Donald Trump Tariffs News Highlights: US stocks up as market shrugs off tariff increases

Donald Trump Tariffs Live: Amid tension with US, Ajit Doval holds talks with Russian President Vladimir Putin

National Security Advisor Ajit Doval met Russian President Vladimir Putin on Thursday, a day after US President Donald Trump imposed an additional 25 per cent tariff on Indian exports in response to New Delhi’s continued purchase of crude oil from Moscow, bumping up the total tariff to 50 per cent. Read full story

Donald Trump Tariffs Live: 'Tariff pe tariff' - Trump tantrums jolt US-India ties. Will Quad fall apart?

US President Donald Trump has imposed a 50% tariff on Indian imports, accusing India of funding Russia’s war on Ukraine through its continued oil purchases. The shock escalation, delivered via executive order, represents the steepest tariff the US has ever placed on a major Asian partner - and it has sparked sharp backlash in New Delhi. Read full story

Donald Trump Tariffs Live: Why Lula's expected talk with PM Modi important?

While PM Modi’s call with Lula and the trip to China were previously scheduled, they take on added significance after Trump slapped India with 50% tariffs to penalise it for its trade barriers and purchases of Russian oil. India has signalled it won’t halt purchases of Russian energy and has described the US tariffs as “unjustified.”

Donald Trump Tariffs Live: 'PM Modi to speak with Lula, plans Xi meeting'

Prime Minister Narendra Modi is likely to speak with his Brazilian counterpart on Thursday and is expected to head to China for the first time in seven years in August, people familiar with the matter said, coming against the backdrop of worsening ties with the US.

Brazil’s President Luiz Inacio Lula da Silva plans to call PM Modi on Thursday to talk about President Donald Trump’s trade tariffs, officials in Brasilia and New Delhi said, asking not to be identified to discuss internal matters. (Bloomberg)

Donald Trump Tariffs Live: What if 146 crore Indians boycott American companies operating in India? AAP MP writes to Donald Trump

Donald Trump Tariffs Live: In the long term...US will not dominate like India; the business is likely to return to India, says businessman

On US President Trump imposing an additional 25% tariff on India over Russian oil purchases, Businessman Hiren Gandhi says, "The affected sectors are the textile and chemical sectors, which we excel at exporting to the US... Regarding the spices sector, in the short term, we are losing some business from the US, but in the long term, they have to purchase spices from India... We also consider the diamond and jewellery market in the US. India is the largest exporter of diamonds and jewellery. So it affects the market."

"However, in the long term, I believe the US will not dominate like India. Over time, the business is likely to return to India... US and India have $124 billion in bilateral trade, with India currently holding a 45% surplus in the US. This suggests India acts like a king, earning significantly from trade and wanting to import more... However, India is strict about not opening its agricultural and dairy sectors. While US aims to enter these areas, India remains firm to protect farmers' interests, refusing to negotiate on opening these sectors, even if it delays negotiations," he added.

Donald Trump Tariffs Live: Siemens warns US tariffs causing investment caution

Siemens warned on Thursday that US tariffs were prompting its customers in key sectors to slow investment decisions, even as the German industrial giant reported forecast-beating quarterly profits.

The group booked net profits of 2.2 billion euros ($2.6 billion) from April to June, up five percent from a year earlier, as strong orders at its division that makes trains offset problems at its factory automation unit.

Sales grew by five percent to 19.4 billion euros, and Siemens's shares jumped over four percent in Frankfurt after the results were released.

But chief financial officer Ralf Thomas cautioned that Siemens's sprawling global business was not immune from heightened global volatility unleashed by US President Donald Trump's tariff blitz.

"Ongoing tariff uncertainties and trade tensions have dampened further recovery because of a rather cautious investment sentiment in important customer industries," he said.

He pointed to industries such as the automotive and production of industrial machinery ones.

CEO Roland Busch added that, in several key industries, "sales cycles have been extended and investment decisions are taking longer".

Busch said the US levies were impacting the group's unit that deals with factory automation, which had already been facing problems.

"Orders in the digital industry business recovered less strongly than anticipated due to the continuing high level of uncertainty regarding the future tariff environment and ongoing trade disputes," he said. (AFP)

Donald Trump Tariffs Live: Swiss reel from 'horror scenario' after US tariff blow

Switzerland scrambled for answers Thursday after a last-gasp government mission to Washington failed to stop a 39-percent tariff blow from President Donald Trump, sparking job fears in what businesses called a "horror scenario".

The government was due to hold an emergency meeting after President Karin Keller-Sutter and Economy Minister Guy Parmelin returned home from their trip apparently empty-handed.

Trump blindsided the Swiss last week when he announced that the country would be hit by one of the highest tariffs among new duties on imports from dozens of economies that took effect on Thursday.

The Swiss rate was higher than Trump's previous threat of a 31-percent tariff.

Keller-Sutter rushed to the US capital with a small delegation earlier this week to seek a friendlier levy, but she only secured a meeting with US Secretary of State Marco Rubio, who does not oversee tariff policy.

After Wednesday's meeting, Keller-Sutter spoke only of "a very friendly and open exchange on common issues".

The Swiss government said Thursday that it would hold an extraordinary meeting and issue a statement. (AFP)

Donald Trump Tariffs Live: Owaisi says fresh US tariffs on India will hurt Indian exporters, deter FDI, hit jobs hard

AIMIM president Asaduddin Owaisi on Thursday said US President Donald Trump's decision to impose 50 per cent tariff on Indian goods will hurt Indian exporters, MSMEs, manufacturers and will disrupt supply chains, deter FDI, and hit jobs hard.

A day after Trump imposed a penalty of another 25 per cent on India for buying Russian oil, Owaisi said Trump just slapped another 25 per cent tariff on India, taking it to 50 per cent, because “we bought oil from Russia”.

In a post on X, the Hyderabad MP said “This isn’t diplomacy, it’s bullying by the buffoon-in-chief who clearly doesn’t understand how global trade works".

These tariffs will hurt Indian exporters, MSMEs, and manufacturers. It’ll disrupt supply chains, deter FDI, and hit jobs hard. But why will Narendra Modi care? Where are those BJP muscle-flexers now?" the AIMIM chief asked.

"Last time I’d asked if Modi ji would show his 56-inch chest when Trump imposed 56% tariffs. Trump stopped at 50%. Maybe he’s scared of our non-biological PM? Was selling out our strategic autonomy worth filling your friends’ billionaire coffers?" he further said. (PTI)

Donald Trump Tariffs Live: China's exports and imports picked up in July, helped by the pause in Trump's higher tariffs

China's exports surged 7.2% in July from a year earlier while its imports grew at the fastest pace in a year, as businesses rushed to take advantage of a truce in President Donald Trump’ s trade war with Beijing.

However, analysts said the improvement also reflected a low base for comparison in July 2024.

Exports to the United States sank nearly 22% year-on-year, while imports from America fell almost 19%. But exports to Africa and Southeast Asia surged at double-digit rates as Chinese businesses diverted sales to other markets. (AP)

Donald Trump Tariffs Live: US envoy will return with Russia-Ukraine peace framework from Moscow, says Rubio

US Secretary of State Marco Rubio on Wednesday (local time) said that US special envoy Steve Witkoff will return from Moscow with a framework for peace between Russia and Ukraine, The Hill reported.

"The specific timing of it is not discussed," Rubio told Larry Kudlow during an appearance on Fox Business Channel, as quoted by The Hill.

"I think what we have is a better understanding of the conditions under which Russia would be prepared to end the war. We now have to compare that to what the Ukrainians and our European allies, but the Ukrainians primarily, of course, are willing to accept," he added.

According to The Hill, Witkoff has been gathering information from ongoing talks in Moscow, even as the Kremlin continues its offensive on Kyiv and other Ukrainian cities.

"I think for the first time, perhaps since this administration began, we have some concrete examples of the kinds of things that Russia would ask for in order to end the war. We haven't had much of that to this point," Rubio said, as reported by The Hill.

Donald Trump Tariffs Live: Pharmexcil warns tariffs on Indian drugmakers would be counterproductive

Pharmaceutical Export Promotion Council (Pharmexcil) on Thursday said that America's decision to temporarily exempt India's pharmaceutical exports from the raised tariffs highlights India's crucial role in ensuring affordable medicines for the American masses.

On August 6, the US had announced an additional 25% tariff on all Indian imports, on top of an already existing 25% duty, taking the total to 50% from August 27.

India supplies over 40% of generics used in the US, including treatments for chronic diseases, cancer, and infectious conditions.

"Tariffs on Indian pharma would be counterproductive, ultimately burdening American consumers. Indian companies manufacture low-cost generics—not high-margin products—so any tariff costs would pass directly to US consumers," Pharmexcil Chairman Namit Joshi said in a statement.

Replicating India’s pharmaceutical capabilities would take 3-5 years at minimum, with significant challenges in achieving comparable scale, cost efficiency and talent depth, he added.

US President Donald Trump's decision to double tariffs on Indian imports to 50% has alarmed the Indian gem and jewellery industry, which is now looking at setting up manufacturing units in low-tariff countries like UAE and Mexico to continue exporting to the US.

Calling the move a "doomsday" for the sector, Gem & Jewellery Export Promotion Council (GJEPC) Chairman Kirit Bhansali told ET that, "We will reroute our products through other countries after studying the tariff structure of that country with the US. We will set up manufacturing units there quickly."

Donald Trump Tariffs News Live Updates: South African President speaks to Donald Trump ahead of 30% tariff

South African President Cyril Ramaphosa spoke with US President Donald Trump on Wednesday, just ahead of Washington's move to impose 30% tariffs on South African exports starting Thursday. The two leaders discussed bilateral trade and agreed to hold further talks, according to statements from Ramaphosa’s office.

The South African government has been pushing to avoid the steep tariffs, the highest among sub-Saharan African nations, warning that they could put around 30,000 jobs at risk.

resident Ramaphosa “reached out through a phone call to President Trump yesterday morning as part of bolstering South Africa’s negotiation efforts on the trade agreements," the presidency said.

Both leaders agreed that their respective trade teams would continue detailed negotiations. The United States is South Africa’s second-largest trading partner, after China.

Donald Trump Tariffs News Live Updates: Tejashwi Yadav slams PM Modi for silence on US tariff hike

Rashtriya Janata Dal (RJD) leader Tejashwi Yadav strongly criticised Prime Minister Narendra Modi for remaining silent after US President Donald Trump imposed a 50% tariff on Indian imports. Yadav accused PM Modi of being "weak" and alleged that he was "dancing to America’s tune."

Addressing reporters, Yadav criticised the central government’s handling of the situation. He said, “You all are witnessing how the government is functioning in this country. Trump imposed a 50% tariff. Trump has said 28 times that he brokered the ceasefire. The Prime Minister has not broken his silence yet. The PM still hasn't said that Donald Trump is lying."

Yadav accused the prime minister of appearing weak and aligning with American interests. "The PM has become so weak that he is dancing to America's tune. A 50% tariff will cause huge damage to the country, and no one is speaking about it. Everyone is silent. These people will damage the country and then go to Bihar and say, 'Look, we have become a Vishwaguru',” he added.

Donald Trump Tariffs News Live Updates: India has not violated any US Law, says former Mos, MEA MJ Akbar

Former MoS for external affairs, MJ Akbar highlighted the volataility of the US policy, giving an example of how US President Donald Trump had declared Russia as a foe, and imposed tariffs on India on that basis.

Akbar, in conversation with ANI, said that the new wave of uncertainty unleashed on various countries looks like a game of snakes and ladders initiated by Trump.

"Two days ago Mr. Putin, of Russia, President Putin, was a declared foe. After all, punitive action has been taken on the basis of us buying Russian oil. Although I must insist and say and stress that we have not violated any American law in the process. This is extremely important. But President Trump used this as the reason. Within the last 48 hours now, we hear that he is going to have a meeting with President Putin within a few days. So it's a volatile time and we will see how things turn out on the Washington chessboard. Although many people are saying it's not a chessboard, it's a game of snakes and ladders which is going on initiated by President Trump," he said.

"At this moment our National Security Advisor, Ajit Doval, who has now become the Prime Minister's crisis manager is in Moscow and he will be meeting President Putin. He will be meeting the Foreign Minister Lavrov. Tariffs, trade, security will be very high on the agenda," he added.

Trump has announced a secondary or additional tariff on India for its crude oil trade with Russia. During his second presidential term, Donald Trump has wielded tariffs extensively to achieve various objectives.

On August 6, Trump declared the implementation of a ‘secondary tariff’ on Indian imports to the US, scheduled to be effective in 21 days, that is August 27 onwards. The measure imposes an extra 25% duty on Indian goods, supplementing the existing 25% tariff, specifically to penalise India's oil purchases from Russia.

Trump’s latest initiative introduces what he terms a "secondary tariff", aimed at pressuring countries to sever ties with US opponents - in this case Russia.

Congress MP Shashi Tharoor slammed the United States for imposing additional 25% tariff on India and called for hitting the US back with "reciprocal" tariffs of 50 per cent.

"We should also impose 50 per cent tariff on US goods," the Congress leader said. "I think the average Indian tariffs on US goods are 17 per cent, so if they are imposing 50 per cent in retalliation, then why should we stop at 17? We should also raise it to 50 [per cent]," the Lok Sabha MP said while talking to reporters, adding, ".We need to ask them, do they not value our relationship? If India doesn't matter to them, they should also not matter to us."

Speaking about the potential impact of 50 per cent US tariffs, Tharoor remarked, "It will have an impact because we have trade of about $90 billion. If things get costly by 50 per cent, then people will also think before purchasing them. If our competitors, Vietnam, Indonesia, Pakistan, Bangladesh, China, will sell products at a lower cost... it will have an impact."

Donald Trump Tariffs Live: US on possibility of tariffs on China for Russia oil purchase

Peter Navarro, the White House Trade Adviser, explained that whilst the United States said China already faces 50% tariff, but the the underlying rationale differs significantly from the India tariff figure, as reported by C-SPAN.

During a Thursday press briefing, Navarro emphasised the US administration's strategy to impose tariffs on China whilst safeguarding American economic interests.

"As the boss says, let's see what happens. Keep in mind that we have over 50 per cent tariffs on China already. We have over 50 per cent tariffs on China, so we don't want to get to a point where we actually hurt ourselves. And I think I've given a really good answer to that," Navarro stated, according to C-SPAN.

Donald Trump Tariffs India Live: What are the views of exporters on these tariffs?

Industry leaders have expressed grave concerns over US trade decision:

Yogesh Gupta from seafood exports warns of higher shrimp prices in the US market. CITI voices deep worry about significant negative consequences. Colin Shah of Kama Jewellery describes it as a severe setback.

GTRI's Ajay Srivastava forecasts Indian products becoming substantially more expensive in the US, potentially reducing exports by 40-50 per cent. FIEO labels the development as "extremely shocking", noting it affects 55 per cent of India's American exports.

Donald Trump Tariffs Live: Which all sectors or product categories are exempted from these tariffs?

According to research organisation GTRI, the 50 per cent duties will not affect several exempt categories, including finished pharmaceutical drugs, active pharmaceutical ingredients (APIs), and essential drug components. The exemptions also extend to energy commodities such as crude oil, refined fuels, natural gas, coal, and electricity. Additionally, critical minerals and various electronic items and semiconductors, encompassing computers, tablets, smartphones, solid-state drives, flat panel displays, and integrated circuits, are excluded from these tariffs.

The trade between India and the US reached USD 131.8 billion in 2024-25, with India's exports amounting to USD 86.5 billion and imports totalling USD 45.3 billion.

Indian exports to the US uncompetitive after Trump's 50% tariff

Donald Trump Tariffs India Live: What is the current import duty structure on Indian goods in the US?

Since August 7, US-bound Indian products are subject to a combined tariff of 25 per cent (inclusive of 10 per cent base tariff), along with MFN (most favoured nation) rates and applicable trade remedy measures. Consider Indian shrimp exports, which whilst having a zero MFN rate, currently face a 2.49 per cent anti-dumping duty and a 5.77 per cent countervailing duty.
These trade remedy measures, implemented by the US, result in Indian shrimp facing a total levy of 33.26 per cent (25 per cent plus 2.49 per cent plus 5.77 per cent) from August 7. Furthermore, from August 27, domestic shrimp exports to the US will incur a substantial 58.26 per cent duty (50 per cent plus 2.49 per cent plus 5.77 per cent).

Donald Trump Tariffs Live: What's the timeline of Trump's tariff actions against India?

October 2019: Trump labels India the "tariff king"
September 2024: Trump calls India a "tariff abuser"
April 2, 2025: US formally announces a 26 per cent import tariff on Indian goods, effective April 9.
April 5, 2025: White House executive order established a 10 per cent baseline tariff on imports, with nation-specific tariff rates (16 per cent for India) set to commence April 9. Exclusions: Specific sectors exempted - pharmaceuticals, electronics, and energy products.
April 9, 2025: US delays implementation of nation-specific tariff rates (16 per cent for India) for 90 days until July 9. The 10 per cent baseline tariff continues.
July 8, 2025: Delay period extended further to August 1.
July 30, 2025: US declares 25 per cent tariff plus penalty on Indian goods. Penalty applies for purchasing crude oil and military equipment from Russia.
July 31, 2025: White House issues executive order implementing 25 per cent tariff effective August 7. Penalty not referenced. The 10 per cent baseline duty and sector exemptions remain.
August 5, 2025: Trump indicates plans for significant additional tariff increases on India.
August 6, 2025: Implements additional 25 per cent tariff, elevating total to 50 per cent, on Indian imports as consequence for New Delhi's ongoing Russian oil purchases.

US tariffs pose near-term challenges for auto component makers: ACMA

The decision to impose high tariffs on Indian goods by the US presents near-term challenges for the auto component makers, underscoring the importance of enhancing the sector's competitiveness and exploring new and diversified markets, industry body ACMA said on Thursday.
On August 6, the US announced an additional 25 per cent tariff on all Indian imports, on top of an existing 25 per cent duty, taking the total to 50 per cent from August 27.

"The recent decision by the US to impose higher and additional tariffs on certain imports from India, including auto components, underscores the shifting landscape of global trade," ACMA President Shradha Suri Marwah told PTI.

Donald Trump Tariffs News Live Updates: Rupee rises 5 paise against US dollar

The Indian rupee edged up by 5 paise to 87.67 against the US dollar in early trade on Thursday, trading in a tight range. At the interbank foreign exchange, the rupee opened at 87.69 and strengthened slightly to 87.67, up from Wednesday’s close of 87.72.

The previous day had seen the rupee rebound 16 paise from record lows.

This came despite fresh economic tensions after US President Donald Trump doubled import tariffs on Indian goods to 50%, targeting India over its continued oil trade with Russia. Trump’s new tariffs, effective in 21 days, are expected to hit Indian sectors like textiles, leather, and seafood exports the hardest.

Donald Trump Tariffs News Live Updates: Ready to pay personal price to protect farmers' interest, says PM Modi

Prime Minister Narendra Modi firmly said that India will never compromise on the interests of its farmers, fishermen, and dairy sector, even if it comes at a personal cost.

"Farmers' interest is our top priority. India will not bow to pressure or compromise the welfare of its farmers, fishermen, or dairy farmers. If I have to pay a price for this, I am ready," PM Modi said.

His comments come amid rising trade tensions after the US announced a 50% tariff on Indian imports, including agricultural goods.

Tariffs live: Trump says 'reciprocal tariffs take effect at midnight tonight'

​US President Donald Trump after slapping an additional 25% tariff on Indian goods that said his administration is considering imposing secondary sanctions on "a couple of others," hinting that China could be one of them.

Speaking at a White House press briefing on Wednesday, Trump was asked if similar penalties could be imposed on China for its continued purchase of Russian oil.

"It may happen. I don't know, I can't tell you yet. But we did it with India. We are probably doing it with a couple of others, one of them could be China," Trump told reporters during a press briefing in White House.

Trump plans 100% tariff on computer chips, unless companies build in US

Donald Trump announced plans to impose a 100% tariff on imported computer chips, a move that could drive up prices for electronics, automobiles, home appliances, and other products that rely on semiconductors.

“We’ll be putting a tariff of approximately 100% on chips and semiconductors,” Trump said in the Oval Office while meeting with Apple CEO Tim Cook. "But if you’re building in the United States of America, there’s no charge."

The policy is aimed at boosting domestic chip manufacturing, as companies producing within the US will be exempt from the tax. This announcement comes more than three months after Trump had temporarily excluded most electronics from his administration’s steepest tariffs.

Donald Trump Tariffs News Live Updates: Apple to invest additional $100 bn in US

Apple will invest an additional $100 billion in the US, raising its total commitment to $600 billion over the next four years, President Donald Trump announced on Wednesday.

Speaking alongside Apple CEO Tim Cook at the White House, Trump called it “the largest investment Apple has made in America,” and said the company will significantly boost spending on its domestic supply chain. He highlighted a new facility in Kentucky that will produce glass for iPhone screens.

Earlier this year, Apple had already pledged over $500 billion in US investments and announced plans to hire 20,000 people—a move Trump quickly claimed credit for.

This expands on Apple's 2021 plan to invest $430 billion in the country and create 20,000 jobs over five years. “This year alone, American manufacturers are expected to make 19 billion chips for Apple in 24 factories across 12 states,” Cook said from the Oval Office.

'Unfair, unjustified': India on Trump's additional tariff

India on Wednesday strongly condemned the US decision to impose a 25 percent additional tariff on its goods, calling the move "unfair, unjustified and unreasonable." The sharp response highlights rising tensions between the two strategic allies amid New Delhi’s ongoing energy ties with Moscow.

Following US President Donald Trump's executive order announcing the tariff hike, India accused Washington of "targeting" its oil imports from Russia and asserted that it will "take all actions" necessary to safeguard its national interests.

"We reiterate that these actions are unfair, unjustified and unreasonable," said the Ministry of External Affairs, reported PTI.

"We have already made clear our position on these issues, including the fact that our imports are based on market factors and done with the overall objective of ensuring the energy security of 1.4 billion people of India," it said.

"It is therefore extremely unfortunate that the US should choose to impose additional tariffs on India for actions that several other countries are also taking in their own national interest."

India shouldn't take Trump's 'impulsive' tariff threat: Congress' Karti Chidambaram

Congress MP Karti Chidambaram on Wednesday said India should not take US President Donald Trump’s impulsive remarks on tariffs seriously. He emphasized that the country should focus on maintaining calm and constructive trade negotiations with the United States instead.

"The more he (Donald Trump) makes these impulsive statements, the less serious we should take him. We should stick to our guns and engage in sober and calm negotiations. Even if it is long-drawn, we should come to some conclusion, which is in our economic and security interest," Chidambaram was quoted as saying by ANI.

'You're going to see so much secondary sanctions': Trump after additional 25 pc tariff move

US President Donald Trump on Wednesday hinted at the introduction of more "secondary sanctions," shortly after announcing an additional 25 percent tariff on India. The announcement has raised concerns, as India seems to be specifically singled out for these intensified trade measures.

When asked why India was being singled out for additional sanctions despite other countries like China also purchasing Russian oil, US President Donald Trump said, "It's only been 8 hours. So let's see what happens. You're going to see a lot more...You're going to see so much secondary sanctions, " Trump told reporters during a press briefing in White House, reports ANI.

He also hinted China could face "more" similar sanctions by the US administration.

Burden of any rise in tariffs by US will fall on their low-income households: EAC-PM

A day after US President Donald Trump declared he would raise tariffs on India "very substantially," Shamika Ravi, a member of the Economic Advisory Council to the Prime Minister (EAC-PM), warned that the impact of such a move would primarily affect low-income American families.

"These tariffs are eventually a transfer from low-income American households to the US government," Ravi said through a post on X.

'PM Modi should respond to this with strength,' says Congress's Imran Masood on Trump's tariff threat

Following US President Donald Trump’s tariff warning to India, Congress MP Imran Masood on Wednesday urged a strong rebuttal from the Indian government. Masood questioned the selective targeting of India, pointing out that nations like the US and UK also purchase oil.

He called on Prime Minister Narendra Modi to take a resolute stand and assert India’s position firmly in response to the threat.

"Does America not buy oil, does Britain not buy oil? Have you considered India so weak that you keep threatening us all the time? You are also giving concessions to China, but you will threaten India... We should take a firm stand. PM Modi should respond to this with strength," he was quoted as saying by ANI.

Jairam Ramesh slams PM Modi's 'Huglomacy', says India's foreign policy needs 'comprehensive reset'

Congress leader Jairam Ramesh on Wednesday hit out on Prime Minister Narendra Modi for pursuing a headline-grabbing style of "huglomacy" with US President Donald Trump and said that India's foreign policy needs a reset.

The comment came soon after US President Donald Trump slapped additional 25 per cent tariff on Indian imports over Russian oil purchases.

In a post on X, Ramesh wrote several past instances where PM Modi had actively courted Trump, including hosting and attending grand public events, only to now face harsh tariff actions and diplomatic snubs from the US administration.

"Now President Trump, while still claiming to be a friend of Mr. Modi, has hit India hard and unjustly. While his tariff and penalty actions are simply unacceptable, the fact remains that they also reflect the abysmal failure of Mr. Modi's personalised and headline-grabbing style of huglomacy," Ramesh wrote in a post on X.

He urged PM Modi to learn from former Prime Minister Indira Gandhi's foreign policy stance, saying, "India has stood up to the bullying of the US in the 1970s especially under the Prime Ministership of Smt. Indira Gandhi. Instead of defaming, distorting, and denigrating her, Mr. Modi should shed his ego--if indeed that were possible--and take inspiration from the manner in which she stood up to the USA. India's foreign policy and administration needs a comprehensive reset."

'America is pushing India towards Russia and China': Foreign affairs expert Subhash Goyal

Foreign affairs expert Subhash Goyal has criticised US President Donald Trump's decision to impose an additional 25 per cent tariff on India over its purchase of Russian oil, warning that the move will damage trade ties and hurt both Indian and American consumers.

"Look, India and Russia have a very old relationship. And Russia is a trusted friend of ours. If we're importing oil from Russia, the reason for that is that we have to look at our oil security in our agriculture sector and transport sector. And it is not that we are doing it only through Russia, but we are doing it from 10-15 countries. And the European Union is also doing it through Russia in a large number, but all the sanctions are being imposed on India," Goyal told ANI.

"So, I don't understand what the strategy is, but this will cause a lot of loss to our exports. Our exports are more than $100 billion, and our exports will be reduced by at least $30-40 billion. And the sectors like electronics or steel, which already account for 50% of our exports, will not be affected so much. Or if they are excluding pharmaceuticals, then it will not be affected so much. But still, our neighbouring countries like Bangladesh, Sri Lanka and Vietnam will be subject to 10% tariffs. Singapore also has a 10% tariff. So, either our exporters will have to route through there. And more than us, the American industry and the American consumers will be more affected," he added.

Goyal stressed that the US depends significantly on Indian goods and services, including in the technology sector. "Because, look, today there are medicines and other things which a lot of industry depends on Indian goods. Our software industry, all their technology, at this time, 30-50% are of Indian origin. Whether it is Microsoft, Google, Apple, or any big company, they have a lot of software development and manufacturing units in India. So, what will happen with this is that America is pushing India towards Russia and China," he said.

'Double standard... will make our goods unaffordable': Shashi Tharoor slams US for additional 25% tariffs on India

Slamming the United States for "double standard" for imposing an additional 25% tariff on India for buying Russian oil, Congress leader Shashi Tharoor on Wednesday said US President Donald Trump's move will make "our goods unaffordable to a lot of people in America."
He pointed out that while China imports various materials, including more Russian oil than India, the country has received a "90-day break" from the US tariffs.

"Uranium, Palladium, there are various things they (US) are importing from Russia. There is, unfortunately, a certain double standard involved. They have given the Chinese a 90-day break, but the Chinese are importing far more Russian oil than we are. So clearly this has not been a particularly friendly gesture from a country we thought was well disposed towards us, an administration that we thought was well disposed," Tharoor told reporters.

Suggesting that tariffs also might signal how the friendly relations between India and the US have been affected, the Congress leader mentioned the possibility of "pressures within India" for imposing reciprocal tariffs on American exports to India.

"Very clearly, we have to act accordingly, and we will have to learn our lessons from this experience. I think there is certainly a likelihood that there will be some pressure within India now to impose comparable reciprocal tariffs on American exports to India. So I think we're going to have to really start looking at other trading partners much more in these circumstances," Tharoor mentioned.

'Donald Trump has done the brave, principled and logical thing': Former UK Prime Minister Boris Johnson

US President Donald Trump frequently boasts about the billions of dollars flowing into the US government’s coffers from sweeping tariffs, calling it historic, unmatched, and a windfall for the nation. But while he celebrates the surge in revenue, many are asking: Where is all that money going -and who is really paying the price?

“We have a lot of money coming in, much more money than the country’s ever seen,” Trump said over the weekend, referring to revenue from tariffs.

Donald Trump Tariffs Live: Tejashwi Yadav slams Trump's 50% tariffs

RJD leader Tejashwi Yadav took to social media platform X to criticise the 50% US tariffs, expressing disappointment over India's response.

"The US imposing 50% tariffs on India is classic trade bullying - weaponising commerce to strong arm sovereign nations. Disappointing that Honourable PM Modi Ji, FM Jaishankar Ji & Commerce Minister Piyush Goyal Ji haven't pushed back strongly.

India's silence on Trump's "trade-for-ceasefire" claims was a mistake. Time to assert our trade policy sovereignty and stand firm against economic coercion. India cannot change its policy priorities under pressure," he wrote.

Donald Trump Tariffs Live: Brazil approaches WTO seeking tariff relief

Brazil has approached the World Trade Organization seeking relief against the tariffs imposed by US President Donald Trump, as per government sources cited by PTI.

Donald Trump Tariffs Live: RBI Guv said no 'major impact' of US tariff on domestic inflation

Reserve Bank Governor Sanjay Malhotra on Wednesday said he does not see "major impact" of US tariffs on the domestic inflation.
Speaking with reporters at the central bank headquarters, Malhotra said there can be some impact if India retaliates with tariffs, but was quick to add that he does not see the same coming.

"As of now, we don't see a major impact of this unless we have retaliatory tariffs and so on and so forth which I do not foresee," Malhotra said, replying to a specific question on the impact of tariffs.

Deputy Governor Poonam Gupta added that a majority 50 per cent of India's consumer price inflation (CPI) basket is food items, which have very limited exposure to global developments.

Apart from that, there is a significant weightage of non-tradeable items in the basket, which is again not impacted by global developments like tariffs, she said.

Donald Trump Tariffs Live: US's 50% tariff move to impact 55% of India's exports to be impacted, says FIEO

Exporters are reeling from a major blow after the US imposed a steep 50% tariff on most Indian goods, a move the Federation of Indian Export Organisations (FIEO) has called “extremely shocking.”

The fresh 25% hike, signed into order by US President Donald Trump on Wednesday, is in response to New Delhi’s purchase of Russian oil. It adds to an existing 25% duty, bringing the total tariff to 50% on nearly all Indian exports to the US.

Sectors like textiles, marine products, and leather, many of which are led by MSMEs, are expected to be hit the hardest.

Responding to the US's decision, the ministry of external affairs (MEA) said: “...it is extremely unfortunate that the US should choose to impose additional tariffs on India for actions that several other countries are also taking in their own national interest.”

The MEA further reiterated that India would continue to act in its own national interest and defend its sovereign right to make energy decisions independently.

Congress party leader Rahul Gandhi on Wednesday called US President Donald Trump's extra 25 per cent tariff on India an "economic blackmail" to bully New Delhi into an unfair trade deal."Trump’s 50% tariff is economic blackmail - an attempt to bully India into an unfair trade deal. PM Modi better not let his weakness override the interests of the Indian people," the leader of the opposition in Lok Sabha wrote on X.

Donald Trump Tariffs Live: Rahul Gandhi responds to US' additional 25% tariff on goods from India

"PM Modi better not let his weakness override interests of Indian people: Rahul Gandhi on US' additional 25 pc tariff on goods from India," says Congress chief Rahul Gandhi after Trump announced additional 25% tariff on goods from India.

Donald Trump Tariffs Live: US has in recent days targeted India's oil imports from Russia, says MEA

Donald Trump Tariffs Live: The ministry of external affairs has responded to Trump imposing an additional 25% tariff on India over its purchase of Russian oil

Donald Trump Tariffs Live: What Trump said about Russia in the executive order

In an executive order shared by the White House, US President Donald Trump said, "I have received additional information from various senior officials on, among other things, the actions of the Government of the Russian Federation with respect to the situation in Ukraine. After considering this additional information, among other things, I find that the national emergency described in Executive Order 14066 continues and that the actions and policies of the Government of the Russian Federation continue to pose an unusual and extraordinary threat to the national security and foreign policy of the United States."