Donald Trump Tariffs News Highlights: US unleashes revised global tariffs- Trade deficit, security cited in executive order; 68 countries, 27-member EU face hikes

Kosovo eliminates tariffs on US goods

Kosovo on Friday eliminated tariffs on all goods from the United States, a day after President Donald Trump unveiled new tariffs on trading partners across the globe but not on Pristina.

The Balkan nation had applied a 10 percent tariff on US goods and its goods are subject to the baseline 10 percent tariff that the Trump administration imposed in April.

"Kosovo welcomes American products to its market," said Kosovo's caretaker Prime Minister Albin Kurti, announcing the zero percent tariff on US goods.

"We strongly believe that this will affect the growth of trade exchange and increased investments," he told his cabinet.

Public sentiment in the land-locked territory of around 1.6 million people has been strongly pro-American since a 1999 US-led NATO air campaign that stopped the crackdown of Serbian armed forces on ethnic Albanians and paved the way for Kosovo's declaration of independence from Serbia a decade later.

US flags are common in the capital, Pristina, where one of the largest avenues honours former president George W. Bush, while Bill Clinton has both a boulevard named after him and a statue in his honour.

Donald Trump's 25% tariff: India expects minimal impact; indicates agriculture, dairy, GM food no-go areas in trade deal talks

The US decision to impose 25% tariffs will have minimal effect on India, sources told PTI. India is clear that duty exemptions for agricultural, dairy and genetically modified (GM) products in trade agreements is a no-go area, the report said, quoting sources.

In the fiscal year 2024-25, trade between India and the US reached $131.8 billion, which includes $86.5 billion in exports and $45.3 billion in imports. Read more

Former PM and JD(S) chief HD Deve Gowda on Trump's tariffs

Former PM and JD(S) chief HD Deve Gowda issues a statement, "Like everybody else, I too have been surprised by US President Mr. Donald Trump's haseless and ill-tempered remarks on India and the Indian economy. I don't think modern history has seen another head of state who has been so volatile, uncivil and irresponsible...Even a small trader and a poor farmer in India, who conducts his business with great dignity, integrity and humanity, can teach many lessons to Mr. Trump...I am very happy and proud that India, under the leadership of Prime Minister Narendra Modi has not compromised our national interest. It has not blinked to Mr. Trump's bullying and has shown that it will never be dictated by threat. On the contrary, the Modi government has gone the full length to protect the Indian agricultural sector as well as small and medium businesses, on which more than half the nation's population is dependent. The firm stand that the Modi government has taken will lead to a national resurgence of an unprecedented scale...A word of caution to some Opposition leaders who have rejoiced the statements of Mr. Trump and have jumped to be his deluded spokespersons in India. I can understand their frustration but they should not harm themselves, and their parties, and end up very soon in the dustbin of history along side Mr. Trump."

Stocks slide as Trump's new tariff sweep offsets earnings

Stock markets slid but the dollar held up Friday as US President Donald Trump announced tariffs on dozens of trading partners, offsetting strong earnings from tech giants.

With hours to go before Trump's August 1 deadline for governments to make toll-averting deals, the president unveiled a list of sweeping levies.

Shares in European pharmaceutical firms meanwhile slumped following the president's threat to punish them if they did not lower prices for medicines in the United States.

"Tariffs are the main theme sucking risk sentiment from financial markets," noted Kathleen Brooks, research director at XTB trading group.

"The other market-moving event today will be US payrolls (jobs) data.

"Analysts have been fairly downbeat on this report, which could puncture the narrative that the US economy is resilient in the face of tariff threats," she added.

Governments around the world have been scrambling to cut agreements with the White House since Trump unveiled his bombshell "Liberation Day" tariffs on April 2.

US trade partners around the world react to Trump's new tariffs

US trade partners reacted Friday to President Donald Trump's executive order that would introduce new tariffs on many of them in seven days, as the global economy and alliances face another test from the president's trade agenda.

Trump's order issued Thursday night came after a flurry of tariff-related activity in recent days as the White House announced agreements with various nations and blocs before a deadline set by the president for Aug. 1.

Trump ordered a 35% tariff for goods from Canada, effective from Friday, citing a lack of cooperation on illicit drugs. He also said Thursday that he would extend trade negotiations with Mexico for 90 days.

Tariff jitters: Bitcoin dips below Rs 115,200; crypto market cap down by 3.82%

The cryptocurrency market saw a sharp downturn on Friday, with Bitcoin slipping below $115,200 amid fresh US tariffs and widespread profit-taking that triggered large-scale liquidations.Bitcoin was trading at $115,149, down 3 per cent, while Ethereum dropped 5.5 per cent to $3,663 at 12.30 pm IST, according to CoinMarketCap data cited by Economic Times. The total global crypto market capitalisation declined 3.82 per cent to $3.75 trillion, reflecting broader risk-off sentiment. Read full story

FIIs withdraw Rs 27,000 crore in 9 days: Trump’s tariff, weak rupee spook investors; short positions at record high

Foreign institutional investors (FIIs) have withdrawn over Rs 27,000 crore from Indian equities across nine days, driven by a mix of weak Q1 earnings, US President Donald Trump's new 25 per cent tariffs on Indian goods, and a weakening Rupee. Read full story

Rupee rises 40 paise to 87.25 against US dollar in early trade

The rupee rose 40 paise to 87.25 against the dollar on Friday, aided by falling oil prices and suspected RBI intervention, even as Trump’s 25 per cent tariff on Indian exports spurred risk-off sentiment. Traders flagged fears of further depreciation, but RBI support helped stabilize the currency after Thursday’s record low. Brent crude dipped nearly 1 per cent, while FIIs sold Rs 5,600 crore in equities amid ongoing tariff-related uncertainty.

Donald Trump Tariffs News: Amazon Q2 results: American multinational posts $18.16 billion net earnings; Trump tariffs cast shadow for Q3

Amazon posted a robust second quarter with $18.16 billion in net income and revenue of $167.7 billion, beating expectations. However, despite the upbeat results, the company’s stock fell nearly 7 per cent in after-hours trade due to a cautious Q3 outlook — a reflection of rising investor anxiety over US President Donald Trump’s new tariff regime.

CEO Andy Jassy acknowledged the uncertainty, stating Amazon hasn’t yet seen demand fall or prices rise significantly, but warned that if costs increase, the company would absorb them. To mitigate potential disruptions, Amazon and other retailers reportedly sped up imports before tariffs kicked in. Still, with Q3 operating income forecast to fall short of Wall Street’s expectations, tariff pressures remain a key concern heading into the next quarter. Read full story









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Donald Trump's outburst may help government counter charge of 'surrender'

From being charged with surrendering to Donald Trump and suspending Operation Sindoor, to being attacked by the US President for not towing his line on the trade deal, events have moved fast for the Narendra Modi govt over the last 48 hours or so. The US President's unsubstantiated claim that he coerced India into agreeing to cease its offensive against Pakistan embarrassed the Modi govt and gave its opponents a stick to beat it with. Both PM Narendra Modi's statement that "no world leader" (read Trump) nor the external affair minister's assertion that Trump and Modi did not talk during Operation Sindoor were rejected. Read full story

Trump tariffs hit dozens of countries: Which are the most and least affected? Check if India makes it to either list

The US has announced a sweeping overhaul of global tariffs, effective August 7, with rates ranging from 10 to 41 per cent. The move, signed into effect by President Trump, targets 95 countries and the EU, citing national security and trade imbalances. Syria, Laos, and Myanmar face the steepest tariffs at 40 per cent or more, while Brazil, the UK, and several smaller nations are levied at just 10 or 15 per cent. India falls in the higher tier with a 25 per cent tariff, driven by its trade ties with Russia and existing economic tensions with the US. Read full story

Tariffs News Live: Nifty50 opens below 24,750; BSE Sensex down over 100 points as Donald Trump's 25% tariff on India weighs on sentiment

Nifty50 and BSE Sensex, the Indian equity benchmark indices, opened in red on Friday as India braces for 25% tariff rate on its exports to the US. While Nifty50 went below 24,750, BSE Sensex was down over 100 points. At 9:16 AM, Nifty50 was trading at 24,727.45, down 41 points or 0.17%. BSE Sensex was at 81,047.39, down 138 points or 0.17%. Read full story

Trump Tariff News Live: No F-35 jets from US for India? Govt mulls next steps after 25% tariff shock

India is exploring options to address US President Trump's 25 per cent tariff on Indian goods, but immediate retaliation is unlikely. While aiming to maintain trade relations by potentially increasing imports of natural gas, communication equipment, and gold from the US, India has ruled out new defense purchases, including the F-35 fighter jets. Read full story

Trump Tariff News Live: 25% on India, 19% on Pakistan, 35% on Iraq- Full list of US tariff rates announced by Donald Trump; who’s worst-hit?

US President Donald Trump has implemented a revised trade tariff regime under his “America First” policy, effective August 7. It imposes a default 10% tariff on 68 nations and the EU, with higher rates for countries with trade deficits, starting at 15%. Syria faces the highest tariff at 41%. Read full story

‘Major success’ or ‘factless turbulence’? Here's how nations reacted to Trump's new tariffs

President Trump's new tariffs, ranging from 10% to 41%, have sparked global reactions. Thailand and Cambodia hailed 19% tariff deals as wins after US intervention. Taiwan faces a 20% levy, hoping for reductions through negotiation. Canada strongly condemned the increased tariffs, labeling them as 'tact-less turbulence,' while defending its Prime Minister's approach. Read full story

Donald Trump signs executive order imposing tariffs up to 41% - what to know

US President Donald Trump has implemented a revised trade tariff regime under his “America First” policy, effective August 7. It imposes a default 10% tariff on 68 nations and the EU, with higher rates for countries with trade deficits, starting at 15%. Syria faces the highest tariff at 41%. Read full story

Canada’s slams Trump’s higher levies, calls it 'more fact-less tariff turbulence'

The President and CEO of Canada’s chamber of commerce has strongly criticised US President Donald Trump’s decision to hike tariffs on Canadian goods. The move, announced by the White House tonight, raises tariffs from 25% to 35%, citing “Canada’s continued inaction and retaliation.”

The Chamber’s head also praised Prime Minister Mark Carney for choosing “a strong, future-focused deal over a rushed one,” as the new tariffs are set to take effect from August 1(local time) CNN reported.

Cambodian PM hails 19% US trade tariff

Cambodian Prime Minister appreciated the United States' 19% tariff, calling it "the best news"

Thailand hails US Tariff as 'major success' and win-win for economy

Thailand on Friday hailed the 19 percent trade tariff imposed by US President Donald Trump as a “major success.”

Government spokesman Jirayu Huangsab said in a statement, “It represents a win-win approach aimed at preserving Thailand’s export base and long-term economic stability.”

Taiwan Pushes for tariff cut after US imposes temporary 20% levy

Taiwan has pledged to push for a lower tariff after the United States imposed a "temporary" 20% duty on its exports.

"The US has announced a temporary 20 percent tariff for Taiwan, with the possibility of further reductions should an agreement be reached," President Lai Ching-te said on Facebook, further added that the government will "strive for a reasonable tariff rate".

Trump signs order for new tariffs on dozen economies; to go into effect in 7 days

The tariffs will take effect on August 7, not on the earlier Friday deadline set by Trump. A senior official, speaking anonymously, said the delay allows time to align tariff rates. The measure covers 68 countries and the 27-member EU, while nations not named in the order will face a standard 10% tariff, AP reported.

Trump Tariff News Live: Trump signs order to impose higher tariffs on dozens of economies

The US announced raising Canada trade tariffs from 25% to 35%

Brazil vows to fight Trump tariff 'injustice'

Brazil has vowed to fight US President Donald Trump’s new tariffs on its exports, with finance minister Fernando Haddad calling the measures unjust despite some exemptions. If final talks fail, Brazil plans to appeal. The tariffs—now totaling 50%—target key exports like coffee and meat, and come amid Trump’s claims of a “witch hunt” against ally Jair Bolsonaro.

Trump tariff may dampen growing Indo-US business ties

The Trump tariff shock comes at a time when India-US business ties were gaining momentum. According to recent data from the US department of commerce, India ranked second in overseas business visitor numbers to the US this May, with around 43,000 arrivals—just behind the UK’s 50,000.

Going to prioritise our key trading partners for trade, says White House press secretary Karoline Leavitt

"Upwards of 200 countries around the world have reached out to the trade and tariff team...We are going to prioritise our key trading partners...The trade team has been working around the clock to try to be in correspondence with as many countries as possible, but if they haven't heard from us yet, they will in the form of a letter or an executive order by midnight tonight," she said.

Trump Tariff News Live: 'America is BACK. America is HOT,' says Trump

"Everybody that I speak with—money managers, business managers, CEOs—they all say the same thing: America is BACK. America is HOT, and it has everything to do with President Trump's policies,” he said in a post on Truth Social.

Irked by India's dogged refusal to conclude a trade deal on his terms, US President Donald Trump on Wednesday taunted New Delhi by weaponising an oil exploration deal with Pakistan, jibing that Islamabad may be selling oil to India someday. At the same time, frustrated by his inability to force Moscow to end its war on Ukraine, he also petulantly unloaded on India for buying oil from Russia, saying, "they can take their dead economies down together, for all I care."

At a White House presser, Trump also publicly identified India's membership of BRICS as another irritant, calling it an anti-American group that was trying to undermine the US dollar even though none of the countries in the covey have suggested as much, and he has concluded opaque or vaguely-defined trade deals with China, Brazil, and South Korea.

US President Donald Trump has warned major pharmaceutical companies to lower drug prices or risk facing serious consequences if he returns to power.

According to the White House, Trump has issued formal letters to 17 pharmaceutical firms, demanding they reduce prices for essential medicines. He also posted the letters on his Truth Social platform, declaring, “Big Pharma’s days of ripping off Americans are coming to an end.”

US President Donald Trump wants to develop ‘massive oil reserves’ with Pakistan, and has even said that India may end up being a potential buyer of this oil. Soon after announcing 25% tariffs on India, Trump revealed a trade deal with Pakistan. Exactly which ‘massive oil reserves’ Trump is referring to is yet unclear.

"We have just concluded a deal with the country of Pakistan, whereby Pakistan and the United States will work together on developing their massive oil reserves," Trump posted on Truth Social. "We are in the process of choosing the oil company that will lead this partnership. Who knows, maybe they'll be selling oil to India someday!” Trump said.

Despite Pakistan's persistent claims about significant coastal petroleum deposits, no substantial progress has been made till date in extracting these resources. Pakistan continues its efforts to attract investment for resource exploitation.

Congress MP Shashi Tharoor on Thursday mocked US President Donald Trump’s claim of a deal with Pakistan to develop "massive oil reserves," saying the Americans may be under an illusion.

“Let them look,” Tharoor remarked, adding, “I wish them luck.”

Trump had announced on Truth Social that the US had concluded a trade deal with Pakistan and would work with the country to explore its "massive oil reserves", a claim that raised eyebrows given the lack of known large-scale oil discoveries in the region.

Trump Tariff News Live: India's purchases of Russian oil 'point of irritation' in bilateral ties with US, says secretary of state Rubio

India's purchases of Russian oil are helping to sustain Moscow's war efforts in Ukraine and it is "most certainly a point of irritation" in New Delhi’s relationship with Washington, US secretary of state Marco Rubio said on Thursday.

"Look, global trade – India is an ally. It’s a strategic partner. Like anything in foreign policy, you’re not going to align 100 per cent of the time on everything,” Rubio said in an interview with Fox Radio.

Rubio was responding to a question on President Donald Trump’s announcement of the 25 per cent tariff on India and an additional penalty for buying Russian military equipment and energy, and how disappointed Washington is with Delhi because of this.

Rubio acknowledged India has “huge energy needs and that includes the ability to buy oil and coal and gas and things that it needs to power its economy like every country does, and it buys it from Russia, because Russian oil is sanctioned and cheap and – meaning they have to – in many cases, they’re selling it under the global price because of the sanctions.”

He added that "unfortunately, that is helping to sustain the Russian war effort. So it is most certainly a point of irritation in our relationship with India – not the only point of irritation. We also have many other points of cooperation with them.

"But I think what you’re seeing the President express is the very clear frustration that with so many other oil vendors available, India continues to buy so much from Russia, which in essence is helping to fund the war effort” and allowing this war to continue in Ukraine.

His comments came a day after Trump announced the imposition of a 25 per cent tariff on all goods coming from India starting August 1, plus an unspecified penalty for buying Russian crude oil and military equipment.

Trump Tariff News Live: President, trade team 'frustrated' with India over trade talks, says US treasury secretary

US treasury secretary Scott Bessent announced today that President Donald Trump and his trade team are "frustrated" with India's pace in ongoing trade negotiations. His comments follow Trump's recent declaration of a 25% tariff on all Indian goods, effective August 1st, along with potential penalties for India's purchases of Russian crude oil and military equipment.

Bessent told CNBC that India has been "slow rolling things" despite early engagement. He also criticized India's role as a major buyer and re-seller of sanctioned Russian oil, calling them "not a great global actor."

This move is widely seen as a pressure tactic by the US, which has recently secured favorable trade deals with other key partners. India, meanwhile, is examining the implications and vows to protect its national interests.

US President Donald Trump said Thursday he would hold off a planned tariff hike on Mexican products and instead keep duties at existing levels for 90 days after speaking with his counterpart Claudia Sheinbaum.

"We have agreed to extend, for a 90 Day period, the exact same Deal as we had for the last short period of time," Trump wrote in a Truth Social post. The country currently faces a 25 percent US tariff for goods not entering under a North American trade pact.

The United States has collected more tariff revenue in the first-half of 2025 than in all of last year, signalling a dramatic rise in income driven by President Donald Trump's aggressive trade policy.

As per news agency AFP, the US treasury recorded more than $87 billion in tariff revenue through June, surpassing the $79 billion collected in the entirety of 2024.

June alone brought in $26.6 billion in tariffs, nearly four times the amount recorded in January.

Trump Tariff News Live: A dive into bilateral trade between India and the US

From 2021 to 2025, the US has been India's largest trading partner for goods, making up roughly 18% of India's total exports and 6.22% of its imports. In the financial year 2024-25, bilateral trade reached $186 billion, with India exporting $86.5 billion and importing $45.3 billion. This resulted in a goods trade surplus of $41 billion for India.

Including services, India's total trade surplus with the US stood at $44.4 billion.

However, a different perspective from think tank GTRI suggests the US actually holds an overall surplus of $35-40 billion when factoring in revenue from education, digital services, financial activities, royalties, and arms trade.

US President Donald Trump lashed out Thursday at Jerome Powell after the US central bank continued to hold rates steady again, calling him "too stupid" to be Federal Reserve chairman.

"He is TOO LATE, and actually, TOO ANGRY, TOO STUPID, & TOO POLITICAL, to have the job of Fed Chair," Trump said on his Truth Social platform, after the Fed decided a day earlier to hold its key lending rate steady for a fifth straight meeting.

The imposition of a 25 per cent US tariff on Indian goods from August 1, along with an unspecified penalty over India’s continued trade with Russia, could weigh on India’s GDP growth and export prospects, experts have warned. Sectors such as pharmaceuticals, gems and jewellery, textiles, and automobiles are likely to be most affected.

While the tariff blow is expected to lower India’s GDP by up to 30 basis points, analysts believe the impact could be mitigated through an eventual trade agreement between the two countries, helped by India’s domestic demand-driven growth model.

Trump Tariff News Live: 'PM Modi is not a Prime Minister who makes any decision under pressure', says Maharashtra deputy CM Shinde

'The Government is confident that we will continue our swift journey of inclusive and consistent development towards the goal of Viksit Bharat 2047': Commerce minister Piyush Goyal

'In less than a decade, India came out of 'Fragile Five' economies and it has now become the fastest-growing economy of the world. On the basis of the hardwork of reforms, farmers, MSMEs and industrialists, we have come in the top 5 economies of the world from the 11th largest economy. It is expected that we would be the third largest economy in a few years. Today, global institutions and economists see India as a bright spot in the global economy': Commerce minister Piyush Goyal in Lok Sabha

'Government is examining the impact of the recent events. Ministry of commerce and industry is holding talks with exporters, industries and all stakeholders and gathering information on their assessment of this issue. Government gives utmost priority to the safeguarding of welfare of farmers, labourers, entrepreneurs, industrialists, exporters, MSMEs and stakeholders of the industrial sector. We will take all necessary steps to safeguard our national interest': Commerce minister Piyush Goyal in Lok Sabha

'In March 2025, India and the US started talks for a just, balanced and mutually beneficial Bilateral Trade Agreement (BTA). The goal of this was to finish the first stage of the Agreement by October-November 2025': Commerce minister Piyush Goyal in Lok Sabha

Donald Trump says tariffs 'Making America great & rich again'

In a recent post on Truth Social, Donald Trump lauded the impact of tariffs, claiming they are "making America GREAT & RICH Again."

He asserted that these economic tools, previously used against the US, had a "devastating impact" on the nation's future and survival. Now, according to Trump, the "tide has completely turned," and America has successfully countered this. He celebrated the nation's economic rebound, declaring that "ONE YEAR AGO, AMERICA WAS A DEAD COUNTRY, NOW IT IS THE “HOTTEST”COUNTRY ANYWHERE IN THE WORLD." He concluded with "CONGRATULATIONS TO ALL!" on what he views as a major economic success.

'India to take all steps to protect national interests': Commerce minister Piyush Goyal in Lok Sabha

'Government examining implications of just announced 25 per cent US tariffs on Indian goods' : Commerce minister Piyush Goyal in Lok Sabha

Trump Tariff News Live: Union minister of commerce and industry Piyush Goyal starts speaking in Lok Sabha on the reciprocal tariff imposed by the US

US President Donald Trump on Wednesday announced a fresh round of import tariffs on Indian goods, slapping a 25 per cent additional duties along with an unspecified penalty. The new duties, which come into effect on August 1, are being imposed in response to India’s ongoing high tariffs and purchases of crude oil and military hardware from Russia.

The announcement has come despite ongoing trade talks between the two countries, catching many by surprise and triggering volatility in financial and export markets.

Trump Tariff News Live: Major products in the trade between India and US

In 2024, trade between the US and India saw a diverse exchange of goods. India's top exports to the US included pharmaceuticals ($8.1 billion), telecom instruments ($6.5 billion), and precious stones ($5.3 billion). Petroleum products and vehicle components also featured prominently.

Conversely, India imported significant amounts of crude oil ($4.5 billion), petroleum products ($3.6 billion), and coal ($3.4 billion) from the US.

Other major imports included cut and polished diamonds, electric machinery, aircraft, and gold.

Munjal Almoula, Head of tax, BDO India talks about US tariffs on India

"During ongoing negotiations for a trade deal between India and USA, the President of the United States has announced a 25% tariff on India (and an unspecified penalty). While the levy of additional tariff initially announced on 2nd April was deferred till 1st August to allow negotiation of trade deals with various countries, with this announcement, it is likely that the additional tariff would be imposed on exports from India, unless there is a last-minute extension of time for further negotiation," he said.

The trade deal with USA, one of our biggest trading partners, involves navigating negotiations since there are various sensitive issues like GM crops, imports of dairy products etc., which are important for the Indian economy. Unless there is an agreement on safeguarding India’s interest on these issues as well as other similar issues such as bilateral agreement on digital services tax, stand for continuation for moratorium on customs duty on digital transmissions etc, such a deal may impact India's interests, and we would need to carefully assess the imperative of any such trade deal," he further added.