COMMERCE SECRETARY
Trump says he will soon announce tariffs on autos, aluminum, pharmaceuticals
U.S. President Donald Trump announced that tariffs on automobiles, aluminum, and pharmaceuticals would soon be imposed to protect the nation’s interests. Commerce Secretary Howard Lutnick indicated that the tariffs would be implemented on April 2, marking the start of 'the external revenue service.'
India, US team to finalise contours, terms of reference of trade agreement this week: Official
India and the US are set to finalise the contours and terms of reference for a bilateral trade agreement during a three-day discussion starting Tuesday. The focus is on increasing trade predictability and integration, with the first phase of the agreement expected to be completed by fall 2025.
Recycling industry to hit $3 trillion by 2047
Ved Prakash Mishra states that the recycling industry could reach $3 trillion by 2047 as part of a circular economy. Speaking at a symposium, he emphasized the need for sustainable practices such as resource efficiency and waste-to-wealth initiatives. The government aims to expand Extended Producer Responsibility guidelines and promote circular economic practices across various sectors.
Senior US trade rep Brendan Lynch to lead key trade talks in India amid tariff concerns
Brendan Lynch, Assistant US Trade Representative, will visit India for crucial trade talks from March 25-29. Discussions with Indian officials aim to enhance bilateral trade and include the impending reciprocal tariffs by the US. India plans to expand trade with the US to $500 billion by 2030.
Gold Card with $5 mn price tag too expensive? US says, selling 1,000 per day
Donald Trump's Gold Card visa offers US citizenship for a $5 million payment, sparking debate over its high cost. Commerce Secretary Howard Lutnick revealed 1,000 Gold Cards are sold daily, with a potential market of 37 million people.
Trump's tariffs have sown uncertainty. That might be the point.
The Federal Reserve and other analysts warn of negative impacts on growth and higher consumer prices due to the tariffs.
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Elon Musk tells Tesla staff future is ‘bright’; urges them to hold on to stock
The car maker Tesla’s stock has fallen nearly 50% from its peak in December. Tesla is facing backlash because of Musk’s role in President Donald Trump’s administration as head of the newly-formed Department of Government Efficiency (DOGE), where he has shut down several federal agencies, a move that has sparked protests.
Hang on to stock: Tesla CEO Elon Musk to staff
During an all-hands meeting broadcast Thursday on X, he said, "If you read the news, it feels like Armageddon." Musk joked he can't walk past a television without seeing a Tesla on fire, then mocked his detractors. "I understand if you don't want to buy our product, but you don't have to burn it down. That's a bit unreasonable."
Howard Lutnick in the line of fire: Wall Street executives urge Donald Trump to keep commerce secretary off TV before he does more damage to the economy
Wall Street officials have asked President Trump to prevent Commerce Secretary Howard Lutnick from making media appearances. They believe his TV statements are hurting the economy and think he doesn't understand tariffs. Frustration has also arisen because of his close ties to Trump. Treasury Secretary Scott Bessent now handles media appearances frequently.
Commerce Secretary Howard Lutnick privately frustrated with Donald Trump’s tariff strategy, fears impact on US trade deals with Canada, Mexico
Commerce Secretary Howard Lutnick, a supporter of Trump's tariffs, is reportedly "not thrilled" with Trump's impulsive tariff hikes without a clear strategy. Lutnick's concerns peaked when Trump threatened Canada with a 50% tariff, leading Lutnick to intervene and ease tensions. He worries this approach could hinder future trade deals, including the USMCA.
India, US eye middle ground in trade talks amid tariff tussle
India and the United States are actively discussing solutions to tariff-related disputes, aiming to formulate a bilateral trade agreement framework. The Ministry of External Affairs in India remains hopeful about reaching an understanding soon, signaling a possible breakthrough in their economic relationship.
Even Donald Trump’s favorite network Fox News poll shows him underwater on economy as voter confidence in his economic policies plummets
A Fox News poll indicates a 56% disapproval rate for Trump's handling of the economy, showing a significant drop from his first term ratings. Approval on inflation is even worse at 40%. His overall job approval stands at 49%. Analysts express concerns the new tariffs might increase inflation or lead to a recession.
Bizarre Tesla stock endorsement by Donald Trump’s commerce secretary Howard Lutnick; instead, shares plummet even further
Howard Lutnick, the Secretary of Commerce, publicly endorsed Tesla stock on Fox News despite Tesla's recent stock decline. He praised Elon Musk as the best technologist and entrepreneur. Lutnick's endorsement comes amid controversy over Musk's involvement in the White House and widespread public protests against Tesla. Lutnick defended Musk's leadership and advised viewers to buy Tesla stock.
"India eyes single-digit logistics costs to rival China & US," says Nitin Gadkari
Nitin Gadkari outlined India's plan to reduce logistics costs to single digits, enhancing global competitiveness at the Convergence India & Smart Cities Expo. Key highlights include advancements in AI, 5G, and Smart City Solutions. The event features AI Bharat Expo and a Startup Hub, offering mentoring and investor connections, with discussions on India's energy data capabilities by Sanket Bhondve.
Impose safeguard duties on medical devices: AiMeD
The Association of Indian Medical Device Industry (AiMeD) has requested the government to impose safeguard duties on 12 medical device categories to shield domestic manufacturers from cheap imports. AiMeD highlighted a significant increase in imports, notably in syringes and needles, primarily from China, the US, and Singapore.
Closer India-Lat America ties contribute to India’s leadership role in global South
The 10th CII India-LAC Conclave emphasized the strengthening of India-LAC trade relations and highlighted potential areas for collaboration including agriculture, food security, renewable energy, and healthcare. Two MoUs were signed to enhance economic cooperation between both regions in various sectors.
New twist in Trump tariff policy can give India a breather
India may not be severely impacted by Trump's reciprocal tariffs set for April 2, as the specifics remain uncertain. Treasury Secretary Scott Bessent suggested potential delays and negotiations, giving India a chance to reach a trade deal and possibly avoid the tariffs.
India focusing on core trade issues in FTAs for early outcomes: Commerce secretary Sunil Barthwal
India emphasizes core trade issues such as tariffs and non-tariff barriers in FTAs to expedite negotiations for faster outcomes. This approach is meant to maintain business interest and achieve quick results, aiming to double India-LAC trade from USD 50 billion to USD 100 billion in coming years.
'Swagatam, Sunita': Anand Mahindra welcomes Astro Suni after safe return from space
Industrialist Anand Mahindra shared his relief at Sunita Williams' safe return to Earth. He remembered meeting the astronaut in Washington two years ago. Williams, who has Gujarati roots, returned after a nine-month space mission. Her journey extended due to issues with her Boeing spacecraft. Mahindra posted about their chance encounter on social media.
India partners with Meta on digital consumer protection initiative
The Ministry of Consumer Affairs and Meta have launched the 'Be an Empowered Consumer' campaign to enhance digital literacy and protection for online consumers. With a focus on recognizing online threats and promoting digital safety, the initiative aims to extend consumer protection to remote areas of India.
February trade deficit at 3.5-year low, exports continue fall
India's merchandise exports decreased by 10.9% in February, marking the sharpest decline in 20 months due to subdued global demand and a high base effect. Imports also dropped by 16.3%, leading to a reduced trade deficit of $14 billion, the lowest in 42 months.
Bilateral trade pact on track, but yet to talk US reciprocal tariffs
India and the US are finalizing a Bilateral Trade Agreement (BTA) and have not yet addressed reciprocal tariffs. Commerce Secretary Sunil Barthwal indicated active engagement and stakeholder consultations, anticipating a positive outcome. During his visit to Washington from March 4-6, Goyal met with US Commerce Secretary Howard Lutnick and US Trade Representative Jamieson Greer.
Donald Trump’s chaotic trade policies are burying him in economic and political trouble, can he escape the fallout?
Trump’s global steel or aluminum tariffs spark market plunges and European retaliation, testing U.S. economic stability. Explore trade policy chaos and delayed negotiations.
Donald Trump will try to deal with TikTok in current time frame, US Commerce chief says
On Sunday, Donald Trump told reporters that his administration was talking to four different groups about the sale of the Chinese-owned social media platform.
US citizens earning under $150,000 annually to pay no tax? Trump's big plan revealed
United States Commerce Secretary Howard Lutnick has claimed that US President Donald Trump's “goal” is to have “no tax” for anyone earning below $150,000 annually. Lutnick’s comments on tip taxes and social security echo promises from Trump that he will eliminate taxes on tips, while also pushing for sweeping tax cuts for individuals and corporations.
India blocks United States' farmers, claims America's Commerce Secretary Howard Lutnick
America's Commerce Secretary, Howard Lutnick, stated that India blocks U.S. farmers' products and emphasized that President Trump aims to negotiate with countries like India that hinder access to global markets. He praised the UK and Mexico for avoiding retaliation against U.S. tariffs but warned that countries upsetting Trump could face severe responses.
Trade War Whiplash: Trump retreats on 50% Canada tariff threat after Ontario’s electricity standoff
President Donald Trump reversed his decision to double tariffs on Canadian steel and aluminum just hours after announcing the higher tariffs. This move came after Ontario Premier Doug Ford agreed to suspend a 25% surcharge on electricity. Financial markets experienced volatility following these rapid trade policy shifts.
Goyal to discuss trade issues with export councils on Mar 13 amid Trump tariff threat
Commerce and Industry Minister Piyush Goyal will discuss trade issues with export promotion councils amid the threat of US reciprocal tariffs. Exporters are concerned about potential impacts on India's largest trading partner, the US. Importantly, trade negotiations are ongoing, with no agreement yet on tariffs reduction despite recent claims by US President Donald Trump.
Who is Howard Lutnick, the US Commerce Secretary?
Howard Lutnick, former CEO of Cantor Fitzgerald, has been appointed as the new US Commerce Secretary. He will support tariffs to protect American industries and restrict technology exports to countries like China and Russia. Concerns over his financial conflicts of interest and role in major economic initiatives persist.
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