TRUMP TARIFF DEAL IMPLICATIONS
Potus undoes some knots in ties; PM Modi responds in kind
Despite recent trade tensions, Prime Minister Modi and President Trump express mutual appreciation for the India-US partnership. Trump acknowledges their "special relationship," even while expressing disappointment over India's oil imports from Russia and imposing tariffs. Modi reciprocates Trump's positive assessment, emphasizing the forward-looking nature of their strategic alliance, signaling a potential thaw in relations.
US reciprocal tariffs: Donald Trump signs order granting exemptions to some goods
India’s exports of the newly-exempt 50-odd items amount to about $20 million annually. The products include highly specialised: nitrile compounds used in pharmaceuticals and agrochemicals; nickel waste and scrap recycled into stainless steel and batteries; lidocaine, a local anaesthetic; nick el powders for catalysts and 3D printing; nickel flakes used in conductive coatings; and high-purity precious metal articles used as bullion and inelectronics.
Trump signs order offering some tariff exemptions to countries with US trade deals
President Trump signed an executive order to offer tariff exemptions to trading partners who secure deals on industrial exports like nickel, gold, pharmaceuticals, and chemicals. This move aims to reorder the global trading system and extract concessions through reciprocal trade agreements. The exemptions, effective Monday, cover items not sufficiently produced in the U.S.
India will be at negotiating table 'in a month or two': US Commerce Secretary Howard Lutnick
US Commerce Secretary Howard Lutnick suggests India will eventually seek a deal with Donald Trump, despite current tensions over Russian oil purchases. Lutnick criticized India's increased reliance on discounted Russian oil and its role in BRICS, urging New Delhi to align with the US. He believes economic realities will compel India to prioritize its relationship with the American consumer.
Trump's advisor Navarro needles India once again
Peter Navarro, trade advisor to Donald Trump, is stirring controversy by supporting tariffs on foreign remote workers, potentially impacting India's IT services exports. This move resonates with Trump's "America First" agenda, targeting Indian tech workers and outsourcing. While formal tariffs may be challenging, non-tariff barriers could be employed, posing a threat to India's $250+ billion IT industry.
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Lutnick says Trump has 'complete discretion' over Japanese investment funds
U.S. Commerce Secretary Howard Lutnick announced that a new U.S.-Japan tariff agreement grants President Trump "complete discretion" over $550 billion in Japanese investments in the U.S. Japan pledged these investments to reduce U.S. tariffs on its goods to 15%. Lutnick suggested the funds could support domestic generic antibiotic production or the construction of a new Alaska pipeline.
Supreme Court ruling on IEEPA could reshape US tariff strategy
The US-Japan auto tariff cut and potential easing of semiconductor duties signal shifting trade policy, but Jahangir Aziz warns deeper uncertainties loom with IEEPA under judicial review. He highlights risks for global trade, India’s cautious stance, and temporary boosts from GST reforms and consumption measures.
Trump signs order to lower US tariffs on Japan autos to 15%
Donald Trump, the US President, signed an order. This order lowers tariffs on Japanese autos. Japanese autos will now face a 15-percent tariff. Earlier, it was 27.5 percent. Many other goods will also have a 15-percent cap. This is a win for Japan. The changes apply retroactively to goods shipped from August 7.
Asia export hubs show robust activity despite Trump tariffs
Trade deals, central bank easing, and domestic growth are helping to insulate Asian economies, leading to upgraded growth forecasts and optimistic investor sentiment.
Trump pressures European leaders over Russian oil purchases, White House official says
President Trump, in a combative call with European leaders and Zelenskiy, urged Europe to halt Russian oil purchases, accusing them of funding Moscow's war in Ukraine. He also pressed Europeans to exert economic pressure on China for supporting Russia's war efforts. Trump questioned the seriousness of security guarantees for Ukraine while European nations continue to fuel Russia's economy.
Trump says US would be on 'brink of economic catastrophe' unless justices rule his tariffs are legal
Donald Trump's administration urgently appealed to the Supreme Court to uphold his tariffs, claiming their removal would devastate the U.S. economy. Solicitor General D. John Sauer requested an expedited decision, emphasizing the tariffs' role in promoting peace and economic prosperity, and combating issues like fentanyl and the Russia-Ukraine conflict.
Imposed tariffs against India for purchasing Russian energy products: Trump admn tells Supreme Court
The Trump administration has imposed tariffs on India for buying Russian energy. These tariffs are a response to Russia's war in Ukraine. The US Supreme Court is reviewing the legality of these tariffs. The administration argues they are crucial for peace and economic prosperity. India views the tariffs as unjustified and is taking steps to protect its interests.
GST cuts positive, but Trump’s tariffs could offset gains: Saurabh Mukherjea
India’s economy has received a significant boost with the government’s latest GST reforms, aiming to revitalize consumption, which accounts for roughly 60% of the country’s GDP. Experts, however, caution that external and domestic headwinds could offset the gains.
Japan, US near deal to bring lower auto tariffs into effect: Source
Japan and the United States are nearing a deal on reducing tariffs on Japanese cars. The U.S. may lower the tariff from 27.5% to 15% soon. Trade negotiator Ryosei Akazawa is in Washington to push for the executive order. The deal includes Japan's plans to increase U.S. rice imports and buy U.S.-made aircraft.
Trump administration asks Supreme Court to quickly take up tariffs case after appeals court loss
The Trump administration has approached the Supreme Court regarding tariff powers. They are seeking a quick ruling on the president's authority to impose trade penalties. This appeal follows a lower court ruling against the tariffs. Small businesses claim economic hardship due to these tariffs. The government warns that striking down tariffs could impact ongoing trade negotiations.
US tells countries to reject UN ship fuel emissions deal or face tariffs, sources say
The United States is warning nations against backing a United Nations' plan to cut marine fuel emissions. Washington threatens tariffs, visa restrictions, and port levies for countries supporting the deal. The US government opposes the agreement. It believes the measures will burden the shipping industry. The Netherlands confirms receiving a warning. The International Maritime Organization aims to reduce shipping emissions.
Trump begins to feel the heat for India bullying
Donald Trump's handling of US-India relations is facing intense criticism from both domestic and international circles, jeopardizing a long-standing bipartisan partnership. His imposition of tariffs, alignment with Pakistan due to personal business interests, and perceived disregard for India's strategic importance are raising alarms.
Google adtech fine on hold as EU awaits lower US car duties, sources say
EU antitrust regulators delayed fining Google over adtech practices while awaiting a US-EU trade deal on car tariffs. The fine, expected soon, was postponed amid political sensitivity, with concerns about independence of enforcement.
India-US discussing bilateral trade agreement, Piyush Goyal says
India and the US are engaged in discussions regarding a bilateral trade agreement, despite recent tariff hikes imposed by Washington in response to New Delhi's continued purchases of Russian oil. While India hopes to resume negotiations and address the tariff issues, the US has requested tariff cuts on various agricultural products, which India opposes due to concerns about its farmers.
SCO Summit optics misleading; China still a strategic rival, warns Swaminathan Aiyar
Donald Trump's claim about India agreeing to reduce tariffs to "almost nothing" has been dismissed by economist Swaminathan Aiyar as unpredictable rhetoric. Aiyar argues that Trump's tariff war is more about geopolitics, stemming from India's stance on Russia and oil imports. Despite external pressures, India's economy shows resilience, with GDP growth surpassing expectations, indicating a capacity to withstand tariff pressures.
Trump tariffs ruled 'illegal' by court: What happened, why it matters, and what comes next as POTUS calls it 'total disaster'
Trump Tariffs News: A federal appeals court has ruled that many of President Trump's global tariffs were illegally issued, challenging his economic agenda and raising questions about presidential power. The court found Trump exceeded his authority under the International Emergency Economic Powers Act.
US still working on trade deals despite court ruling, USTR says
Despite a U.S. appeals court ruling against most of President Trump's tariffs, the administration is continuing trade talks with partners, according to U.S. Trade Representative Jamieson Greer. Greer noted that countries are proceeding with deals regardless of the court's decision.
What soured PM Modi-Trump ties: A phone call, a ceasefire claim and a Nobel Peace prize, says NYT
A New York Times report traces a sharp downturn in India US ties to a 17 June call where US President Donald Trump claimed he had ended India Pakistan hostilities and raised a possible Nobel Peace Prize nomination. Prime Minister Narendra Modi pushed back, saying the ceasefire was arranged directly by New Delhi and Islamabad. The fallout widened into tariffs of up to 50 per cent on Indian goods, stalled trade talks, and fresh irritants on visas and deportations. Both sides have since kept their distance.
US appeals court rules Trump's tariffs illegal, setting stage for Supreme Court battle
A US appeals court has deemed most of Donald Trump's tariffs illegal, challenging his key economic policy. The court allowed a temporary stay until October 14 for a potential Supreme Court appeal. This decision, alongside a legal battle over Federal Reserve independence, sets up a major legal showdown over Trump's economic policies, impacting trade relations and financial markets.
'Total disaster for country': Trump slams US appeals court after ruling against tariffs
Donald Trump has criticised a federal appeals court ruling against his emergency tariffs, calling it a "total disaster" for the country. He insists the tariffs are vital for protecting American workers and reducing trade deficits, warning that their removal would devastate the US. The court’s decision challenges Trump’s authority to unilaterally reshape trade policy and could potentially require billions in refunds.
US appeals court finds Trump's sweeping tariffs unconstitutional but leaves them in place for now
A US appeals court decided that President Donald Trump did not have the power to impose widespread tariffs. The court largely supported a previous decision. It stated Trump could not declare national emergencies to tax imports from almost every country. However, the court allowed the administration time to appeal to the Supreme Court. This complicates Trump's trade policy plans.
What happens to Trump's tariffs now that a federal appeals court has knocked them down?
A federal appeals court has challenged President Trump's authority to unilaterally impose sweeping tariffs on foreign products by declaring national emergencies. The court's ruling limits Trump's ability to bypass Congress in trade policy, potentially impacting his negotiating strategy and raising concerns about financial repercussions for the U.S. Treasury. Trump vows to fight the decision in the Supreme Court.
Donald Trump tariffs are illegal, rules American court. Will U.S. import taxes be cancelled and refunded soon?
Donald Trump's tariffs — and the erratic way he’s rolled them out — have shaken global markets, alienated U.S. trading partners and allies and raised fears of higher prices and slower economic growth.
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