Members of India's diamond industry have said that the US decision to impose 50 per cent tariffs on Indian goods poses a challenge, but expressed confidence in the sector's resilience and the strength of the domestic market.
"For the first time, a country has stood up to the United States, and that country is India. India has made it clear that we will not bow down before Trump," Bansal said.
He backed his argument by stating that the measures taken by the government, such as direct tax cuts, forthcoming GST tax structure reforms, and the employment-linked incentives, among others, are supportive of the overall economy.
The Friday judgment by the US Court of Appeals for the Federal Circuit upholds an earlier ruling by the US Court of International Trade, dated May 28, that initially struck down the tariffs.
According to Dawn, the traders' demands are aligned with recommendations of the PoGB cabinet, which had asked the federal government to declare the region a non-tariff area. The cabinet urged Islamabad to exempt the people from sales tax and income tax on goods imported from China and ens
The Global Trade Research Initiative (GTRI), a trade-focused think tank, has suggested a 10-point plan to the central government, which it believes, if implemented, can shield India from the impact of US tariffs.
India's economy is expected to expand by around 6.5 per cent in FY26, reflecting steady domestic momentum, said the Bank of Baroda, noting that the escalating concerns over ongoing tariff negotiations pose a downside risk, with potential adverse effects on the external sector.
After a federal appeals court ruled President Donald Trump's tariffs "illegal," Democrat Representative Gregory Meeks urged Mike Johnson, Speaker of the House of Representatives, to take up his resolution to end tariffs.
Brazil's President Lula said his government will not immediately retaliate against US tariffs and seeks trade talks with President Trump. While the US imposes 50% taxes on Brazilian exports, Brazil is exploring legal measures but prioritizes negotiation, emphasizing it will not compromise it
Former Indian Ambassador Navtej Sarna said India must maintain strategic autonomy amid global pressures, including US criticism of its Russian oil purchases. He urged not to react to every Washington comment, highlighting challenges in India-US ties while asserting India's rights to make
Rajasthan CM Bhajanlal Sharma met Brazil's Ambassador Kenneth Felix Haczynski Da Nobrega at the Chief Minister's Office, discussing ways to strengthen mutual cooperation, boost investment opportunities, and explore partnerships across various sectors.
The judges noted that Trump's unprecedented tariffs are an overstep of his power because the ability to impose taxes, including tariffs, is "a core Congressional power" that the Constitution grants to the legislative branch.