Trump tariffs

April 15, 2025 8:53 AM

Asia shares rise, bonds hold steady on some tariff reprieve

Asia shares edged slightly higher on Tuesday, helped by gains in auto companies after U.S. President Donald Trump suggested he might grant exemptions on auto-related levies already in place. U.S. Treasury bonds steadied having staged a recovery overnight following last week's historic selloff, while the dollar continued to fall out of favour with investors. Trump said on Monday he was considering a modification to the 25% tariffs imposed on foreign auto and auto parts imports from Mexico, Cana...

April 11, 2025 4:10 PM

Impact of tariffs on developing countries could be ‘catastrophic’, says UN trade agency

Sweeping tariffs on imports imposed by U.S. President Donald Trump and countermeasures could have a "catastrophic" impact on developing countries, hitting even harder than foreign aid cuts, the director of the United Nations trade agency said on Friday. Global trade could shrink by 3-7% and global gross domestic product by 0.7%, with developing countries the worst affected, the International Trade Centre said. "It is huge," Pamela Coke-Hamilton, executive director of the International Trade Ce...

April 10, 2025 9:58 AM

Trump pauses tariffs on countries like India that did not hit back

US President Donald Trump on Wednesday announced a 90-day pause in reciprocal tariffs for trading partner countries that have not retaliated with higher levies on American goods — such as India — and further hiked the levy on China to 125 per cent for hitting back. India has not retaliated to the 26 per cent levy by Trump and has engaged the administration in negotiations, like nearly 70 other countries. Indian External Affairs Minister S. Jaishankar and Secretary of State Marco Rubio on Mo...

April 9, 2025 10:47 AM

Trump mocks tariff-hit nations, announces upcoming pharma tariffs

US President Donald Trump took aim at nations impacted by tariffs on Tuesday, mocking their desperate attempts to negotiate with him. Speaking at the National Republican Congressional Committee, Trump boasted about his superior negotiating skills, claiming that countries hit by tariffs were eager to strike deals with the United States. "They are dying to make a deal—'please sir make a deal, I'll do anything, I'll do anything sir,'" Trump said, emphasizing his confidence in handling internatio...

April 9, 2025 11:11 AM

RBI cuts repo rate by 25 bps to 6% amid deepening global trade war

The Reserve Bank of India (RBI) on Wednesday cut the repo rate by 25 basis points, reducing it from 6.25 per cent to 6 per cent, in a bid to support the economy amid growing global headwinds stemming from sweeping tariffs and retaliatory duties imposed by US President Donald Trump on several countries, including India. Announcing the decision after the MPC's three-day meeting held on April 7, 8, and 9, RBI Governor Sanjay Malhotra stated, "After a detailed assessment of the evolving macroecon...

April 9, 2025 9:36 AM

US President Trump warns reprieve for pharmaceuticals, major Indian export, to end ‘shortly’

US President Donald Trump has warned that the reprieve for pharmaceuticals – a major Indian export – from his repressive retaliatory tariffs would end soon. “We're going to be announcing very shortly a major tariff on pharmaceuticals”, he said on Tuesday night shortly before his levies on most US imports were to come into force. He mentioned China in his speech at a dinner of the National Republican Congressional Committee in Washington, but no India, which sends 31.5 per cent of its e...

April 4, 2025 4:18 PM

Sensex, Nifty tank as Trump tariffs rattle global markets

Indian stock markets on Friday ended in the red for the second day in a row, as investors turned cautious after US President Donald Trump’s reciprocal tariffs announcement. The Sensex fell by 930.67 points, or 1.22 percent, to close at 75,364.69. During the day, the index moved between an intra-day high of 76,258.12 and a low of 75,240.55. The broader Nifty also dropped sharply and settled at 22,904.45, down by 345.65 points, or 1.49 percent during the intra-day trade. "The recent implement...

April 3, 2025 6:54 PM

Southeast Asian nations, among hardest-hit by Trump tariffs, seek talks

Southeast Asian nations reeled on Thursday as they were hit with some of President Donald Trump's heftiest tariffs, which now threaten the economies that have benefited from investment since he imposed levies on China during his first term. Vietnam, slapped with 46% tariffs, said it would set up a task force and Thailand's prime minister said she would pursue negotiations to try to reduce the 37% rate her country faces - far greater than the 11% it had expected. Both countries are heavy export...