The government may prioritise targeted support for sectors such as textiles and chemicals, those expected to be severely affected by the new 50 per cent US tariffs, under its export promotion mission, industry sources said on Thursday.As per the news agency PTI, the matter was taken up during consultations held by the commerce ministry with…
President Donald Trump has hit India with a 50% tariff on its exports to the US, punishing New Delhi for continuing to buy Russian crude. He accuses India of “funding Russia’s war machine” and vows more penalties if Prime Minister Narendra Modi doesn’t halt oil imports from Moscow.This follows Trump’s prior 25% tariff on Indian…
Facing the Trump squeeze, India is already recalibrating its foreign relations. US President Donald Trump has imposed a 50% tariff on Indian imports, accusing India of funding Russia’s war on Ukraine through its continued oil purchases. The shock escalation, delivered via executive order, represents the steepest tariff the US has ever placed on a major…
Modi’s discussions with Lula have gained additional importance following Trump’s implementation of 50% tariffs. (File photo) Prime Minister Narendra Modi is scheduled to talk to Brazil’s President Luiz Inacio Lula da Silva on Thursday and plans to visit China in August for the first time since 2018, amid deteriorating relations with the United States.Brazilian President…
New data for jobless benefits shows that the number of American citizens filing for unemployment benefits rose modestly last week, showing that employers are still retaining workers despite looming uncertainty on the US trade policy.The number of Americans filing for jobless support rose by 7,000 last week to 226,000, according to figures released by the…
US President Donald Trump imposed an additional 25% tariff on Indian imports on the top of an already existing 25% duty, pushing the total to 50%. These high tariffs, announced on August 6, would take effect from August 27.The pharmaceutical sector, however, received a temporary exemption from the tariff hike, highlighting India’s crucial role in…
US President Donald Trump’s sweeping “reciprocal” tariffs officially came into effect just after midnight on Thursday, hitting exports from over 60 countries and the European Union with higher import duties.The move marks a significant escalation in Trump’s aggressive trade policy, aimed at penalising nations he claims have taken “unfair advantage of the US.” “IT’S MIDNIGHT!!!…
US President Donald Trump on Wednesday announced a steep 100% tariff on imported computer chips and semiconductors, a move that could lead to higher prices for electronics, cars, appliances, and other tech-driven products.Speaking at the Oval Office alongside Apple CEO Tim Cook, Trump said, “We’ll be putting a tariff of approximately 100% on chips and…
The recent hike in US tariffs on Indian imports could severely impact labour-intensive and manufacturing sectors in India, posing a risk to the country’s economic growth if the 50% duty continues, experts warned.They said the steep tariffs not only risk slowing exports and investment but also add pressure on the rupee, raising concerns for the…
Donald Trump has declared the implementation of a ‘secondary tariff’ on Indian imports to the US. (AI image) US President Donald Trump has announced a secondary or additional tariff on India for its crude oil trade with Russia. During his second presidential term, Donald Trump has wielded tariffs extensively to achieve various objectives: from enhancing…
