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Trump tariffs deal $12-billion blow to Indian engineering exports; EEPC eyes market diversification

Economic Times

Economic Times · 1d ago

Trump tariffs deal $12-billion blow to Indian engineering exports; EEPC eyes market diversification

Indian engineering goods exporters face a $12 billion impact from a 25% US tariff starting August 1, affecting over 60% of India's engineering shipments, primarily steel and aluminium products. The move threatens India's largest export market, spurring strategies to diversify into South America and Mexico. While industry analysts foresee shipment declines, EEPC actively explores risk mitigation. Exporters are advised caution until further clarity on penalties and potential trade agreements emerges.

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India offered US a deal, basically zero tariffs, says Donald Trump

Economic Times

Economic Times · 2m ago

India offered US a deal, basically zero tariffs, says Donald Trump

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.

Mission 500: Donald Trump, PM Modi agree to double bilateral trade to $500 bn by 2030, sources to BT

Business Today

Business Today · 4m ago

Mission 500: Donald Trump, PM Modi agree to double bilateral trade to $500 bn by 2030, sources to BT

Donald Trump and PM Modi have agreed to increase bilateral trade between the U.S. and India to $500 billion by 2030. This agreement does not involve any commitment from India regarding trade tariffs. In the fiscal year 2023-24, the U.S. was India’s largest export market, accounting for 17.74% of India’s total exports, with Indian exports to the U.S. totaling $77.52 billion.

Donald Trump tariffs marginally favourable for Indian smartphone exports: Crisil

Economic Times

Economic Times · 3m ago

Donald Trump tariffs marginally favourable for Indian smartphone exports: Crisil

US tariffs, particularly those initiated by President Donald Trump, may slightly benefit India's smartphone exports. While U.S. tariffs on Chinese imports stand at 245%, Indian exports face a lower tariff of 26%. This could make Indian-made smartphones more competitive, despite being priced higher than Chinese ones. However, such tariffs may increase U.S. inflation and push global manufacturers to seek markets with lower tariffs, potentially impacting India's export boost in the longer term.

Trump Secures Historic $550B Trade Deal With Japan: Big Boost for US Auto, Agriculture Sectors

StartupTalky

StartupTalky · 10d ago

Trump Secures Historic $550B Trade Deal With Japan: Big Boost for US Auto, Agriculture Sectors

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.

India-UK FTA signed: Whisky, EVs, cosmetics and jewellery to get cheaper — Here’s what each side gets

Economic Times

Economic Times · 9d ago

India-UK FTA signed: Whisky, EVs, cosmetics and jewellery to get cheaper — Here’s what each side gets

India and the UK have signed a Free Trade Agreement (FTA) promising duty-free access for 99% of Indian exports, including engineering goods, chemicals, and pharmaceuticals. Indian consumers will benefit from reduced tariffs on UK imports like Scotch whisky and electric vehicles. The FTA aims to boost bilateral trade by $34 billion, fostering economic cooperation with tariff cuts, enhanced mobility for professionals, and expanded market access. Additionally, the UK secures access to India's government procurement market.

India, UK start a new chapter with FTA

Economic Times

Economic Times · 8d ago

India, UK start a new chapter with FTA

India and the UK signed a Comprehensive Economic and Trade Agreement (CETA) aiming to double trade to $100 billion by 2030. The agreement, marking India's 16th trade pact, removes duties on Indian exports like leather and clothing, while UK imports like whisky and cars get reduced tariffs. The deal, signed amidst Brexit, enhances trade prospects, provides duty-free access for Indian agricultural products, and boosts shared opportunities in several sectors.

India seeks quick US trade deal as Trump tariffs paused

VCCircle

VCCircle · 3m ago

India seeks quick US trade deal as Trump tariffs paused

India is pushing for a rapid trade deal with the US following President Trump's tariff adjustments, pausing tariffs for many countries while raising them for China. Both nations aim to finalize the first phase of the deal by late this year, targeting $500 billion in trade by 2030. The US temporarily reduced duties, providing relief for certain exports from India, while raising tariffs on China, prompting India to enhance import scrutiny to prevent dumping.

Brookfield eyes tripling India assets to $100 bn in five years

VCCircle

VCCircle · 2m ago

Brookfield eyes tripling India assets to $100 bn in five years

Brookfield Asset Management plans to triple its India investments to $100 billion within five years, focusing on infrastructure, clean energy, and real estate. Having already invested $12 billion each in infrastructure assets and real estate, and $3 billion in clean energy projects, Brookfield sees India as a crucial beneficiary of global supply chain diversification. The firm will continue exploring opportunities in transport infrastructure, utilities, power generation, and various real estate sectors.

Reliance Industries to evaluate impact of EU sanctions on Russian oil trade

Economic Times

Economic Times · 12d ago

Reliance Industries to evaluate impact of EU sanctions on Russian oil trade

Reliance Industries Ltd (RIL) is evaluating the impact of new EU sanctions on Russian oil and petroleum products, affecting Indian exports. These sanctions target petroleum products refined from Russian crude, impacting Indian refiners like RIL. India's crude imports from Russia total $50.3 billion. RIL is assessing the sanction definitions and potential impacts on exports to the EU, emphasizing diversification through markets in the US, Africa, Singapore, and the Middle East.

India's electronics manufacturing sector grapples with uncertainty over Trump's tariff threat

Economic Times

Economic Times · 4m ago

India's electronics manufacturing sector grapples with uncertainty over Trump's tariff threat

The article discusses the impact of potential tariff threats by former U.S. President Donald Trump on India’s electronics manufacturing sector. With reciprocal tariffs proposed, Indian exports to the U.S., particularly in electronics and smartphones, face challenges. While Apple and others have expanded manufacturing in India, new tariffs could increase costs and affect competitiveness. Experts suggest India may need to reduce import duties and strategize to maintain its position in global value chains.

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