SMOOT HAWLEY TARIFF ACT
US ends duty-free shipping loophole for low-cost goods from China
The United States has ended a tariff exemption for Chinese goods under $800, impacting e-commerce giants like Shein and Temu. This move, justified by the White House as countering opioid flows, imposes tariffs up to 145% and is part of an escalating trade conflict between the US and China.
Shein, Ford, Procter & Gamble and more: Full list of American companies raising prices due to Trump's tariffs
President Donald Trump warned of short-term pain resulting from his tariffs and that pain has arrived in the form of higher prices. A wide range of products — from car tires to clothing, many of which are produced in China — have seen price hikes in recent weeks as retailers face increased costs due to tariffs. Companies like Ford, Shein, Procter & Gamble, Amazon are some of the big names that are raising prices due to Trump's tariffs.
India's to grow at 6.6% in FY26 as tax relief supports demand amid trade uncertainty: Deloitte
Deloitte forecasts India's economic growth to remain steady at 6.6% in FY2025-26, balancing domestic tax stimulus against uncertain global trade. Tax incentives are expected to boost consumer spending, while potential tariffs on exports to the US pose a risk. The outcome of US-India trade negotiations will significantly influence India's economic trajectory.
'Really like where we are at now': Trump trade adviser's bizarre remark as US economy shrinks amid tariff war
Donald Trump's chief trade adviser Peter Navarro has reacted after US economy contracted in first quarter amid tariff war. He also went to hit out at media outlets saying news outlets are using “scare tactics” to create more fear among people. Trump’s latest import tax rollout has ignited a tariff war with foreign trading partners and adversaries.
A livid Trump dials Jeff Bezos after White House accuses Amazon of 'hostile, political' act
The White House and Amazon were involved in a clash after White House Press Secretary Karoline Leavitt claimed the tech giant reportedly planned to display tariff costs on its website. President Trump reportedly contacted Amazon mogul Jeff Bezos, expressing concerns about the potential impact on consumer perception of his trade policies. Amazon denied the reports.
Trump's tariffs loom over American economy as shipments from China fall
American businesses are reeling from President Trump's unpredictable tariffs, leading to order cancellations and postponed expansions. The U.S. economy contracted in the first quarter, with imports significantly impacting growth. As trade tensions escalate between the U.S. and China, experts warn of potential shortages, layoffs, and a heightened risk of recession, fueled by declining consumer confidence and business uncertainty.
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'Hostile, political act': White House vs Amazon after tech giant planned to disclose cost of US tariffs on its website
The White House accused Amazon of committing a “hostile and political act” after a report said the e-commerce company was planning to inform customers how much Donald Trump’s tariffs would cost them as they shopped. The press secretary, Karoline Leavitt, was responding to a report in Punchbowl News,. However, Amazon has denied the report.
Donald Trump praises Jeff Bezos as Amazon denies plan to display tariff cost
The call came after reports that President Trump had complained to Jeff Bezos about Amazon’s alleged plan to show how tariffs affected product prices. Amazon released a statement saying its low-cost Amazon Haul store had "considered the idea of listing import charges on certain products." However, the company said that it was never approved.
Amazon vs Donald Trump administration: White House slams retail giant over reported plan to disclose cost of US tariffs, calls 'hostile, political act'
President Donald Trump has imposed a tsunami of tariffs on U.S. trading partners, including China, which has seen tariff costs rise by 145 per cent since Trump took office.
White House: Amazon tariff price announcement is hostile
White House Press Secretary Karoline Leavitt called Amazon’s decision to display US tariffs in product prices a “hostile and political act,” echoing former President Donald Trump’s stance. The move comes amid heightened trade tensions, as Amazon faces scrutiny for highlighting tariff costs to consumers directly.
NITI Aayog reviews role of central, state electricity regulators
India is set to overhaul its power sector regulations, prompted by NITI Aayog's study on the effectiveness of electricity regulatory commissions (ERCs). The study aims to strengthen these institutions to handle the evolving electricity landscape, including new market entrants and technologies.
Could Trump’s proposed pharmaceutical tariffs trigger a drug shortage in the U.S.?
On April 8, President Trump announced that his administration would soon implement a “major tariff on pharmaceuticals” imported into the U.S. He also predicted that, in response, drug manufacturers would relocate their production facilities to the United States to avoid the import duties.
A dozen states sue the Trump administration to stop tariff policy
Twelve states in America have filed a lawsuit against the Trump administration. The suit challenges the legality of President Trump's tariff policy. States argue that the policy is unlawful and disrupts the American economy. They claim Trump's actions exceed his authority. California also filed a separate lawsuit last week. The White House defends its tariff policy as a necessary tool.
Globalisation, which was meant to ensure lasting peace, threatens to start a trade war
Globalisation, initially conceived to foster peace and contain Communism, now faces disruption as China, a Communist nation, challenges the established world order. Accusations of unfair trade practices and intellectual property theft have led to trade tensions, particularly with the US, threatening the future of global trade and potentially reshaping international power dynamics.
Gold prices soar to inflation-adjusted highs not seen since 1980 amid echoes of geopolitical chaos and economic uncertainty; here's where it could be headed
Gold prices have surged to record highs, driven by global economic anxieties and volatile financial markets. Shifting tariff policies and a weakening US dollar are fueling investor worries, prompting diversification into gold. Retail investors, including younger generations, are also contributing to the gold rush, seeking a safe haven amidst uncertainty.
How Trump's trade war is different from all other trade wars
Trade policy under President Trump has deviated sharply from historical norms, raising concerns of a global trade war reminiscent of the 1930s. Economist Douglas Irwin notes this unprecedented shift, driven by the President's unilateral tariff decisions. These actions have triggered market volatility and retaliatory tariffs from China, posing risks of recession and geopolitical instability.
Despite Trump pause, overall US tariff rate at highest since 1903
Donald Trump's tariff policies significantly impact US trade. New tariffs on China raise the average US tariff rate. Experts estimate the rate is highest since 1903. These tariffs affect a large portion of US imports. Analysts predict shrinking imports from China. The policies may reduce US GDP. Recession is still a possibility.
Americans are paying dearly: From the grocery aisle to Wall Street, Donald Trump’s tariff war sinks $4 trillion and spikes prices on essentials by $115 million
Trump’s tariff war is hitting Americans where it hurts most — their wallets and investments. From soaring prices on groceries to a shocking $4 trillion market drop, this trade war is costing everyone. Essentials alone spiked by $115 million in just one week. While a 90-day pause has cooled tensions slightly, a 10% tariff still remains on global imports. Everyday families could end up paying an extra $5,200 yearly.
Major trade wars since the 19th century
From the 19th-century Opium Wars to the recent banana and beef disputes, history is replete with trade conflicts. The McKinley Tariff in 1890 and the Smoot-Hawley Act of 1930 had significant economic and political repercussions. Retaliatory tariffs, like those in the Chicken and Pasta Wars, demonstrate the cyclical nature of protectionist measures and their impact on international relations.
‘Tariffs don’t protect, they backfire’: Former US President Ronald Reagan’s resurfaced warning echoes amid Trump’s new trade war
A resurfaced video of Ronald Reagan cautioning against tariffs gains traction amidst President Trump's new trade policies. Reagan warned that tariffs lead to industry complacency, trade wars, and job losses, echoing concerns about Trump's recent tariffs on imports. Economists predict potential recession and increased household costs, reminiscent of the Smoot-Hawley Tariff Act's disastrous consequences.
RBI to retain liquidity focus for rate transmission
The Monetary Policy Committee (MPC) is scheduled to announce its rate decision on Wednesday, having slashed the policy rates for the first time in nearly five years by a quarter percentage point two months ago. An ET poll showed participants expect another quarter-percentage point reduction in rates this week, taking the repo rate to 6%.
RBI's rate cut dreams hit a tariff roadblock
Escalating trade tensions, dubbed 'Trump-tariffs,' have complicated the RBI's plans to cut interest rates despite easing inflation. Global uncertainties, potential stagflation, and capital flight risks are forcing the RBI to maintain a cautious stance. The central bank's actions are constrained by US Federal Reserve policies and the need to maintain capital inflows to support India's current account.
Did Nostradamus predict global stock market crash after Trump tariffs? Here's what he said
As global markets reel from the economic impact of renewed tariffs imposed by Donald Trump, many are turning to Nostradamus’ centuries-old prophecies. Some believe the 16th-century seer may have predicted a financial crisis in 2025, eerily aligning with today’s rising global tensions and trade wars. While skeptics call it coincidence, the parallels between prophecy and present events are sparking fresh debate.
Tariffs are ‘very beautiful,’ says Donald Trump, even as global markets spiral
Donald Trump defended his sweeping tariffs on global imports, calling them a “beautiful thing” amid deepening fears of recession and market chaos. The US president imposed new duties on over 57 trading partners, citing ballooning trade deficits. His remarks come as global stocks plummet and major economies respond with retaliatory measures. Despite warnings from economists and central bankers, Trump doubled down, claiming the tariffs would supercharge the US economy and force a reset of global trade rules in America's favour.
Does Kindleberger’s Spiral predict economic depressions?
In times of potential crisis, the Kindleberger Spiral illustrates America's historical role in stabilizing global finance. During the Great Depression, the lack of a financial leader worsened the situation. With Trump's focus on tariffs and isolationism, there's concern that the U.S. may not play its crucial role in preventing international financial crises now.
Smoot-Hawley 2.0 with a 21st-century twist? Wall Street reels after Donald Trump’s Liberation Day tariffs, as top Wharton economist warns of biggest U.S policy blunder in 95 years
Jeremy Siegel from Wharton School claims Trump's tariffs are the biggest policy mistake in 95 years. He warns short-term traders of potential market turbulence. He also expects the Federal Reserve to cut interest rates soon due to the global impact of the tariffs. Trump has similarly urged Fed Chair Powell to cut interest rates immediately.
'Waterfall' decline base case risk to US market: Chris Wood
He said April 2-when Donald Trump announced the imposition of tariffs on imports into the US-is an 'impoverishment' day, not a 'liberation' day, as termed by President Trump. On Thursday, Wall Street posted its worst day since 2020 in response to the announcement of worldwide tariffs the previous night.
Trump’s tariff hikes signal impoverishment day, not liberation day: Chris Wood of Jefferies
Jefferies’ Chris Wood criticizes Trump’s sweeping new tariffs, calling April 2 “an impoverishment day.” With steep levies on key Asian economies, analysts warn of global trade shocks, retaliatory moves, and economic instability amid a weakening US dollar and rising protectionism.
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