Page 7 - Us Tariff Hikes

Jamie Dimon warns of stagflation risk amid US economic uncertainty

Dimon's comments expand on remarks he made in recent , when he warned against complacency and said recession remains a possibility, adding that many of the effects of the tariffs are yet to be seen

India-US trade pact talks moving forward smoothly: Commerce Secretary

India and the US are making steady progress on a bilateral trade deal, with high-level talks scheduled in Washington as both nations explore early wins and deeper economic cooperation

Goyal to lead team of officials to Washington for trade talks from May 16

Commerce and Industry Minister Piyush Goyal will lead a team of senior Indian officials to Washington starting May 16 for discussions with their US counterparts on the proposed bilateral trade agreement (BTA), an official said on Tuesday. Goyal is expected to hold meetings with US Trade Representative (USTR) Jamieson Greer and US Commerce Secretary Howard Lutnick during his visit. The four-day talks come against the backdrop of both countries exploring the possibility of an interim trade arrangement in goods to secure "early mutual wins" ahead of finalising the first phase of the trade agreement by fall (September-October) this year. Through these discussions, officials from New Delhi and Washington aim to take advantage of the 90-day tariff pause window to advance the talks. The US has suspended the additional 26 per cent tariffs on India till July 9. It was announced on April 2 to bridge the widening trade deficit. However, the 10 per cent baseline tariff imposed on the countrie

India offers steep tariff cuts to speed up trade pact talks with Trump

India has offered preferential access to nearly 90% of goods imported from the United States, including the reduced tariffs, one of the two officials said

Bitcoin surpasses $100,000 amid wide-ranging US-UK trade deal optimism

By midday, bitcoin was trading at $101,402.19, a 4.8 per cent gain on the day. The world's biggest cryptocurrency has clawed its way back into positive territory for the year

US Fed holds rates steady, cites risk of higher inflation, unemployment

The Fed's policy rate has been unchanged since December as officials struggle to estimate the impact of President Donald Trump's import tariffs

Global M&A deal signings fall to 20-year low amid Trump's 'Liberation Day'

There was one bright spot for M&A last month: tech deals in which value lies more in intellectual property like algorithms and software than in physical goods subject to tariffs, like autos

US trade deficit swells to record high amid rush to beat tariffs in March

Economists polled by Reuters had forecast the trade deficit rising to $137.0 billion from the previously reported $122.7 billion in February

Global debt hits record high of over $324 trillion: Banking trade group

The weaker dollar has worked as a buffer across developing economies, limiting the impact in emerging markets of the spike in volatility triggered by US President Donald Trump's trade war

Dollar under pressure as fading trade hopes boost rise of Asian currencies

The dollar was last down 0.5% on the Japanese yen at 142.99, and also lost ground versus European currencies with the euro and pound both up 0.2% at $1.1341 and $1.3328 respectively

High US tariffs on China can boost India's manufacturing, says CEA

Global disruptions have created opportunities for emerging nations like India, and US tariffs on China could drive manufacturing shift to India due to lower duties, Chief Economic Advisor (CEA) V Anantha Nageswaran said on Saturday. While there are worries about the first, second, and third round effects of the tariffs in terms of external demand to start with and the overall uncertainty and therefore implications for capital formation etc, there are some favourable outcomes also, he said at an event organised by Ashoka University here. One of the positive impacts of the uncertain global environment is a reduction in crude oil prices which are now available around USD 60 per barrel. It is a windfall from India as it lowers input cost and also provides fiscal space, he said. "China plus one, which was a different dimension earlier, now acquires a much higher sense of urgency for many other companies located inside China. So in some sense, you can call it a second wind (in favour of .

Trump claims China will 'eat' tariffs, reducing impact on US consumers

Trump said he did not believe hard times were ahead for US consumers, while acknowledging that his 145% tariffs on many Chinese goods amounted to a near-embargo

US economy shrinks 0.3% in Q1 as tariff-driven imports hit GDP growth

Gross domestic product decreased at a 0.3% annualized rate last quarter, the Commerce Department's Bureau of Economic Analysis said in its advance estimate of first-quarter GDP on Wednesday

Trump to ease 25% auto tariffs to support US carmakers, factory jobs

President Donald Trump will sign an executive order Tuesday to relax some of his 25 per cent tariffs on autos and auto parts, the White House said, a significant reversal as the import taxes threatened to hurt domestic manufacturers. Automakers and independent analyses have indicated that the tariffs could raise prices, reduce sales and make US production less competitive worldwide. White House press secretary Karoline Leavitt said at a Tuesday briefing that Trump would sign the order later in the day but declined to provide details on the order. Treasury Secretary Scott Bessent, who joined Leavitt at the White House briefing, said the goal was to enable automakers to create more domestic manufacturing jobs. President Trump has had meetings with both domestic and foreign auto producers, and he's committed to bringing back auto production to the US, Bessent said. So we want to give the automakers a path to do that, quickly, efficiently and create as many jobs as possible. Stellantis

US consumer confidence hits 5-year low amid rising tariff concerns

Americans' confidence in the economy slumped for the fifth straight month to the lowest level since the onset of the COVID-19 pandemic as anxiety over the impact of tariffs takes a heavy toll. The Conference Board said Tuesday that its consumer confidence index fell 7.9 points in April to 86, its lowest reading since May 2020. Nearly one-third of consumers expect hiring to slow in the coming months, nearly matching the level reached in April 2009, when the economy was mired in the Great Recession. The figures reflect a rapidly souring mood among Americans, most of whom expect prices to rise because of the widespread tariffs imposed by President Donald Trump. About half of Americans are also worried about the potential for a recession, according to a survey by The Associated Press-NORC Centre. Rattled consumers spend less than confident consumers, said Carl Weinberg, chief economist at High Frequency Economics, in an email. If confidence sags and consumers retrench, growth will go ..

US goods trade deficit widens in March due to sharp jump in imports

Goods imports soared $16.3 billion to $342.7 billion, likely as businesses rushed to bring in goods to avoid President Donald Trump's sweeping tariffs

Wall Street choppy as markets juggle trade war news, mixed earnings

The world's two largest economies have slapped tit-for-tat import tariffs on each other and uncertainty around the state of negotiations between the two has kept markets on edge

Amazon denies plans to display Donald Trump-imposed tariffs on listings

Trump has imposed a tsunami of tariffs on US trading partners, including China, which has seen tariff costs rise by 145 per cent since Trump took office

Coca-Cola reports double-digit volume growth in India, helped by Thums Up

Coca-Cola reported better-than-expected earnings in the first quarter and said the impact of tariffs on its business are likely to be manageable. Revenue fell 2 per cent to USD 11.1 billion in the January-March period, the company said on Tuesday. That was in line with Wall Street's expectations, according to analysts polled by FactSet. Net income rose 5 per cent to USD 3.3 billion for the quarter. Adjusted for one-time items, the Atlanta company earned 73 cents per share. That beat expectations of 72 cents. Shares rose 1.5 peer cent before the opening bell Tuesday.

AO Smith Q1 revenue dips 2% on weak US, China water heater demand

The company, which makes residential and commercial water heaters, boilers, tanks and treatment products, posted a 2 per cent fall in quarterly sales to $963.9 million