US tariffs

March 12, 2025 12:28 PM

Trump’s steel, aluminum tariffs take effect as global trade war intensifies

President Donald Trump's increased tariffs on all U.S. steel and aluminum imports took effect on Wednesday, stepping up a campaign to reorder global trade norms in favor of the U.S. that drew swift retaliation from Europe. Trump's action to bulk up protections for American steel and aluminum producers restores effective global tariffs of 25% on all imports of the metals and extends the duties to hundreds of downstream products made from the metals, from nuts and bolts to bulldozer blades and so...

February 18, 2025 12:35 PM

US tariffs on steel sector unlikely to impact India materially: Crisil

The US tariffs on the steel sector are unlikely to impact India significantly, as only 2 percent of the country’s total finished steel exports in the first nine months of this fiscal year were to the US, according to Crisil Intelligence. The US has decided to impose a flat 25 percent tariff on steel imports from March 12, replacing the previous system of multiple lesser levies. This change is expected to have a three-fold impact. “Firstly, it will reduce the exports of its trade partners a...

February 8, 2025 3:14 PM

RBI hints further steps to ensure liquidity, US tariff uncertainties to cool off soon

The Reserve Bank of India (RBI) has always focused on ease of credit and will take further steps to ensure that enough liquidity remains in the banking system as there is "room for improvement", Governor Sanjay Malhotra said on Saturday, adding that US-related tariff uncertainties will cool off in the coming months. Addressing the media along with Union Finance Minister Nirmala Sitharaman in the national capital, Malhotra also said the central bank is not targeting any price band for the rupee ...

February 4, 2025 5:05 PM

China hits back with tariffs on US goods after Trump imposes new levies

China on Tuesday imposed tariffs on some U.S. imports in swift retaliation to new U.S. duties on Chinese goods, escalating the trade conflict between the world's two largest economies, even as President Donald Trump offered reprieves to Mexico and Canada. The additional 10% tariff across all Chinese imports into the U.S. went into effect at 12:01 a.m. ET on Tuesday (0501 GMT) after Trump repeatedly warned Beijing that it was not doing enough to halt the flow of illicit drugs into the United Sta...

December 16, 2024 11:30 AM

China’s fragile recovery: industrial gains, sluggish retail, and stimulus pressure as U.S. tariffs loom

China's industrial output growth quickened slightly in November, while retail sales disappointed, keeping pressure on Beijing to ramp up stimulus for a fragile economy as it braces for more U.S. trade tariffs under a second Trump administration. The mixed set of data underlines the challenges facing Chinese leaders heading into 2025 when trade relations with the United States could worsen at a time when domestic consumption also remains weak. "China's economy appears to have slowed last month,...

May 14, 2024 3:34 PM

Biden sharply hikes US tariffs on Chinese imports

U.S. President Joe Biden on Tuesday unveiled a bundle of steep tariff increases on an array of Chinese imports including electric vehicles, computer chips and medical products, risking an election-year standoff with Beijing in a bid to woo voters who give his economic policies low marks. Biden will keep tariffs put in place by his Republican predecessor Donald Trump while ratcheting up others, the White House said in a statement citing "unacceptable risks" to U.S. "economic security" posed by w...