President Trump announced that the US is likely to begin notifying trading partners on Friday about new tariffs on their exports, set to take effect on August 1. He reiterated his preference for simple agreements over complex negotiations, ahead of his initial July 9 deadline for countries to reach deals with the US.
Trump set to start notifying countries of tariffs up to 70%
India and EFTA trade agreement may start soon. Piyush Goyal says it could happen in a couple of months. The agreement involves 100 billion USD investment in India. India issued many quality control orders in the last 10 years. This is to stop import of bad products. Goyal wants more testing labs and better product […]
Will only sign mutually beneficial pact, won’t sign any deal under deadline: Piyush Goyal on India-US trade deal
5 months ago
Commerce and Industry Minister Piyush Goyal affirmed that India will prioritize mutually beneficial trade agreements, avoiding rushed deals under external deadlines. Negotiations with the US are ongoing, with India emphasizing that any agreement must align with its national interests. Discussions continue with various nations, including the EU, New Zealand, and others, while seeking a full […]
India has proposed retaliatory tariffs against the United States. This action is under World Trade Organisation norms. It responds to American tariffs on the automobile sector. The US tariffs impact $2.895 billion of Indian imports. India seeks consultations with the US after Washington increased tariffs. This is the second time India has proposed retaliatory tariffs […]
India to gain from lower US tariffs: Moody’s
5 months ago
Moody’s Ratings suggests India stands to gain from lower US tariffs compared to other Asia-Pacific nations, potentially boosting investment and its manufacturing hub ambitions. FTAs with the UK and EU could further aid this progress. However, US reshoring initiatives might limit India’s gains, despite recent reciprocal tariffs imposed by the US on Indian goods.
India is considering allowing imports of specific genetically modified farm products for animal feed as part of a potential trade agreement with the US. However, New Delhi is firm on not providing market access concessions in the dairy and agricultural sectors. The trade deal talks are nearing completion and could be announced before the US […]
S. Jaishankar has conveyed India’s worries to US Senator Lindsey Graham regarding the proposed bill. The bill suggests a 500% tariff on nations importing Russian energy. India seeks a waiver and has discussed its energy and security interests. Graham claims Trump supports the bill. Jaishankar also addressed the need for greater international cooperation against terrorism.
Kerala expresses worry about the India-US trade deal. The state fears negative impacts on crops like coconut and rubber. Agriculture Minister P Prasad urges consultation with states. He opposes GM crops due to ecological concerns. Trade negotiators are in the US to secure a deal. NITI Aayog’s GM soyabean recommendation faces opposition. Kerala seeks protection […]
China’s export restrictions on critical minerals are a wake-up call for India, highlighting the urgent need to reduce reliance on Beijing. GTRI suggests reverse-engineering imports, incentivizing domestic production, and investing in deep-tech manufacturing. India’s dependence on Chinese goods, including electronics and batteries, has deepened strategic vulnerabilities, necessitating immediate action.
In response to recent maritime disasters, the Directorate General of Shipping proposes a mandate requiring Indian ports handling over 10 MMT of cargo annually to designate a tug for emergency response. This initiative aims to address vulnerabilities in the current framework, highlighted by incidents like the MSC ELSA 3 sinking and WAN HAI 503 fire.