The latest round of tariff hikes by US President Donald Trump has triggered immediate countermeasures from Canada, China, and Mexico, escalating tensions in global trade. Beginning Tuesday, the US is imposing a 25% tariff on imports from Mexico and Canada while also raising tariffs on all Chinese imports from 10% to 20%. In response, these nations have announced their own economic retaliations, signaling a sharp rise in trade disputes.Canadian Prime Minister Justin Trudeau and Chinese officia

Billionaire investor Warren Buffett has strongly criticized US President Donald Trump's latest tariffs, calling them “an act of war” and warning about their economic impact. In an interview with CBS on Sunday, Buffett argued that tariffs function as a tax on consumers and ultimately drive up prices.“Tariffs are actually—we've had a lot of experience with them—they're an act of war, to some degree,” Buffett said. He added that consumers, not fore

India and the European Union (EU) have set a year-end deadline to finalize a long-awaited free trade agreement (FTA), marking a crucial milestone in their bilateral trade relations. The announcement came after Prime Minister Narendra Modi and European Commission President Ursula von der Leyen met in New Delhi to strengthen India-EU economic and strategic ties.The trade agreement, under negotiation for several years, aims to expand economic cooperation, boost trade, and enhance market access b

The World Bank has advised India to lower import tariffs, ease regulatory restrictions, and simplify trade processes to enhance its global trade competitiveness and attract foreign investment. In a report released on Friday titled the Economic Memorandum on India, the World Bank highlighted that high trade costs caused by import tariffs on intermediate and capital goods, as well as non-tariff barriers, are limiting India's participation in global value chains (GVCs).The report emphasized

The Union Budget 2025 has brought a major tax relief for the middle class, with Finance Minister Nirmala Sitharaman announcing that individuals earning up to ₹12 lakh annually will have zero tax liability under the new tax regime. Additionally, salaried individuals can claim a standard deduction of ₹75,000, effectively making income up to ₹12.75 lakh tax-free. This move is aimed at simplifying tax compliance and increasing disposable income for millions of taxpayers.  

The Reserve Bank of India (RBI), in its latest bulletin released on February 19, stated that the tax cuts in the Union Budget 2025, along with moderating inflation, are expected to provide financial relief to the middle class and boost overall household spending. This announcement comes after the February Monetary Policy Committee (MPC) meeting, where the newly appointed RBI Governor, Sanjay Malhotra, emphasized the positive economic impact of the tax relief measur

The Internal Revenue Service (IRS) is facing an unexpected challenge as reports indicate that thousands of probationary workers will be laid off in the middle of the 2025 tax season. This decision comes at a crucial time when the agency is preparing to handle millions of tax returns and provide assistance to taxpayers across the country. The timing of these layoffs has raised concerns among financial experts, policymakers, and the public, as it may impact the agen

Elon Musk Defends Cost-Cutting Reforms in Oval Office Meeting with Trump Elon Musk has defended his aggressive cost-cutting measures, presenting them as a rational and necessary strategy to curb excessive government spending. Appearing alongside President Trump in the Oval Office on Tuesday, Musk outlined his vision for streamlining federal operations through the proposed Department of Government

US-India Trade Relations: Key Insights in 4 Charts As global trade policies evolve, the economic partnership between the United States and India is under the spotlight. With Prime Minister Narendra Modi visiting Washington this week, discussions are expected to focus on trade policies, tariffs, and strategic economic cooperation. Here’s a closer look at the current state of US-India trade.

Trump Announces 25% Tariffs on Foreign Steel and Aluminum, Eliminating Exemptions Former President Donald Trump announced on Monday that the United States will impose a 25% tariff on foreign steel and aluminum imports, marking a significant escalation in his efforts to bolster the U.S. economy through import taxes. The newly modified duties will be implem

A recent revelation that Elon Musk’s Department of Government Efficiency (DOGE) was granted access to sensitive U.S. Treasury payment systems has sparked security concerns, legal battles, and political debates. Critics fear the move could expose taxpayer data and disrupt critical federal funding.   Legal Battle Over Treasury Access

In February 2025, US President Donald Trump’s announcement of a 30-day pause on tariffs against Mexico and Canada brought a brief sense of relief to global markets. The decision helped prevent a potential escalation of a full-blown trade war, with US equity futures and international markets responding positively. However, concerns linger about the long-term effects of tariffs on industries such as automotive, semiconductor, consumer goods, e-commerce, and green energy.  

Budget 2025: Key Tax Changes for NRIs and Foreign Investors Finance Minister Nirmala Sitharaman's Budget 2025 proposed several important tax reforms that directly affect Non-Resident Indians (NRIs) and foreign investors. These updates aim to simplify taxation, promote NRI investments, and align the tax regime with global standards. Below is a breakdown of the major changes: Presumptive Taxation Regime for Foreign

Trump's 25% Tariffs on Canada and Mexico: A Trade War in the Making? In a bold move set to take effect on February 1, U.S. President Donald Trump has announced a 25% tariff on imports from Canada and Mexico. Citing concerns over illegal immigration, fentanyl trafficking, and trade imbalances, the administration is taking an aggressive stance on border economics. However, one major question re

Projected Economic Growth India’s economy is expected to grow between 6.3% to 6.8% in the financial year 2025-26 (FY26). This forecast comes from the Economic Survey 2024-25 presented by Finance Minister Nirmala Sitharaman in Parliament. Economic Fundamentals The survey highlights that the

Extended Economic Slowdown Expected: Maneesh Dangi, the CEO of Mosaic Asset Management, predicts that India's ongoing economic slowdown will last for at least another year and a half, contrary to the more optimistic views of many market participants. He believes the country is in the midst of a cyclical slowdown, which is a recurring phase in the economy. Dangi explains that such slowdowns typically last for five to seven quarters and do not recover without substan

In a surprising legal resolution, Meta has reportedly agreed to pay $25 million to settle a lawsuit filed by former U.S. President Donald Trump over his social media bans following the January 6, 2021, Capitol attack.   According to reports, $22 million from the settlement will fund the non-profit organization managing Trump’s future presidential library, while the remaining amount will c

Senate Confirms Scott Bessent as Treasury Secretary The Senate has confirmed Scott Bessent as the new Treasury Secretary in a 68-29 vote on Monday, elevating the hedge fund manager to lead the administration’s financial policies as President Donald Trump advances his ambitious economic agenda.   At 62, Bessent steps into t

The Impact of Potential U.S. Tariffs on Canadian Goods: Economic and Political Repercussions The article explores the potential economic and political effects of tariffs threatened by former U.S. President Donald Trump on Canadian goods and the retaliatory measures proposed by outgoing Canadian Prime Minister Justin Trudeau. Here’s a comprehensive look at the key issues:

Andhra Pradesh Chief Minister N. Chandrababu Naidu expressed immense optimism for India's future, declaring that the country has entered its golden era of economic growth. Speaking at the World Economic Forum (WEF) in Davos, Switzerland, Naidu highlighted that India's economy is poised for significant growth, predicting it will register the fastest incremental GDP growth from 2028 onwards. He credited Prime Minister Narendra Modi's leadership and emphasized the stability provided