US tariffs

August 1, 2025 3:11 PM

India’s export loss due to higher US tariffs limited to 0.3 to 0.4 pc of GDP: Report

The direct export loss from the higher US tariffs announced on Indian exports could be limited to around 0.3-0.4 per cent of its GDP as the country’s largely domestic-driven economy and its relatively low share of goods exports to the US should provide some cushion, according to a CareEdge Ratings report released on Friday. "Not only is India’s overall export dependence relatively low, but its merchandise export exposure to the US is also low at around 2 per cent of GDP, offering additional...

July 7, 2025 12:55 PM

Oil tumbles as OPEC+ hikes August output more than expected

Oil prices slipped on Monday after OPEC+ surprised markets by hiking output more than expected in August, while uncertainty over U.S. tariffs and their potential impact on global economic growth weighed on demand expectations. Brent crude futures LCOc1 fell 24 cents, or 0.35%, to $68.06 a barrel by 0642 GMT, while U.S. West Texas Intermediate crude CLc1 was at $66.31, down 69 cents, or 1.03%. The Organization of the Petroleum Exporting Countries and their allies, a group known as OPEC+, agreed...

June 26, 2025 2:49 PM

EU leaders meet to decide on whether to back quick US trade deal or seek better terms

European Union leaders are to tell the European Commission on Thursday whether they want to reach a quick trade agreement with the United States on terms that favour Washington or keep fighting for a better deal. A quick deal seems to be the preferred option for most, officials and diplomats said, as the EU can then seek to address the unfavourable bias with some rebalancing measures of its own. "I support the Commission, I support the President of the European Commission in her endeavours to ...

May 2, 2025 1:19 PM

China ‘evaluating’ US offer to talk tariffs; warns against ‘extortion’

Beijing is "evaluating" an offer from Washington to hold talks over U.S. President Donald Trump's 145% tariffs, China's Commerce Ministry said on Friday, although it warned the United States not to engage in "extortion and coercion." Washington and Beijing have been locked in a cat-and-mouse game over tariffs, with both sides unwilling to be seen to back down in a trade war that has roiled global markets and upended supply chains. The Commerce Ministry said the United States has approached Chi...

April 25, 2025 5:09 PM

China exempts some goods from US tariffs to limit trade war pain

China has exempted some U.S. imports from its 125% tariffs and is asking firms to identify critical goods they need levy-free, according to businesses notified, in the clearest sign yet of Beijing's concerns about the trade war's economic fallout. The dispensation, which follows de escalatory statements from Washington, signals that the world's two largest economies were prepared to rein in their conflict, which had frozen much of the trade between them, raising fears of a glob...

April 23, 2025 11:16 AM

IMF slashes global outlook as White House says trade talks pick up pace

Worldwide economic output will slow in the months ahead as U.S. President Donald Trump's steep tariffs on virtually all trading partners begin to bite, the International Monetary Fund said on Tuesday, as global finance chiefs swarmed Washington seeking deals with Trump's team to lower the levies. Indeed, the pace of negotiations was brisk, White House press secretary Karoline Leavitt said, with 18 different countries offering proposals so far and Trump's trade negotiating team set to meet with ...

April 17, 2025 10:43 AM

The Domino Effect of U.S. Tariffs: Why the World Can’t Ignore Trump’s Tariff War

President Donald Trump’s latest tariff salvo has ignited a fierce global trade war, slapping a 10% baseline tariff on all U.S. imports, with steeper "reciprocal" duties of 104% on China, 49% on Cambodia, 46% on Vietnam, and 20% on the EU, targeting trade surpluses and alleged unfair practices. Once considered allies, countries like Canada face 25% tariffs, prompting swift retaliation and fears of economic fallout. Trump defends the moves as vital for national security and American jobs where t...

April 11, 2025 1:30 PM

“US has fundamentally changed its global engagement approach,” says EAM Jaishankar

External Affairs Minister S. Jaishankar on Friday said the United States has undergone a fundamental shift in the way it engages with the world over the past year, with technology emerging as a central driver of that transformation. Addressing the Carnegie Global Tech Summit 2025 in New Delhi, Jaishankar said: "US has fundamentally changed its approach to engaging the world, and it has consequences across every domain but the tech consequences, I believe, would be particularly profound, and it ...

April 9, 2025 5:01 PM

India aims to finalise trade deal with US by fall 2025: EAM Jaishankar

External Affairs Minister S. Jaishankar on Wednesday said that India is working towards finalizing a bilateral trade agreement (BTA) with the United States by the fall of 2025 — making it the only country to have reached such an understanding with the US under President Donald Trump’s second term. Speaking at the News18 Rising Bharat Summit in New Delhi, Jaishankar said the two nations had agreed early on to constructively engage on trade issues and aim for a comprehensive agreement. “Wha...

April 7, 2025 3:02 PM

What measures are Asian policymakers taking as market rout deepens?

Policymakers cross Asia are preparing measures to support financial markets as a rout deepened following sweeping tariffs announced by U.S. President Donald Trump that stoked widespread recession worries. Here are some of the announcements so far: CHINA China's sovereign fund Central Huijin Investment said it was increasing holdings in China stocks, and would defend market stability, as the local market tumbled amid fears a widening trade war would unleash a deep recession. It is "firmly opt...