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Additional 25% tariff will essentially cut off most Indian exports to US, says former trade official
Economic Times
·
2d ago
Medial
U.S. President Donald Trump's decision to impose an additional 25% tariff on Indian imports could significantly disrupt Indian exports to the U.S., warned former U.S. trade official Wendy Cutler. The escalation stems from India's ongoing purchase of Russian oil, which Trump criticizes as supporting Russia's actions in Ukraine. Cutler urged U.S. and Indian officials to resolve their disagreements privately to avert further deterioration in bilateral relations amidst this trade dispute.
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India offered US a deal, basically zero tariffs, says Donald Trump
Economic Times
·
2m ago
Medial
In a significant development, US President Donald Trump announced that India has proposed a trade deal offering zero tariffs on a wide range of American products. Both nations are engaged in high-level trade negotiations to resolve tariff issues. India aims to reduce average tariffs from 13% to under 4% and seeks US tariff exemptions in return. Recently, the US temporarily suspended additional tariffs on Indian exports, fostering positive trade discussions.
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Harsh Goenka slams Trump's tariff hike on India, says 'You can tariff our exports, but not our sovereignty'
Economic Times
·
2d ago
Medial
Industrialist Harsh Goenka criticized the U.S. for imposing a 25% tariff on Indian goods due to India's purchase of Russian oil, asserting that while they can tariff exports, they cannot affect India's sovereignty. Goenka emphasized India's commitment to self-reliance and alternative trade strategies. The tariff increase to 50% affects sectors like textiles and leather, as India is penalized while other countries are not. India's response could influence upcoming trade negotiations.
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ET Graphics: India cuts tariffs, counters 'tariff king' tag
Economic Times
·
2d ago
Medial
In response to U.S. President Donald Trump's criticism of India as a 'tariff king', the U.S. has imposed an additional 25% duty on Indian goods. Despite these accusations, data reveals that India has been consistently reducing tariff and non-tariff barriers, with recent Indian tariff cuts benefiting the U.S. the most. This challenges the validity of Trump's claims regarding India's trade practices, suggesting they might be unfounded.
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India says studying impact of 27% US tariff, vows to push trade deal
VCCircle
·
4m ago
Medial
India is evaluating the impact of a 27% U.S. tariff on its exports and intends to pursue a trade deal despite President Trump's protectionist measures. The tariff, slightly lower than those imposed on China and Vietnam, led to modest declines in Indian markets. However, Indian pharmaceuticals were exempted, benefiting the sector. The U.S. has a $46 billion trade deficit with India. Ongoing negotiations aim to address trade, investment, and technology exchange between the two nations.
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India has not been a good trading partner, says Donald Trump
Economic Times
·
3d ago
Medial
U.S. President Donald Trump criticized India as an unsuitable trading partner, planning significant tariff increases on Indian imports due to its ongoing Russian oil purchases. Trump accused India of fueling Russia's war efforts, citing high Indian tariffs as a sticking point. India, buying substantial Russian oil volumes, refuted the criticism, noting extensive U.S. and EU trade with Russia. The tariff hike could heavily impact Indian exports, with predicted declines in trade value.
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Trump's 25% tariff may put pressure on India’s gem and jewellery exports
Economic Times
·
9d ago
Medial
The recent imposition of a 25% tariff by the US on India’s gem and jewellery exports, effective from August 1, is expected to significantly impact the industry. This steep tariff raises concerns about reduced orders, inflated costs, squeezed profit margins, and potential job losses, particularly in Surat's diamond hub. India's gem and jewellery trade, already reeling from a previous 10% tariff, faces heightened challenges as exporters struggle with price negotiations and survival concerns.
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Trump Secures Historic $550B Trade Deal With Japan: Big Boost for US Auto, Agriculture Sectors
StartupTalky
·
16d ago
Medial
Former President Donald Trump announced a historic $550 billion trade agreement with Japan, enhancing U.S. auto and agriculture exports. The deal involves Japan investing billions in the U.S., with American imports to face a 15% tariff. Key agreements include lowered tariffs on U.S. cars and agricultural products entering Japan, although Japan maintains its tariff levels. Following the deal, Japan's stock market surged while its political leader, Shigeru Ishiba, faces challenges after election losses.
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High US tariff comes 'shocking'; to hit India's shrimp exports: Agri-economist Ashok Gulati
Economic Times
·
9d ago
Medial
India's shrimp exports are expected to be significantly affected by a new US tariff of 25%, which includes penalties starting August 1, according to agri-economist Ashok Gulati. Trump's unexpected decision is seen as punitive and will likely benefit Equador, which faces lower tariffs. India's shrimp exports, a vital component of its seafood sector, have a significant market in the US, making this tariff particularly impactful. The tariff also influences Indian textile exports to the US.
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MeitY wants tariff shield for electronics exports - The Economic Times
Economic Times
·
10d ago
Medial
India is seeking a tariff shield for its electronics exports, primarily reliant on the US market, to avoid being grouped with major exporters like China. The Ministry of Electronics and Information Technology (MeitY) has urged the Commerce Department to advocate for more favorable tariffs amid ongoing US-India trade discussions. India aims to enhance its burgeoning electronics sector under government support, overcoming potential tariff barriers that may arise from US trade policies targeting exports from Asia.
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India-UK trade pact to help boost exports of labour-intensive sectors, says exporters' body FIEO
Economic Times
·
16d ago
Medial
The proposed India-UK trade pact is expected to enhance exports in labor-intensive sectors like textiles, leather, gems, jewellery, pharmaceuticals, marine, and engineering goods. Scheduled for signing during Prime Minister Narendra Modi's visit, the agreement aims to double bilateral trade to USD 120 billion by 2030. It promises tariff eliminations on Indian garments, improved market access, and regulatory easing, thus benefiting sectors including pharmaceuticals and IT services while creating new opportunities for Indian businesses.
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