US President Donald Trump today, in a social media post on his Truth Social Account, announced 25 per cent tariffs on India starting August 1. Trump also said India will face additional penalties for purchasing oil from Russia.
While some trade and industry leaders warned of short-term disruptions, others expressed confidence that India's strong manufacturing base, especially in sectors such as pharmaceuticals and medical equipment, would help it withstand the impact and forge new trade partnerships.
Industry association FICCI on Wednesday expressed disappointment over US President Donald Trump's decision to impose a 25 per cent tariff on Indian goods and said the move is unfortunate and will have a clear bearing on India's exports.
Indian equity benchmarks settled marginally higher Wednesday, possibly due to some fresh buying, but analysts are of the view that uncertainty around the India-US trade front will continue to remain key headwinds.
If US President Donald Trump imposes 20-25 per cent tariffs on India, as he threatened last evening, it will have a varied impact on different sectors, noted the founder of the Global Trade Research Initiative, Ajay Srivastava.
Referring to the recent trade agreements between US and other countries such as the EU, Indonesia, Philippines and the latest comments by Donald Trump that India may have to pay 20-25 per cent tariffs, Vice Chancellor of Indian Institute of Foreign Trade (IIFT) Professor Rakesh Mohan Joshi o
During a gaggle with the press interaction aboard Air Force One on Tuesday (local time), Trump responded to a report suggesting that India might be preparing for 20 to 25 per cent tariffs, stating that India had been imposing higher tariffs on the US as compared to other countries. He fur
The Indian stock markets opened on a weak note on Tuesday, weighed down by persistent foreign portfolio investor (FPI) selling and concerns over a delay in the India-US trade deal, which may lead to a 15 per cent tariff.
The benchmark indices continued to face selling pressure at higher levels, with analysts indicating that the India-US new interim deal is unlikely to be finalised before the August 1 deadline. On Sunday, the US administration indicated that the August 1 deadline wouldn't be extended further.
During the meeting, both sides explored various avenues to enhance defence collaboration, operational synergy, and future joint engagements in the Indo-Pacific region.
Referring to purported differences in understanding of US trade agreements and their clauses with Vietnam and Japan, think tank Global Trade Research Initiative (GTRI) suggested that India tread carefully as it negotiates its trade agreement with the US.
In a post on X, the Embassy stated, "The United States is a society of law and order. Crimes like assault by foreign visitors will not be tolerated. If you break the law in the United States, your U.S. visa can be revoked, and you may be ineligible to return to the United States - FOR LIF