Page 14 - Us Tariff Hikes

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

US tariffs, if sustained, will impact the economies of Mexico, Canada: IMF

IMF spokesperson Julie Kozack said the IMF would release a more comprehensive assessment at the spring meetings of the IMF and World Bank in Washington in April

Gold prices fall on profit-taking as US data, trade tensions loom

The spotlight is on Friday's non-farm payrolls report, which is expected to show a gain of 160,000 jobs for February, economists polled by Reuters said

Trump, tariffs, and European defence spending cloud ECB meeting outlook

The impact of a potential trade war with the United States and massive increases in European defence spending and government borrowing loom over a policy meeting Thursday at the European Central Bank, which is expected to cut interest rates by a quarter percentage point. Analysts are widely expecting a cut in the European Central Bank's (ECB) benchmark deposit rate to 2.50 per cent, a step to lower borrowing costs for consumers and businesses in an economy that's struggling to get out of first gear. The bank's monetary policy statement and post-meeting news conference by President Christine Lagarde will be scrutinised for hints about how far the bank will cut rates amid concerns about weak growth. The bank has already reduced the benchmark rate by 1.25 percentage points since June. Meanwhile new concerns that would massively reshuffle the economic picture are likely to intrude: the potential impact of new tariffs on European imports from US President Trump, which could slow growth,

As Donald Trump unleashes a trade war, here is how the world is responding

President Donald Trump's tariffs on China, India, Canada, Mexico, and the European Union have intensified global trade tensions, prompting swift retaliation and raising fears of economic instability

ArcelorMittal-Nippon warns import curbs may impact India production

ArcelorMittal Nippon Steel India, a 60-40 joint venture between Luxembourg-based ArcelorMittal and Japan's Nippon Steel, did not respond to a request for comment

US tariffs may flood India with cheap Chinese steel, warn industry experts

The imposition of tariffs by the US on imports from Mexico, Canada and China will affect the Indian steel industry as the country will become the natural target for cheap Chinese steel at a time when local players are undergoing a major capacity enhancement phase, industry experts said. The Trump administration imposed 25 per cent tariffs on imports from Mexico and Canada on Tuesday. The US also doubled the tariff on all Chinese imports to 20 per cent. "USA under the new President has announced new tariffs on China, Mexico and Canada. China is a major steel exporter to the USA. The recently announced US tariffs on steel imports from China means that this export will become unviable and surplus steel will be seeking new markets," former President of Indian Stainless Steel Development Association (ISSDA) Karan Pahuja said. "India becomes the natural target for cheap Chinese surplus steel at a time when it is undergoing a major capacity enhancement phase. The Indian steel industry is .

China vows to hit back with 'all necessary measures' against new US tariffs

The US action means the Chinese government will need to announce an additional stimulus worth 500 billion yuan ($69 billion) to 700 billion yuan to meet its growth targets

US can be 'fabulous economy' with tariffs: Trump' s chief WH economist

Miran offered some historical backup for Trump's attraction to the high-tariff policies of William McKinley, who was president at the turn of the last century, and some of his predecessors

US President Donald Trump vows to impose reciprocal tariffs on India, China

Trump made the remarks during a press conference in which he was asked about the meeting of Tesla CEO Elon Musk with PM Modi

Govt must cut tariffs to progress, says Niti Aayog CEO BVR Subrahmanyam

Tariff does not protect any country and India needs to cut tariffs for its own good, irrespective of who tells India to do so, NITI Aayog CEO BVR Subrahmanyam said on Friday. Addressing the 69th Foundation Day of All India Management Association (AIMA), Subrahmanyam further said that being open to the world has to be among the top five priorities of India if it wants to become a developed country. To cut tariffs, India must complete trade agreements with the European Union, the United Kingdom and other major economies, he added. The Niti Aayog CEO stressed that deregulation at both centre and the state levels are critical for making India a part of the global supply chains. There is interest in India but people visit, see and fly to other countries, he said. Subrahmanyam pointed that Indonesia, Vietnam, Turkey and others have been beneficiaries of 'China plus one' strategy of global companies. He argued that global value chain needs more than PLI (production linked incentive) --

India must push 'zero for zero' strategy to address US tariffs threat: GTRI

India should propose a 'zero-for-zero' tariff strategy to the US for addressing America's proposed reciprocal tariff hikes, as it would be less harmful than negotiating a full bilateral trade agreement, economic think tank GTRI said in its report on Friday. Under this strategy, the Global Trade Research Initiative (GTRI) suggested the government identify tariff lines (or product categories) where India can eliminate import duties for American imports without harming domestic industries and agriculture. In lieu of that, the US should also remove duties on a similar number of goods. India can exclude most agriculture items from this list and to prepare it, India can refer to its Free Trade Agreement (FTA) tariff offers to Japan, Korea, and ASEAN as a starting point, it added. GTRI Founder Ajay Srivastava said this list should be discussed with the US before April, ahead of its reciprocal tariff announcement. It will be like doing a quick FTA in goods and if the US accepts, the ...

Japan raises concerns over auto tariffs with US as Trump threatens 25% hike

It's not clear if Japan is also seeking an exemption from the auto tariffs as Trade Minister Yoji Muto didn't respond directly on Tuesday when asked about it

How to trade Nifty Auto, IT, Pharma as Trump threatens up to 25% tariffs

Technical chart suggests that the Nifty Auto, IT and Pharma indices can potentially fall up to 22% from present levels if these key support levels are broken.

Export sector face uncertainty as Trump threatens reciprocal tariffs

To ease trade tension, India has already cut tariffs on several items, for example to 30 per cent on high-end motorcycles from 50 per cent and 100 per cent on bourbon whiskey from 150 per cent

US' reciprocal tariffs on Indian exports will have a limited impact: SBI

The latest report by SBI's Economic Research Department suggests that the overall bilateral negotiations between India and US could provide further collateral benefit to India