Page 9 - Us Tariffs

US needs to 'fix' countries like India and Brazil: Lutnick amid tariff row

Commerce Secretary Howard Lutnick has said that the US will have to fix countries like Brazil and India, asserting that these nations need to react correctly to America by opening their markets and refraining from actions that could harm American interests. The Trump administration has imposed 50 per cent tariffs on India, including a 25 per cent tariff on New Delhi's purchases of Russian oil, among the highest tariff rates imposed on any country in the world. "We have a bunch of countries to fix, like Switzerland, Brazil, India - these are countries that need to really react correctly to America. Open their markets, stop taking actions that harm America, and that's why we're off sides with them," Lutnick said in an interview with NewsNation. Lutnick said that these countries have to understand that if "you want to sell to the US consumers, you've got to play ball with the President of the United States." Apart from India and Brazil, Lutnick also mentioned countries like Taiwan and

Sun Pharma hit by US tariff risk, but earnings impact to remain limited

The imposition of a 100 per cent tariff by the US on imports of branded and patented pharmaceutical products starting October 1 may not significantly hurt Indian drug makers, with Sun Pharma being exposed to some headline risk but with limited earnings impact, according to analysts. Among Indian companies, only Sun Pharma has sizeable sales from patented drugs in the US (about 17 per cent of 2024-25 revenue), HSBC Global Investment Research said in a report. The US last week announced the imposition of a 100 per cent tariff on branded or patented drugs entering the United States from October 1, except for pharmaceutical companies building manufacturing plants in the US. The exemption covers projects where construction has started, including sites that have broken ground or are under construction. HSBC said Sun Pharma reported global sales of USD 1.217 billion from patented products in FY25, of which the US market accounted for about USD 1.1 billion (85-90 per cent of global sales),

US tariffs threaten $3.1 bn Singapore pharma exports, trade talks continue

This is a concern for Singapore as pharmaceuticals form around 13% of all Singapore exports to the U.S., said Gan

ICICI, Axis, SBI: Nomura prefers large banks over small amid tariff jitters

Nomura's top picks in the current tariff scenario include ICICI Bank (Buy), State Bank of India (SBI) (Buy), and Axis Bank (Buy)

US probes Waaree Energies over alleged duty evasion on Chinese solar cells

US Customs as started a formal investigation of Waaree and Waaree Solar Americas Inc over suspected evasion of anti-dumping duties, imposing interim measures on solar imports

US economy shows surprising 3.8% growth rate after major revision of Q2 GDP

The US economy expanded at a surprising 3.8 per cent from April through June, the government reported in a dramatic upgrade of its previous estimate of second-quarter growth. US gross domestic product the nation's output of goods and services rebounded in the spring from a 0.6 per cent first-quarter drop caused by fallout from President Donald Trump's trade wars, the Commerce Department said Thursday. The department had previously estimated second-quarter growth at 3.3 per cent. The first-quarter GDP drop, the first retreat of the US economy in three years, was mainly caused by a surge in imports which are subtracted from GDP as businesses hurried to bring in foreign goods before Trump could impose sweeping taxes on them. That trend reversed as expected in the second quarter: Imports fell at a 29.3 per cent pace, boosting April-June growth by more than 5 percentage points. Consumer spending rose at a 2.5 per cent pace, up from 0.6 per cent in the first quarter and well above the

Govt aims to expand trade in energy products with US: Piyush Goyal

India assures US of a bigger role in its energy security, with plans to boost trade in energy and nuclear cooperation, while avoiding mention of Russian oil imports amid tariff tensions

GJEPC urges FM for relief as US tariffs hit gems and jewellery sector

The Gem and Jewellery Export Promotion Council (GJEPC) on Wednesday met with Finance Minister Nirmala Sitharaman and sought urgent relief measures for the sector, which has been severely impacted by the recent 50 per cent tariff imposed by the US, a statement said. GJEPC stated that the resumption of India-US trade discussions is encouraging, but the immediate introduction of relief measures to help the sector survive and sustain employment is essential as the talks may take time to conclude. "We are pleased that India-US trade discussions have resumed, which is encouraging news. However, the process may take time, and until a resolution is achieved, it is essential to introduce relief measures to help the sector survive and sustain employment, the industry body stated. "We have requested allowing SEZ units to undertake reverse job work and DTA sales to keep factories and artisans engaged, extending export obligation periods for the US shipments, and providing an interest moratorium

Datanomics: Corn symbolises thorny issues in US-India trade talks

India's corn imports from the US were just $ three million in FY18, accounting for 0.3 per cent of total agricultural imports from that country

Flash PMI eases to 58.5 in September on weak export orders

India's Flash PMI slowed in September as weak export orders hurt manufacturing while domestic demand ahead of festivals offered support, easing price pressures and lifting confidence

US tariff impact: Cut and polished diamond exports to fall 17-20% in FY26

India processes over 90 per cent of the world's polished diamonds by volume and exports nearly 47 per cent of the country's total gems and jewellery exports

US calls Piyush Goyal's visit for trade talks an important step forward

According to people aware of the matter, Goyal will meet United States Trade Representative (USTR) Jamieson Greer this week on the sidelines of the United Nations General Assembly

Tariff turbulence: Mass-market products feel the US tariff pinch

US tariff hikes choke Indian exports; apparel, textiles, auto parts and gems face slowdown as workers in NCR clusters fear job losses

India-US relations mired in tariffs, personal ambitions and mistrust

The chief complaints of the Trump administration have centred on 'higher' tariffs charged by India on American goods and the trade surplus India enjoys with the US

Markets hit two-month highs on Fed hopes and trade optimism; rupee rebounds

Indian equities rose to two-month highs on optimism around India-US trade talks and expectations of a US Fed rate cut, with strong FPI and DII inflows supporting sentiment

Rupee gains as dollar weakens on expectation of rate cut by US Fed

The dollar index declined 0.3 per cent on Tuesday, supporting a rally in most Asian currencies, including the rupee

FIIs under-own India; consumption next rally driver: LKP Sec's Ashwin Patil

India remains under-owned: FIIs hold 19 per cent of equities, lagging emerging market averages and FIIs have broadened exposure into small-and mid-caps

US tariff: Export Promotion Mission Scheme to be placed before Cabinet soon

The inter-ministerial consultations for the Export Promotion Mission have concluded and the proposal will soon be sent to the Union Cabinet seeking its approval, sources said. The government is considering support measures worth about Rs 25,000 crore for exporters under the Export Promotion Mission, announced in the Budget, for six financial years (2025-2031), PTI had reported citing sources last month. The mission, if approved, can help insulate domestic exporters from global trade uncertainties arising from Trump tariffs. The US has imposed a hefty 50 per cent tariff on Indian goods, starting August 27. "So export promotion mission, you know, the inter-ministerial consultations have happened, and soon we will be going to cabinet. Already in the Budget, there was an announcement, and it would be a kind of a scheme which would be fungible," sources said.

US signals softer stand in BTA: Access to high-end cheese, not milk market

US signals softer dairy stance, eyeing premium cheese exports to India as trade talks restart; India wary of opening sensitive farm sector

Policy stability key to India's manufacturing future: Maruti Suzuki MD

Takeuchi cited Suzuki Motor Corporation's decision to produce its first global electric vehicle, the e-VITARA, in India as evidence of the country's rising status in world markets