Indian exporters are unlikely to receive direct tariff refunds from the US's $166 billion payout, but the rollback of reciprocal duties is enhancing their pricing power and improving order prospects, particularly in textiles, apparel, and engineering goods.
These new tariffs were imposed by Trump on all countries, including India, on February 24 for 150 days following a Supreme Court verdict that struck down his earlier sweeping levies.
Vodafone Idea CEO Abhijit Kishore stated that the company will implement minor corrections to existing mobile tariffs, but does not plan an across-the-board hike in rates, driven by current market conditions.
Despite a sharp increase in import duties on gold and silver to 15 per cent, the precious metals are trading at significant discounts in the domestic market, with gold seeing discounts of up to $200 an ounce and silver up to $6 an ounce.
American industry groups sought punitive tariffs on Indian goods at USTR hearings, while Indian officials defended the country's manufacturing growth as demand-led and WTO-compliant.
Hours after ceasefire, US President Donald Trump on Wednesday warned against any country supplying military weapons to the Islamic Republic, stating that he would impose a 50 percent tariff on all goods exported to the United States.
'The contours of the trade deal need to be reworked now.'
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.
Finance Minister Nirmala Sitharaman stated that it is premature to comment on the tariff changes announced by the United States, adding that the commerce ministry is currently reviewing the situation.
In a major setback to Trump's pivotal economic agenda for his second term, the US Supreme Court, in a 6-3 verdict written by Chief Justice John Roberts, ruled that the tariffs imposed by the president on nations around the world were illegal.
The ruling is expected to have wide-ranging consequences for global trade, businesses, consumers, inflation trends and household finances across the country.
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.
Commerce and Industry Minister Piyush Goyal announced that a US team is expected to visit India next month for trade talks, following an earlier Indian delegation's visit to Washington, DC, in April to finalise an interim pact and advance negotiations for a broader bilateral trade agreement.
Following a Supreme Court setback, Donald Trump has announced an increase in global tariffs from 10% to 15%, impacting international trade relations and raising concerns about economic repercussions.
India emerged reasonably well from 2025. But now, the oil shock and war-related supply disruptions have again driven funds out of India and significantly weakened the rupee, points out Ajay Chhibber.
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.
Former US President Donald Trump claimed he stopped a war between India and Pakistan and expressed his desire to be remembered as a great peacemaker.
US President Donald Trump will visit China from May 13 to 15 at the invitation of President Xi Jinping. The visit occurs amidst global tensions, including the war in West Asia and trade disputes between the US and China. Discussions are expected to cover China-US relations, world peace, and economic issues.
India and New Zealand have signed a comprehensive Free Trade Agreement (FTA) aimed at significantly boosting bilateral commerce and investments, providing duty-free access for 100 per cent of India's exports to New Zealand and securing duty-free inputs for India's manufacturing sector.
Indian exports to the US will face a 10% tariff, down from 25%, for 150 days following a US Supreme Court ruling. However, uncertainty persists due to potential further tariff hikes and long-term implications.
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 reported positive progress in recent trade talks in Washington, agreeing to maintain engagement to finalise a bilateral trade agreement, which now requires recalibration following new US tariffs.
The verdict marks a notable shift from a series of recent wins for Trump at the Supreme Court.
Tata Motors' MD and CEO, Girish Wagh, has identified rising diesel prices as the most significant threat to India's commercial vehicle (CV) industry recovery, despite the sector recently surpassing its pre-FY19 wholesale peak. Diesel costs account for 25-50% of a truck operator's total cost of ownership, making any increase a critical concern for fleet economics.
The Swadeshi Jagran Manch (SJM) is advocating for the termination of the moratorium on customs duties for electronically transmitted digital products, arguing that it hinders self-reliance, causes revenue losses, and restricts India's ability to tax emerging technologies like AI.
Indian equity markets closed higher, driven by gains in PSU bank, auto, and financial stocks, following the US Supreme Court's decision on tariffs. Sensex climbed 479.95 points to 83,294.66, and Nifty advanced 141.75 points to 25,713.
The Indian rupee plummeted to an all-time low of 95.80 against the US dollar, settling at 95.66, driven by elevated crude oil prices and escalating geopolitical tensions in West Asia, despite potential RBI intervention and import curbs on gold.
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.
Reliance Industries Limited (RIL) faced a challenging fourth quarter, with its energy business experiencing significant headwinds, leading to overall muted results and prompting analysts to adjust their outlook, even as consumer segments like Jio and retail demonstrated robust growth.
Chief negotiators from India and the US are set to begin three-day talks in Washington to recalibrate the bilateral trade agreement (BTA) framework, following significant changes in the US tariff landscape, including a new 10 per cent tariff imposed on all countries.
US President Donald Trump and Chinese President Xi Jinping met in Beijing to discuss a range of issues, including trade frictions and the war in Iran.
US Secretary of State Marco Rubio will visit India for four days to strengthen bilateral relations, holding talks with Indian leaders and attending the Quad foreign ministers' meeting.
US President Donald Trump is set to visit China for talks with President Xi Jinping on trade, global issues, and the Gulf war. The visit aims to address trade frictions and other key issues, with high expectations for progress.
US Secretary of State Marco Rubio arrived in Kolkata for a four-day diplomatic tour to India, marking the first visit by a US secretary of state to the city in 14 years. His itinerary includes meetings with Indian officials, energy talks, and a Quad Foreign Ministers Meeting.
The agreement addresses non-tariff barriers and promotes increased trade in technology products and cooperation between the two countries.
A US trade representative described India as a 'tough nut to crack' during trade agreement negotiations in Washington, highlighting India's protection of its agricultural markets and the ongoing discussions on specific commodities.
Neal Katyal, an accomplished Indian-American lawyer, triumphed in a landmark Supreme Court case against Donald Trump's tariffs, championing the Constitution and the rights of American small businesses.
US President Donald Trump and Chinese President Xi Jinping began a crucial two-day summit in Beijing on Thursday, with both leaders signalling a desire to stabilise relations between the world's two biggest economies despite deep disagreements on trade, Taiwan, technology and security issues.
'It was diminishing even before Trump came to power.' 'The US was at the centre of the global economy. That position is going to become less and less important and less central.'
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances