U.S. tariff hikes

November 6, 2024 8:26 PM

US stock futures, dollar and bitcoin surge as Trump wins race to White House

Major stock markets around the world rallied on Wednesday, while bitcoin hit a record high and the dollar was set for its biggest one-day jump in four years as Donald Trump was elected U.S. president. Small cap U.S. stocks in particular were boosted by expectations that a Trump presidency would offer tax cuts and support domestic companies. Though bond investors dumped long-dated Treasuries, betting that accompanying tariff hikes would increase the deficit and inflation, causing the Federal Re...

September 20, 2024 11:03 AM

India’s trade deficit widens in August amid decline in crude oil exports: CRISIL report

India's trade deficit widened in August, primarily due to a decline in oil exports caused by falling crude prices, according to a recent report by CRISIL. The report highlights that the drop in crude oil prices, a key export commodity for India, has significantly impacted the country's overall export performance. Petroleum products remain a major component of India’s exports, with key destinations including the Netherlands, Singapore, Australia, and South Africa, as per Ministry of Commerce d...

May 14, 2024 8:34 PM

China strongly opposes U.S. tariff hikes, pledging measures to defend rights

China strongly opposed the United States' tariff hikes, its commerce ministry said on Tuesday, vowing it will take resolute measures to defend its rights and interests. "U.S. raising Section 301 tariffs violates President Biden's commitment to 'not seek to suppress and contain China's development' and 'not to seek to decouple and break links with China'," said a statement by the ministry, adding the move will "seriously affect the atmosphere of bilateral cooperation." U.S. President Joe Biden ...