Page 63 - Latest Updates on Trump tariffs

Generic industry unlikely to be affected by Trump's EO: Indian drug cos

IPA and Ind-Ra say Trump's MFN-based drug pricing move will impact innovators more than Indian generics, with CDMO firms likely to gain from offshore cost advantages

US govt order to have nil impact on Indian pharma players, says Cipla

The US government's order to pharma firms to lower the cost of prescription medicines within 30 days will not impact Indian generic drugmakers, Cipla MD and Global CEO Umang Vohra said on Tuesday. He noted that the Executive Order signed by US President Donald Trump on Monday is probably going to impact branded drugs. "What we understand is that this is largely targeted towards branded drugs...As of now, what we understand is that this is a voluntary measure that perhaps the companies will be taking," Vohra stated. He noted that there are aspects of MFN clauses etc and it is not clear as of now how and in which manner the Executive Order will be implemented. "So as of now, from a generic perspective, I think generic (drug) prices in the US are already significantly comparable with the rest of the world, in some cases it is lower. So we don't believe that at least for now, based on what the promulgation says we think this is more (towards) branded sector...rather anything on the ...

Piyush Goyal to visit US for trade talks from May 16: What's on the agenda?

The four-day discussions, scheduled from May 17 to 20, will involve key meetings with US Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick

Trump tariffs prompt Chinese firms to cut back US investment plans

A recent survey of Chinese firms operating in the US indicates that they plan to scale back their investments in the country, citing the impact of tariff policies of the Trump administration

Indian Rupee pares early gains; ends 4 paise higher at 85.34/$

The domestic currency ended 4 paise higher at 85.34 after ending at 85.38 against the greenback on Friday, according to Bloomberg data

Nissan cuts 15% of global work force as Japan automaker sinks into losses

Nissan is slashing about 15 per cent of its global work force, or about 20,000 employees, as the Japanese automaker reported a loss for the fiscal year that just ended amid slipping vehicle sales in China and other nations. Nissan Motor Corp said it will reduce the number of its auto plants to 10 from 17, under what it called its recovery plan to carry out decisive and bold actions to enhance performance and create a leaner, more resilient business that adapts quickly to market changes. The Yokohama-based automaker said US President Donald Trump's tariffs on auto imports also hurt its results. Nissan is aiming to reduce its costs by 250 billion Yen (USD 1.7 billion) during the next fiscal year compared to the fiscal 2024 results that just ended in March. Nissan racked up a loss of 670.9 billion Yen (USD 4.5 billion) for the fiscal year through March, down from a 426.6 billion Yen profit recorded the previous fiscal year. Restructuring costs also hit its bottom line. Chief Financia

India's retaliatory tariff plan may strain trade pact talks with US: GTRI

India's proposal to impose retaliatory import duty on certain US products in response to American tariffs on steel and aluminium could cast a shadow over ongoing negotiations for a trade agreement between the two countries, think tank GTRI said on Tuesday. The Global Trade Research Initiative (GTRI) said that if the US engages in consultations with India on the matter or withdraws tariffs, a resolution may be reached. Otherwise, India's retaliatory import duties could take effect in early June, potentially impacting US exporters and deepening trade frictions, it added. In a significant move targeting US safeguard duties on steel, aluminium, and their derivative products, India has formally notified the World Trade Organisation (WTO) of its intention to suspend trade concessions granted to the US. The proposed suspension of concessions could take the form of increased tariffs on selected US products. While India has not disclosed those items yet, in a similar move in 2019, it had ..

Honda forecasts 24.5% profit drop as China sales dip, Trump tariffs loom

Honda's profit for the fiscal year through March slipped 24.5 per cent from the previous year, as its vehicle sales in China dropped, and the Japanese automaker warned Tuesday that President Donald Trump's tariffs will worsen its earnings. Tokyo-based Honda Motor Co, which dropped talks to integrate its business with Japanese rival Nissan Motor Corp earlier this year, said its annual profit totaled 835.8 billion Yen (USD 5.6 billion), down from 1.1 trillion Yen in the previous fiscal year. Annual sales edged up 6.2 per cent to nearly 21.69 trillion Yen (USD 147 billion). Research and development costs hurt, despite Honda's record global motorcycle sales for the fiscal year, which topped 21 million motorcycles. Hybrid vehicle sales also did well, especially in the US, and Honda's profitability per vehicle was also improving, according to the maker of the Accord sedan and CR-V sports-utility vehicle. Executive Vice President Noriya Kaihara acknowledged that Trump's tariffs were like

US tariff pause on Beijing puts pressure on 'China-plus-one' countries

Vietnam, for example, was better off than China with a 46 per cent rate, while Thailand was at 36 per cent and Malaysia at 24 per cent

'No winners in tariff wars': Xi Jinping urges unity to secure global peace

Xi Jinping calls for global unity and criticises tariff wars at the China-Celac Forum as he unveils major cooperation plans with Latin America and the Caribbean amid US tensions

China lifts ban on Boeing deliveries after 90-day tariff pause with US

The decision comes a day after the two countries announced a 90-day pause on tariffs and agreed to slash them by 115 percentage points

Hollywood asks for tax incentives from Trump after 100% tariffs on films

A group of Hollywood creatives and studios wrote to the US President urging the government to implement tax code changes aimed at reducing costs for film and television production

Trump tariffs may have pushed up inflation in April, US govt report to show

Inflation may have picked up slightly last month as President Donald Trump's widespread tariffs kicked in, a trend economists expect will become more visible in the coming months. Consumer prices are forecast to have risen 2.4% in April compared with a year earlier, according to data provider FactSet, the same as in March and down from 3% at the start of the year. Still, on a monthly basis, economists expect that the consumer price index rose 0.3% from March to April, a pace that would worsen inflation if it continued, after it fell for the first time in nearly five years the previous month. Tuesday's report could provide an early read on how Trump's duties will affect the prices Americans pay for necessities and other goods such as clothing, shoes, furniture and even groceries. Duties on many goods from Mexico and Canada took effect in February and could have impacted prices last month. Still, economists forecast the impact from duties to be modest. Firms have indicated ... that th

Trump hails 'total reset' in US-China ties after 90-day tariff pause

The US will reduce tariffs on Chinese goods to 30 per cent from the current 145 per cent, while China will lower tariffs on US-made goods to 10 per cent from 125 per cent

India proposes retaliatory duties against US over steel tariffs in WTO

India on Monday proposed to impose retaliatory duties under the WTO (World Trade Organisation) norms against the US over American tariffs on steel and aluminium in the name of safeguard measures. "The safeguard measures would affect USD 7.6 billion imports into the US of the relevant products originating in India, on which the duty collection would be USD 1.91 billion," a WTO communication said. Accordingly, it said, India's proposed suspension of concessions would result in an equivalent amount of duty collected from products originating in America. Earlier in April, India had sought consultations with the US under the WTO's safeguard agreement, following American authorities' decision to impose these tariffs. On the request for consultation, the US informed the global trade body that its decision to impose the tariffs was based on national security grounds and should not be considered as safeguard measures. On March 8, 2018, the US promulgated safeguard measures on certain steel

US, China declare 90-day tariff pause, agree to mutual reductions

During this 90-day window, the US will lower its tariffs on Chinese goods from 145 per cent to 30 per cent. In a similar move, China will bring down tariffs on American imports from 125% to 10%

Multiple possibilities: US-China agreement marks a new beginning

Both countries had reasons to come to an agreement. Chinese factories have seen a clear reduction in demand for their goods, driven by the closure of the markets in the United States

US-China talks advance, but questions remain over rare earths, de minimis

The US will lower extra tariffs on Chinese goods from 145% to 30%, while China will cut tariffs on US products from 125% to 10%. However, uncertainty remains over rare earth exports.

Sensex, Nifty log best day in 4 yrs on India-Pak truce, US-China trade deal

Nifty50 climbed 936.80 points to touch a high of 24,944.80-just 56 points shy of the psychological 25,000 mark during intraday deals on Monday

Japan PM Ishiba open to more stimulus but rules out sales tax cut

Speaking in parliament, Ishiba said the government "won't hesitate to take additional measures" to ease the pain on the economy from higher US tariffs