "grasping for excuses" to "slap outrageous tariffs" on India for purchasing Russian oil, urging him to reverse this policy immediately. "President Trump is grasping for excuses to slap outrageous tariffs on #India," Congressman Brad Sherman said in a social media post on Wednesday. Sherman, a senior member of the House Foreign Affairs Committee as well as of the House Financial Services Committee, said in the post that Trump claims tariffs on India are about importing Russian oil. "Yet Hungary imports 90% of its crude from Russia with no tariffs. And China, Russia's biggest oil buyer, hasn't been hit with sanctions tied to purchasing Russian oil, though it has been hit for other reasons. "India gets just 21% of its crude from Russia, but our ally is being singled out. The President should reverse this policy immediately," Sherman said. Earlier this month, the US and India announced that they reached a framework for an ..

Trump admin reaches trade deal with Taiwan to cut tariffs, boost investment

The Trump administration has reached a trade deal with Taiwan, with Taiwan agreeing to remove or reduce 99 per cent of its tariff barriers, the office of the US Trade Representative said. The agreement comes as the US remains reliant on Taiwan for its production of computer chips, the exporting of which contributed to a trade imbalance of nearly USD 127 billion during the first 11 months of 2025, according to the Census Bureau. Taiwan's exports to the US will be taxed at a 15 per cent rate or the US government's "Most Favoured Nation" rate, the USTR's office said on Thursday. The 15 per cent rate is the same as that levied on other US trading partners in the Asia-Pacific region, such as Japan and South Korea. Trade Representative Jamieson Greer attended the signing of the reciprocal agreement, which occurred under the auspices of the American Institute in Taiwan and the Taipei Economic and Cultural Representative Office in the United States. Taiwan's Vice Premier Li-chiun Cheng and

Trump warns Republicans of 'serious consequences' for voting against tariffs

In a Truth Social post, Trump said tariffs have strengthened US economic and national security and warned Republicans against opposing them

House votes to block Trump tariffs on Canada in rare bipartisan rebuke

The House has voted to slap back President Donald Trump's tariffs on Canada, a rare if largely symbolic rebuke of the White House agenda as Republicans joined Democrats over the objections of GOP leadership. Wednesday's tally, 219-211, was among the first times the House, controlled by Republicans, has confronted the president over a signature policy. The resolution seeks to end the national emergency Trump declared to impose the tariffs, though actually undoing the policy would require support from Trump himself, which is highly unlikely. The resolution next goes to the Senate. Trump believes in the power of tariffs to force US trade partners to the negotiating table. But lawmakers are facing unrest back home from businesses caught in the trade wars and constituents navigating pocketbook issues and high prices. "Today's vote is simple, very simple: Will you vote to lower the cost of living for the American family or will you keep prices high out of loyalty to one person -- Donald J

Ready to 'elevate' relationship with India, says US Ambassador Sergio Gor

Gor's comments follow a trade deal announcement between India and the US earlier this week, after almost a year of negotiations between the two countries

Kremlin says India's oil diversification 'nothing new' amid US trade deal

After India-US trade deal, Kremlin says India has always bought oil from many countries; Moscow sees India's plan to diversify oil supplies as nothing new or surprising

Stock Market Close: D-St ends flat as IT selloff drags; Sensex up 78 pts, Nifty ends at 25,737

Sensex Today | Stock Market Highlights, Feb 4: In the broader markets, the Nifty MidCap index gained 0.63 per cent, and the Nifty SmallCap index rose 1.27 per cent

Sensitive sectors safeguarded in US trade deal: Piyush Goyal in Lok Sabha

Parliament Budget session: Piyush Goyal said that India protected sensitive sectors like agriculture and dairy in India-US trade deal, adding that labour-intensive sectors will benefit

US deal, FTAs likely to stitch a new growth story for textiles sector

With the US agreeing to cut tariffs on Indian goods to 18%, industry expects India's textile and apparel exports to gain a competitive edge and post double-digit monthly growth from FY27

Balancing between trade and politics in the evolving India-US equation

The new India-US reciprocal tariff deal offers relief and predictability, but ties market access to strategic concessions, reshaping how bilateral trade will be negotiated

Stock Market Close: Bulls rule D-St as Sensex zooms 2,073 pts; Nifty ends at 25,728 on India-US deal

Sensex Today | Stock Market Close Highlights, February 3, 2026: In the broader markets, the Nifty MidCap 100 and the SmallCap settled 2.84 per cent and 2.82 per cent higher, respectively

No clarity yet: Kremlin on India halting Russian oil imports after US deal

Kremlin spokesman Dmitry Peskov said Russia is closely examining US President Donald Trump's comments on ties with India and, as of now, has not received any statements from New Delhi

'An important and positive first step': USISPF on US-India trade deal

The US-India Strategic Partnership Forum (USISPF) on Monday enthusiastically welcomes US President Donald Trump's announcement following his conversation with Prime Minister Narendra Modi, which reaffirms their shared commitment to deepen the USIndia economic partnership and advance a bilateral trade agreement. India and the US agreed on a trade deal under which Washington will bring down the reciprocal tariff on Indian goods to 18 per cent from the current 25 per cent, US President Donald Trump announced on Monday in a Truth Social post. USISPF said that the reduction of India's reciprocal tariff marks "an important and positive first step." "While the agreement's specifics are pending, today's announcement signals strong political will on both sides to move toward a comprehensive USIndia Bilateral Trade Agreement (BTA) that addresses tariffs, market access, non-tariff barriers, and other trade-related issues across a wide range of sectors," it said. A BTA between the two nations

US tariff cut likely to benefit Indian auto component makers more than OEMs

Brokerages and industry bodies say easing US reciprocal tariffs to 18% will materially boost competitiveness and exports of Indian auto component makers, while gains for vehicle OEMs remain limited

India-US trade deal: What industry leaders say about market access, exports

India-US trade deal drew reactions from industry leaders, who welcomed the tariff cut, saying it will boost exports, create jobs, attract investment and support manufacturing growth

India's rice exporters hope to boost shipments to US after tariff cut

Exporters expect improved competitiveness and higher shipments to the US after the proposed reduction in American tariffs on Indian goods to 18 per cent from 50 per cent