Page 38 - Latest Updates on Trump tariffs

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

US national debt reaches record $37 trillion, Treasury Department reports

The US government's gross national debt has surpassed USD37 trillion, a record number that highlights the accelerating debt on America's balance sheet and increased cost pressures on taxpayers. The USD37 trillion update is found in the latest Treasury Department report issued Tuesday which logs the nation's daily finances. The national debt eclipsed USD37 trillion years sooner than pre-pandemic projections. The Congressional Budget Office's January 2020 projections had gross federal debt eclipsing USD37 trillion after fiscal year 2030. But the debt grew faster than expected because of a multi-year COVID-19 pandemic starting in 2020 that shut down much of the U.S. economy, where the federal government borrowed heavily under then-President Donald Trump and former President Joe Biden to stabilise the national economy and support a recovery. And now, more government spending has been approved after Trump signed into law Republicans' tax cut and spending legislation earlier this year. Th

US July budget deficit up 20% Y-o-Y despite record Trump tariff income

The US budget deficit in July climbed 20 per cent this fiscal year compared to the last despite the US taking in record income from President Donald Trump's tariffs, according to Treasury Department data released Tuesday. The US saw a 273 per cent increase - or USD21 billion - in customs revenue in July over the same period last year, the data showed. A Treasury official who spoke on the condition of anonymity to preview the data said overall increased spending is in part due to a mix of expenditures, including growing interest payments on the public debt and cost-of-living increases to Social Security payouts, among other costs. This comes as the federal government's gross national debt creeps up to the USD37 trillion mark. Even as Trump talks about America becoming rich because of his import tax hikes, federal spending keeps outpacing the revenues collected by the government. That financial picture might change as companies exhaust their pre-tariff inventories, forcing them to ...

Will explore more, no compromise on farmers' interests: Shivraj on tariffs

US imposed 25 per cent reciprocal tariffs on Indian goods last month and increased it to 50 per cent over import of Russian oil

India has been recalcitrant in trade talks: US Treasury Secy Bessent

Bessent said he hoped the Trump administration could wrap up its trade negotiations by the end of October

Tariff turbulence: Tanned hides, tug toys, trade sacks on Trump tightrope

The second in a series focuses on Kanpur's leather hub, pet goods makers, and FIBC exporters walking a fine line under the weight of 50% US duties

Trump rebukes Goldman Sachs' economics research on tariff impact

Trump did not specify which Goldman report he was referring to, but Goldman has taken a bearish position on Trump's tariffs. The Wall Street investment bank declined to comment on the matter

Trump extends tariff truce with China for 90 days before deadline ends

Trump paused China tariffs for 90 days, hours before the deadline was set to expire. If the deadline had expired, the US could have increased taxes on Chinese imports back to where they stood in April

Crude lessons: Reversing slide in domestic output now a strategic necessity

India can, if necessary, switch to many alternate suppliers without much additional cost

M&M expands capacity at South African plant as US tariffs hit auto sector

Sluggish growth in the continent's most-industrialized nation has led South Africans to demand more economical cars

Stock market close highlights: Sensex down 368pts, Nifty at 24,487; Financial, FMCG top drags

Stock Market Close Highlights, August 12, 2025: The BSE Sensex settled 368.49 points or 0.46 per cent lower at 80,235.59 levels, while Nifty50 ended 97.65 points or 0.4 per cent lower at 24,487.40.

US tariff hikes slash diamond jobs in Gujarat, hit Rajasthan gems trade

Nearly 100,000 workers in Saurashtra lose jobs; Rajasthan's gems and jewellery sector also braces for slowdown as Donald Trump's 50% tariffs hit Indian industries

Indian Rupee trades slightly weaker ahead of CPI; opens at 87.68/$

Indian Rupee today: The domestic currency opened 2 paise weaker at 87.68 against the dollar on Tuesday

South Korean President Lee to meet Trump in Washington on August 25

South Korea's new President Lee Jae Myung will travel to Washington later this month to meet with US President Donald Trump, Lee's office said Tuesday, for talks on trade and defence cooperation in the face of nuclear-armed North Korea and other threats. Their August 25 summit will follow a July trade deal in which Washington agreed to cut its reciprocal tariff on South Korea to 15 per cent from the initially proposed 25 per cent and to apply the same reduced rate to South Korean cars, the country's top export to the United States. South Korea also agreed to purchase USD 100 billion in US energy and invest USD 350 billion in the country, and the leaders could use their meeting to discuss expanding cooperation in key industries such as semiconductors, batteries and shipbuilding, Lee's spokesperson Kang Yu-jung said. The meeting also comes amid concerns in Seoul that the Trump administration could shake up the decades-old alliance by demanding higher payments for the US troop presence

Confident of 6th round of India-US trade talks: Officials to House panel

Officials told a parliamentary panel that India-US ties go beyond trade, denied halting defence purchases, and expressed confidence the sixth BTA talks will proceed

Trump tariffs to impact 55% of total merchandise exports to US: MoS Finance

"A combination of different factors, such as product differentiation, demand, quality, and contractual arrangements, would determine the impact on India's exports," he said

Zelenskyy urges India to limit Russia energy exports; PM Modi responds

PM Modi also posted about his conversation with Zelenskyy, stating that he conveyed India's consistent position on the need for an early and peaceful resolution of the conflict

Indian Rupee gives up early gains to close flat; ends at 87.66/$

Indian Rupee today: The domestic currency closed flat at 87.66 against the dollar on Monday after opening 16 paise higher

Stock market close highlights: Sensex up 746pts, Nifty at 24,585; PSU Bk, Auto, Realty stocks shine

Stock market close highlights on Monday, August 11, 2025: On the BSE, Tata Motors, Eternal and Trent were the top gainers while ICICI Bank, BEL and Bharti Airtel were among the major laggards.

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