Trump’s tariffs on Canada, Mexico, and China aim to close a loophole that allowed duty-free imports of small packages under $800, targeting especially Chinese e-commerce retailers. This move will impact companies like Alibaba and Shein, which heavily relied on the de minimis exemption to ship goods directly to US consumers.
Trump tariffs can plug loophole that helped Chinese retailers
The Union Budget presented by Finance Minister Nirmala Sitharaman received positive feedback from UK businesses and investors for its focus on economic growth, private investment, and policy reforms. Highlights include simplifying FDI conditions, promoting skilling, and fostering a trust-based economic governance approach.
India’s Budget proposes an Export Promotion Mission and the creation of BharatTradeNet, a digital infrastructure to simplify trade compliance processes and accelerate transactions. The mission aims to assist smaller firms with export credit and support, tackling non-tariff measures, and enhancing domestic manufacturing capacities to integrate with global supply chains.
Union Minister Piyush Goyal announced that commerce, MSME, and finance ministries will collaborate to identify sectors needing support under the Rs 2,250 crore Export Promotion Mission. This initiative aims to boost India’s exports by providing affordable credit, cross-border factoring support, and assistance for MSMEs to tackle non-tariff barriers. The mission targets sectors like textiles, marine, […]
India’s forex reserves increased by $5.5 billion to $629.55 billion as of January 24, 2025, after a decline of $1.8 billion the previous week. The Reserve Bank of India continues to manage liquidity and prevent sharp rupee depreciation by intervening in the market as necessary.
India needs a new strategic trade roadmap amid shifting global trade dynamics and rising protectionism. The Economic Survey 2024-25 emphasizes reducing trade costs and boosting export competitiveness to enhance participation in global supply chains and increase market share despite ongoing trade tensions.
Measures on cards to spur coir exports
1 year ago
The government plans to amend the 72-year-old Coir Industry Act to boost exports, introducing value-added products like jute and rubber blended coir. Reducing the coir board size by 50% aims for faster decision-making. The move also envisions export facilitation centres for producers.
Prime Minister Modi’s upcoming visit to Washington DC will prioritize talks on a limited trade deal with the US, focusing on tariff concessions and investment agreements. This initiative, resembling the US-Japan trade agreement, aims to enhance market access for both nations and boost confidence, resuming promising negotiations from Trump’s first term.
India’s import of pulses in 2024 doubled from the previous year, reaching an all-time high of 6.63 million tonnes. The surge, particularly in yellow peas, aimed to curb retail inflation. The industry has urged for duties in 2025 to prevent market flooding and manage prices effectively.
Tea Association of India revealed the misuse of import laws, with imported low-quality tea being re-exported as Indian tea. This practice harms the reputation and financial stability of Indian tea, it said. The TAI has called for stricter enforcement, penalties, and reconsideration of duty-free imports to protect the industry and ensure fair trade practices.