Page 12 - Us Tariff Hikes

Oil prices see drop 8% amid China retaliating with tariffs on US goods

Brent futures dived by $5.30, or 7.6 per cent, to $64.84 a barrel by 1254 GMT. US West Texas Intermediate crude futures lost $5.47, or 8.2 per cent, to $61.48

Trump tariff impact: Brace for exchange rate wars too, says Madan Sabnavis

At the global level, slower trade will also mean slower growth, especially for export-oriented economies, Sabnavis said. Back home, he feels that the MSMEs will be under pressure again

WTO warns of major global trade impact from US tariffs announcement

WTO on Thursday said the measures announced by the United States will have substantial implications for world trade and economic growth prospects, and could lead to an overall contraction of around 1 per cent in global merchandise trade volumes this year. The statement by Director-General of the the World Trade Organization (WTO) Ngozi Okonjo-Iweala follows US decision to impose tariffs on nearly 60 countries. In a statement, Director-General of the the World Trade Organisation (WTO) Ngozi Okonjo-Iweala said the WTO Secretariat is closely monitoring and analysing measures announced by the United States on April 2. "Many members have reached out to us and we are actively engaging with them in response to their questions about the potential impact on their economies and the global trading system," she said, adding that the recent announcements will have substantial implications for global trade and economic growth prospects. "While the situation is rapidly evolving, our initial ...

Trump tariffs risk delaying big tech's AI data centre projects, spending

Trump and technology executives have touted lofty plans by Oracle, SoftBank and others to invest heavily in artificial intelligence since his return to the White House earlier this year

India, US seek to expedite bilateral trade agreement talks to boost trade

Both India and the US want to expedite the negotiations for the proposed bilateral trade agreement (BTA) as the two countries are looking at promoting two-way commerce, an official statement said on Thursday. Both the countries have decided to hold sector-specific talks from this month to finalise the structure of the agreement. The keenness to expedite the talks came in the backdrop of the USA's decision to impose additional 27 per cent import duty on Indian goods from April 9 this year. "Discussions are ongoing between Indian and US trade teams for the expeditious conclusion of a mutually beneficial, multi-sectoral BTA...We remain in touch with the Trump administration on these issues and expect to take them forward in the coming days," the commerce ministry said. Through the agreement, the two countries are looking to increase market access for their goods, cut tariff and non-tariff barriers and deepen supply chain integration. A team of US officials, headed by Assistant US Tra

US trade deficit narrows 6.1% in Feb, levels of import remains high

Imports of services increased $0.5 billion to a record high $72.2 billion. There were increases in travel services and charges for the use of intellectual property

Rising costs to meet safety norms, demand push carmakers to hike prices

Rising input costs to meet mandatory safety requirements as well as growing consumer preference for features such as six airbags in all variants are making carmakers increase prices despite sluggish demand, according to industry players. Marker leader Maruti Suzuki India on Wednesday announced that it will increase prices of various models by Rs 2,500-62,000, from April 8, the second hike this year after increasing by up to Rs 32,500 across various models from February 1. Similarly, BMW Group India has already increased by 3 per cent on select models from this month. Hyundai, Tata Motors, Kia India and Honda Cars have also announced plans to hike vehicle prices starting in April. "The price increase is purely on account of input costs of regulatory changes and that too a partial passing on of such costs," a spokesperson of Maruti Suzuki India said when asked why the company is hiking prices at a time when the overall passenger vehicle market is sluggish. BMW Group India President

Auto tariff to cost US consumers more than $30 bn in first year: Report

Consultancy firm Anderson Economic Group said in a report on Thursday that 25 per cent tariff on auto imports may cost American consumers more than $30 billion in higher vehicle prices and reduced car

Rahul slams govt over 'China occupying land', US tariffs; BJP hits back

Leader of Opposition Rahul Gandhi on Thursday claimed that China had taken over 4,000 square kilometre of Indian territory and that reciprocal tariffs or import duties imposed by the US would "completely devastate" the Indian economy, as he demanded answers from the government over these issues. The BJP hit back at Gandhi over his remarks during the Zero Hour in the Lok Sabha, saying "not an inch of land" had been given to China under BJP rule and it was under Congress rule that China had occupied Indian territory. The ruling party also said it is the country's good fortune that the PM of this country is Narendra Modi before whom the world bows. Speaking during the Zero Hour, Gandhi slammed the government over the celebration of the 75th anniversary of diplomatic ties by India and China. "China is sitting on 4,000 square kilometre of our territory. I was shocked some time back to see that our foreign secretary (Vikram Misri) was cutting a cake with the Chinese ambassador. The quest

Market Today: GIFT Nifty, Trump's 27% India tariff, F&O Expiry, Nikkei, IPO

In the previous session, Sensex gained 592.93 points (0.78 per cent) to close at 76,617.44, while Nifty50 rose 166.65 points (0.72 per cent) to settle at 23,332.35

Trade war or fair play? How Indian exporters are reacting to Trump tariffs

The Federation of Indian Export Organisations (FIEO), the apex body representing Indian exporters, acknowledged that the new tariffs would impact Indian businesses

Trump posts 'Liberation Day' hours before US rolls out reciprocal tariffs

The new duties are due to take effect immediately after Trump announces them, while a separate 25 per cent global tariff on auto imports will take effect on April 3

Trump's tariff plan remains undecided ahead of announcement at Rose Garden

Amid all the speculation, the White House on Tuesday stayed silent on the details of Trump's plan, ahead of the president's formal announcement

Dollar dips due to market uncertainty as Trump's tariff announcement nears

Details about the size and scope of the trade barriers set to come into force remain unknown, but the Washington Post reported that Trump's aides were considering a plan that would raise duties

Trump's 'Liberation Day' tariffs: Which countries will be hit the hardest?

US President Donald Trump's new tariffs, set to take effect on April 2, will target countries with high duties on US goods, escalating trade tensions and reshaping global commerce

Trump's pharma tariffs threaten global supply chains, patient access

Protectionist policies will raise the prices of active ingredients for these producers, many of whom may have little recourse to return manufacturing to the US in the short term

Trump tariffs threaten $8.2 bn US dairy exports amid global uncertainty

More than half of US dairy exports are shipped to Mexico, Canada and China, which have all been targeted by Trump's tariff policies

US manufacturing contracts again as tariffs, inflation fears rise

Domestic manufacturers rely heavily on imported raw materials and could experience a severe disruption in supply chains, economists warneds

Commerce ministry prepares for potential impact of US tariffs: Report

The commerce ministry is working on different scenarios to counter the possible fallout of reciprocal tariffs to be announced by the Trump administration on April 2 on its key trading partners including India, sources said. US President Donald Trump has said that April 2 will be 'Liberation Day' as he plans to announce tariffs or import duties to bring down America's trade deficit, and promote the country's manufacturing. India and the US are also working on a bilateral trade agreement to promote two-way commerce and investments. The domestic industry and exporters have raised concerns over the possible impact of the US' reciprocal tariffs on India's exports as the duties could make the goods uncompetitive in the global markets. The US is the largest trading partner of India. Sources said that the impact of these tariffs may vary from sector to sector. They added that the ministry is preparing different scenarios. These scenarios would be important to help domestic companies deal

EU prepares 'strong plan' to tackle Trump's global tariff threats

The US intends to impose sweeping tariffs on global partners as soon as Wednesday. Trump has said the measures will rectify tariffs as well as non-tariff barriers that he says are unfair