Page 108 - Latest Updates on Trump tariffs

US tariffs to hit pharma sector, while auto industry impact remains minimal

Enhanced tariffs on pharma imports in the US can severely impact Indian drug manufacturers as it would lead to higher production costs, making shipments less competitive against products from other countries. Smaller drug firms operating on thin margins can face severe pressure potentially forcing consolidation or closure. The automobile sector, on the other hand, is expected to have a very minimal impact owing to the US being a small export market. Terming India as a very high tariff nation, US President Donald Trump has said that reciprocal tariffs on countries that impose levies on American goods will kick in on April 2. India currently levies around 10 per cent import duty on American drugs, while the US doesn't charge any import duty on Indian drugs. Shardul Amarchand Mangaldas & Co Partner Arvind Sharma said as of recent history, the US has been a net importer of pharmaceutical products to meet its domestic demand. "In the event the US decides to impose substantial tariffs

China adapted to Trump's trade war, changed strategy when new tariffs came

The leaders of both Canada and Mexico got on the phone with President Donald Trump this past week to seek solutions after he slapped tariffs on their countries, but China's president appears unlikely to make a similar call soon. Beijing, which unlike America's close partners and neighbours has been locked in a trade and tech war with the US for years, is taking a different approach to Trump in his second term, making it clear that any negotiations should be conducted on equal footing. China's leaders say they are open to talks, but they also made preparations for the higher US tariffs, which have risen 20 per cent since Trump took office seven weeks ago. Intent on not being caught off guard as they were during Trump's first term, the Chinese were ready with retaliatory measures imposing their own taxes this past week on key US farm imports and more. As Washington escalates the tariff, Beijing doesn't see other options but to retaliate, said Sun Yun, director of the China programme

India has agreed to cut tariffs, says Trump amid bilateral trade talks

India and the US are holding discussions on a bilateral trade agreement (BTA) aimed at reducing tariff and non-tariff barriers

India has signaled readiness to make deeper tariff cuts, says Donald Trump

Preserving India's access to the US market is a priority for Prime Minister Narendra Modi as he seeks to shield his country from reciprocal duties Trump has indicated will take effect next month

'Unfortunate to reduce tariffs on US under Trump's pressure': Manish Tewari

Tiwari criticised the NDA-led government, saying that India has a history and a tradition of never buckling under any pressure and suggested that government should've accepted reciprocal tariffs

'Somebody is finally exposing them': Trump attacks India's tariffs regime

This development comes as the US prepares to introduce reciprocal tariffs on countries that impose high levies on American goods

As Trump launches the tariff war, how can India safeguard its interests?

With Trump enforcing reciprocal tariffs, India faces trade challenges. Exploring new markets, finalising FTAs, and boosting manufacturing could help counter the impact

US economy generated 160K jobs in Feb, but Trump's trade wars cloud outlook

The US labour market likely kept on churning out jobs last month, economists say, but the outlook is cloudy and getting cloudier as the Trump administration wages trade wars, purges federal employees and seeks to deport millions of immigrants. When the Labour Department releases February jobs numbers Friday, they're expected to show that employers added 160,000 jobs. That's far from spectacular but it's solid, and it's up from 143,000 in January. The unemployment rate is forecast to stay at a low 4%, according to economists surveyed by the data firm FactSet. Despite rising concerns about the health of the economy, momentum remains positive,' Lydia Boussour, senior economist at the tax and consulting firm EY, wrote in a commentary. Billionaire Elon Musk's purge of federal workers is not expected to have much impact on the February jobs numbers. The Labour Department conducted its survey of employers too early in the month for the Department of Government Efficiency layoffs to show ..

'India very high tariff nation': Trump as he warns of reciprocal tariffs

This is the second time that Trump has commented about India's tariffs. Previously, Trump has also called India a 'tariff king'

Markets Today: Trump on mkts; FII; Nasdaq; Nikkei; Balaji, NAPS Global IPOs

Stock Market Today: As of 6:33 AM, GIFT Nifty Futures were down 75 points at 22,545, hinting at a negative start.

Donald Trump changes course, delays some tariffs on Mexico and Canada

President Donald Trump on Thursday postponed 25 per cent tariffs on many imports from Mexico and some imports from Canada for a month amid widespread fears of the economic fallout from a broader trade war. The White House insists its tariffs are about stopping the smuggling of fentanyl, but the taxes proposed by Trump have caused a gaping wound in the decades-old North American trade partnership. Trump's tariff plans have also caused the stock market to sink and alarmed U.S. consumers. In addition to his claims about fentanyl, Trump has insisted that the tariffs could be resolved by fixing the trade deficit and he emphasised while speaking in the Oval Office that he still plans to impose reciprocal tariffs starting on April 2. Most of the tariffs go on April the second, Trump said before signing the orders. Right now, we have some temporary ones and small ones, relatively small, although it's a lot of money having to do with Mexico and Canada. Trump said he was not looking to exten

Trump holds talks with Mexican Prez, delays 25% tariff plans till Apr 2

President Donald Trump said Thursday that he has postponed 25 per cent tariffs on most goods from Mexico for a month after a conversation with that country's president. Trump's announcement comes after his Commerce Secretary, Howard Lutnick, said tariffs on both Canada and Mexico would likely" be delayed. This is the second one-month postponement Trump has announced since first unveiling the import taxes in early February. The reprieve would apply to goods that are compliant with the trade agreement Trump negotiated with Canada and Mexico in his first term. We are working hard, together, on the Border, both in terms of stopping Illegal Aliens from entering the United States and, likewise, stopping Fentanyl, Trump said on Truth Social. Trump's on-again, off-again tariffs threats have roiled financial markets, lowered consumer confidence, and enveloped many businesses in an uncertain atmosphere that could delay hiring and investment. Lutnick emphasised that reciprocal tariffs, in wh

Canada will be in trade war with US for 'foreseeable future', says Trudeau

Donald Trump launched a new trade war by imposing tariffs against Washington's three biggest trading partners, drawing immediate retaliation from Mexico, Canada and China

India is closely monitoring trade talks with US, says FM Sitharaman

Commerce Minister Piyush Goyal is currently in the US for discussions aimed at safeguarding Indian exporters' interest

TSMC's CEO to hold press conference at Taiwan presidential office

Trump has repeatedly criticised Taiwan, saying it has taken away American semiconductor business and that he wants manufacturing to return to the United States

Asian shares rebound as investors cheer Trump's pullback on some tariffs

Asian shares were mostly higher Thursday, tracking a rebound on Wall Street after President Donald Trump pulled back on some of his tariffs hikes. US futures were little changed, while benchmarks surged in Japan and China. Trump's decision to give a one-month exemption for US automakers on his 25% tariffs for Mexican and Canadian imports raised hopes he may avoid a worst-case trade war that grinds down economies and sends inflation higher. Tokyo's Nikkei 225 index gained 0.8% to 37,704.93. Japanese automakers' shares surged in US trading, though Toyota Motor Corp's shares fell back in Tokyo trading. losing 1%. Honda Motor Corp. gained 2% and Nissan Motor Co. rose 1.1%. Hong Kong's Hang Seng index jumped 3.3% to 24,362.68 following Chinese government reports to the annual legislative session that showed a greater resolve by Beijing to boost consumer spending and other domestic demand. The Shanghai Composite index advanced 1.2% to 3,381.10. South Korea's Kospi jumped 0.7% to 2,576.

Russia has become a threat to France and Europe: French President Macron

French President Emmanuel Macron's message to EU: Europe must prepare itself for an era of uncertainty and take greater responsibility for its defence

'Bear with me', says Trump as farmers, consumers brace for tariff effects

Farmers and meat producers across the US can expect the new tariffs on Mexico, Canada and China and the retaliatory action from those countries to hurt their bottom lines by billions of dollars if they stay in place a while, and consumers could quickly see higher prices for produce and ground beef. But some of the impact on farmers might not be felt until the next harvest and some products might actually get cheaper in the short run for consumers if exports suffer. And the price of corn, wheat and soybeans accounts for relatively little of the price of most products. Plus, President Donald Trump could offer farmers significant aid payments, as he did during the trade war with China during his first administration, to offset some of the losses. In his address to Congress Tuesday night, Trump argued that agricultural imports hurt American farmers and asked them to "bear with me again" as he seeks to protect them. He didn't mention any additional aid. I love the farmer, he said. If t

'President Trump has been very tough on China', says US press secy

The remarks by the White House Press Secretary Karoline Leavitt came after Trump doubled the tariff on all Chinese imports to 20 per cent from 10 per cent

After Trump's tariffs, Mexico seeks Asian, European crude oil buyers

The official said potential Chinese buyers were "very interested" in initial conversations, adding that "demand will decide how these flows are redirected"