A US lawmaker has criticized President Donald Trump's tariff policy on India for purchasing Russian oil, urging him to reverse it immediately.
Trump administration will use "alternative legal authorities" to enforce tariffs on the countries, assuring that the tariff revenue will remain unchanged.
India will now face a lower reciprocal tariff of 10 per cent, down from 25 per cent, after US President Donald Trump announced a new global levy on items imported into America in the wake of the Supreme Court verdict against his sweeping duties on several nations.
US President Donald Trump asserted that the trade deal with India remains intact despite a Supreme Court ruling against his tariffs, while also claiming he used tariffs to stop a war between India and Pakistan.
The official also advised all the trade partners to abide by the trade deals. The new 10 percent global tariff is part of Trump's protectionist trade agenda, aimed at addressing balance-of-payments issues and unfair trade practices.
India and the US have agreed to a trade deal that will see Washington reduce reciprocal tariffs on Indian goods from 25% to 18%, according to US President Donald Trump. The deal also includes commitments from India to reduce tariffs and non-tariff barriers against the US and to increase purchases of American products.
United States President Donald Trump on Saturday threatened to impose tariffs on Denmark and several European countries unless they agree to sell Greenland to the United States, framing the move as a national security imperative amid Chinese and Russian interest in the territory.
India's marine product exports facing rough weather from punitive US tariffs are expected to get a big boost following the reduction of 26 per cent tariff as part of the India-EU Free Trade Agreement (FTA), but concerns over non-tariff barriers, which are a dominant aspect of marine trade to the EU, still remain.
He said that the US is financially and from a national security standpoint 'far stronger' and more respected than ever before because of tariffs.
Hotel room rates in Ahmedabad have increased significantly ahead of the India-New Zealand T20 World Cup final, with some tariffs rising by 300-400%. The surge is driven by high demand from cricket fans travelling to the city for the match.
Hotel room rates in Ahmedabad have increased significantly ahead of the India-New Zealand T20 World Cup final, with some tariffs rising by 300-400%. The surge is driven by high demand from cricket fans travelling to the city for the match.
The Congress has strongly criticised the US government's temporary waiver allowing India to purchase Russian oil, raising concerns about continued 'American blackmail' and its impact on India's energy policy.
After the US Supreme Court struck down President Donald Trump's global tariffs, Congress leader Rahul Gandhi accused Prime Minister Narendra Modi of being "compromised", saying his "betrayal" in the India-US interim trade deal stood exposed.
US President Donald Trump announced a new global levy on imported items, resulting in a lower tariff rate for India, following a Supreme Court verdict against his previous sweeping tariffs.
Donald Trump claims his use of tariffs prevented a nuclear war between India and Pakistan, a claim India has repeatedly refuted.
Trump announced that India and the US agreed to a trade deal under which Washington will charge a reduced reciprocal tariff on Delhi, lowering it from 25 per cent to 18 per cent.
Modi also said that President Trump's leadership is vital for global peace, stability, and prosperity.
The government on Wednesday put out the draft of a new policy that projects the country's power sector will need Rs 50 trillion in investments by 2032 and Rs 200 trillion by 2047, proposing ambitious reforms in generation, transmission and distribution.
The court made the remarks while reviewing a petition from Tamil Nadu Power Distribution Corporation Ltd. regarding free electricity distribution policies.
The Congress attacked the Modi government, saying it now seems to be routine that India learns about its government's actions only from Trump or his appointees.
In the wake of the FTA between India and the European Union, the United States has described the Europeans as 'very disappointing', saying they were unwilling to join Washington, DC in putting tariffs on New Delhi for its purchases of Russian oil because of this trade deal.
United States President Donald Trump on Friday announced that his administration will impose a 100 per cent tariff on branded and patented pharmaceutical products beginning October 1, 2025, unless the manufacturing companies are building production facilities in the US.
A bewildered world is at a loss to find bilateral and multilateral measures to stop President Trump from pursuing his vision of a world unabashedly dominated by the United States, points out T P Sreenivasan.
Congress leader Rahul Gandhi on Tuesday alleged that Prime Minister Narendra Modi buckled under United States pressure to finalise a trade deal and 'sold off' the hard work of Indian farmers through the agreement.
The Kremlin states it has not received confirmation from India regarding a halt to Russian oil purchases, following claims made by former US President Donald Trump. Russia affirms its commitment to strengthening relations with India.
For both polishing unit operators and diamond merchants, the US is still the biggest export destination: Three in every 10 diamonds polished in India end up in American stores.
Seeking foreign loan had forced Pakistan to 'bow' its head and make compromises at the 'cost of self-respect', Prime Minister Shehbaz Sharif has said in a candid admission about the humiliation involved in approaching 'friendly countries' for financial aid.
"I understood tariffs better than any human being in the world. And now with my tariffs, they were all dropping them. India was the most highly tariffed nation... And you know what, they've offered me no tariffs in India anymore. No tariffs," Trump said.
"India was charging us tremendous tariffs, about the highest in the world," Trump said adding that the US was therefore not doing much business with India.
'President Trump believes in reciprocity and it is about time that we have a president who actually looks out for the interests of American businesses and workers'
Talks on the proposed trade deal between India and the United States will resume after the year-end holidays, coinciding with Sergio Gor -- a close aide of American President Donald Trump -- taking charge as the US Ambassador to India in early January, according to a person privy to the development.
Finance Minister Nirmala Sitharaman on Sunday makes history as she presents a record ninth consecutive Budget that is expected to unveil measures to sustain growth momentum, maintain fiscal discipline, and contain reforms that could buffer the economy from global trade frictions, including US tariffs.
The White House has said India imposes a 100% tariff on American agricultural products and the high levies charged by other countries make it "virtually impossible" for US products to be exported to those nations. President Donald Trump has repeatedly criticised the high tariffs charged by India and other countries on American goods. He plans to roll out a set of reciprocal tariffs on April 2, which he says will be "Liberation Day" for the US.
"India and everybody would think of them as an ally. I can say the same for others. But this is a group of wonderful nations that is countering other countries that look to hurt us on trade," he added.
Donald Trump's tariffs, meant as political punishment, have avoided the predicted chaos, lifting US growth, weakening rivals, and letting him claim victory in a resilient global economy, observes T T Ram Mohan.
Brave statements such as we will continue to be the fastest growing large country are of no consolation, because the direction of trade also determines the flow of investment, points out M Govinda Rao.
In a significant change to regulations, oil and gas regulator PNGRB has proposed a new policy of how tariffs for pipelines carrying gas to users will be determined, and proposed charging city gas entities selling CNG and piped cooking gas to households at the lowest rates.
India is already negotiating a bilateral trade agreement with the US. The two countries are aiming to finalise the first phase of the pact by fall (September-October) of this year.
The additional 25 per cent duty will come into effect after 21 days or August 27.
India's manufacturing sector activity eased to a nine-month low in November, mainly owing to softer rise in sales and production amid reports of challenging market conditions, a monthly report said on Monday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) falling to 56.6 in November from 59.2 in October, highlighted the slowest improvement in operating conditions since February.
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