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…
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…
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 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…
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…
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…
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…
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…
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…
NEW DELHI: Indian toy exporters are looking to tap into a “golden opportunity” created by the US imposing high tariffs on Chinese goods, as more American buyers search for alternative suppliers to reduce their dependence on China.“The US is a big market for toys and we will be benefited if China is subjected to high…