India tariff news LIVE: Indian stock market goes from top to least preferred in Asia for fund managers, survey shows

India tariff news LIVE updates: US President Donald Trump doubled his tariffs on India to 50 per cent last week, citing Russian oil purchase, and prompting a swift reaction by New Delhi which called the duties “unfair, unjustified and unreasonable actions.” Since the doubling of tariffs on India, Donald Trump has asserted that the Russian economy has got a “big blow” with his move.…Read More

US tariffs on India | Key points

– The United States imposed 25 per cent tariffs on India before its August 1 deadline kicked in, followed by additional 25 per cent tariffs that it announced on August 6 as punishment for buying Russian oil, taking the total tariffs on India to 50 per cent.

– While the initial 25 per cent tariffs came into effect on August 7, the remaining 25 per cent will come into effect by August 27.

– Shortly after US President Donald Trump announced an additional 25 percent against India on August 6, the Indian government stated it will move to “protect national interest” and termed the action “unfair, unjustified and unreasonable”.

– US President Donald Trump on Monday said his tariffs on India for purchasing Russian oil was a “big blow” to Moscow’s economy with a 50 per cent duty put on Delhi, referring to it on Monday as Russia’s “largest or second largest oil buyer”.

– Trump’s tariffs on India have been discussed and slammed across political circles since then, with many slamming the US President for the “economic blackmail”.

Follow all the updates here:

Aug 14, 2025 12:29 AM

IST

General Tariff news LIVE: ‘Atmanirbharta mindset to deal with global turbulence,’ says S Jaishankar

Amid the tariffs imposed by the United States on India, External Affairs Minister S Jaishankar said that the “atmanirbharta” was needed to “deal with global turbulence”. “…it is also the basis to strengthen our self-confidence, to increase our resilience, and to lay the foundation for Viksit Bharat,” Jaishankar said.

“We are definitely living in a volatile and uncertain era, having experienced the successive impact of the Covid pandemic, of multiple conflicts, many of which are still going on, and of trade upheavals,” the EAM added.

Aug 13, 2025 10:52 PM

IST

General Tariff news LIVE: US tariffs spark new pledge with old fears unlocked

Allegations of terror funding, invocation of patriotism, the bogey of “love jihad”, and even destination weddings have made appearances amid a renewed push for ‘swadeshi’ (locally produced) goods in India after American President Donald Trump shocked with high tariffs on its exports to the US.

“Take a pledge on Raksha Bandhan to protect the country; that we will buy swadeshi,” minister Shivraj Singh Chouhan said as he celebrated the Hindu festival centered around brothers protecting women. Read more.

General Tariff news LIVE: 55% of India’s merchandise export to US face Trump tariff: Govt tells Lok Sabha

More than half of the total export value of India’s merchandise to the United States is likely to be impacted by Washington’s reciprocal tariff move, the Union finance ministry informed the Parliament on Tuesday, while clarifying that the secondary tariff imposed by US President Donald Trump will not be applicable to India’s export of pharmaceutical and electronic goods to America.

“It is estimated that around 55% of the total value of India’s merchandise exports to the US is subject to this reciprocal tariff,” Union minister of state for finance Pankaj Chaudhary said in a written response to Lok Sabha MP Abhishek Banerjee. Read more.

General Tariff news LIVE: US Treasury Secretary sees Nvidia, AMD China agreements as a model for others

Tariff news LIVE: Treasury Secretary Scott Bessent said the recent deal to allow Nvidia Corp. and Advanced Micro Devices Inc. to resume lower-end AI chip sales to China, on the condition they give the US government a 15% cut of the related revenue, could serve as a model for others.

“I think we could see it in other industries over time,” Bessent said Wednesday in a television interview on Bloomberg Surveillance. “Right now, this is unique, but now that we have the model and the beta test, why not expand it?” (Bloomberg)

General Tariff news LIVE: Norway says it is still in talks with U.S. over tariffs

Tariff news LIVE: Norway and the United States are still in talks regarding trade tariffs, Norwegian Finance Minister Jens Stoltenberg said on Wednesday.

The White House on July 31 announced a 15% tariff on imports from Norway. (Reuters)

General Tariff news LIVE: What are the tariffs Trump has imposed against India?

Tariff news LIVE: US President Donald Trump signed an executive order doubling India tariff to 50 per cent last week. As per the official statement from the White House, this additional 25 per cent duties over India’s purchase of Russian oil.

Ahead of this, Trump had already imposed a 25 per cent tariff on Indian goods going to the US on July 30. This first tariff was announced due to India’s high rates for US goods and a penalty for New Delhi’s close ties with Russia and participation in BRICS.

General Tariff news LIVE: US tariffs will have 50% to 63.9% impact on many Indian merchandise exports

The cumulative 50 per cent tariffs imposed by US President Donald Trump on Indian goods will come into effect a fortnight from now, unless there is a breakthrough in terms of a trade deal between the two countries, according to an ANI report.

In addition to a 50 per cent flat tariff on Indian goods, additional most-favoured nation (MFN) duties will also apply to some merchandise goods, the report states.

General Tariff news LIVE: Russian foreign minister to meet EAM Jaishankar next week

Tariff news LIVE: Russian Foreign Minister Sergey Lavrov will meet Indian Foreign Minister S. Jaishankar on August 21 in Moscow, the Russian Ministry of Foreign Affairs said in a post on X. The post stated, “On August 21, FM Sergey Lavrov will hold talks with FM of India S. Jaishankar in Moscow. The Ministers will discuss key issues on our bilateral agenda, as well as key aspects of cooperation within international frameworks.”

This meeting between the two leaders comes as Russia and India find themselves in Trump’s focus amid the ongoing Ukraine war. Last week, Trump imposed an additional 25 percent tariff on India for its purchase of Russian oil. With this additional 25 percent tariff, India finds itself slammed with a 50 percent levy.

General Tariff news LIVE: Trump’s 50% tariff on India to not impact growth, says S&P director

Tariff news LIVE: S&P Global Ratings Director YeeFarn Phua said on Wednesday that Trump tariffs will not have any impact on India’s growth.

As per the S&P director, the 50 percent tariff on India will not impact the country’s growth as it is not a trade-oriented economy, and its sovereign ratings outlook will continue to remain positive,

In May last year, S&P had upgraded the outlook on India’s sovereign rating of ‘BBB-‘ to positive, citing robust economic growth.

Replying to a query on whether the tariff imposition poses downside risks to the positive outlook on India, YeeFarn said, “I don’t think the tariffs imposed on India will have an impact in terms of economic growth, largely because India is not a very trade-oriented economy. And if you look at India’s exposure to the US in terms of exports to GDP, it is just about 2 per cent”.

General Tariff news LIVE: India, China work to rebuild ties amid tiff with Trump

Tariff news LIVE: India and China are working to restore their economic links which were strained by a deadly 2020 border clash. The latest sign of this restoration comes with Prime Minister Narendra Modi’s upcoming visit for the Shanghai Cooperation Organisation held in Tianjin from Aug. 31, the people said.

Ahead of this visit, Bloomberg reported that both nations are also working to resume direct flights and this deal is expected to be formally announced during Modi’s visit to China.

India and China’s efforts to rebuild come as India faces 50 percent tariffs from the US due to its purchase of Russian oil, whereas China has managed to get another 90-day pause on Trump’s tariff.

General Tariff news LIVE: South Korea president to meet Japan PM ahead of Trump summit

Tariff news LIVE: South Korean President Lee Jae Myung will meet Japanese Prime Minister Shigeru Ishiba in Tokyo next week before flying to Washington for a summit with President Donald Trump.

The visit between the South Korean and Japanese leader comes after both countries secured trade deals with the US, shielding their trade economies from high tariffs imposed by Trump.

The separate agreements negotiated their rates of reciprocal duties down to 15% from the originally proposed 25%, but only after pledging hundreds of billions of dollars in U.S. investments.

General Tariff news LIVE: Himachal farmers, workers join nationwide protest against US tariffs, govt’s ‘anti-farming policies’

Tariff news LIVE: Amid the pressure caused by US’ 50 percent tariffs on India, farmers and workers across Himachal Pradesh have joined a nationwide protest called by the Sanyukt Kisan Manch, voicing their opposition to the government’s “anti-farming and neo-liberal economic policies”.

The protest in Shimla was organised at four designated spots and was marked by symbolic demonstrations and the submission of memorandums to authorities.

Speaking to ANI, Sohan Singh Thakur, President of the Himachal Pradesh Apple Growers’ Association, said that apart from the tariff expected to be imposed on farming products, there is also the issue of land eviction.

“This protest has been held as part of a national call against the anti-farmer and anti-horticulturist policies that are being implemented in the country. In Himachal Pradesh, the local issues–especially the eviction of farmers in the name of land acquisition have also compelled us to demonstrate. Similar protests are being organised across the entire state and nationwide,” he told ANI.

General Tariff news LIVE: Gold rises as US Fed rate cut expectation gains traction

Tariff news LIVE: Gold rose on Wednesday as expectations of a US Federal Reserve interest rate cut in September gained traction following mild inflation data, while a weaker dollar bolstered bullion’s demand.

Spot gold gained 0.3% to $3,354.77 per ounce, as of 0802 GMT. US gold futures for December delivery inched up 0.1% at $3,403.20.

“Market participants are starting to debate if the Fed will do a 50 basis point cut at its September meeting following the comments from US Treasury Secretary Bessent yesterday, with a focus on incoming weaker US economic data supporting that,” said UBS commodity analyst Giovanni Staunovo.

(via Reuters)

General Tariff news LIVE: South Africa dismisses US over ‘deeply flawed’ human rights report

Tariff news LIVE: South Africa’s government slammed a report published by US President Donald Trump’s administration that said the human-rights situation in the African nation “significantly worsened” last year.

The review published by the State Department late on Tuesday echoed some of Trump’s criticisms of the country, including Pretoria’s adoption of a land-expropriation policy. It also raised concern about alleged extra-judicial killings and repression of racial minorities.

Earlier this month, the US imposed a 30 per cent tariff on imports from South Africa. The levy places South Africa among four countries — the others being Brazil, China and Switzerland — that have effective tariffs that are “significantly higher” than their competitors, according to Oxford Economics.

(Via Bloomberg)

General India tariff news LIVE:Trump calls Indian duties ‘big blow’ to Russia

India tariff news LIVE: US President Donald Trump on Monday said his tariffs on India for purchasing Russian oil was a “big blow” to Moscow’s economy. In what appeared to be a reference to India, Trump said at the White House, “Doesn’t help when the President of the United States tells their largest or second-largest oil buyer that we’re putting a 50% tariff on you if you buy oil from Russia. That was a big blow.” Read full report

Aug 13, 2025 12:17 PM

IST

General India tariff news LIVE: India goes from top to least preferred Asian stock market for fund managers, survey shows

India tariff news LIVE: India has gone from fund managers’ top Asian stock market pick to their least preferred in just three months amid US President Donald Trump’s tariffs, according to a Bank of America Corp. survey, cited in a Bloomberg report.

In the most recent fund manager survey, 30 per cent said they are underweight on India, followed by 20 per cent for Thailand and 10 per cent for Malaysia. Japan fared the best, with China taking the No. 2 spot. A total of 99 panelists with $183 billion of assets responded to the survey’s regional questions.

(Via Bloomberg)

Aug 13, 2025 12:00 PM

IST

General India tariff news LIVE: What are Trump’s tariffs on India

US President Donald Trump has imposed a total 50 per cent tariffs on Indian goods. Trump imposed 25 per cent tariffs on India before its August 1 deadline kicked in, followed by additional 25 per cent tariffs that it announced on August 6 as punishment for buying Russian oil, taking the total tariffs on India to 50 per cent.

While the initial 25 per cent tariffs came into effect on August 7, the remaining 25 per cent will come into effect by August 27.

Aug 13, 2025 11:41 AM

IST

General India tariff news LIVE: India-China ‘restoring’ economic links amid Trump tariff threats, says report

India tariff news LIVE: Amid trade tensions with the US owing to President Trump’s tariffs, India and China are reportedly “restoring economic links” strained by the deadly 2020 Galwan clash.

PM Modi’s latest move is to resume direct flights with China as soon as next month, a Bloomberg report said, citing people familiar with the negotiations who asked for anonymity to discuss private matters.

The effort gained momentum in recent weeks, and airlines have been briefed on the proposal, the above-mentioned people said.

Aug 13, 2025 11:12 AM

IST

General India tariff news LIVE: PM Modi likely to meet Trump next month in US, report says

India tariff news LIVE: Prime Minister Narendra Modi is likely to visit the United States to address the annual high-level session of the United Nations General Assembly (UNGA) in September, news agency PTI reported on Wednesday, citing a provisional list of speakers issued by the UN.

US President Donald Trump is set to address the session, his first in his second term holding the post.

PM Narendra Modi is likely to meet President Donald Trump during the visit, the Indian Express newspaper reported on Wednesday, citing sources.

PM Modi’s expected visit to New York comes after the imposition of Trump’s reciprocal tariffs on Indian imports and heightened trade tensions between India and the US.

Aug 13, 2025 10:53 AM

IST

General India tariff news LIVE: What India said on Trump’s tariffs

India tariff news LIVE: Shortly after US President Donald Trump announced an additional 25 percent against India on August 6, the Indian government issued a statement, saying it will move to “protect national interest” and termed the action “unfair, unjustified and unreasonable”.

Here’s the full statement of India on Trump tariffs:

The United States has in recent days targeted India’s oil imports from Russia.

2. We have already made clear our position on these issues, including the fact that our imports are based on market factors and done with the overall objective of ensuring the energy security of 1.4 billion people of India.

3. It is therefore extremely unfortunate that the US should choose to impose additional tariffs on India for actions that several other countries are also taking in their own national interest.

4. We reiterate that these actions are unfair, unjustified and unreasonable.

5. India will take all actions necessary to protect its national interests.

Aug 13, 2025 10:36 AM

IST

General India tariff news LIVE | ‘Overall momentum of India’s economy hasn’t slowed but…’: Chief economic advisor

India tariff news LIVE: The overall momentum of India’s economy’s has not slowed as evident from high frequency indicators, Chief Economic Advisor V. Anantha Nageswaran said on Wednesday, however, added that it was too early to assess the impact of US tariffs on growth.

(via Reuters)

Aug 13, 2025 10:29 AM

IST

General India tariff news LIVE: India has been headstrong in trade talks, says US official

India tariff news LIVE: US Treasury Secretary Scott Bessent on Tuesday (local time) said that India has been headstrong in their trade negotiations with the US, adding that New Delhi has been “a bit recalcitrant”, days after US President Donald Trump announced an additional 25 per cent tariff.

Bessent, speaking to Fox Business Network’s “Kudlow”, also said that there were still some “big trade deals” yet to be done or agreed upon, including Switzerland and India, acknowledging the possibility of concluding tariff negotiations by October.

Aug 13, 2025 10:13 AM

IST

General India tariff news LIVE: Sensex, Nifty rise in early trade

India tariff news LIVE: Equity benchmark indices Sensex and Nifty climbed in early trade on Wednesday as steady US inflation data propelled a sharp rally in global markets.

Besides, retail inflation slowing to an 8-year low of 1.55 per cent in July also led to the positive trend in domestic equities.

The 30-share BSE Sensex climbed 327.79 points to 80,563.38 in early trade. The 50-share NSE Nifty edged up by 112.15 points to 24,599.55.

From the Sensex firms, Bharat Electronics, Tata Motors, Power Grid, Tata Steel, Eternal and Infosys were among the gainers.

(Via PTI)

Aug 13, 2025 10:01 AM

IST

General India tariff news LIVE updates: Rupee slips by 6 paise against US dollar in early trade

The rupee slipped 6 paise to 87.69 against the US dollar in morning trade on Wednesday as depreciation pressures are still lingering amid persistent foreign fund outflows.

At the interbank foreign exchange market rupee opened at 87.63, then touched an intra-day low of 87.69 against the US dollar in initial trade. On Tuesday, the rupee appreciated by 12 paise to close at 87.63 against the US dollar.

General India tariff news LIVE updates: Indian shares open higher amid US tariff threats

Indian shares rose on Wednesday, after softer U.S. retail inflation boosted bets of a Federal Reserve rate cut in September, while easing domestic price pressures also supported sentiment.

The Nifty 50 rose 0.31% to 24,563.25 points and the BSE Sensex gained 0.26% to 80,427.58, as of 9:21 a.m. IST. All 16 major sectors logged gains at the open. The broader small-caps and mid-caps gained about 0.5% each.

General India tariff news LIVE updates: PM Modi may visit US for UNGA session, Trump to be in attendance

Amid the tariff tensions, Prime Minister Narendra Modi is likely to address the annual high-level session of the United Nations General Assembly (UNGA) in September, news agency PTI reported. US President Donald Trump is also set to address the session, marking it as his first in his second term. The high-level General Debate at the 80th session of the UN General Assembly is set to take place from September 23 to 29.

General India tariff news LIVE updates: India ‘a bit recalcitrant’ in trade talks, says US treasury secretary

US treasury Secretary Scott Bessent has claimed that India had been “a bit recalcitrant” in trade talks with America. Bessent’s remarks come days after President Donald Trump threatened additional 25 per cent tariffs on Indian imports, citing the country’s oil purchase from Russia.

General India tariff news LIVE updates: Brazil President announces aid for companies hit by US tariff

Brazilian President Luiz Inacio Lula da Silva has announced a $5.5 billion aid package to support companies affected by the 50% tariffs imposed by the United States on many Brazilian exports. The new duties, which came into effect last week, impact key sectors like coffee and meat, covering 36% of Brazil’s exports to the US in 2024.

General India tariff news LIVE updates: Expert explains impact of US tariff on India pharma industry

Rajendra Khandelwal, MD and Chairman of Dhanwantary Medicare and Research Centre Pvt Ltd, commented on the impact of Trump’s tariff on India, stating that while India may face temporary losses, the real burden will fall on US citizens, who will now have to pay more for essential medicines.

“All generic products of pharmacy and wellness go from India to the US, and temporarily, if we bear some loss, US citizens will face it two-fold because they will have to buy expensive medicines,” he told ANI.

General India tariff news LIVE updates: What Union Minister Shivraj Singh Chouhan told farmers amid US tariff threat?

Union Agriculture Minister Shivraj Singh Chouhan on Tuesday urged farmers not to worry about the 50% tariff imposed by the United States on Indian agricultural exports. Speaking to farmer leaders in Delhi, he called the situation “testing times” but assured them that India would adapt. “We will explore new markets. India is such a big market, it will be consumed here itself,” Chouhan said, emphasising the strength of domestic demand.

General India tariff news LIVE updates: Trump says Goldman made bad call on tariffs

President Donald Trump assailed Goldman Sachs Group Inc. Chief Executive Officer David Solomon, saying the bank made a “bad prediction” about the impact of Trump’s sweeping tariff agenda on markets and consumer costs.

“David Solomon and Goldman Sachs refuse to give credit where credit is due,” the president said on his social-media platform Tuesday. “They made a bad prediction a long time ago on both the Market repercussion and the Tariffs themselves, and they were wrong, just like they are wrong about so much else.”

General India tariff news LIVE updates: July tariff spike fails to slow expanding US budget deficit

US tariff revenue reached a fresh monthly record in July, though the increase wasn’t enough to prevent a widening in the monthly budget deficit.

Customs duties climbed to $28 billion last month, marking a 273% surge over July last year, a Treasury Department release showed on Tuesday.

At the same time, the monthly budget deficit came in at $291 billion, or 10% more than the same month a year before, after accounting for calendar differences.

General India tariff news LIVE updates: US trade team to meet Chinese officials in next 2-3 months

US trade officials will meet again with their Chinese counterparts within the next two or three months to discuss the future of the economic relationship between the two countries, Treasury Secretary Scott Bessent said on Tuesday, a day after the Trump administration extended a pause on sharply higher US tariffs on Chinese imports for another 90 days.

General India tariff news LIVE updates: Dollar slips as US inflation data backs September rate cut

The dollar fell across the board on Tuesday after data showed that U.S. consumer prices increased moderately in July, leaving intact the case for a Federal Reserve interest-rate cut next month.

The consumer price index rose 0.2% last month after gaining 0.3% in June, the Labor Department’s Bureau of Labor Statistics said on Tuesday.

Aug 12, 2025 10:52 PM

IST

General India tariff news LIVE updates: Trump mocks Goldman Sachs CEO for ‘bad prediction’ on tariffs.

India tariff news LIVE updates: US President Donald Trump assailed Goldman Sachs Group Inc. Chief Executive Officer David Solomon, saying the bank made a “bad prediction” about the impact of Trump’s sweeping tariff agenda on markets and consumer costs.

“David Solomon and Goldman Sachs refuse to give credit where credit is due,” the president said on Truth Social on Tuesday. “They made a bad prediction a long time ago on both the Market repercussion and the Tariffs themselves, and they were wrong, just like they are wrong about so much else.”

The president’s remarks follow a research note Sunday by Goldman economists that said the impact of the president’s tariffs on consumer prices was just starting to be felt.

Aug 12, 2025 10:10 PM

IST

General India tariff news LIVE updates: India to explore new markets for agriculture, farmers

India tariff news LIVE updates: Union agriculture minister Shivraj Singh Chouhan has stated that India will work to explore new markets in view of high tariffs from the US. Reiterating PM Modi’s recent statement, the BJP leader said that India will not compromise on the “interests of the country’s farmers even if it means paying a heavy price”.

“Farmers, don’t worry. Let’s see what will happen. We are a country of 140 crore people. There will be a little bit of difficulty but we will see. We will explore new markets. India is such a big market, it will be consumed here itself,” said Chouhan while addressing a group of farmer leaders in Delhi

“India’s 140 crore population is not a weakness but our strength,” he said, adding that “this is our testing time and we need not bow down (before the US)”

“Koi jhukne ka kaam nahin hai. Samjhauta barabari pe hota hai. Thode humare, thode tumhare (There is no need to bow down. The agreement should be between equals with give and take),” he added further.

General India tariff news LIVE Updates: ‘Don’t worry about US tariffs’ Shivraj Singh Chouhan tells farmers

India tariff news LIVE updates: Agriculture Minister Shivraj Singh Chouhan on Tuesday asked farmers “not to worry” about the current “testing times” due to higher US tariffs. The BJP leader added that the Indian market will explore new geographies for exporting farm produce.

Asserting that India has taken a clear stand, Chouhan reiterated PM Modi’s statement and said that that “he will not compromise the interests of the country’s farmers even if he has to pay a heavy price” as “India’s voice and Indian farmers’ voice”.

The US has raised tariffs on Indian goods to 50 per cent, even as the two nations discuss a bilateral trade deal. The trade deal has been stuck over the US demand for greater access to India’s agricultural and dairy market.

“Farmers, don’t worry. Let’s see what will happen. We are a country of 140 crore people. There will be a little bit of difficulty but we will see. We will explore new markets. India is such a big market, it will be consumed here itself,” he said, addressing a group of farmer leaders at the Pusa complex here.

General India tariff news LIVE updates: india, China to resume direct flights amid Trump’s tariff row

India tariff news LIVE updates: India and China are set to resume direct flights as soon as September, as the two countries seek to reset political ties after years of tensions, sources have said.

The Indian government has reportedly asked airlines in the country to prepare flights to China at short notice, with an official announcement likely as soon as the Shanghai Cooperation Organisation (SCO) summit at the end of this month in China.

This move comes as India and China work towards a diplomatic reset amid the ongoing trade row with the United States over President Donald Trump’s aggressive moves on tariffs.

General India tariff news LIVE updates: South Africa to offer ‘generous’ deal for US to avoid Trump tariffs

India tariff news LIVE updates: South Africa will offer a “generous” new trade deal to the United States to avoid 30-percent tariffs, ministers said Tuesday.

As per an AFP report, the ministers did not release details of the new offer but said previously discussed measures to increase imports of US poultry, blueberries and pork had been finalised.

“When the document is eventually made public, I think you would see it as a very broad, generous and ambitious offer to the United States on trade,” Agriculture Minister John Steenhuisen said at a press briefing.

General India tariff news LIVE updates: What Israeli PM Netanyahu said amid India-US tariff row

India tariff news LIVE updates: Israel’s Prime Minister Benjamin Netanyahu last week said it will be in the interest of both India and the United States (US) to resolve the tariff issue, reports said.

US President Donald Trump has doubled tariffs on India to 50 per cent citing Russian oil purchase. The 50 per cent tariff was imposed in two phases, a 25 per cent levy was first announced on July 30 and the additional 25 per cent announced last week.

General India tariff news LIVE updates: After call with Modi, Brazil’s Lula dials China amid Trump tariff row

India tariff news LIVE updates: Brazilian President Luiz Inacio Lula da Silva spoke with Chinese president Xi Jinping as part of his outreach to allies after Donald Trump thrust Latin America’s biggest economy into the middle of his global trade war. This call between Lula and Xi comes after the Brazillian president dialed India’s prime minister Narendra Modi and Russian President Vladimir Putin.

A readout from Brazil’s government said the two leaders spoke for about one hour and exchanged views on international affairs, including recent developments around the Russia-Ukraine war. Brazil’s president, known universally as Lula, and Chinese leader Xi Jinping also agreed on “upholding multilateralism” through the Group of 20 and BRICS.

General India tariff news LIVE Updates: No additional US tariffs on pharma, electronics yet, says govt

India tariff news LIVE updates: The government on Tuesday said no additional tariffs have been imposed on Indian exports to the US in sectors such as pharmaceuticals, and electronics, yet.

In a written reply to the Lok Sabha, Minister of State for Commerce and Industry Jitin Prasada said reciprocal tariff at the rate of 25 per cent has been imposed on certain goods exported from India to the US, effective August 7.

It is estimated that around 55 per cent of the total value of India’s merchandise exports to the US is subjected to this reciprocal tariff, he said, adding that additional ad valorem rate of duty of 25 per cent with effect from August 27 has been imposed on certain goods exported from India.

“No additional tariffs have been imposed on Indian exports to the US in sectors like pharmaceuticals, and electronics as yet,” Prasada said.

General India tariff news LIVE updates: India’s economy is not dead, claims Andhra CM Naidu

India tariff news LIVE updates: Andhra Pradesh chief minister and TDP chief N Chandrababu Naidu on Monday countered US President Donald Trump’s “dead economy” jibe at India.

The TDP chief said the country was the “fastest one in the world moving ahead with which nobody can compete”.

The NDA leader further asserted that the future will determine “whose economies are dead economies”, adding the South Asian giant has some advantages and underwent economic reforms at the right time in 1991.

“US President said ours (India’s) is a dead economy. No, it is the only economy moving ahead fast in the world. Nobody can compete with it,” said Naidu.

Ahead of the additional 25 percent tariffs on India, the US president slammed India and its close ties with Russia, referring to both nations as “dead economies.”

General India tariff news LIVE updates: India surrounded by challenges, says former Rajasthan CM

India tariff news LIVE updates: Former Rajasthan chief minister Ashok Gehlot on Wednesday targeted Prime Minister Narendra Modi, accusing him of being a “weak leader”.

Claiming that India is increasingly surrounded by challenges on all fronts under Modi’s leadership, Gehlot said, “US President Donald Trump has repeatedly made baseless statements against India, claiming to have mediated 30 ceasefires between India and Pakistan. Now, he is taking decisions against India’s trade interests.”

Gehlot also criticised Modi for not directly addressing Trump’s remarks, saying that despite provocations, the prime minister has never publicly commented the US president’s comments.

(via PTI)

General India tariff news LIVE updates: US extends pause on tariffs for China again

India tariff news LIVE updates: Amid Trump’s fresh tariff row, the US president has once again extended the pause of the rates for China.

Taking to Truth Social on Monday, Trump shared that he signed an executive order suspending the imposition of higher tariffs until 12:01 a.m. EST (0501 GMT) on November 10, with all other elements of the truce to remain in place.

Earlier in May, both US and China argeed to a 90-day pause on their steep tariffs after talks in Geneva. Then in July, American and Chinese officials agreed to seek an extension of their 90-day tariff truce after two days of talks in Stockholm.

General India tariff news LIVE updates: Sri Lankan lawmaker warns Parliament on US tariffs’ impact on India

India tariff news LIVE updates: A Sri Lankan lawmaker has urged Parliament not to take lightly the impact of the US tariffs on Delhi, emphasising that India was the only country to provide crucial assistance during the island’s worst economic crisis, a media report said on Monday.

Speaking in Parliament, Harsha de Silva defended New Delhi’s opposition to what he described as US President Donald Trump’s “unfair and selective” trade measures.

“Don’t laugh at India. Don’t mock them when they are down because when we were down, they were the only ones to lend us a hand,” he was quoted as saying by the Daily Mirror. “It ain’t over until the fat lady sings. We witnessed you laughing. Don’t laugh. India expected the tariffs to come down to 15%, and so did we.”

Sri Lanka’s financial collapse in 2022 led to fuel shortages, scarcity of food and medicine, and depleted foreign reserves, resulting in its first-ever debt default.

India became Colombo’s largest supporter, extending over USD 4 billion in credit lines, currency swaps, deferred loan repayments, and numerous shipments of humanitarian aid.

Aug 12, 2025 12:37 PM

IST

General India tariff news LIVE updates: Kerala economy faces severe impact from US tariff hike, says CM Vijayan

India tariff news LIVE updates: Kerala chief minister Pinarayi Vijayan on Monday stated that the recent increase in US tariffs would have a severe impact on the state’s economy, and the government plans to undertake a comprehensive assessment of the situation.

Speaking at a government event, Vijayan described the US tariff hike as a major setback for both India’s economy and Kerala specifically.

He highlighted that the US is the second-largest importer of Kerala’s agricultural products, accounting for over 20 per cent of the state’s exports of cashew nuts, rice, vegetables, processed fruits, and cereal flour.

Kerala also hosts the highest number of seafood processing units in the country, and the increased tariffs are expected to adversely affect seafood exports as well, the chief minister said, according to an official statement.

Aug 12, 2025 12:20 PM

IST

General India tariff news LIVE updates: Brazil envoy to India says ‘High tariffs pose challenge and opportunity for trusted partnerships’

India tariff news LIVE updates: Ambassador of Brazil to India, Kenneth Felix Haczynski, stated that US President Donald Trump’s high tariffs on India and Brazil present both a challenge and an opportunity to seek trusted partners.

Speaking to ANI, Haczynski conveyed Brazil’s willingness to enhance cooperation with India.

He said, “The unexpected imposition of high tariffs presents both a challenge and an opportunity for our country to seek out trusted partners and expand business relations. During a conversation with PM Modi, we highlighted the long-standing relationship between the two countries, emphasising their potential to do more together. Brazil is open to negotiating tariffs, though within the limits of its sovereignty.”

Aug 12, 2025 11:41 AM

IST

General India tariff news LIVE updates: US duty increase on shrimp could benefit India, says Maharashtra minister

India tariff news LIVE updates: Maharashtra fisheries minister Nitesh Rane said the recent hike in tariffs on shrimp exported from India to the United States should be viewed as an opportunity to grow the country’s domestic market for prawns and other seafood. Urging stakeholders not to be overly concerned about US duties, Rane pointed out that Europe and Vietnam remain strong export destinations for Indian shrimp, while the domestic seafood market is large enough to support farmers and fishermen.

Last week, the US increased reciprocal tariffs on Indian goods from 25 per cent to as high as 50 per cent. According to the Seafood Exporters Association of India (SEAI), shrimp exports worth USD 2 billion to the US face major disruptions due to the higher duties imposed by President Donald Trump. In 2024, India exported USD 2.8 billion worth of shrimp to the US and has shipped USD 500 million so far this year. SEAI secretary general K. N. Raghavan noted that the new tariffs make Indian seafood far less competitive compared with China, Vietnam and Thailand, which face US duties of only 20–30 per cent. Rane maintained that the increased US tariff on shrimp presents an opportunity to strengthen India’s domestic market.

Aug 12, 2025 11:17 AM

IST

General India tariff news LIVE updates: Nifty, Sensex open flat

India tariff news LIVE updates: Indian equities opened lower on Monday as investors awaited a positive outcome from the upcoming US-Russia meeting this weekend.

The Nifty 50 began at 24,563.35, down 21.70 points or 0.09%, while the BSE Sensex opened at 80,508.51, slipping 95.57 points or 0.12%.

Analysts noted continued market volatility, with focus on US President Donald Trump’s next steps and the possibility of tariff relief for India.

News india news India tariff news LIVE: Indian stock market goes from top to least preferred in Asia for fund managers, survey shows