TRADE DEFICIT NATIONAL EMERGENCY
Cryptocurrency campaigners call for Swiss central bank to hold bitcoin
Cryptocurrency campaigners have stepped up calls for the Swiss National Bank to buy bitcoin, saying the global economic turmoil triggered by U.S. President Donald Trump's tariffs made it more important for the central bank to diversify its reserves.
IMF warns of 'intensified' risks to public finances amid US trade war
Donald Trump's tariff plans have increased the risks to public finances, the International Monetary Fund said Wednesday, warning countries to get their spending plans under control and prepare for "sharper" trade-offs. "Fiscal policy now faces a sharper trade-off between reducing debt, building buffers against uncertainties and accommodating spending pressures, all amidst weaker growth prospects, higher financing costs, and heightened risks," it added.
US Treasury Secy says India likely to be first to sign trade deal with Washington
US Treasury Secretary Scott Bessent told reporters he expects India to negotiate the first bilateral trade pact with the United States ahead of the July 8 deadline, when a 90-day pause on a 26 percent “reciprocal” tariff on Indian goods is set to expire.
Emerging markets to benefit from dollar index stabilization: Matt Orton
What the market has lacked for quite a while since April 2nd is any form of certainty. And while I do not think we have any certainty from these discussions, there is at least a positive movement towards trying to rectify some of these trade issues.
As Trump’s 90-day tariff deadline approaches, fear will again overtake greed
Amidst tariff concerns, analysts debate the potential impact of Trump's trade policies. A temporary pause on reciprocal tariffs offered some optimism, yet skepticism remains about a lasting resolution. Trump's determination to reshape US manufacturing and address trade deficits suggests further action beyond the 90-day window.
U.S. Treasury Secretary Scott Bessent is moving the market like a pendulum; here’s what he said that sent stocks surging before paring gains
US Treasury Secretary Scott Bessent's comments regarding the US-China trade war's unsustainability briefly boosted the S&P 500. The market's initial optimism faded later in the day. The absence of a transcript raises the possibility of misinterpretation, despite previous statements highlighting the US advantage in trade relations. Trump has also expressed optimism about reaching a deal with China.
- Go To Page 1
India needs 7.3% annual growth to be a developed country by 2047: CSEP
India needs a 7.3% annual growth rate until 2047 to achieve developed nation status, requiring states to lead reforms in land, labor, capital, education, and health. A uniform strategy is imprudent due to states' heterogeneity. Gujarat, Karnataka, and others should remove obstacles, while Rajasthan, Bihar, and others should improve growth attributes.
US to demand full market access for Amazon, Walmart's Flipkart in trade talks with India: FT report
The US is pressing India for full ecommerce market access for Amazon and Walmart during bilateral trade negotiations, potentially impacting Reliance Group's retail ventures. This push occurs amidst looming reciprocal tariffs from the Trump administration. The discussions aim for a level playing field, covering various sectors. India currently restricts US ecommerce firms to marketplace operations.
India likely to get more entangled in trade war amid supply chain shift: Mark Mobius
Mark Mobius suggests India's growing role in global supply chains exposes it to trade war vulnerabilities and geopolitical uncertainties. While India can potentially replace China in the supply chain, rapid reforms are needed to liberalize investment and trade systems. Easing bureaucratic hurdles is crucial to attract global manufacturers like Apple and boost exports.
India must engage with China, US on equal terms: GTRI
Think tank GTRI advises India to maintain strategic autonomy while engaging with both China and the US, prioritizing economic interests and global trade principles. This comes amid China's warning of retaliation against nations aligning with US trade efforts. India's trade deficit with China widened to USD 99.2 billion in 2024-25, even as the US remains its largest trading partner.
Primary focus of Modi govt to transform India into Viksit Bharat by 2047: Nirmala Sitharaman
Finance Minister Nirmala Sitharaman emphasized the Modi government's commitment to transforming India into a developed nation by 2047, prioritizing sunrise sectors and fiscal prudence. She highlighted India's success in managing fiscal deficits and the Prime Minister's focus on women, the poor, youth, and farmers.
Trump’s tariff tantrums: Expect modest returns from the stock market in CY25
Trump’s aggressive reciprocal tariffs triggered market panic, inflation concerns, and fears of stagflation, threatening global growth. India, with domestic-driven demand, may stay resilient. However, modest stock market returns are expected unless earnings rebound. Investors may prefer fairly valued domestic sectors.
The trade adviser who hates trade
Following a prison stint for defying a January 6th investigation subpoena, Peter Navarro has returned to the Trump administration with renewed influence over trade policy.
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.
India, US lock in 19-chapter trade deal terms, to open talks in Washington on April 23
India and the US have finalised terms of reference for a proposed bilateral trade agreement, covering 19 chapters on issues like tariffs, goods, non-tariff barriers and customs facilitation, official sources said. A three-day round of talks will begin in Washington on April 23 to resolve pending issues during the 90-day tariff pause.
Govt appoints Rajesh Agarwal as next commerce secretary
Rajesh Agarwal, a 1994-batch IAS officer, has been appointed as the next commerce secretary, succeeding Sunil Barthwal on September 30, 2025. He will take charge amidst global trade challenges, including US tariffs and the Russia-Ukraine conflict.
Gold imports rise 192% to $4.47 bn in March
India's gold imports surged by 192.13% to $4.47 billion in March, driven by rising prices and strong investor confidence, contributing to a widened trade deficit of $21.54 billion. For the fiscal year 2024-25, gold imports increased by 27.27% to $58 billion, impacting the Current Account Deficit, while silver imports decreased.
California sues US government over Trump tariffs
California is suing the federal government over Donald Trump's on-again-off-again tariffs, the governor and attorney general said Wednesday, claiming the American president does not have the right to impose them. "We're asking the court to rein in the president... and uphold the Constitution," Attorney General Rob Bonta told reporters.
Japan reports $63 billion trade surplus with US as it talks with Trump on tariffs
Japan's fiscal year saw a trade deficit of 5.2 trillion yen, despite a significant surplus of 9 trillion yen with the US. This surplus is a point of contention with President Trump, who has threatened higher tariffs. While Japan's overall exports rose, a weaker yen made imports more expensive, and some Asian exports may be rerouted to avoid US tariffs.
ETMarkets Smart Talk: Don’t rush to gold despite record highs, says Sahil Shah amid market uncertainty
FY25 indeed ended on a turbulent note. The broader markets witnessed sharp corrections, saw declines exceeding 15% over the last quarter. This correction was largely a result of valuations recalibrating to align with a new, more moderate growth outlook.
China floods Indian markets as trade deficit soars past $99 billion
India's trade deficit with China soared to a record $99.2 billion in the last fiscal year, driven by increased imports of electronics and industrial inputs. Simultaneously, India recorded a $41.2 billion trade surplus with the US. Concerns over potential dumping from China, exacerbated by US tariffs, have prompted India to enhance its import monitoring mechanisms.
Meet Stephen Miran, the Harvard hawk behind Trump’s trade blitz eyeing a Mar-a-Lago accord
Stephen Miran, Donald Trump’s newly appointed chief economic adviser, has outlined a radical plan to reshape the global trade system by weakening the US dollar and using tariffs as leverage. His essay proposes a new currency pact modelled on the 1985 Plaza Accord. Critics warn the strategy could destabilise financial markets and damage investor confidence. Miran, however, believes the approach will correct long-standing trade imbalances and reposition America as a competitive industrial economy.
India's trade deficit with China widens to record $99.2 bln amid dumping concerns
India's trade deficit with China reached $99.2 billion in fiscal year 2024/25, fueled by increased electronics and consumer durables imports. As U.S. tariffs on Chinese goods rise, India fears further import surges. Experts warn of growing economic dependencies and potential re-routing of Chinese exports, prompting government monitoring and concerns about bypassing U.S. tariffs.
India's trade ties with US goes from strength to strength even as its deficit with China swells
In fiscal year 2024-25, the US maintained its lead as India's largest trading partner for the fourth consecutive year, with bilateral trade reaching $131.84 billion. While trade with the U.S. surged, India's trade deficit with China expanded to $99.2 billion.
Move beyond Trump’s tariff war: Former Niti Aayog CEO Amitabh Kant warns of a deeper global economic reset
The breakdown of the old economic structures opens new doors for India to emerge as a resilient, alternative manufacturing and digital powerhouse. However, it must move swiftly and decisively to grab the chance, he said.
With distributed eco heft and diverse interests, a new global currency on blockchain?
Donald Trump's trade war finds justification in Stephen Miran's argument that the US isn't compensated for providing global stability and the dollar as a reserve currency. Miran suggests tariffs to offset the dollar's overvaluation, a problem stemming from the US rejecting Keynes' alternative at Bretton Woods.
Opec cuts 2025 oil demand forecast, offering relief to import-heavy economies like India amid trade war fears
Opec's revised forecast of slower global oil demand growth in 2025 offers India a potential economic advantage. Lower energy prices could ease inflationary pressures, allowing the RBI to pursue growth-oriented policies. Stable crude prices would also aid in managing the current account balance, capital flows, and fiscal deficit.
India's trade deficit widens to $21.54 bn in March
India's trade deficit significantly widened to $21.54 billion in March, exceeding economists' expectations of $16 billion, as global trade faces volatility due to tariff concerns. Merchandise exports for FY25 reached $437.42 billion, slightly surpassing the $437.07 billion recorded in FY24. March saw merchandise exports at $41.97 billion and imports at $64.51 billion.
Trump administration sued over tariffs in US Court of International Trade
The Liberty Justice Center has filed a lawsuit in the U.S. Court of International Trade, challenging President Trump's tariffs on foreign trading partners. Representing five small U.S. businesses, the lawsuit argues that the president overstepped his authority by imposing these duties.
Load More
