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How Trump’s tariffs will impact the tech sector
Economic Times
·
5m ago
Medial
President Trump’s tariffs, imposing a 10% blanket duty and higher rates for select countries, have shocked global markets, possibly triggering retaliations and economic downturns. India faces a 27% tariff, severely impacting its electronics exports to the US, notably affecting companies like Apple and Samsung. Despite setbacks, India sees potential competitive advantages over China and Vietnam. While India's IT sector wasn't directly targeted, market reactions were negative, and eCommerce faces challenges from a closed trade loophole targeting China.
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Trump’s tariffs to worsen the slump in one large corner of Indian banking
Livemint
·
13d ago
Medial
Indian banks are facing a potential slowdown in corporate loan growth due to trade disruptions caused by Trump's high tariffs on goods entering the US. Although the direct exposure of top banks like SBI, ICICI, and HDFC to affected sectors like textiles, jewellery, apparel, and machinery is limited, accounting for only about 10% of their total loans, the broader economic impact may still affect lending activities as these industries struggle under the tariffs' pressure.
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Apple earnings under pressure from tariffs, slow AI roll-out - The Economic Times
Economic Times
·
1m ago
Medial
Apple is facing challenges including U.S. tariffs, competition in China, and an AI market it has entered late. Despite expectations of a 4.2% revenue growth, investors are focused on how Apple will navigate potential liabilities in its global supply chain. To mitigate tariff impacts, Apple shifted iPhone production to India, boosting local smartphone production by 240%. Analysts expect Apple’s strategy to reduce tariffs' impact, while its cautious AI approach raises concerns amid rapid industry advancements.
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Move beyond Trump’s tariff war: Former Niti Aayog CEO Amitabh Kant warns of a deeper global economic reset
Economic Times
·
4m ago
Medial
Former NITI Aayog CEO Amitabh Kant warns about a profound shift in the global economic landscape beyond headline tariffs. He highlights a reset in global trade amid rising geopolitical tensions, broken supply chains, and a shift from free trade to protectionism, noting the impact of Trump's tariffs. Kant sees the end of post-WWII economic stability as countries like the U.S. and China grapple with new conflicts, presenting India with potential opportunities for strategic supply chain diversification.
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Germany slams Donald Trump tariffs, US tech titans in crosshairs
Economic Times
·
5m ago
Medial
German Chancellor Olaf Scholz criticized new US tariffs as "fundamentally wrong," warning that the European Union might retaliate by targeting American tech giants. The tariffs, unveiled by President Trump, could harm global trade and economies. Economy Minister Robert Habeck mentioned potential EU tax measures against US tech firms. As Germany faces significant impact due to its major exports, business groups decried the tariffs as a threat to international trade and economic stability.
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First Wall Street warning: JP Morgan says Trump’s tariffs will tip US into recession
Business Today
·
4m ago
Medial
JP Morgan predicts that Trump's tariffs will lead to a US recession starting in late 2025, with GDP declines in Q3 and Q4. The tariffs include a 10% base duty on imports and additional levies on certain countries. Economic forecasts vary, with Barclays predicting a contraction and others suggesting slight growth. The tariffs have also led to significant drops in major stock indices, with equities losing $5.4 trillion in value. The unemployment rate is expected to rise, prompting the Fed to cut rates in 2026.
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Trump’s 50% tariff threat puts India’s gem and jewellery exports at risk
Economic Times
·
24d ago
Medial
The U.S. government's decision to impose a 50% tariff on Indian goods threatens India's gem and jewellery industry, warns Kirit Bhansali of the Gem and Jewellery Export Promotion Council. This move could severely impact India's economy, particularly since the U.S. is a major export market worth over $10 billion. Competing countries with lower tariffs may also undermine India's trade competitiveness. Despite challenges, the industry remains resilient, exploring new markets and relying on strong domestic growth.
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Trade tensions, tariffs to disturb rapid growth of data centres: Moody's
Economic Times
·
3m ago
Medial
Trade tensions and tariffs are likely to impact the growth of data centers driven by the AI boom, according to Moody's. Tariffs on essential materials and components could raise costs, affecting both current facilities and projects in development. While cash-rich hyperscalers can absorb increased costs, margins for services may suffer. The IT hardware sector, particularly AI servers, will be notably affected due to reliance on imports from high-tariff countries, complicating data center construction and increasing financial risks.
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A comprehensive list of 2023 & 2024 tech layoffs
TechCrunch
·
1y ago
Medial
In the tech industry, there have been significant layoffs in 2023 and 2024. Companies like Google, Amazon, Microsoft, and TikTok have all announced job cuts. The layoffs are a reflection of the challenges faced by tech companies, with many facing tough market conditions and needing to focus on efficiency rather than growth. The layoffs also highlight the impact on innovation and the human aspect of job cuts. The total number of layoffs in 2023 was 262,735, which is 59% higher than the previous year. The tech sector continues to face challenges, and it remains to be seen how the job market will evolve.
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Before Trump, British used tariffs to kill Indian textile
Economic Times
·
20d ago
Medial
US President Donald Trump's 50% tariff on Indian imports threatens India's textile sector, particularly in Tamil Nadu's Tiruppur. The tariffs could impact Rs 6,000 crore worth of exports to the US. The situation recalls historical British colonial tariffs aimed at crippling India’s once-thriving textile industry. These strategies helped Britain dominate global textiles by fostering a reliance on British goods and dismantling traditional Indian manufacturing through restrictive tariffs and duties.
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Government and private sector to limit disruption from Trump’s tariffs, says finance ministry
Economic Times
·
3d ago
Medial
The Indian government and private sector aim to minimize economic disruptions from US tariffs, as per the finance ministry's monthly report. The US has imposed a 50% tariff on Indian imports, raising concerns about exports and capital formation. Despite potential secondary economic impacts, India's macroeconomic resilience remains strong. Upcoming reforms, such as GST adjustments and deregulation, are expected to bolster investment and consumption, ensuring the country's progress and global competitiveness amidst rising global economic self-interest.
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