The Directorate General of Foreign Trade (DGFT), under the Ministry of Commerce & Industry, has announced a facilitation measure for exporters by extending the Export Obligation (EO) period for certain export promotion schemes, the release said.
India occupies a relative middle ground following the latest tariff developments by the United States, but any uniform tariff hike under Section 122 could increase its tariff exposure and erode some of the advantages gained through earlier negotiations, according to a report by Union Bank of
Following a ruling by the US Supreme Court striking down most of Trump's sweeping tariff measures, a spokesperson for China's Ministry of Commerce (MOFCOM) on Monday stated that China has consistently opposed unilateral tariff hikes in any form, The Global Times reported.
In a major blow to Trump's signature trade policy, the US Supreme Court on Friday ruled against most of his sweeping tariff measures. Trump later signed an order making 10 per cent global tariff on all countries, effective "almost immediately".
Kumaran, while speaking at the Special Briefing by MEA on State visit of President of Brazil to India, said that it was a rather new development and both sides needed to study about it.
US President Donald Trump on Saturday said that he is raising the 10% worldwide tariff on countries announced yesterday "to the fully allowed, and legally tested, 15% level."
The government said on Saturday that it is studying the implications of the US Supreme Court judgement on tariffs and the steps announced by the President Trump Administration.
The US administration has imposed a 10 per cent ad valorem import duty on articles imported into the United States, after the Supreme Court struck down the reciprocal tariffs imposed by them under the IEEPA, terming them as illegal.
Faced with US Supreme Court order that tariffs imposed by Trump administration under the IEEPA were illegal, US Trade Representative Jamieson Greer outlined a set of options his government will take to "ensure continuity in reaching these goals and as part of our negotiated agreements wit