New Delhi, Feb 3 (IANS) Leading industry chambers on Tuesday said the India-US trade deal will enhance the global competitiveness of Indian products while catalysing manufacturing growth, employment creation and the development of resilient supply chains.The US has immediately reduced reciprocal tariff on Indian goods from 25 per cent to 18 per cent, while waiving off the other 25 per cent tariffs imposed on the country for purchasing Russian oil.“The expected reduction of US-India tariffs to …
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New Delhi, Feb 3 (IANS) The Federation of Indian Export Organisations (FIEO) on Tuesday hailed finalisation of the India-US trade deal, under which the United States has agreed to reduce tariffs on all ‘made in india’ products to 18 per cent, saying it marks a significant milestone in further boosting and strengthening bilateral trade relations between the two countries.Sectors such as engineering goods, textiles and apparel, pharmaceuticals, chemicals, leather products, gems and jewellery, and …
Washington, Feb 3 (IANS) US Agriculture Secretary Brooke Rollins and Energy Secretary Doug Burgum welcomed the US–India trade deal, citing benefits for farmers, energy producers and the broader US economy.Rollins said the agreement would expand US farm exports to India’s large and growing market. “New US-India deal will export more American farm products to India’s massive market, lifting prices, and pumping cash into rural America,” she said.She noted that in 2024 the US agricultural …
New Delhi, Feb 2 (IANS) Finance Minister Nirmala Sitharaman said on Monday that the customs duty changes announced in the Budget for 2026-27 are part of the Indian government’s ongoing economic reforms to rationalise tariffs and are not linked in any way to the policy decisions of the US.”We have changed customs duties, and we have been making customs duty changes in every Budget for a while now, and we have continued the same in this Budget as well,” she pointed out.The Finance Minister maintai…
New Delhi, Jan 30 (IANS) The India-European Union free trade agreement (FTA) reflects a shared assessment that “more is at stake than trade alone” and signalled openness on negotiated terms in an era of “weaponised interdependence”, a report has said.The report from Euronews said the deal goes far beyond tariffs when “great powers are increasingly weaponising tariffs and exploiting supply-chain dependencies”.The agreement reflects the logic that “middle powers must build resilience together with…
Washington, Jan 30 (IANS) Industry Minister Kim Jung-kwan said that he and US Commerce Secretary Howard Lutnick concluded the first day of their talks over renewed tariff tension between the two countries without an agreement but they agreed to meet again the next day.Kim and Lutnick held the meeting in Washington, three days after Trump threatened to increase reciprocal tariffs and auto, lumber and pharmaceutical duties on South Korea to 25 per cent from 15 per cent, citing a delay in Seoul’s l…
Washington, Jan 29, (IANS) US President Donald Trump on Thursday sharply attacked Federal Reserve Chair Jerome Powell, a day after the Central Bank held interest rates steady, accusing him of hurting the US economy and national security by refusing to cut borrowing costs.In a post on his Truth Social platform, Trump said Powell “again refused to cut interest rates, even though he has absolutely no reason to keep them so high.”“He is hurting our Country, and its National Security,” Trump …
Washington, Jan 29 (IANS) Federal Reserve Chair Jerome Powell said that higher US inflation is being driven mainly by tariffs on goods, not excess demand — an assessment that could shape expectations for global trade-linked economies. “These elevated readings largely reflect inflation in the goods sector, which has been boosted by the effects of tariffs,” Powell said on Wednesday (local time), while stressing that price pressures in services continue to ease.The Federal Open Market Committe…
Washington, Jan 29 (IANS) US Federal Reserve Chair Jerome Powell declined to comment on his future at the central bank during a wide-ranging press conference. Asked whether he has decided to remain as a Fed governor, Powell said: “No.” He added: “I really, once again, have nothing for you on that today.”Pressed on when a decision might come, Powell repeated that he had nothing to add.When asked why he might consider leaving, Powell declined again. “There’s a time and place for these …
Washington, Jan 29 (IANS) The Federal Reserve held interest rates steady. Chair Jerome Powell said inflation is still “somewhat elevated,” with tariffs pushing up goods prices.The Federal Open Market Committee “decided to leave our policy rate unchanged,” Powell told reporters on Wednesday (local time). The Fed kept the target range for the federal funds rate at 3.5 per cent to 3.75 per cent.Powell said the economy “expanded at a solid pace last year” and is starting 2026 “on a fir…