Page 10 - Us Tariff Hikes

'Everything is going to work out well': Trump on tariff reversal decision

After his reversal on social media, Trump's team was put in the unenviable position of trying to spin the media that this was the plan all along, a brilliant strategy

Goldman Sachs cuts China GDP growth forecasts citing tariff impact

However, the report added that "even these significant easing measures are unlikely to fully offset the negative effects of the tariffs

China slashes US film imports over tariffs, says open to fair dialogue

As US President Donald Trump hiked tariffs against China to 125 per cent while pausing levies on most countries, Beijing in retaliation has reduced the import of US films and called on Washington to return to fair dialogue without threats. Meanwhile, a rare survey of Chinese public opinion highlighted growing concerns of the Chinese public over the impact of the trade war on their country. The state-run China Film Administration said, The US government's erroneous practice of imposing excessive tariffs on China is likely to further diminish the Chinese audience's favourable perception of American films. We will adhere to market principles, respect audience choices and moderately reduce the import volume of American films, it said. Separately, China's Commerce Ministry spokesperson He Yongqian told a press briefing on Thursday that while Beijing remains open to talks, any dialogue must be based on mutual respect and conducted on equal footing. If the US is bent on waging a trade wa

Whispers of change in China as some companies tell staff to work less

In another sign of how the zeitgeist for China Inc is slowly changing, a Beijing law firm was fined in March for not taking corrective measures after it illegally extended staff working hours

World leaders desperate for trade deals amid tariff chaos, claims Trump

President Donald Trump claimed world leaders were "dying to make a deal" with the US and would do anything to secure a pact on tariffs. I am telling you, these countries are calling us up, kissing my ass," Trump said during a speech at the National Republican Congressional Committee dinner on Tuesday. The president, who imposed a wide range of tariffs on various countries and triggered a global trade war, said: They are dying to make a deal. 'Please, please sir, make a deal. I'll do anything sir'. Many new tariffs, announced by Trump on April 2, took effect on Wednesday morning. Trump's tariffs include massive 104 per cent duties on Chinese goods while dozens of other nations, including the European Union, will face tariffs ranging from 11 per cent to 50 per cent. Trump also announced plans for additional tariffs on pharmaceutical imports. We're going to tariff our pharmaceuticals and once we do that they're going to come rushing back into our country because we're the big market

Walmart backs annual forecasts, vows to keep prices low amid tariff woes

The company's shares, which have fallen nearly 9 per cent since the announcement of a raft of tariffs on April 2, rose about 5 per cent in early trading

Sebi chief assures of no systemic risk despite tariff-induced selloff

Pandey - who took charge of Sebi last month - touted the country's settlement system as unique where trade clearing houses of both the National Stock Exchange of India Ltd. and BSE Ltd

China, EU hit back with their own tariffs as Trump's trade war intensifies

China announced a tariff hike on US imports to 84 per cent from 34 per cent, shortly after Trump's punitive 104 per cent tariffs on Chinese imports kicked in on Wednesday

Fed's Musalem sees growth slipping below trend, higher inflation risk

Higher prices from tariffs could lead to a one-time price shock that the Fed could largely look through in setting policy, though Musalem said he regarded that approach as risky

Treasuries, US dollar see fall as Trump's trade war sparks recession fears

US stocks were in positive territory early, with investors weighing whether recent sharp selling may have been overdone, although trading remained choppy as it has been all week

JPMorgan CEO Dimon warns of recession & defaults, urges quick trade talks

JPMorgan's economists raised the risk of a US and global recession this year to 60 per cent from 40 per cent after Trump unveiled the trade barriers

EU slaps new tariffs on $23 bn in US goods over Trump's metal duties

European Union member states have voted to approve retaliatory tariffs on USD 23 billion in goods in response to US President Donald Trump's 25 per cent tariffs on imported steel and aluminum. The tariffs will go into effect in stages, with some on April 15 and others on May 15 and Dec. 1. The EU executive commission didn't immediately provide a list of the goods Wednesday. Members of the 27-country bloc repeated their preference for a negotiated deal to settle trade issues: The EU considers US tariffs unjustified and damaging, causing economic harm to both sides, as well as the global economy. The EU has stated its clear preference to find negotiated outcomes with the US, which would be balanced and mutually beneficial. The head of the EU's executive commission, Ursula von der Leyen, has offered a zero-for-zero tariffs deal on industrial goods including cars. But Trump has said that's not enough to satisfy US concerns.

Bessent says Treasury to play bigger role so lenders can finance growth

Bessent said Treasury's stronger involvement in crafting bank regulation would be achieved through the Financial Stability Oversight Council

Wall Street opens mixed after China retaliates with new tariffs on US goods

The Dow Jones Industrial Average fell 257.7 points, or 0.68 per cent, at the open to 37,387.91. The S&P 500 fell 17.5 points, or 0.35 per cent, at the open to 4,965.28

Rahul vows to 'break the wall of 50% reservation'; slams PM over US tariffs

Congress leader Rahul Gandhi on Wednesday said the Waqf (Amendment) Act is anti-Constitution and an attack on the freedom of religion, as he warned that the BJP-RSS will soon go after the rights of other minorities such as Christians and Sikhs. Addressing the AICC session on the banks of the Sabarmati river, Gandhi also said that an economic storm is approaching and accused Prime Minister Narendra Modi of succumbing to pressure from US President Donald Trump on the imposition of tariffs. Did you see the photograph of PM Modi hugging Trump? This time he ordered Modi ji that we will not hug but will impose new tariffs'. PM Modi did not say a word. To divert attention from this they ran a drama in Parliament for two days, he said, adding, Where is the PM hiding? Referring to PM Modi's recent meeting with Bangladesh's Chief Advisor Mohammad Yunus, Gandhi said the Bangladeshi leader "gives adverse remarks and he is sitting with him". Where is the 56-inch chest, Gandhi asked in a swipe a

China vows strong response after US imposes additional 50% tariff

China on Wednesday promised to take resolute and forceful measures to safeguard its rights and interests, after net total tariffs of 104 per cent by President Donald Trump on Chinese imports into the US took effect. After Trump's additional 50 per cent tariffs on the world's second-largest economy, China has not announced any new tariffs on the US. President Trump's next round of punishing tariffs on some of America's largest trading partners went into effect on Wednesday, including stiff new levies that will increase import taxes on Chinese goods by at least 104 percent. Trump's explosive new tariffs on 60 countries came into effect just after midnight Wednesday US time. The additional tariffs on China kicked in after Beijing refused to meet Trump's deadline to withdraw its own retaliatory levies on the US. Asked why China has not slapped retaliatory tariffs after Tuesday's assertions to fight till the end and whether the two countries are holding talks to resolve the issue, Chin

Trump's reciprocal tariffs take effect hiking trade levies to 100-year high

Trump is imposing tariffs on China as high as 104 per cent along with import taxes on roughly 60 trading partners that run trade surpluses with the US

US considers adjusting port fee plan for Chinese vessels after pushback

The White House and the Office of the US Trade Representative (USTR), the government department involved in the drafting the proposal, did not respond to requests for comment

US slaps 104% tariff on China after Beijing misses Trump's deadline

This comes after China did not meet the deadline set by President Donald Trump to lift its retaliatory tariffs on American goods

Global bond markets shift as US treasuries face competition from Europe

One early test comes Tuesday, when the US government is set to sell $58 billion of three-year securities, followed by 10- and 30-year maturities later this week