Donald Trump announced potential 10% tariffs on BRICS nations, including India, accusing the bloc of undermining the US dollar. During a Cabinet meeting, Trump warned that BRICS countries would soon face these additional charges. He asserted that the economic alliance was actively working to diminish the dollar’s global standing.
Trump says all BRICS nations, including India, to face additional 10% tariff
India is actively negotiating trade agreements with various countries, including the US. The focus is on national interest. Deals with the UK are expected to boost trade. Rural consumption is rising, and private investment shows signs of recovery. The government aims for 6.5% GDP growth in FY26.
India and the US are nearing a mini trade deal, aiming to finalize the first phase by September-October with a goal to double bilateral trade to $500 billion by 2030. While sensitive agricultural issues remain, the focus is currently on industrial goods.
India’s apparel, footwear exports to gain as US hikes tariffs on rival nations: Exporters
12 months ago
Indian apparel and footwear exporters anticipate a competitive boost in the US market as Washington imposes higher tariffs on several nations, including Bangladesh and Thailand. These elevated duties, set to take effect in August, are expected to benefit Indian products, particularly in the garment and leather sectors.
Amidst rising apple imports and US pressure to cut farm tariffs, Minister Goyal stated the government will review protections for homegrown apples, balancing grower support with consumer affordability. India imports 4.5-5 lakh tonnes of apples annually, with the US seeking preferential duty access.
Faced with potential US tariffs, India is exploring strategies to reduce its trade surplus. Increasing imports from the US in sectors like energy and aviation, alongside diversifying export markets, could mitigate tariff exposure. While challenges exist, these adjustments aim to strengthen Indo-US relations and balance India’s trade portfolio.
Trump says US ‘very close’ to a trade deal with India
12 months ago
India US Trade Deal News: President Trump announced the U.S. is nearing a trade agreement with India, extending the deadline for reciprocal tariffs to August 1. This follows finalized agreements with the UK and China. The administration has notified 14 other countries of substantial new tariffs starting in August, amidst ongoing free trade agreement talks […]
India and the US are on the verge of finalizing a mini trade deal, potentially excluding sensitive sectors like dairy and agriculture. The agreement, expected to be announced soon, will initially focus on trade in goods.
India-US likely to take final decision on mini trade deal within 48 hours, CNBC-TV18 reports
12 months ago
India and the United States may finalize a mini trade deal in the next 48 hours. CNBC-TV18 reports that discussions are complete. Negotiations for a larger deal will commence after July 9. The mini trade deal is expected to have average tariffs of 10%. Sources familiar with the matter provided this information. Further details are […]
Indian industry is prepared for any outcome regarding the proposed bilateral trade agreement with the United States, Confederation of Indian Industry (CII)said on Wednesday, emphasizing that the country’s business sector will not pursue deals that compromise national interests.