New Delhi, April 21 (IANS) India-linked tariff refunds on exports to the United States are expected to be in the region of $10 to $12 billion after the US authorities opened a $166 billion claims window for customs duties imposed by the Donald Trump administration that were later struck down by the courts, according to a report by Global Trade Research Initiative.The refund process opened on April 20, and claims can be filed only by US-based importers, which means Indian exporters have no direct…
Latest Trade Act of 1974 News & Updates
New Delhi, March 13 (IANS) The US has launched a fresh trade investigation into Bangladesh and other economies to examine whether their policies and production practices are contributing to global overcapacity that could harm American manufacturing, according to a report in Dhaka-based The Morning Star.The investigation was initiated on March 11 by the Office of the United States Trade Representative (USTR) under Section 301 of the Trade Act of 1974, a powerful trade enforcement tool used to cha…
Washington, March 13 (IANS) The United States has launched investigations into 60 economies, including the European Union, India, Japan, and China, to determine whether their failure to ban imports made with forced labour unfairly harms American workers and businesses.The sweeping probe was initiated by the Office of the United States Trade Representative (USTR) on Thursday under Section 301(b) of the Trade Act of 1974 and targets some of Washington’s largest trading partners.The investigation…
New Delhi, Feb 24 (IANS) In a little over a year since he took office as the 47th President of the United States on January 20 last year, Donald Trump has managed to stir the world order a few times with frequent changes made using two of his favourite words – trade and tariffs.First, he introduced a set of “reciprocal tariffs” last year that forced several countries to scurry for inking trade deals with Washington or agree to negotiations as the dice appeared to be loaded against them.”After …
Washington, Feb 23 (IANS) US Treasury Secretary Scott Bessent has sought to shift the spotlight away from whether the Trump administration will refund nearly $134 billion collected under now-invalidated emergency tariffs, saying that the Supreme Court’s decision was “very narrow” and that the White House is moving quickly to new tariff authorities that keep 2026 revenue projections “unchanged”. In an interview with the CNN on Sunday, Bessent rejected the premise that refunds are the central issu…
New Delhi, Feb 22 (IANS) The tariffs collected from various jurisdictions by the US administration range from $160-175 billion (Chinese companies have paid the highest likely), and the refund could be a ‘mess’ but it would also be a psychological deterrent in imposition of future tariff structure, according to a new SBI Research report.US President Donald Trump has now raised global tariffs to 15 per cent, invoking Section 122 of the Trade Act of 1974, a move that escalates his trade offensi…
Washington, Feb 22 (IANS) US President Donald Trump raised a newly imposed global tariff to 15 per cent, invoking Section 122 of the Trade Act of 1974 as reported by The Wall Street Journal, a move that escalates his trade offensive a day after the US Supreme Court struck down much of his earlier tariff regime.In a post on Truth Social, Trump said the increase followed “a thorough, detailed, and complete review of the ridiculous, poorly written, and extraordinarily anti-American decision on Ta…
New Delhi, Feb 21 (IANS) After the US Supreme Court struck down reciprocal tariffs imposed by the Donald Trump administration, the White House has released a Fact Sheet, explaining that Trump has now invoked his authority under “Section 122 of the Trade Act of 1974”, which empowers the President to address certain “fundamental international payment problems” through surcharges and other special import restrictions.The Proclamation imposes, for a period of 150 days, a 10 per cent “ad va…
New Delhi, Feb 20 (IANS) With the US Supreme Court striking down reciprocal tariffs imposed by the Donald Trump administration on Friday, Indian exporters were jubilant at the news. However, around $8-9 billion worth of trade is still likely to face higher duties under national security provisions. The US Supreme Court ruling effectively eliminates the 18 per cent reciprocal tariff agreed earlier under the India–US trade framework.According to analysts, Section 232 duties remain in force, cove…