Page 11 - Us Tariffs

Rupee tumbles past 88 against dollar to fresh low on US tariff hit

The rupee slumped to an all-time closing low against the dollar, pressured by US tariffs, equity outflows, and weak Asian peers

Stock market declines for 2nd month as US tariffs weigh on sentiment

Sensex and Nifty fell for a second month as US tariffs hit sentiment, though GST reform hopes and rating upgrade cushioned the slide

'Cost of backing Putin': Senator Graham warns India on Russian oil import

India has come under increased scrutiny from Washington over its oil trade with Russia. The US, led by President Donald Trump, has imposed punitive tariffs of 50 per cent on Indian imports

Tariff fix key to India-US trade deal negotiations, govt remains hopeful

Multi-pronged strategy in the works to help exporters

Textiles seek more incentives as govt extends duty-free cotton imports

Tamil Nadu urges higher export incentives and faster EU trade deal as duty-free cotton imports extended till Dec 31, while farmers complain of falling domestic cotton prices due to cheap US supplies

Nvidia CEO says AI boom far from over after tepid sales forecast

The founder and CEO's bullish outlook contrasts with recent signs of fatigue in AI-focused stocks and comments from industry leaders about overheated investor enthusiasm

US tariff hike to hit livelihood of 1.5 mn people in Odisha fishing sector

The new tariff imposed by US President Donald Trump on Indian exports will affect the livelihood of at least 15 lakh people engaged in the fishing sector, seafood exporters' association said on Thursday. Claiming that the seafood exports to the US would halt as the Indian businessmen could not compete in the American market, as traders from Vietnam and other Asian countries are taxed at a lower rate there, said Tara Ranjan Patnaik, a member of the Seafood Exporters' Association of India. Patnaik, who is also chairman of Odisha-based Falcon Marine Exports, a leading frozen shrimp exporter, told PTI: We have already reduced production and collection of seafood, which were meant for exports to the US. The impact has already been felt in the coastal states like Odisha. It will affect the livelihood of at least 15 lakh people engaged in the fishing sector." The additional 25 per cent tariff imposed by Trump on India for the country's purchases of Russian oil came into effect on Wednesday

AP commerce body urges Centre to protect shrimp sector from US tariffs

Andhra Pradesh Chambers of Commerce and Industry Federation on Thursday appealed to the Centre to protect shrimp farmers and exporters with policy and financial interventions in the face of 50 percent tariffs and other taxes slapped by the US on Indian imports. The president of the chambers, P Bhaskar Rao, said the sudden spike in US tariffs has put the livelihood of 2.8 crore people who engage in aquaculture and allied sectors at risk. "Unless urgent policy and financial interventions are made, India risks losing global competitiveness in seafood exports. We strongly urge the Union government to act swiftly in coordination with the state governments to safeguard this vital sector," said Rao in a press release. According to the chambers, India is the second largest seafood exporter globally, accounting for exports worth Rs 60,524 crore or USD 7.3 billion in FY24, while the US alone imported 25 percent of this quantum. Shrimp contributes over 40 percent of the total export quantity

We're creating a system for shipbuilding in India, says Sarbananda Sonowal

First phase [of Vadhavan port] is expected to be completed by 2029 and second by 2037, says Sonowal

US tariffs may cut India growth by 0.5%: Ex-commerce secretary G K Pillai

A steep 50 per cent tariff imposed by the US on shipments from India would have a very small impact on India's economic growth of about 50 basis points if exporters are unable to find alternative markets, former Commerce and Home Secretary G K Pillai said on Thursday. Terming the steep tariff imposed on India as discriminatory, he said others like China and many European nations also import energy from Russia, but the US has not imposed a penalty against them. "Impact of the US tariffs on India would be very small, say about 0.5 per cent, but it is going to affect labour-intensive sectors like textiles, gems and jewellery, seafood exports, chemicals, and so on," he said at an event here. "At least for 3-6 months, the profitability of Indian companies will come down. Some companies will be forced to lay off workers but I am sure that the government will take steps to see that this is mitigated," he said. The government needs to take some steps to help exporters and industries to tid

Welspun Living, Alok Ind: Textile stocks slip up to 4% on US tariff jitters

Textile stocks traded largely negative, falling up to 4 per cent, after 50 per cent tariffs levied by the US on Indian goods came into effect from August 27, 2025

Chips, AI, rare earth minerals: PM Narendra Modi to court Japan Inc

PM Modi's two-day Japan visit will focus on 'Make in India' pitch, trade, technology, and strengthening the India-Japan strategic partnership

US tariffs: Bracing for pain, exporters cling to trade deal hopes

Workers, small business owners fear loss of livelihood as factories reduce operational hours amidst cancelling of orders

Communication channels open, says govt as 50% US trade tariff kicks in

In the meantime, describing the India-US relationship as "very complicated", US Treasury Secretary Scott Bessent, in a television interview, hoped that "at the end of the day, we will come together"

India Inc bonds resilient amid record trade costs from US tariffs: Barclays

Barclays says Indian corporates will face margin compression but remain supported by strong leverage, liquidity and domestic demand as US tariffs hit $55 bn exports

US tariffs a wake-up call for India to push bold reforms: Amitabh Kant

India should view US tariffs as a wake-up call to implement bold and once-in-a-generation reforms and diversify its export markets for long-term growth, former Niti Aayog CEO Amitabh Kant said on Wednesday. Addressing the BN Memorial Lecture organised by IRS (C&IT) Association, Kant said, "This is India's century, irrespective of Trump's tariff, I strongly believe that Trump has given us a huge opportunity for reforms". On the US excuse of Russian oil imports for tariff hike, Kant said, "It's not about Russian oil. If it were the issue, then China buys much more Russian oil and Turkey buys as much Russian oil". The former G-20 Sherpa also talked about disruption in the global supply chain and India's need to improve administrative efficiency for the rapid expansion of production infrastructure. "Trump's tariffs must be a wake-up call for India. The irony is striking: the U.S. is actively negotiating with Russia and China, the latter being the largest buyer of Russian oil, yet ...

What to know about India's rising oil imports from Russia amid US tariffs

President Trump accused India of aiding Moscow's war on Ukraine by purchasing Russian energy, derailing trade talks between India and the United States

Commerce ministry holds talks with exporters to counter steep US tariffs

The Commerce Ministry will hold a series of meetings this week with exporters from various sectors, including chemicals, gems and jewellery, to discuss ways to boost exports to new markets to shield industries from the steep 50 per cent US tariffs on Indian goods, an official said on Wednesday. The official also said work is progressing fast on the formulation of the Export Promotion Mission, announced in the Budget for 2025-26. "In the next 2-3 days, the ministry will meet stakeholders on the diversification of exports," the official added. The steep 50 per cent tariff on Indian goods entering the United States, which came into effect from August 27, would impact exports worth more than USD 48 billion. The sectors which would bear the brunt of the high import duties imposed by the Trump administration include textiles/ clothing, gems and jewellery, shrimp, leather and footwear, animal products, chemicals, and electrical and mechanical machinery. Sectors such as pharma, energy ...

Additional 25% tariff imposed by Trump on India comes into effect

The additional 25 per cent tariff imposed by US President Donald Trump on India for its purchases of Russian oil came into effect Wednesday, bringing the total amount of levies imposed on New Delhi to 50 per cent. The Department of Homeland Security (DHS), in a draft order published on Monday, said the increased levies would hit Indian products that are entered for consumption, or withdrawn from warehouse for consumption, on or after 12:01 am eastern daylight time on August 27, 2025. Trump had announced reciprocal tariffs of 25 per cent on India that came into effect on August 7, when tariffs on about 70 other nations also kicked-in. On August 7, the US president announced doubling tariffs on Indian goods to 50 per cent for India's purchases of Russian crude oil, but gave a 21-day window to negotiate an agreement. On Monday, Prime Minister Narendra Modi asserted he can't compromise on the interests of farmers, cattle-rearers, small-scale industries, cautioning "pressure on us may .

'Somebody not very happy': Fiji PM on PM Modi's resilience amid US tariffs

Rabuka revealed insights from his conversation with Prime Minister Modi during an audience interaction following his lecture on 'Ocean of Peace' at Sapru House