US tariffs Archives - National Times

24 Jan

US Signals Possible Rollback of Russian Oil Tariffs on India as Imports Decline

Rajeev Sharma0 CommentsIndiaDonald Trump, energy imports, India Russia oil trade, India US relations, Scott Bessent, US tariffs

New Delhi, January 24, 2025: US Treasury Secretary Scott Bessent has said there is a possible “path” to remove the 25 per cent tariffs imposed on India over its purchase of Russian oil, asserting that New Delhi’s imports from Moscow have sharply declined following the US action. The remarks come amid strained India–US ties after President Donald Trump imposed sweeping 50 per cent tariffs on Indian goods, including a specific 25 per cent levy linked to India’s Russian oil purchases. Bessent described the measure as effective, claiming it had achieved its intended outcome. “We put 25 per cent tariffs on…

10 Jan

Eurasia Group Warns Canada Could Bear Brunt of US Political Turmoil in 2026

Rajeev Sharma0 CommentsCanadaCanada-US relations, Donald Trump, Eurasia Group report, Mark Carney, US tariffs

Ottawa (Rajeev Sharma): Canada is likely to face the most severe consequences of political instability in the United States next year, according to a new report released by global risk consultancy Eurasia Group on Friday. The firm cautioned that rising uncertainty in Washington and a hardening trade environment could significantly reshape Canada’s economy and its long-standing relationship with its closest ally. The report argues that the traditional Canada–US partnership has entered a fundamentally different phase, driven by US President Donald Trump’s return to the White House and his confrontational approach to governance and trade. It warns that Trump’s efforts to…

16 Aug

ICRIER Report: US Tariffs Hit 60.8 Billion Dollars Worth of Indian Exports, Key Sectors at Risk

Rajeev Sharma0 CommentsBusinessgems and jewellery, ICRIER, India US trade, Indian exports, textiles and apparel, Trump tariff policy, US tariffs

New Delhi [India]: Around 70 per cent of India’s goods exports to the United States, worth USD 60.85 billion, are now exposed to a 50 per cent tariff imposed by the US administration, according to an analysis by the Indian Council for Research on International Economic Relations (ICRIER).Though significant, this amounts to only 1.56 per cent of India’s GDP and 7.38 per cent of total exports, making it manageable for a USD 3.9 trillion economy. The report, titled “Navigating Trump’s Tariff Blow” and authored by Ashok Gulati, Sulakshana Rao, and Tanay Suntwal, highlighted that the brunt of the impact falls…

02 Aug

PM Modi Reaffirms India’s Growth Path Amid Trump’s ‘Dead Economy’ Jibe and US Tariffs

Rajeev Sharma0 CommentsIndiadead economy, Donald Trump, India third largest economy, PM Modi, Swadeshi, US tariffs

Varanasi, Aug 2, 2025: Prime Minister Narendra Modi reaffirmed India’s economic resilience on Saturday, asserting that the nation is steadily moving towards becoming the world’s third-largest economy. Speaking at a public gathering in Banauli village in his parliamentary constituency Varanasi, Modi emphasized that amid global instability and uncertainty, India must focus sharply on its own economic priorities.His remarks come just days after US President Donald Trump described India as a “dead economy” and imposed a 25 per cent tariff on Indian imports, alongside threats of a penalty over India’s continued trade ties with Russia, particularly in the military and energy…

28 Jul

US-EU Strike Major Trade Deal, Sidestep Full-Blown Tariff War

Rajeev Sharma0 CommentsBusiness, World News15% import tariff, EU investments, global trade, US tariffs, US-EU trade deal

National Times Bureau, July 28, 2025: The United States and the European Union on Sunday reached a sweeping framework trade deal, calming tensions between two of the world’s largest economies and averting a high-stakes tariff escalation that threatened nearly a third of global trade.The agreement imposes a uniform 15% US import tariff on most European goods, replacing the possibility of steeper duties that had alarmed businesses on both sides of the Atlantic. It also includes major EU investments in American infrastructure and commitments to purchase US energy and military equipment.Both sides hailed the deal as a stabilizing force in a…

09 Jul

Trump Threatens Sweeping New Tariffs on Copper, Chips, and Drugs Amid Global Trade Tensions

Rajeev Sharma0 CommentsWorld Newscopper tariffs, Donald Trump, pharmaceutical imports, semiconductor tariffs, US tariffs

Washington, July 9 — US President Donald Trump on Tuesday dramatically expanded his trade offensive, announcing plans to impose a hefty 50% tariff on imported copper and threatening steep new levies on semiconductors and pharmaceuticals moves likely to rattle markets and global trade partners further.Speaking during a cabinet meeting at the White House, Trump declared that the United States would soon move forward with 10% tariffs on imports from Brazil, India, and other BRICS nations, adding to fresh tariff warnings already sent to 14 trading partners, including major US suppliers like South Korea and Japan.The President’s latest salvo could inject…

10 Apr

US Suspends Additional Tariffs on Indian Goods Until July 9, Baseline Duties Remain

Rajeev Sharma0 CommentsWorld NewsDonald Trump, India exports, Steel Tariffs, Trade Deficit, US tariffs

New Delhi, April 10, 2025: In a temporary relief to Indian exporters, the United States has suspended its newly imposed 26% additional tariffs on Indian goods for 90 days, effective April 10. The suspension will last until July 9, 2025, according to an executive order from the White House.President Donald Trump had announced steep reciprocal duties on April 2 targeting 60 countries, including India, with the aim of curbing the trade deficit and bolstering American manufacturing. India was among the hardest hit, with tariffs impacting sectors such as shrimp, steel, aluminium, and auto components.However, the suspension applies only to the…

08 Apr

Trump’s Tariff Ultimatum Sparks Global Trade Turmoil, China Vows to Retaliate

Rajeev Sharma0 CommentsWorld NewsChina trade war, Donald Trump, EU Retaliation, US tariffs

Washington, April 8, 2025: With US President Donald Trump set to enforce a fresh round of sweeping tariffs by April 9, the global economic landscape has entered a phase of heightened tension. The tariffs, including a proposed 50% duty on Chinese imports, are triggering fierce global reactions and mounting fears of a full-blown trade war.China’s Commerce Ministry responded with a hardline stance on Tuesday morning, pledging to "fight to the end" if the US follows through. Beijing warned that Washington’s threat was a “mistake on top of a mistake” and accused the US of “blackmailing” tactics. The situation escalated after…