19 h. ago US tariff damps holiday mood of India’s jewellers as exports set to fall by 70%

India’s gem and jewellery businesses face a bleak year-end holiday season following Washington’s decision to slap a 50 per cent tariff on the country’s exports, as they warn the move could affect more than two-thirds of their shipments to the United States. On Wednesday, the tariff on India’s exports to the US took effect in response to New Delhi’s purchases of Russian oil and weapons. “With the imposition of a 50 per cent tariff, we expect exports to the US to decline by more than 70 per cent....

Politics

32 h. ago Indian textile industry must dig deep to survive US tariff shock

The Indian textile industry is staring down its worst crisis yet, as an additional 25 per cent tariff imposed by US President Donald Trump on India for buying Russian oil came into effect on August 27, taking the total levy on India’s exports to the United States to a staggering 50 per cent. Trump’s astounding tariffs not only threaten the successful 25-year-old trade partnership between the two countries but are also becoming a defining moment for India’s textiles, posing an existential threat...

Events

4 d. ago India won’t ‘bow down’ to crippling 50% US tariff, trade minister says

India will not “bow down” and instead focus on capturing new markets, trade minister Piyush Goyal said in his first public remarks since Washington imposed steep tariffs on Indian goods. The 50 per cent levies on many Indian imports into the United States took effect this week as punishment for New Delhi’s massive purchases of Russian oil, part of US efforts to pressure Moscow into ending its war in Ukraine. Since his return to the White House this year, US President Donald Trump has wielded...

Politics

7 d. ago Trump aide slams ‘arrogant’ India over Russian oil, dubs Ukraine ‘Modi’s war’

White House trade adviser Peter Navarro sought to raise pressure on India to halt purchases of Russian energy after the US imposed crippling new tariffs on New Delhi, casting the conflict in Ukraine as “Modi’s war”. “I mean Modi’s war because the road to peace runs, in part, through New Delhi,” Navarro said on Wednesday, referencing Indian Prime Minister Narendra Modi. US President Donald Trump’s 50 per cent tariff on Indian goods took effect earlier on Wednesday, a bid to punish the country for...

Politics

7 d. ago India’s exporters face ‘strategic shock’ as US tariffs over Russian oil kick in

Steep US tariffs on a range of Indian products took effect on Wednesday, threatening a severe blow to India’s overseas trade in its largest export market. US President Donald Trump had initially announced a 25 per cent tariff on Indian goods. But earlier this month, he signed an executive order imposing an additional 25 per cent tariff due to India’s purchases of Russian oil, bringing the combined tariffs imposed by the US on its ally to 50 per cent. The Indian government estimates the tariffs...

Events

1 week ago Trump aide calls India’s Russian oil purchases ‘laundromat for the Kremlin’

White House trade adviser Peter Navarro blasted India for continuing to buy Russian oil and said he expects punitive tariffs of 50 per cent on imports from the South Asian nation to kick in as planned next week. “I see that taking place,” Navarro told reporters in front of the White House when asked about the tariffs on India that are set to double on August 27. “India doesn’t appear to want to recognise its role in the bloodshed. It simply doesn’t. It’s cozying up to Xi Jinping, is what it’s...

Politics

2 w. ago China turns up oil tap from Russia as purchases of US crude remain suspended

China’s crude oil imports remained robust in July, fuelled by higher Russian shipments, while China’s purchases from the US remained suspended for a second straight month. The latest customs data shows that the volume of inbound crude oil reached 47.2 million tonnes in July, up 11.5 per cent from a year earlier. China purchased 8.71 million tonnes of crude oil from Russia, making it the top source of China’s crude imports last month, according to the official data. This marked a year-on-year...

Politics

2 w. ago Russia offers India ‘special mechanism’ to keep buying its oil

Russia expects to continue supplying oil to India thanks to a “special mechanism” despite warnings from the United States, Russian embassy officials in New Delhi said on Wednesday, adding that Moscow hopes trilateral talks will soon take place with India and China. US President Donald Trump has announced an additional tariff of 25 per cent on Indian goods exported to the US from August 27, as a punishment for buying Russian oil, which constitutes 35 per cent of India’s total imports compared...

Politics

2 w. ago Very happy with China tariffs: Trump official who slammed India over Russian oil

Very happy with China tariffs: Trump official who slammed India over Russian oil - Hindustan Times  Hindustan Times

Politics

2 w. ago 'China diversified, India made profits': US Treasury on why no tariff on Beijing over Russian oil

'China diversified, India made profits': US Treasury on why no tariff on Beijing over Russian oil  Business Today

Economics

2 w. ago Chinese refiners sweep up Russian oil after Indian demand falls, analysts say

Chinese refiners sweep up Russian oil after Indian demand falls, analysts say  Reuters

Politics

2 w. ago Trump tariffs live updates: US again warns India on buying Russian oil, EU

Trump tariffs live updates: US again warns India on buying Russian oil, EU-US deal details in question  Yahoo Finance

Events

2 w. ago China, India are buying Russian oil in large quantities, Gordon Chang says

China, India are buying Russian oil in large quantities, Gordon Chang says  Fox Business

Politics

2 w. ago Marco Rubio On Why US Tariffed India Over Russian Oil, But Not China

Marco Rubio On Why US Tariffed India Over Russian Oil, But Not China  NDTV

Politics

2 w. ago Marco Rubio Explains Why China Spared, India Faces Tariffs On Russian Oil

Marco Rubio Explains Why China Spared, India Faces Tariffs On Russian Oil  NDTV

Politics

2 w. ago Why US spares China, but hits India: Marco Rubio explains dilemma on Russian oil

Why US spares China, but hits India: Marco Rubio explains dilemma on Russian oil  India Today

Events

2 w. ago Why US spares China, but hits India: Marco Rubio defends Russian oil hypocrisy

Why US spares China, but hits India: Marco Rubio defends Russian oil hypocrisy  India Today

Events

2 w. ago Spare China but hit India: US Secretary of State defends Russian oil hypocrisy

Spare China but hit India: US Secretary of State defends Russian oil hypocrisy  India Today

Events

2 w. ago Trump says no imminent plans to penalize China for buying Russian oil By Reuters

Trump says no imminent plans to penalize China for buying Russian oil By Reuters  Investing.com

Politics

2 w. ago Trump says no imminent plans to penalize China for buying Russian oil

Trump says no imminent plans to penalize China for buying Russian oil  Reuters

Politics