A tariff is a tax imposed by a government on imported or exported goods. It serves multiple purposes, including generating revenue, protecting domestic industries from foreign competition, and regulating trade. Tariffs can be ad valorem (a percentage of the good's value) or specific (a fixed amount per unit).
Governments use tariffs as a trade policy tool to make imported goods more expensive, encouraging consumers to buy locally produced alternatives. However, high tariffs can lead to trade wars, higher prices for consumers, and inefficiencies in domestic industries.
Free trade agreements and organizations like the World Trade Organization (WTO) aim to reduce tariff barriers to promote global trade. However, countries still use tariffs strategically, especially in sectors like agriculture, steel, and technology, to safeguard national interests.
Donald Trump has announced a significant development in US-China trade relations, claiming a deal has been reached subject to final approval.
The United States has issued a warning about an imminent Chinese threat to Taiwan. The US Defence Secretary stated that China is actively training to invade Taiwan and expanding military bases in the South China Sea. The US emphasised that any attempt by China to conquer Taiwan by force would have devastating consequences for the Indo-Pacific region and the world. This statement comes amid ongoing tensions between the US and China, including trade wars and reciprocal tariffs.
US President Donald Trump has once again claimed credit for the ceasefire between India and Pakistan, stating he stopped them from fighting and potentially averting a 'nuclear disaster'. Trump asserted that trade talks played a role in the de-escalation, contradicting India's stance. India maintains that the ceasefire was initiated after multiple requests from Pakistan's DGMO, not due to US intervention. The claim comes as Indian officials are in the US for diplomatic engagements.
A US federal court has ruled that President Trump does not have the power to impose reciprocal tariffs, giving the administration 10 days to scrap them.
A US trade court on Wednesday struck down former President Donald Trump's sweeping "Liberation Day" tariffs, ruling he overstepped his legal authority by imposing blanket import duties without congressional consent. The court dismissed all defences, including a White House claim that the tariffs helped facilitate a ceasefire between India and Pakistan.
An interim trade pact between India and the US may be agreed upon by June 25, according to sources. A team of US officials is expected to visit India next month for trade talks.
US President Donald Trump has threatened to impose a 25% tariff on iPhones manufactured outside the United States. Apple's CEO Tim Cook was urged to increase domestic production. The move could significantly impact Apple's global manufacturing strategy, particularly in India, which currently accounts for nearly 20% of global iPhone production. Experts warn that moving production to the US could potentially triple iPhone prices.
After threatening Apple with a 25 per cent tariff if it produces phones outside the US, President Donald Trump has now said that Samsung and other tech firms could be next in line to receive the same tariff and actions. "It would be more. It would also be Samsung and anybody that makes that product. Otherwise, it wouldn't be fair... When they build their plant here, there is no tariff," the US President said at a press conference. The Republican leader added that he had an understanding with Apple CEO Tim Cook. "He said he is going to India to build plants, and I said it is okay to go to India, but you are not going to sell it here without tariffs... iPhones, if they are going to be sold in America, I want them to be built in the US," Trump added.
Union Minister Piyush Goyal will lead a team to the United States for trade talks. India and the US are working to finalize the Bilateral Trade Agreement (BTA) by early July. The US President has proposed a trade agreement with India that would have no tariffs on a wide range of American products. The US President stated, 'India is one of the highest tariff nations in the world. It's very hard to sell into India.'
Pakistan has offered a zero tariff bilateral trade agreement to the United States, as reported by Geo News. This development comes after the US claimed to have brokered a ceasefire between Pakistan and India. The offer includes zero tariffs on selected tariff lines of mutual interest to expand bilateral trade. This move contrasts with India's stance of maintaining strong tariffs and not compromising on trade negotiations with the US.
US President Donald Trump has stirred controversy by telling Apple CEO Tim Cook not to expand production in India and claiming India has agreed to zero tariffs on many products. This comes just before important India-US trade talks. India has rejected Trump's claims about mediating between India and Pakistan. Experts suggest Trump's comments are aimed at pressuring India ahead of negotiations, while Indian officials maintain relations with Pakistan will remain bilateral. The transcript discusses US-India trade negotiations and President Trump's claims about brokering a ceasefire between India and Pakistan. Indian officials state there is no pressure to meet US deadlines and India is seeking a bilateral trade agreement by fall. The Congress party has demanded Prime Minister Modi break his silence on Trump's comments. Defence Minister Rajnath Singh emphasized that nuclear blackmail by Pakistan would not work. The transcript also covers Operation Sindoor and its impact on terror groups.
After remarks on the India-Pakistan ceasefire, trade and on Kashmir, US President Donald Trump has claimed that he spoke with Apple CEO Tim Cook and asked him not to expand Apple’s production in India.
US President Donald Trump claimed that India has offered the United States a trade deal with “literally zero tariffs".
Prime Minister Narendra Modi and US Vice President JD Vance on Monday acknowledged significant progress in negotiations toward an early trade agreement, according to statements from both offices. The development comes as New Delhi seeks to avert potential US tariffs and strengthen its ties with the Trump administration. Vance’s visit is also seen as paving the way for Donald Trump’s upcoming trip to India later this year for the Quad leaders' summit, which includes India, Australia, Japan, and the United States.
Prime Minister Narendra Modi met US Vice President JD Vance at his Delhi residence. The meeting, followed by a private dinner, comes amid ongoing negotiations for a bilateral trade agreement and just weeks after a pause on new US tariffs. Vance is on a four-day visit to India with his family and on Monday evening, JD Vance, his wife Usha and their three children were hosted by PM Modi at his residence.
Finance Minister Nirmala Sitharaman confirms India and the US are actively engaged in high-level trade talks. She states the goal is to have the first phase of an agreement by fall. The bilateral meeting between Prime Minister Modi and US Vice President will focus on tariffs and a trade pact. Sitharaman emphasises the importance of reaching an agreement beneficial to both countries.
The world has been rocked by exponential tariffs announced by US President Donald Trump in recent weeks, especially rattling China with a whopping 245 per cent levy.
President Donald Trump has imposed a staggering 245 per cent tariff on Chinese imports, intensifying the ongoing trade war between the two largest economic powers.
Chinese TikTokers are taking to the platform to roast American manufacturing with viral memes.
Tariffs between the United States and China will likely remain in place, and this continuation could result in significant challenges for both nations in terms of trade.
As the United States considers reinstating or increasing tariffs on a range of Chinese goods under a potential second Trump administration, India is emerging as a potential beneficiary of the shifting global trade landscape.
Steep American tariffs imposed by US President Donald Trump have upended India’s export outlook, hitting key sectors like engineering goods and auto components. Top experts weigh in on how Indian companies can convert the crisis into an opportunity. Check out the detailed report in the latest issue of India Today Magazine.
Donald Trump’s decision to exempt electronics from the new reciprocal tariffs spared tech giants like Apple from a potential crisis.
China has urged the US to cancel its reciprocal tariff policy, saying that it breaks the international trade rules. The statement came from China's commerce ministry.
The United States has exempted tariffs on laptops, smartphones, and other tech items in the ongoing trade war with China. This move is expected to benefit tech companies globally. Machines used to make semiconductors have also been exempted from tariffs. The decision comes as a relief for China, with the US 'blinking first' in the tariff standoff. As stated in the transcript, 'He would have made life very difficult for his own people, his own citizens, who are primarily the consumers of these products.'
Former US Ambassador Eric Garcetti highlighted growing India-US cooperation in counterterrorism and trade. He urged dialogue to resolve tariff tensions. Meanwhile, China raised tariffs in response to US hikes, prompting a firm statement from Xi Jinping.
United States Vice President JD Vance will visit India from 21 to 24 April, accompanied by his wife, Usha Vance. He will meet Prime Minister Narendra Modi and other officials, with trade talks high on the agenda.
Chinese President Xi Jinping hit out at the US after President Donald Trump's steep increase in tariffs on Chinese products brought Washington's extra rate on most products to 145 percent.
US President Donald Trump on Wednesday abruptly paused his newly imposed reciprocal tariff just 24 hours after it took effect, stoking fears of an impending trade war. The sudden move rattled global markets, fuelling recession concerns. Simultaneously, Trump hiked tariffs on China to 125%, up from the earlier 104%.
US Commerce Secretary Howard Ruckman states that the 90-day tariff pause was not influenced by market reactions. President Trump decided to pause tariffs on 75 countries, while hiking taxes on Chinese imports to 125%. Ruckman explains the decision as respecting countries willing to negotiate, maintaining 10% reciprocal tariffs across the board except for China. An analyst suggests that market concerns, particularly bond yields, did play a role in Trump's decision.
Donald Trump has announced a 125% tariff hike on Chinese goods while offering a 90-day pause on reciprocal tariffs for 75 countries that have been negotiating. China has responded defiantly, warning against bullying and blackmail. Meanwhile, China and the European Union are discussing closer trade ties, including negotiations on electric vehicles and investment cooperation, potentially forming a new alliance in response to U.S. trade policies.
Soon after US President Donald Trump unexpectedly reversed his stand on the controversial "reciprocal" tariffs on Wednesday—announcing a 90-day delay for most affected countries, with the exception of China—reporters questioned him about the reason behind his change of heart.
The tariff war between the United States and China rose to unprecedented levels on Wednesday as Donald Trump announced 104 per cent levies on the Asian economic giant after the latter announced it was hiking tariffs on the US to 84 per cent.
A 26% tariff on Indian exports to the USA has come into effect. Key sectors impacted include electronics, gems and jewellery, auto components, and agricultural products. The Union Cabinet is set to meet to discuss India's strategy and the impact on exporters. The Indian government is in touch with exporters to minimise the impact.
US President Trump has announced plans to levy hefty tariffs, possibly 20–26%, on pharmaceutical imports. The move could disrupt global pharma trade and severely impact India, which exports around $12.72 billion worth of medicines to the U.S. annually. The decision poses serious concerns for India’s pharma sector.
A 26% tariff on Indian exports to the USA has come into effect. Key sectors impacted include electronics, gems and jewellery, auto components, and agricultural products. The Union Cabinet is set to meet to discuss India's strategy and the impact on exporters. The Indian government is in touch with exporters to minimise the impact, while also working on a bilateral trade agreement with the US.
The United States has imposed a combined tariff of 104% on Chinese goods, escalating the trade war between the world's two largest economies. This move comes in response to China's retaliatory tariffs. The White House claims China is seeking a trade deal but must first reduce tariffs on American goods. The new tariffs on Beijing will come into effect from April 9th. China has firmly opposed American tariffs and vowed to announce countermeasures, asserting it will not be intimidated by 'blackmail or bullying'.
Former RBI Governor Raghuram Rajan has termed former US President Donald Trump’s tariff hikes a “self goal,” arguing that in the short run, they hurt American firms by increasing input costs. He advised India to negotiate tariffs sooner rather than later and improve its business environment to attract foreign investment.
Elon Musk has reportedly urged Donald Trump to hold back on China tariffs, citing concerns about their impact on the global economy and his own business interests, particularly Tesla.
Donald Trump has threatened a new 50% tariff on Chinese goods, escalating the ongoing trade war. This is in addition to existing tariffs, potentially pushing the total rate beyond 100% for certain goods.
