Page 13 - Us Tariff Hikes

Rising anti-US sentiment in Europe fuels boycott of American goods

Albertus, a Danish school principal, said he canceled all his streaming services in favor of European or Danish ones and no longer eats at American fast-food chains

Brokerages analyse US tariffs impact on economies, sectors and markets

Analysts at Barclays, meanwhile, estimate that nearly $22 billion worth of India's exports (30 per cent of exports to the US and 5 per cent of total goods exports) are most at risk

US consumer spending rises in Feb, likely driven by higher prices

Economists polled by Reuters had forecast consumer spending rising 0.5 per cent after a previously reported 0.2 per cent fall in January

India, US to wrap up early stages of trade pact talks on Saturday: Sources

India and the visiting US officials have decided to hold a wrap-up session on Saturday morning to conclude the three-day talks on the proposed bilateral trade agreement, government sources said. They said the discussions are at a "very" early stage. A team of US officials, headed by Assistant US Trade Representative for South and Central Asia Brendan Lynch, is here for negotiations on the proposed agreement. "Early stage of discussions are going on," one of the sources said, adding that nothing has been finalised so far. Commerce and Industry Minister Piyush Goyal on Thursday said the ongoing talks between India and the US for the proposed pact are progressing "well" and will be for the "good" of both nations while protecting India's interests. The official level deliberations assume significance as US President Donald Trump has announced imposing reciprocal tariffs on April 2 on America's key trading partners, including India. He has on multiple forums stated that India imposes

Gold prices hit record high as trade war fears drive safe-haven demand

The Personal Consumption Expenditures (PCE) price index increased 0.4 per cent in February, compared with analysts expectation of 0.3 per cent rise, similar to January's increase

Evaluating impact of US duties on steel, aluminium: Jitin Prasada in RS

The US has imposed additional import duties on steel and aluminium and the government is evaluating its impact, Parliament was informed on Friday. In a written reply to the Rajya Sabha, Minister of State for Commerce and Industry Jitin Prasada said there has been the imposition of these duties on steel and aluminium imports by the US from all countries without any exemption. "The impact of these duties which are an enhancement over existing such additional duties is being closely evaluated due to the fact that there are no exemptions as compared to exemptions earlier to certain major exporting countries in this sector," he said. As of date, there has been no imposition of country-specific reciprocal tariffs by the US on India, he added. The minister informed that India continues to engage with the US to achieve enhancement and broadening of bilateral trade ties in a mutually beneficial and fair manner. The two countries aim to more than double trade to USD 500 billion by 2030 to b

US tariffs unlikely to impact India, may create opportunities: NITI Aayog

The US plan to impose reciprocal tariffs will not have much impact on India and create several opportunities for the country, Niti Aayog Programme Director Pravakar Sahoo said on Friday. Compared to Mexico, China and Canada, which account for 50 per cent of America's total imports, India is favourably placed, he added. "We are looking at the data at a very dis-segregated level...these are preliminary results, but I can just give you the overview that we are not going to lose. This reciprocal tariff is not going to affect except very specific sectors and in fact, there are opportunities to really capture," he added. Sahoo was speaking after the release of the second edition of Niti Aayog's quarterly trade watch. He said that a detailed analysis of the reciprocal tariff plan's impact on India will be presented in the next edition of the report. The three main competitors in the US market are - Canada, Mexico and China. They account for 50 per cent of the USA's total imports of USD 3

Venezuela increases oil exports to China as US secondary tariff tightens

Venezuela's oil industry is facing its biggest threat since the first Trump administration essentially banned US imports of oil from the country in 2019

US tariff hike will drive up prices for American consumers: H&M CEO

H&M is monitoring and preparing for tariffs, though these are a moving target given the uncertainty over which countries Trump's announcement will target next week, Erver said

Gold climbs as new Trump tariffs on auto sector stoke trade tensions

Gold, traditionally seen as a hedge against uncertainty and inflation, has risen more than 15 per cent this year and hit an all-time peak of $3,057.21 on March 20

Oil holds near one-month high as markets weigh new trade war risks

PVM analyst Tamas Varga said oil had ignored falling equity markets on Wednesday and had firmed on the back of US tariffs against Venezuela and lower US crude and fuel inventories

Auto stocks can defy Trump tariff woes, may rally up to 24%; suggest charts

Technical charts suggest that the Nifty Auto index can potentially rise up to 11 per cent; Tata Motors which is oversold can bounce back up to 24 per cent from present levels. M&M, however, looks weak

Trump likely to use 2019 trade probe to justify 25% auto import tariffs

Trump in February told reporters his administration could impose auto tariffs in the neighborhood of 25%, although he later agreed to exempt autos from Canadian and Mexican tariffs for 30 days

Trump could impose copper import tariffs within weeks, not months

The investigation already is looking like little more than a formality, some of the people said, with Trump having regularly said he plans to impose the tariff

India considers tariff cuts on half of US imports to protect exports

In an internal analysis, New Delhi estimated such reciprocal tariffs would hit 87 per cent of its total exports to the United States worth $66 billion

Examining impact of US tariff on steel, aluminium: Govt tells Lok Sabha

The government is examining the impact of 25 per cent tariff imposed by the US on steel and aluminium imports, Minister of State for Finance Pankaj Chaudhary said in the Lok Sabha on Monday. As per Proclamations issued by the president of the US dated February 10, 2025, the US government has imposed the import duty with effect from March 12, 2025, he said in a written reply. No proclamation has been issued on pharma, automobile and semiconductor sectors so far, he said. "As informed by Department of Commerce, the impact of the above proclamations on India is being carefully examined and evaluated," he said. Replying to another question, Chaudhary said out of 40 recommendations, India received 'Compliant' or 'Largely Compliant' rating in 37 recommendations by global money laundering and terrorist financing watchdog Financial Action Task Force (FATF). It received Partially Compliant rating in 3 recommendations and none was rated as Non-compliant, he said. "Consequently, India was p

US factories face higher metal prices than overseas rivals due to tariffs

Trump's plan to impose tariffs on steel and aluminum imports is unlikely to arrest decades of declining market share and stagnating production

China hits back at Trump tariffs with 15% levies on key US farm goods

China retaliated against President Donald Trump's tariffs with an additional 15% tax on key American farm products, including chicken, pork, soybeans and beef. The escalating trade tensions punished US markets Monday as investors fearful of the damage from from Trump's trade wars put their money elsewhere. The Chinese tariffs, announced last week, were a response to Trump's decision to double the levy on Chinese imports to 20% on March 4. China's Commerce Ministry had earlier said that goods already in transit would be exempt from the retaliatory tariffs until April 12. Imposing tariffs on imports is a key part of Trump's agenda. He believes the import taxes can raise money for the Treasury, protect American industries and pressure foreign countries to do what he wants in a range of issues, including immigration and drug trafficking. On Wednesday, Trump is set to remove exceptions on 25% steel tariffs he imposed in 2018 - effectively raising the taxes - and raise his levy on alumin

Trump to maintain fentanyl-related tariffs on China, Mexico, Canada

However, the commerce secretary did acknowledge that the tariffs would lead to higher prices for US consumers on foreign-made goods

Global trends, macro data to steer stocks amid US tariff risk: Analysts

Global trends, macroeconomic announcements and US tariff developments are expected to drive stock markets in a holiday-shortened week, analysts said. Market participants will also closely track foreign investor activity, geopolitical tensions, and their impact on the US dollar and crude oil prices, they added. "The upcoming trading week will be a holiday-shortened one, with market participants closely monitoring global developments in the absence of major domestic events. Key factors to watch include fresh updates on tariff negotiations, geopolitical tensions, and their impact on the movement of the US dollar and crude oil prices. "Foreign Institutional Investors (FIIs) have slowed their selling in cash markets, but any shift in their stance will remain a crucial indicator for market direction," Ajit Mishra, SVP of Research at Religare Broking Ltd, said. On the macroeconomic front, the release of the Index of Industrial Production (IIP) and Consumer Price Index (CPI) inflation data