Tariff

August 1, 2025 3:58 PM

Trump issues executive order formalising India’s tariff at 25 percent

As the deadline for tariffs neared, US President Donald Trump imposed the threatened tariff of 25 per cent on India starting Friday as the prolonged negotiations appeared to have stalled. His executive order, issued late Thursday, did not include penalty tariffs on buying Russian energy or for BRICS membership, which he had also threatened. When Trump initially threatened the 25 per cent tariff, India said it “will take all steps necessary to secure our national interest”. In the order se...

July 31, 2025 9:10 AM

US President Trump confirms India-US trade talks continue despite 25 per cent tariff threat

President Donald Trump has said that India and the US were still negotiating a trade deal despite his threat to impose a 25 per cent tariff, and a final decision may be known by the end of the week. "We're talking to India now, we'll see what happens," he said on Wednesday, hours after he had threatened the 25 per cent tariffs and the 100 per cent penalty for buyers of Russian energy he had proposed. He said that India, which he asserted has one of the highest tariffs in the world, was now "wil...

July 28, 2025 11:56 AM

US, China to launch new talks on tariff truce extension, easing path for Trump-Xi meeting

Top U.S. and Chinese economic officials will resume talks in Stockholm on Monday to try to tackle longstanding economic disputes at the centre of a trade war between the world's top two economies, aiming to extend a truce by three months and keeping sharply higher tariffs at bay. China is facing an August 12 deadline to reach a durable tariff agreement with President Donald Trump's administration, after Beijing and Washington reached preliminary deals in May and June to end weeks of escalating ...

July 9, 2025 9:25 AM

Trump says BRICS nations to get 10% tariff ‘pretty soon’

U.S. President Donald Trump said on Tuesday the U.S. would "pretty soon" charge a 10% tariff on imports from BRICS countries, drawing another complaintfrom Brazil PresidentLuiz Inacio Lula da Silva, who just hosted the bloc's annual summit. Trump, who raised the tariff threat on Sunday, said in a Tuesday cabinet meeting at the White House that the duty was on the way: "Anybody that's in BRICS is getting a 10% charge pretty soon ... If they're a member of BRICS, they're going to ...

July 7, 2025 12:07 PM

Trump says US nears trade deals as tariff deadline delayed

The United States is close to finalizing several trade pacts in coming days and will notify other countries of higher tariff rates by July 9, President Donald Trump said on Sunday, with the higher rates set to take effect on August 1. Since taking office, Trump has set off a global trade war that has roiled financial markets and sent policymakers scrambling to protect their economies, through efforts such as deals with the United States and other countries. In April Trump unveiled a base tarif...

July 4, 2025 12:48 PM

Trump eyes simple tariff rates over complex talks, says letters going out Friday

President Donald Trump said Washington will start sending letters to countries on Friday specifying what tariff rates they will face on imports to the United States, a clear shift from earlier pledges to strike scores of individual deals. Acknowledging the complexity of negotiating with over 170 nations, Trump told reporters before departing for Iowa on Thursday that the letters will be sent to 10 countries at a time, laying out tariff rates such as 20% to 30%. "We have more than 170 countries...

June 27, 2025 9:31 AM

Nike plans to reduce reliance on China production for US market to soften tariff blow

Nike said it would cut its reliance on production in China for the U.S. market to mitigate the impact from U.S. tariffs on imports, and forecast a smaller-than-expected drop in first-quarter revenue, sending its shares up 11% in extended trading. U.S. President Donald Trump's sweeping tariffs on imports from key trading partners could add around $1 billion to Nike's costs, company executives said on a post-earnings call after the sportswear giant topped estimates for fourth-quarter results. Ch...

April 9, 2025 10:48 AM

RBI revises FY25-26 GDP growth estimate to 6.5% amid tariff hurdles

India's real GDP growth forecast has been revised downwards to 6.5% for the current financial year 2025-26, from the earlier expectation of 6.7%, as highlighted by Reserve Bank of India (RBI) Governor Sanjay Malhotra during the policy announcement on Wednesday. The Governor noted that this growth projection follows a strong performance of 9.2% recorded in the previous financial year, 2024-25, as per figures released by the Ministry of Statistics and Programme Implementation (MOSPI). He said, "...

April 3, 2025 12:53 PM

Indian exporters to face fewer challenges as US tariffs take effect, say economists

As U.S. President Donald Trump mandates a 26 percent tariff on Indian goods, economists and industry experts believe that Indian exporters will face relatively fewer challenges compared to other major emerging markets in Asia. Among these economies, India’s tariffs remain the lowest, barring the Philippines. According to economic experts, India is expected to be less impacted by the tariffs due to its inward-focused economy, unlike export-driven nations such as China, Japan, Vietnam, and Sri ...

March 24, 2025 10:18 PM

Trump to impose 25% tariff on countries that buy oil, gas from Venezuela

U.S. President Donald Trump said on Monday that any country that buys oil or gas from Venezuela will pay a 25% tariff on any trades made with the United States. This "secondary tariff" will take effect on April 2, Trump said in a Truth Social post. Trump said he is imposing the move because, he said, Venezuela has sent "tens of thousands" of people to the United States who have a "very violent nature." Earlier this month, Trump issued a 30-day wind down of a license that the U.S. had granted t...