)
According to industry experts, the higher tariffs on China and Vietnam will turn out to be most beneficial for Tamil Nadu
The key benchmark indices in India recovered to trade slightly lower after tumbling nearly one per cent during market opening
While border issues remain, Trump's tariff war seen as influencing the neighbours' relationship
Opposition parties seek to know Centre's plans to protect interests of Indian farmers and small-scale industries
Trump ramped up his trade war with tariff rates from 10 per cent to nearly 50 per cent. He says the levies will bring jobs back to the United States
Sugar prices also fell, caught in the melee of tariffs as the US is also one of the world's top sugar importers
The higher reciprocal rates targeting nations Trump administration labels the worst offenders are based on a government tally of the levies and non-tariff barriers those countries impose on US goods
Trump's tariff salvo has also reignited the fears of a global recession, as well as inflation in the US
Congress would need to pass a joint resolution of approval on the new tariff within 60 days. Otherwise all new tariffs on imports would expire
The new tariffs may impact India's medical devices exports, said Rajiv Nath, forum coordinator for the Association of Indian Medical Device Industry (AiMeD)
The comments come weeks after French shipping firm CMA CGM announced plans to invest $20 billion in the US to build shipping logistics and terminals
Trump's 25 per cent auto tariffs will cover more than $460 billion worth of imports of vehicles and auto parts imports annually
Exports will be badly hit in the next couple of months until the cost impact is analysed by US consumers and Indian exporters, said industry players
European companies are scrambling to find solutions as President Donald Trump's 25 per cent duties on foreign cars became effective
Trump's new reciprocal tariffs raise concerns over WTO limits, trade law violations, and the future of global tariff rules
China on Thursday said it would resolutely adopt countermeasures after President Donald Trump imposed 34 per cent tariffs on its over USD 438 billion imports to America, but put off any immediate retaliatory action leaving room for a negotiated deal. Trump announced reciprocal tariffs on Chinese imports on Wednesday as part of sweeping measures aimed at reshaping American trade policy. The Chinese Commerce Ministry hit out hard on Trump's tariffs on its exports to the US, third largest after ASEAN and EU, However, its spokesperson skirted questions about an immediate action by China. To questions about the prospect of future trade talks with the US following the latest tariff measures, the ministry said China and the US had been in communications on their trade concerns, and would resolve their concerns through equal dialogues, the Hong Kong's South China Morning Post reported. Separately, the Chinese Foreign Ministry spokesperson Guo Jiakun said the US has imposed tariffs on China
European Council President Antonio Costa voiced full support for the EU Commission's ongoing trade negotiations with the US and highlighted the role of trade in global prosperity
Tariffs raise prices of everyday goods, which affects not only Americans but also international students and immigrants
The reciprocal tariff announced by the Trump administration can shave off India's GDP growth rate by up to 50 basis points to 6 per cent and the country's exports to the US could fall by 2-3 percentage points in the current fiscal, experts said on Thursday. EY Chief Policy Advisor D K Srivastava said, "the maximum adverse impact on India's GDP growth will not be higher than 50 basis points. As per our earlier projection, the GDP growth estimate for current fiscal was 6.5 per cent, which may go down to 6 per cent without retaliation". Standard Chartered Bank Head - India, Economics Research, Anubhuti Sahay said an effective 20 per cent tariff increase on Indian exports to the US ( after considering the exempted goods) in our view is likely to adversely impact India's GDP by 35-40 bps, ceteris paribus. "However, the final impact would depend on the trade deal agreement between India and the US along with how each country negotiates/ retaliates on the proposed tariffs," Sahay said. Sh
While the Nifty IT index lost 4.21 per cent due to US recession fears, investors found comfort in the pharma sector, which was spared harsh treatment in the sweeping tariffs announced by US President