Page 40 - Latest Updates on Trump tariffs

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

PM Modi defiant as Trump steps up pressure on India's Russian oil purchases

Modi's government hasn't given India's oil refiners instructions to stop buying Russian oil, and no decision has been taken on whether to halt the purchases

Best of BS Opinion: India must not shy away from trade negotiations

Our Opinion page today makes a case for more trade talks, note less; benefits for Isro from partnering with Nasa; a sustainable fix for urban congestion; and the need for a framework for digital fraud

US policymakers may start relying on Trump tariffs for federal revenue

Trump has routinely cited the tariff revenue as evidence that his trade approach, which has sowed uncertainty and begun to increase prices for consumers, is a win for the United States

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

India to keep buying Russian oil despite Trump's penalty threat: Report

Despite Donald Trump's warning of a penalty, Indian officials say the government had "not given any direction to oil companies" to cut back imports from Russia

India launches formal rules to fix, streamline drug and device clearances

India has issued first official guidelines for expert panels to bring consistency, speed, and transparency to drug and device approvals amid a broader regulatory overhaul

India reacts with outrage to Trump's tariff hike, 'dead' economy remarks

India is hardly alone in facing Trump's trade wrath - and not the subject to the very highest rates - but the news left business and political leaders wondering how to cope with the fallout

'A good step': Trump welcomes reports of India halting Russian oil imports

Amid tariff threats and narrowing price gaps, India's oil firms have paused Russian crude orders; MEA says no official directive

Navigating US tariffs: Strategic responses for building resilience

While the higher tariffs for US markets are a big economic challenge, they also create opportunities for innovative solutions that may take India on a higher growth trajectory

US employers slash hiring as Trump advances a punishing trade agenda

US hiring is slowing sharply as President Donald Trump's erratic and radical trade policies paralyse businesses and raise doubts about the outlook for the world's largest economy. US employers added just 73,000 jobs last month, the Labor Department reported Friday, well short of the 115,000 expected. Worse, revisions shaved a stunning 258,000 jobs off May and June payrolls. And the unemployment rate ticked higher to 4.2% as Americans dropped out of the labour force and the ranks of the unemployed rose by 221,000. A notable deterioration in US labour market conditions appears to be underway,' said Scott Anderson, chief US economist at BMO Capital Markets. We have been forecasting this since the tariff and trade war erupted this spring, and more restrictive immigration restrictions were put in place. Overall, this report highlights the risk of a harder landing for the labour market.' Economists have been warning that the rift with every US trading partner will begin to appear this ..

Donald Trump's 25% tariff hit triggers layoff warning from exporters

No Russia penalty yet; key meetings between Goyal and exporters on Saturday, Sunday

Trump tariff impact: Logistics players to realign supply chain network

There can be a realignment to Europe, Southeast Asia, and the Gulf Cooperation Council, as trade routes adjust

Benchmarks tumble as Trump tariffs stoke global trade war concerns

Sensex and Nifty close lower for the fifth consecutive week, marking the longest losing streak in two years, as US tariff announcements dampen investor sentiment globally

India must stand up to Trump's bullying ways, no matter the price

India must make its economy more outward-oriented but for its own Reasons - not to cater to Trumpian demands

Wall St selloff sparked by Trump tariffs, Amazon results, weak payrolls

Hours ahead of the tariff deadline, President Donald Trump signed an executive order imposing duties on US imports from countries including Canada, Brazil, India and Taiwan

Prajwal Revanna convicted, Vice-Presidential election, Anil Ambani, Trump tariffs & more top

A Special Court in Bengaluru convicted former MP and suspended Janata Dal (Secular) leader Prajwal Revanna in one of four rape and sexual abuse cases filed against him. The quantum of punishment

Strategic bond with US, time-tested Russia ties: MEA amid tariff tensions

Speaking at the Ministry of External Affairs' weekly briefing, spokesperson Randhir Jaiswal addressed growing concerns over the impact of Trump's comments on bilateral ties

Rupee posts marginal gains amid tariff jitters; ends at 87.54/$

Indian Rupee today: The domestic currency closed 6 paise higher at 87.54 against the dollar on Friday, according to Bloomberg