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Morning news wrap: Trump announces 50% tariff on steel imports; Colombia withdraws pro-Pakistan statement after Tharoor’s disappointment | India News – Times of India

Today’s news wrap includes updates on Donald Trump’s tariffs, foreign delegations India-Pakistan relations among others. Trump announced a steep hike in steel import tariffs—from 25% to 50%—aimed at safeguarding the American steel industry, while also reiterating his claim of averting a potential nuclear conflict between India and Pakistan during his tenure. Meanwhile, all-party delegation led…

Trump announces plans to double steel tariffs on imports from 25% to 50%

alishpagda08@gmail.com2 days ago05 mins

US President Donald Trump on Friday announced plans to double tariffs on foreign steel imports, raising the rate from 25 per cent to 50 per cent in a move aimed at boosting the US steel industry. Speaking at US Steel’s Mon Valley Works–Irvin Plant in Pennsylvania, Trump said the hike would further protect domestic steel…

US economy contracts 0.2% in Q1 amid tariff-driven disruption; imports, weak spending weigh on growth – Times of India

alishpagda08@gmail.com3 days ago04 mins

The US economy contracted at a 0.2% annual pace from January through March, marking the first quarterly decline in three years, as President Donald Trump’s trade policies disrupted business activity. The Commerce Department released the revised estimate Thursday, slightly improving on its initial figure.The drop in gross domestic product (GDP) — the broadest measure of…

India set to meet domestic wheat demand without imports as stocks rebound beyond forecast – Times of India

alishpagda08@gmail.com4 days ago06 mins

A bumper wheat harvest in India is replenishing government stockpiles at a rapid pace, easing fears that the country would need to import wheat for the first time since 2017. This turnaround could weigh on global wheat prices, which have already seen a sharp decline from 2022 peaks.India, the world’s second-largest wheat producer, had banned…

India’s Russian crude imports surge to 10-month high on strong ESPO demand

alishpagda08@gmail.com1 week ago03 mins

India’s imports of Russian crude oil are set to reach nearly 1.8 million barrels per day in May—the highest level in ten months, according to ship tracking data from Kpler. The surge is driven largely by increased purchases of lighter grades like the ESPO Blend, as Indian refiners respond to favorable market conditions. The strong…

All trade routes closed for Pakistan: India scrutinising imports from UAE, Iran & other Gulf countries to spot Pakistani goods – Times of India

alishpagda08@gmail.com2 weeks ago05 mins

Indian government has imposed a comprehensive ban on Pakistan goods. (AI image) Crackdown against Pakistan goods: India is keeping a hawk’s eye and conducting thorough inspections of imports from the UAE, Iran and other Gulf nations, along with specific transshipment hubs to prevent indirect entry of Pakistani goods into the country through these channels.Following the…

Pahalgam attack fallout: Pakistan shuts ports for Indian ships after New Delhi bans imports from Islamabad – The Times of India

alishpagda08@gmail.com4 weeks ago03 mins

NEW DELHI: In a retaliatory move, Pakistan has shut its ports for ships coming from India after the latter banned imports from the neighbouring nation in another economic crackdown after the Pahalgam terror attack.“In view of the recent development of maritime situation with neighbouring country, Pakistan in order to safeguard maritime sovereignty, economic interest and…

Trump’s Tariff on Cheap Chinese Imports Will Cost Big Tech Billions

alishpagda08@gmail.com4 weeks ago08 mins

The expansion of the loophole for tariff-free shipments of goods nearly a decade ago gave rise to Temu, Shein and other low-cost online retailers offering items straight from Chinese factories at unfathomable discounts. It also unleashed something else — a cascade of billions of dollars of digital advertising that provided a windfall for Meta, Alphabet…

China Is Weighing Tariff Exemptions on Some U.S. Imports

alishpagda08@gmail.com1 month ago06 mins

The Chinese government is considering whether to exclude some essential products from its retaliatory 125 percent tariffs on American goods, said the head of an American business group in China. Officials from China’s commerce ministry canvassed businesses in China to identify imports from the United States that are crucial to supply chains and vulnerable to…

US slaps up to 3,521% duties on Southeast Asian solar imports – Times of India

alishpagda08@gmail.com1 month ago04 mins

AI-generated image (Credit: Lexica) The United States has announced imposition of substantial new duties reaching up to 3,521 per cent on solar imports from four Southeast Asian nations, supporting domestic manufacturers whilst creating challenges for the nation’s renewable energy development.The duties, announced on Monday, follow a year-long trade investigation that claims that solar manufacturers in…