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US President Donald Trump is set to announce his reciprocal tariffs plan on Wednesday during an event in the White House Rose Garden
Financial experts warn of economic slowdown as new tariffs disrupt global trade, heightening concerns over inflation, job losses, and market instability in the US
Senate Republicans said they are pushing ahead on President Donald Trump'sbig bill of tax breaks and spending cuts this week, even though they're punting some of the most difficult decisions including the costs and how to pay for the multitrillion-dollar package until later. The Senate GOP's budget framework would be the companion to the House Republicans' $4.5 trillion tax cuts package that also calls for slashing some $2 trillion from health care and other programs. If the Senate can move the blueprint forward, it edges Trump's allies on Capitol Hill closer to a compromise setting the stage for a final product in the weeks ahead. Obviously we are hopeful this week we can get a budget resolution on the floor that will unlock the process, said Senate Majority Leader John Thune, R-S.D. And so we are continuing to move forward with that. While big differences remain, Republicans face increasing political pressure to deliver on what is expected to be Trump's signature domestic policy
White House Press Secretary confirmed that the reciprocal tariffs will be effective immediately after Trump's announcement. However, a 25 per cent tariff on auto imports will be effective from April 3
The lack of details so far on the structure, size and targets of the levies have left the world "flying blind" heading into the big announcement day, according to Nomura
Trump has declared April 2 as 'Liberation Day', asserting that the tariffs will liberate the US from its dependence on foreign goods
Trump first targeted fully assembled vehicles with a 25% duty from April 3, while additional tariffs on car parts like engines, transmissions, and electrical systems are set to take effect on May 3
Several proposals are said to be under consideration, including a tiered tariff system with a set of flat rates for countries, as well as a more customised reciprocal plan
With President Donald Trump's so-called Liberation Day of tariff implementation fast approaching, Senate Democrats are putting Republican support for some of those plans to the test by forcing a vote to nullify the emergency declaration that underpins the tariffs on Canada. Republicans have watched with some unease as the president's attempts to remake global trade have sent the stock market downward, but they have so far stood by Trump's on-again-off-again threats to levy taxes on imported goods. Even as the resolution from Democratic Sen. Tim Kaine of Virginia offered them a potential off-ramp to the tariffs levied on Canadian imports, Republican leaders were trying to keep senators in line by focusing on fentanyl that comes into the US over its northern border. It was yet another example of how Trump is not only reorienting global economics, but upending his party's longtime support for ideas like free trade. I really relish giving my Republican colleagues the chance to not just
Dubs India's 17% average import levy 'highest of any major world economy', before reciprocal tariff rollout
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Protectionist policies will raise the prices of active ingredients for these producers, many of whom may have little recourse to return manufacturing to the US in the short term
Trump has for weeks put a circle around April 2 as a "Liberation Day" to impose an array of new tariffs that could upend the global trade system, but has provided few details
Trump on April 2 plans to roll out tariffs on global trading partners during an event planned for 4 pm in the White House Rose Garden
From auto to tech: What sectors will be most impacted by Trump reciprocal tariffs that will go into effect on April 2
Global consultancy firm PwC has suggested IDEA (Invest, Diversify, Express, stay Aware) Framework for Indian businesses to navigate trade uncertainties following the decision by the US administration to impose reciprocal tariff. Since the United States (US) presidential elections in November 2024, global trade dynamics have shifted significantly. The Donald Trump administration has already implemented several tariff measures impacting major economies. The reciprocal tariff, which will impact India, is scheduled to take effect on April 2. According to PwC report, the evolving US trade policies, including tariff realignments and other measures, require Indian businesses to develop a long-term resilience strategy. The IDEA Framework provides a structured approach to navigate trade uncertainties and leverage emerging opportunities, it said. Under the Invest Framework, PwC suggested that businesses should put in money for technology upgradation and AI-driven supply chain solutions. To
Jitin Prasada's reply in Parliament comes just a day before US President Donald Trump's proposed reciprocal tariffs come into effect
India must firmly assess each demand of the US through the lens of its own national priorities, development goals, and cultural values amid continuous pressure of America to amend trade policies, think tank GTRI said on Tuesday. Commenting on the US Trade Representative's (USTR) National Trade Estimate (NTE) Report 2025, the Global Trade Research Initiative (GTRI) said that many of the proposed changes in areas like agriculture, digital governance, and public health pose serious risks to India's ability to protect its small farmers, maintain food safety, uphold deeply rooted social norms, and secure its digital future. The USTR's report highlights several trade and regulatory challenges between the US and India, including issues related to tariffs, non-tariff barriers, intellectual property, services, digital trade, and transparency. "Most of the issues are repeat of the earlier reports. Few have been resolved and are no longer relevant," GTRI Founder Ajay Srivastava said. On India
The 2025 National Trade Estimate (NTE) report, released on Monday, details how India's tariff and non-tariff policies remain among the most restrictive in major global economies
Business sentiment among large Japanese manufacturers has worsened for the first time in a year, partly because of worries about US President Donald Trump's tariffs, according to a survey by Japan's central bank released Tuesday. The Bank of Japan's tankan quarterly survey said an index for large manufacturers that shows the percentage of companies foreseeing good conditions minus those feeling pessimistic fell to plus 12 from plus 14 in December, the first dip in four quarters. Major manufacturers include the key auto and electronics sectors, whose exports to the US are a major driver for the Japanese economy. A shrinking population has also dragged on Japan's growth, while rising wages and a tourism boom have helped. US auto tariffs are a worry for major manufacturers like Toyota Motor Corp. and Nissan Motor Corp. Prime Minister Shigeru Ishiba said Tuesday that his government was engaged in last ditch efforts to get the United States to exclude his country from auto tariffs. He