Indian stock markets continued to remain under pressure on Friday morning as US President Donald Trump signed an executive order imposing 25 per cent tariffs on India's exports to the US, effective from August 7.
The Indian Rupee is likely to weaken further to 88.5 per U.S. dollar following the imposition of fresh tariffs by U.S. President Donald Trump, according to a report by ICICI Bank.
US President Donald Trump signed a new executive order adjusting tariff rates on several countries to address trade deficits, citing national security concerns. It replaces earlier rates, imposes penalties for transshipment, and will be enforced by trade and customs officials starting seven
AAP Rajya Sabha MP Sanjay Singh moved a Suspension of Business notice in the Upper House on Friday and demanded a discussion on the 25 per cent tariffs imposed by the United States.
American diplomat and the President of the US-India Business Council, Atul Keshap, spoke on the decision by the United States to impose 25 per cent tariffs on India and said that the two countries should calmly forge a deal which benefits them both.
The White House Press Secretary announced on Thursday (local time) several updates on the front of trade and tariff under the Trump 2.0 administration, highlighting a "historic" trade agreement with the European Union (EU), which amongst several other factors would see the EU purchasing U
Speaking about the remarks during the White House Press briefing, Karoline Leavitt said, "Mexico is a very unique situation... because we share our southern border. We've seen an increase in cooperation between Mexico's President, Claudia Sheinbaum, and our administration on clamping down
The US administration has, in a way, adopted a flexible trade strategy by offering reduced tariffs to countries that pledge reciprocal benefits such as increased purchases of US goods, removal of trade barriers, or investment in American industries.
Congress leader Jairam Ramesh on Thursday slammed the government over its statement in Parliament on 25 per tariff imposed by US President Donald Trump on Indian goods, saying Commerce Minister "made a non-statement" and engaged in "totally misplaced self-congratulation".
German Ambassador to India, Philipp Ackermann, on Thursday, praised India as a "fabulous partner" and a world leader in technology, as European companies are closely watching developments in India, recognising its growing importance in the global tech landscape.
United States Treasury Secretary Scott Bessent has blamed India for "slow-rolling things" in the talks for a Free Trade Agreement and said "the whole trade team has been frustrated with them".
The government told the Parliament on Thursday that US President Donald Trump has announced a reciprocal tariff on Indian goods, and it is examining the impact of the recent events and will take all necessary steps to safeguard national interest.