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

Washington, DC: US President Donald Trump has reaffirmed his decision to impose 25% tariffs on imports from Mexico, Canada, and the European Union, tying them to border security concerns and trade imbalances. The tariffs, initially set for March 4, are now expected to take effect on April 2, giving businesses and trade partners a brief window to prepare.   Trump Links Tariffs to Fentanyl Crisis and Border Security During his first Cabinet mee

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.  

Trump's Tariff Announcement and Border Security: President Donald Trump announced plans to impose tariffs of up to 25% on Mexico and Canada, effective February 1, 2025, arguing that both countries are contributing to illegal immigration and drug smuggling into the US. This move, part of his broader trade policy agenda, comes after his inauguration address, where he emphasized using tariffs to strengthen the US economy. However, such tariffs could risk igniting a trade con

US President Donald Trump's economic policies are facing significant challenges, according to market experts like Ramesh Damani and Samir Arora. While Trump has made bold promises, including ramping up US oil production and taking a tough stance on trade with countries like China, the actual implementation of these policies is likely to be constrained by governance realities. Damani pointed out that Trump's ambitious goal of increasing US crude oil production by three millio

During a visit to SpaceX's Starbase facility in Texas on Friday, Elon Musk shared his optimistic view on the growing India-US trade relationship, stating that the bilateral ties are “trending positive.” Musk, a key player in both the automotive and technology sectors, expressed his support for lowering trade barriers between the two nations to foster increased commerce and

Impact of China’s Export Restrictions on Indian Manufacturing: India’s manufacturing industry is facing significant disruptions due to China’s export restrictions, which are part of the ongoing trade tensions between the United States and China. These curbs primarily affect industries in India that rely on raw materials, machinery, and components from China, such as the solar po

Expansion of China's Trade-In Scheme China is extending its consumer trade-in program, originally launched in March 2024, to help stimulate demand in the struggling household sector. The scheme now includes additional home appliances such as microwave ovens, dishwashers, and rice cookers. In an effort to boost the digital goods market, subsidies are also being offered for products like smartphones, tablets, and smartwatches. Consumers who trade in old products can receive subsidies

The United Nations has expressed grave concern over the significant increase in executions in Iran, with reports indicating at least 901 people were executed in 2024, including a particularly high number in December. UN rights chief Volker Turk called the situation "deeply disturbing" and urged Iran to take action to end the rising tide of executions. Iran remains one of the leading countries in carrying out the death penalty, following only China, where reliable figures a

India has initiated anti-dumping investigations into two Chinese products—nylon filament yarn and trimethyl dihydroquinoline (TDQ). The investigations were triggered by petitions from domestic companies, such as Century Enka Ltd., Gujarat Polyfilms Ltd., and Oriilon India Ltd., for nylon filament yarn, and NOCIL Ltd. for TDQ. The Directorate General of Trade Remedies (DGTR) is looking into whether these cheap imports from China and Vietnam have caused material harm to local industries.

Trade and maritime ties between Pakistan and Bangladesh have been strengthening recently, raising concerns for India. A second cargo vessel, 'MV Yuan Xiang Fa Zhan,' from Karachi arrived at Chittagong port carrying essential industrial materials and consumer goods. This is part of a broader trend of increased trade between the two countries, which has coincided with a diplomatic push by Bangladesh's interim leader Muhammad Yunus to improve relations with Pakistan. This s

Snack prices are feeling the impact of rising palm oil and potato costs, pushing many packaged food products to become more expensive. While domestic supply issues have caused potato prices to spike, global disruptions and increased import duties have made palm oil—a key ingredient in many snacks—costlier. As of recent reports, palm oil prices have hit their highest in over two years, with an all-India average price of Rs 130.5 per kg. Snack manufacturers, including Bika

In a landmark energy agreement, Russia’s state oil company Rosneft has committed to supply 500,000 barrels of crude oil per day to India’s Reliance for the next 10 years, worth approximately $13 billion annually. This deal represents about 0.5% of global oil supply and strengthens energy relations between India and Russia, especially as Russia faces intense Western sanctions due to its invasion of Ukraine. The deal is set to begin in January and will involve monthly deli

 In light of US President-elect Donald Trump's proposed tariff measures on China, Canada, and Mexico, India is poised to capitalize on potential shifts in global manufacturing. With Trump’s plan to impose tariffs of 25% on Canada and Mexico and 10% on China, manufacturers may seek alternative locations to bypass the 60% levy on Chinese goods. India, with its low-cost labor, skilled workforce, and growing tech sector, is an attractive destination for this shift. Invest

Oil prices have shown remarkable stability, remaining in a narrow range since mid-October, with West Texas Intermediate (WTI) crude fluctuating around $70 per barrel. This rangebound trend has been characterized by a significant drop in volatility, with recent levels at their lowest since August. Despite ongoing geopolitical risks, such as the tensions between Iran and Israel and the potential impacts of a second Donald Trump presidency, traders have remained cautious. The market's curren

In a significant escalation of trade tensions, China announced on Tuesday that it would ban the export of several key materials, including gallium, germanium, and antimony, to the United States. These materials are vital for high-tech applications, including advanced electronics and military technologies. The Chinese Commerce Ministry's decision follows a recent expansion of the U.S. “entity list,” which now includes 140 Chinese companies—many based in China, though some

The Finance Ministry is set to review the windfall tax on fuel exports, including petrol, diesel, and Aviation Turbine Fuel (ATF), following the stabilization of global crude oil prices. The tax, introduced in July 2022, was implemented to address the substantial profits earned by oil refiners exporting fuel, which had an impact on domestic supplies. The review will assess the tax’s effectiveness and the revenue it has generated, with the Ministry of Petroleum and Natural Gas already re