New York: The sell-off in Wall Street stocks deepened in mid-morning trading Thursday, with the S&P 500 losing more than four percent following US President Donald Trump’s sweeping tariff announcement. Trump’s broadly crafted new levies battered leading names in banking, technology, apparel and most other areas. Among the S&P 500’s 11 sectors, only consumer staples … Read more
Ottawa: Canada said it would impose a 25 percent tariff on some autos imported from the United States, retaliating against President Donald Trump’s levies that came into affect on Thursday. Prime Minister Mark Carney announced “25 percent tariffs on all vehicles imported from the United States that are not compliant with CUSMA,” using the Canadian … Read more
Beijing: Global ratings agency Fitch downgraded China’s long-term foreign-currency issuer default rating from ‘A+’ to ‘A’ on Thursday, noting weakening finances and debt concerns. “The downgrade reflects our expectations of a continued weakening of China’s public finances and a rapidly rising public debt trajectory during the country’s economic transition,” Fitch said in a statement. It … Read more
Washington: The dollar and equity markets tumbled Thursday after President Donald Trump’s latest tariffs salvo against countries worldwide, fanning a trade war that many fear will spark recession and ramp up inflation. The dollar slumped by as much as 2.6 percent versus the euro, its biggest intraday plunge in a decade, and suffered sharp losses … Read more
New Delhi: The United States’ move to impose reciprocal tariffs on Indian exports “is going to devastate our economy”, Leader of the Opposition Rahul Gandhi said in Lok Sabha today. Criticising the Narendra Modi government’s foreign policy, he said, “You have given China 4,000 sq km of land. On the other side, our ally suddenly … Read more
US President Donald Trump has imposed retaliatory tariffs on almost all countries, including its allies, to protect and boost the American economy. On Wednesday, Trump declared a national economic emergency and imposed a minimum 10 per cent tariff on imports. Soon after the 47th President announced tariffs on countries and places — including some, where … Read more
New Delhi: The commerce ministry is analysing the impact of 26 per cent reciprocal tariffs or import duties imposed by the US on India, a senior government official said on Thursday. According to the official, the universal 10 per cent tariffs will come into effect on all imports into the US from April 5 and … Read more
Washington: After weeks of anticipation and speculation, President Donald Trump followed through on his tariff threats by declaring on Wednesday a 10% baseline tax on imports from all countries and higher tariff rates on dozens of nations that run trade surpluses with the United States. In announcing what he has called reciprocal tariffs, Trump was … Read more
New Delhi: US Tariff Announcement Live Updates: US President Donald Trump is set to impose sweeping new “Liberation Day” tariffs on Wednesday, a move that could spark a global trade war. The 78-year-old President will unveil the measures and plans in the Rose Garden of the White House at 4pm EST (1.30am IST) and the … Read more
Trump will announce the “Liberation Day” tariffs later tonight. London: Britain’s finance minister on Wednesday said the UK will not “rush into action” over impending US tariffs, as the government hopes to reach a post-Brexit trade deal with Washington. “The prize on offer is a good economic agreement between us and the United States; we … Read more
White Press Secretary after press briefing on Tariffs. Berlin: Germany warned Wednesday that trade wars hurt “both sides” as Europe’s biggest economy braces for US President Donald Trump to announce wide-ranging new “Liberation Day” tariffs. “The costs of a trade war do not fall on one side but can become expensive for both sides,” government … Read more
US President Donald Trump will unleash his sweeping global tariffs today amid fears that equity markets could go on a whirlwind and force countries to take emergency measures. It will most likely result in an all-out trade war. Gripped by a stark frenzy, the world could see an economic meltdown due to Trump’s reciprocal tariffs, … Read more