Washington, April 3 (IANS) The United States will impose tariffs of up to 100 per cent on imported patented pharmaceuticals, with President Donald Trump citing national security risks and heavy reliance on foreign supply chains.In a proclamation issued Thursday, Trump said pharmaceuticals and related ingredients “are being imported into the United States in such quantities and under such circumstances as to threaten to impair the national security of the United States.”The proclamation targe…
Latest Trade Expansion Act News & Updates
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…
New Delhi, Feb 3 (IANS) The reduction of US tariffs on India effectively takes India’s rate below most ASEAN peers and puts it at an advantageous position compared to China, a report showed on Tuesday.US President Donald Trump announced that the US and India had agreed on a trade deal, under which reciprocal tariffs on India will be lowered to 18 per cent from 25 per cent earlier.There was no explicit mention of how the additional punitive tariff of 25 per cent (due to Russian oil purchases) w…
Washington, Jan 17 (IANS) US President Donald Trump’s administration will seek “separate” semiconductor tariff agreements for “separate countries,” a U.S. official said, after the United States and Taiwan reached a deal on the chip levies this week.”Separate agreements for separate countries,” a U.S. official said, responding to a question from Yonhap News Agency regarding whether the deal with Taiwan would set a standard for chip tariffs or the U.S. would conduct separate negotiations with othe…