In a major development, US President Donald Trump announced on April 9 a 90-day ‘pause’ on reciprocal tariffs for all but China. “Based on the lack of respect that China has shown to the World’s Markets, I am hereby raising the Tariff charged to China by the United States of America to 125%, effective immediately. … Read more
The global economy appeared to be in open rebellion against President Donald Trump‘s tariffs as they took effect Wednesday. Business executives are warning of a potential recession caused by his policies, some of the top US trading partners are retaliating with their own import taxes and the stock market is quivering after days of decline. … Read more
The European Union finally took the tariff war to Trump on April 9, announcing the first set of counter-measures in response to the US President’s aggressive unsettling of world trade. European retaliation will now affect over 20 billion euros worth of American goods such as soybeans, motorcycles, and beauty products, according to a European Commission … Read more
US President Donald Trump says he will soon announce “major” tariffs on imported pharmaceuticals, a move that could end decades of low-cost global trade in medicines. For years, most countries, including the US, have imposed few or no tariffs on finished drugs, thanks in part to a 1995 World Trade Organisation (WTO) agreement aimed at … Read more
Luxembourg: The European Union said on Monday it would start collecting retaliatory duties on some imported US goods next week, as EU trade ministers agreed they preferred negotiations to remove tariffs imposed by President Donald Trump over retaliation. The 27-nation bloc faces 25% import tariffs on steel and aluminium and cars and “reciprocal” tariffs of … Read more
President Donald Trump‘s reciprocal tariffs and retaliatory moves the EU and China have plunged the world into an internecine trade war, sending tremors through markets as well as worrying businesses, consumers and governments. Trump dubbed April 2, the day he announced the reciprocal tariffs as “Liberation Day”, promising short-term pain but long-term gain for the … Read more
Jaguar Land Rover, the British luxury automaker, said Saturday that it was pausing shipments to the United States in April, days after President Donald Trump‘s auto tariffs went into effect. The company, which makes luxury cars that include Jaguars, Defenders and Range Rovers, does not have manufacturing facilities in the United States and exports all … Read more
After a brief return of optimism in March, foreign institutional investors (FIIs) reversed course and turned net sellers in early April, rattled by a sudden escalation in global trade tensions. The trigger came on April 2, when U.S. President Donald Trump announced steep reciprocal tariffs, prompting a sharp correction in global equity markets and reigniting … Read more
Pashupati Advani, Founder, Global Foray, says we will see positive surprises in companies which have a lower tariff than people expect. The second thing that will happen is if there is any kind of misbalancing and arbitrage opportunity in the tariffs, companies that are able to take advantage of that will be winners. Whoever moves … Read more
A file image is used for representational purpose only. | Photo Credit: Reuters India is open to cutting tariffs on more than half of U.S. imports worth $23 billion in the first phase of a trade deal the two nations are negotiating, two government sources with knowledge of the matter said, the biggest cut in … Read more