Page 11 - Us Tariff Hikes

What made Trump put tariffs on Penguins' island? His commerce secy answers

US Commerce Secretary asserts that leaving out a country will leave "loopholes" for other nations to manipulate it

Taiwan has no plans to retaliate against US tariffs, says President Lai

Lai acknowledged the significant impact the tariff could have on Taiwan's economy but reassured the public, emphasising the country's strong economic fundamentals

Protesters rally across US against policy agenda of Trump and Musk

The White House, in a statement about the protests, said President Trump's position is clear: He will always protect Social Security, Medicare, and Medicaid for eligible beneficiaries

Over 50 nations seek trade talks with US after tariff action: Officials

Treasury Secretary Scott Bessent said more than 50 nations had started negotiations with the US since last Wednesday's announcement, putting Trump in a position of power

West Asian stocks plunge as US tariff hikes, oil slump spark turmoil

Saudi Aramco - the world's biggest oil exporter - was one of the biggest losers in the region. The company at one point erased more than $90 billion from its market capitalization

Donald Trump's reciprocal tariffs: Running blind on a global tightrope

The biggest issue is the assumption that while Mr Trump upends the existing order at his own will, "all other things will remain equal"

Piyush Goyal to meet exporters on Apr 9 to discuss Trump's tariff on India

Union Commerce and Industry Minister Piyush Goyal is likely to hold a meeting with exporters on Wednesday, April 9, to take stock of issues to be faced by Indian traders due to the imposition of an additional 26 per cent reciprocal tariffs by the Trump administration, an industry official said on Sunday. Senior officials of the commerce ministry and representatives of export promotion councils (EPCs) and the Federation of Indian Export Organisations (FIEO) will attend the deliberations, according to the industry official. Meanwhile, an exporter said that the government should come forward to extend fiscal incentives to all exporters, particularly MSMEs, in this situation, as the US tariffs will have an impact on the country's shipments. The effect of these duties is expected to be reflected starting May as demand will take a hit in the US. "Sweeping increases in duties on all the countries in the world will have an inflationary impact on the US customers. It would hit demand for al

Indian metal firms eye domestic growth, remain resilient to US tariffs

Indian metal companies are gearing up for significant expansions in the current fiscal, focusing on growing domestic demand, notwithstanding global trade headwinds. While the United States has announced certain tariffs on metals, companies like Vedanta, JSW Steel, Hindustan Zinc, and NALCO are also betting on India's strong demand, the global race for critical minerals, and strategic geographic diversification to drive growth, analysts said. Domestic steel demand is forecast to grow by 10 per cent annually over the next few years. Similarly, aluminium demand is expected to grow at a CAGR of 7.2 per cent till 2030. Industry experts predict India's aluminium demand will double every five years, supported by the Indian government's allocation of Rs 11.21 lakh crore for infrastructure development in the 2025-26 budget. As other countries face higher tariffs, companies may look to diversify production into India, creating a positive spillover effect on domestic demand. Companies like ..

Pilot slams govt over US tariffs, says India bending to foreign pressure

In a scathing attack on the government over the imposition of tariffs by the US, Congress general secretary Sachin Pilot on Sunday said Prime Minister Narendra Modi should have worked out a constructive solution during his last America visit rather than just indulging in "photo ops" and exchanging gifts. He said that at a time when the world is responding to the imposition of reciprocal tariffs by the US, the Indian government is merely buying time and leaving everything to fate. In an interview with PTI, the former minister for Corporate Affairs said the Indian government is accepting what has been given out and has not even offered a response. "I would imagine, when the PM was in Washington (in February) and met the president of the US, instead of just photo ops and exchanging gifts, something more constructive should have come out of it," Pilot said. "If our relations are as strong as the two leaders claim, then we would not have been slapped with these steep tariffs. Clearly, o

Netanyahu to urge Trump for tariff relief during meeting in Washington

Netanyahu, who has spent the last few days visiting Hungary, departs for Washington on Sunday for an impromptu visit with Trump that is expected to take place on Monday

India unlikely to impose counter-tariffs as US trade talks progress: Report

In the days after Trump's tariff announcement that has shaken global markets to their core, India joined nations like Taiwan and Indonesia in ruling out counter tariffs

India doing better than other countries after US tariffs: NSE CEO

Asserting that a situation of confusion persists in the world after the recent imposition of reciprocal tariffs by the US, NSE Managing Director and Chief Executive Officer Ashish Kumar Chauhan on Sunday said India is doing much better than other countries. He said a clear situation is expected to emerge within the next one or two weeks as there will be negotiations and the duty structure will be stabilized. Talking with PTI here after paying obeisance at the revered Mata Vaishno Devi Shrine atop Trikuta hills on the occasion of Ram Navami, the National Stock Exchange (NSE) chief said it seems that the Indian share market is doing much better than other countries post the US decision on reciprocal tariff. "You must have seen the market for the last 2-3 days. America has made a decision on tax, which is applicable to every country in the world. They have also imposed new import duties for India, which is doing better than other countries, he said. Chauhan, who met Lt Governor Manoj

Kaushik Basu calls Trump's reciprocal tariffs 'baffling', warns of risks

Former World Bank Chief Economist Kaushik Basu on Sunday described the reciprocal tariffs imposed on approximately 60 countries by the Trump administration as baffling, saying that while these tariffs will have some adverse effects on India, the major impact will be felt in the US. Basu further said that it is also not really a reciprocal tariff as the Trump administration calls it, it is based on the trade deficit the US has with India. "The new US tariff of 26 per cent on India is baffling. While it will have some adverse impact on India, its major negative impact will be on the US," he told PTI. Basu, currently a Carl Marks Professor at Cornell University, said it is natural for a country like the US, which has a currency that is trusted and used worldwide, to have trade deficits. "Hence, this new tariff policy looks almost like an effort to erode trust in the US dollar," he added. Basu also suggested that India should not respond by raising or lowering tariffs on US ...

Pak sees US tariffs as window of opportunity for negotiations with the US

Prime Minister Shehbaz Sharif set up two committees to tackle the economic implication of the new tariffs imposed by US President Donald Trump, Finance Minister Muhammad Aurangzeb said on Saturday. The two bodies include a steering committee chaired by the finance minister and comprising ministers, prominent business leaders, secretaries, and academics, while the second was a working group led by the secretary of commerce. You should never let a good crisis go to waste, Aurangzeb told a press conference here and explained that while the situation created immediate challenges, it also would open doors for negotiation and long-term engagement. He said that the government's intention was to formulate and present a well-structured package to the US administration and the recommendations are expected to be finalised in the coming days and submitted to the prime minister for approval. He said that following that approval, a high-level delegation will travel to Washington to convey ...

Risk of a waterfall decline in the US stock market is rising: Chris Wood

Tariff hikes are plain news as the historic precedent of the Smoot-Hawley Tariff Act of 1930 highlights. This is an impoverishment day, not a liberation day, Wood said in his weekly note GREED & fear.

Canada loses jobs in March for first time since 2022 on tariff uncertainty

Most economists had expected the job market to start showing signs of weakening as companies held back on investments and hiring due to the uncertain tariff situation

Canada loses jobs in March for first time since 2022 on tariff uncertainty

Most economists had expected the job market to start showing signs of weakening as companies held back on investments and hiring due to the uncertain tariff situation

Larger tariffs may fuel inflation, dampen growth: Fed's Jerome Powell

Powell said it was not the Fed's role to comment on the Trump administration's policies but rather to react to how they might affect an economy that he and his colleagues made comment about

Indian exporters adopt wait-and-watch approach to 27% US tariff on rice

Indian rice exporters are adopting a wait-and-watch approach following United States' decision to impose 27 per cent tariff on imports, though industry leaders say the long-term impact may be limited due to India's inherent competitiveness. "While there may be short-term price fluctuations, the market is expected to stabilise within the next two to three months. The 27 per cent tariff is a temporary hurdle, not a roadblock. With strategic planning and flexibility, we cannot only protect, but also expand our footprint in the US market," Prem Garg, national president of the Indian Rice Exporters Federation (IREF), told PTI. He added that the tariff, though significant, should not cause panic among exporters. The US is not India's largest market for basmati rice, Garg said. "In FY24, India exported 2.34 lakh tonnes of basmati rice to the US out of 52.4 lakh tonnes. During April-November 2024, the US accounted for 2.04 lakh tonnes of India's 42 lakh tonnes of total basmati exports. We

S&P to review all global forecasts in wake of Trump's tariff shock

The impact on US GDP will depend on the level of retaliation from its trading partners and how the tariff revenues get used, especially if they fund tax cuts, S&P said