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EU to impose counter tariffs on over $28 billion of US goods
Starting April 1, the European Union will impose counter tariffs on 26 billion euros worth of U.S. goods in response to U.S. tariffs on steel and aluminium. This move matches the economic scope of U.S. tariffs. The European Commission plans to introduce these countermeasures in two steps, aiming to have them fully in place by April 13.
Trump's 25 pc tariffs on all steel and aluminum imports go into effect
President Trump raised tariffs on all steel and aluminum imports to 25%, aiming to boost US factory jobs. He also plans reciprocal tariffs on imports from several countries. While tariffs may aid US steel and aluminum industries, they have raised prices for downstream manufacturers, leading to job losses and reduced production.
Trump vows to take back 'stolen' wealth as tariffs on steel and aluminum imports go into effect
President Trump imposed 25% tariffs on all steel and aluminum imports, aiming to reclaim wealth he claims other countries stole. Europe and Canada retaliated quickly with their own tariffs, raising concerns of a trade war and potential economic downturn. Trump argues the tariffs will boost U.S. manufacturing.
Gold firms as tariff uncertainty, cooler inflation data lend support
Gold prices increased slightly on Thursday due to ongoing tariff uncertainty and lower-than-expected U.S. inflation. This has strengthened expectations of rate cuts. Lower inflation may lead to U.S. Federal Reserve interest rate cuts. Investors await upcoming U.S. Producer Price Index data for further insights. Other precious metals like silver, platinum, and palladium also rose.
US food giants PepsiCo, Conagra seek to exempt some imports from tariffs, trade group says
Major packaged food makers including Quaker Oats, Folgers coffee, PepsiCo, Conagra, and J M Smucker have requested President Trump for exemptions from tariffs on imports like cocoa and fruit, which are not available from U.S. sources. They argue that such exemptions are necessary to protect U.S. manufacturers and lower consumer inflation.
Trump's 25% tariffs on all steel, aluminum imports go into effect
President Donald Trump has raised tariffs on steel and aluminum imports to 25%, removing exemptions from his 2018 tariff policy. This move aims to boost US factory jobs. The European Union and Canada have announced countermeasures, involving tariffs on various US goods. Trump believes higher tariffs will encourage companies to establish more factories in the US.
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One global market is barreling toward a war with Trump’s latest tariff offensive
Trump is imposing a 25% import tariff on steel to revive US steel towns. The global steel market faces potential oversupply and increased protectionism as nations like South Korea, Vietnam, and the EU implement similar measures. The primary target is China, whose steel exports surged last year, posing challenges for steelmakers and governments.
Canada to announce C$29.8 bn in retaliatory tariffs on US
Canada will impose C$29.8 billion in retaliatory tariffs on the U.S. in response to President Trump's steel and aluminum tariffs. As these tariffs took effect, Canada remains a major supplier to the U.S. The escalation comes as Justin Trudeau prepares to transfer power to Mark Carney, the newly elected leader of the ruling Liberals.
South Korean steelmakers eye U.S. production, higher-value products as Trump tariffs kick in
South Korean steelmakers POSCO Holdings and Hyundai Steel are exploring new investment options in the U.S. and India in response to increased U.S. tariffs on steel and aluminium imports. The new tariffs, reinstating a 25% duty, impact major exporters, including South Korea. The South Korean government plans support measures for domestic firms' overseas investments.
UK says disappointed with US tariffs on steel and aluminium
Britain's trade minister Jonathan Reynolds expressed disappointment over the U.S. imposing tariffs on steel and aluminium. He stated that the UK is negotiating a wider economic agreement with the U.S. The government is working with affected companies and supporting industry applications to protect UK producers. US tariffs took effect on Wednesday.
Australia won't retaliate against 'unjustified' US tariffs on steel and aluminum
Australian Prime Minister Anthony Albanese called U.S. tariffs on Australian steel and aluminum unjustified but refrained from imposing reciprocal tariffs. Despite a successful exemption in 2018, Albanese emphasized that tariffs harm economic growth and inflate consumer prices. The U.S. decision was influenced by recent tensions between Donald Trump and former Australian Prime Minister Malcolm Turnbull.
Jewellery exporters step up online play to reach US buyers directly
Indian jewellery exporters are leveraging digital marketing to enhance online sales in the US to mitigate potential tariff impacts. Taking advantage of the de minimis exemption, they aim to boost ecommerce transactions by promoting direct-to-consumer sales and simplifying cross-border logistics with partners like DHL.
Trump's expanded metals tariffs to hit goods from horseshoes to bulldozer blades
President Trump's new tariffs on steel and aluminum, which take effect soon, target $150 billion worth of derivative products, including automotive and construction parts. This move aims to boost U.S. metal production and jobs, but may increase costs for industries and consumers. Canada and Mexico are significantly impacted, while some U.S. manufacturers consider price hikes.
Trump calls Canada 'tariff abuser' after electricity surcharge
President Trump labels Canada a 'tariff abuser' and announces the U.S. will no longer subsidize Canadian energy after Ontario imposes a 25% surcharge on electricity exports to three U.S. states. Trump plans to introduce reciprocal tariffs beginning April 2. Ontario Premier Doug Ford vows to maintain the surcharge and potentially cut off electricity exports if U.S. tariffs persist.
Gold holds steady as market awaits US data, tariff impact
Gold prices remained steady as investors awaited crucial inflation data to determine the Federal Reserve's interest rate path amid ongoing trade tensions and economic growth concerns. Meanwhile, Trump's recent tariffs on imports have fueled market uncertainty, pushing gold to record highs earlier this year.
US stocks fall after Donald Trump refuses to rule out possibility of recession
Amid the uncertainty caused by Donald Trump's tariff policy and comments on the possibility of a recession, American stocks markets began in the red on Monday. The Dow Jones Industrial Average dropped by 515 points. Meanwhile, the S&P 500 fell by 1.4 percent, with a 1.95 percent drop also recorded by the Nasdaq Composite index.
Requirement for inspection certificate for rice exports limited to certain EU nations: DGFT
New Delhi announced that the certificate of inspection requirement for rice exports from government bodies mainly applies to EU member states, including the UK, Iceland, Liechtenstein, Norway, and Switzerland. The rule is exempt for other European countries for the next six months.
Rupee slumps on strong demand to buy dollars at daily fix, weak yuan
The Indian rupee weakened by 0.4% against the U.S. dollar, reaching 87.26, driven by strong dollar demand and a declining Chinese yuan amid global trade war concerns and economic slowdown fears. The dollar index recovered to 103.8 after a recent low, affected by tepid risk sentiment in Asian currencies.
Gold edges higher on dollar weakness, safe-haven flows
Gold prices slightly increased due to a weaker dollar and safe-haven demand amid concerns of a global trade war. Investors are awaiting crucial economic indicators and the Federal Reserve's interest rate stance. Additionally, Trump's recent tariff actions have caused market uncertainty, contributing to inflation and growth worries.
Will US face recession in 2025? See what US President Donald Trump said over economic concerns
President Donald Trump did not predict if the U.S. will face a recession in 2025. In an interview, he spoke about tariffs and trade policies. He delayed some tariffs but suggested possible increases.
Govt levies 10 pc duty on mosur dal; extends duty-free import of yellow peas till May 31
The Indian government has imposed a 10 per cent import duty on lentils, effective from March 8, to boost domestic supply. Additionally, the duty-free import of yellow peas has been extended until May 31. Previously, India allowed duty-free import of lentils and imported 30 lakh tonnes of yellow peas in 2024.
Worrying sign for Donald Trump amid Tariff debate as US creates lower-than-expected jobs
The US witnessed a higher unemployment rate projected at 4.1 per cent. This came as President Donald Trump had announced stringent tariffs.
Trump’s on-again, off-again tariff strategy sows confusion
US President Trump's tariffs have caused confusion and market instability due to sudden reversals, exemptions, and unclear rollouts. Key advisers were not in place, leading to hastily executed trade policies. The lack of clarity has created challenges for businesses, while foreign leaders struggle to engage effectively with the US administration.
Trump again slams India as 'high tariff nation' while Modi govt looks to avoid heavy blows
US President Trump has criticized India’s trade policies, calling it a "very high tariff nation" and announcing reciprocal tariffs effective April 2. Despite recent efforts by India to reduce tariffs and ease trade tensions, negotiations continue as the deadline nears, with hopes of securing favorable agreements.
US-Japan alliance unequal, Trump complains
In response, government spokesman Yoshimasa Hayashi said Friday that Japan trusts Washington to keep its obligation to the two countries' security treaty.
Here’s how tariff has created curiosity among Americans amid buzz around Trump’s policies
A recent analysis by The New York Times has provided some crucial insights into how a significant number of Americans might be lacking the proper understanding of what tariffs are. According to the results, the opinion of the American public on the topic could probably be subject to the manner in which the question is being framed by pollsters.
How will the U.S. auto tariff pause reshape the industry? Is Europe more divided than ever over Ukraine? | Here are the top stories you need to know
Auto tariffs paused—what does this mean for the U.S. auto industry? The Trump administration has temporarily halted tariffs on vehicles imported from Canada and Mexico, providing relief to automakers like Ford, GM, and Stellantis. This decision impacts manufacturing costs, trade relations, and stock markets. However, the exemption lasts only until April 2, leaving uncertainty about future trade policies. Meanwhile, Europe discusses increased defense spending amid the Ukraine crisis. Will auto tariffs return? How will global trade be affected?
How Trump tariffs are skidding just at the outset
President Trump's newly imposed tariffs on Canada, Mexico, and China are facing significant backlash. Despite initial resistance, Trump granted a one-month exemption to US automakers after discussions with industry leaders. Other sectors may see exemptions as tariff impacts on prices and job losses raise concerns.
Trump exempts some automakers from Canada, Mexico tariffs for one month
President Donald Trump exempted automakers from 25% tariffs on Canada and Mexico for one month, contingent on compliance with existing trade rules. The move, aimed at easing trade tensions, led to a rebound in auto stocks but maintained pressure on both countries regarding fentanyl smuggling.
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