us safeguard tariffs

As President Trump arrives in Beijing, anticipation runs low for any breakthroughs regarding China's influence over Iran and the vital Strait of Hormuz. His agenda includes discussions on trade and the pressing issue of fentanyl, yet underlying tensions over their differing views on geopolitical conflicts threaten to overshadow these talks.

President Trump's evolving stance on Taiwan ahead of his summit with Xi Jinping sparks concern. Despite a large arms sale, Trump has questioned Taiwan's role in semiconductor business and sought payment for protection. Analysts fear Taiwan could be a bargaining chip, though US officials maintain policy remains unchanged.

Under the proposed interim trade deal, the US has lowered tariffs on India from 50% to 18%. In August last year, Trump had imposed a 25% reciprocal tariff on India and an additional 25% penal tariff for India’s crude oil purchases from Russia.

RBI is not alone in repatriating its gold reserves. Several central banks like France’s Banque de France, Germany’s Deutsche Bundesbank, Serbia’s National Bank have done the same - buy why?

India and New Zealand have signed a 'once-in-a-generation' trade pact, granting Indian exporters duty-free access to New Zealand. The agreement aims to double bilateral trade to $5 billion in five years and includes a $20 billion investment commitment from New Zealand. Both nations are optimistic about the pact's potential to boost economic growth and cooperation across various sectors.

South Korean President Lee Jae Myung emphasized close collaboration with India as emerging global leaders amidst geopolitical uncertainty. He highlighted shared values and complementary economies, advocating for upgraded trade agreements, defense industrial cooperation, and joint ventures in critical minerals and shipbuilding to foster mutual growth and innovation.

The World Trade Organization's ministerial meeting in Cameroon will focus on reforming the 30-year-old body. The US and EU aim to expand talks to new issues and recognize plurilateral agreements, while India will advocate for farm trade reforms and preserve the WTO's core principles, prioritizing small farmers and policy space for developing economies.

Asked about the India-EU FTA and the opportunities it can throw up, Ashish Gupta said that Škoda believes that the trade agreement will not only enable import of European cars to India at a lower duty, but will also create opportunities for export of India-made cars.

Trade ministers convene for WTO's MC14 in Cameroon, facing deep divisions on key issues like e-commerce, agriculture, and fisheries subsidies. Limited outcomes are expected as developing nations, including India, push to preserve policy space against developed countries' demands for broader liberalization.

India is poised to finalize trade deals with the US within months, pending clarity on American tariff strategies. New Delhi remains committed, aiming for favorable terms for its farmers, including market access for mangoes without reciprocal farm product commitments. The nation has secured a competitive advantage, with assurances for domestic apple and walnut producers.

Piyush Goyal’s comments assume significance after the US Supreme Court ruled that Donald Trump administration's reciprocal tariffs are illegal. Soon after, Trump signed an executive order to impose a 10% global tariff on America’s trading partners.

The US has spent a staggering $3.4 trillion on a "militarised rivalry" with China since 2012, a figure dwarfing its Afghanistan war costs. This massive peacetime spending, driven by a strategic pivot to Asia, highlights Washington's determination to avoid repeating past "mistakes" with Beijing, particularly concerning technological transfers and economic engagement, as it now recalibrates its approach with India.

China reiterated its opposition to unilateral tariff hikes following the US Supreme Court's decision striking down President Trump's tariffs. The court ruled the President lacked authority under IEEPA to impose such duties. Beijing urged the US to remove all unilateral tariffs, while Trump indicated plans for new tariff actions.

The US has informed the WTO that its steel and aluminium tariffs were imposed for national security, not as a safeguard measure, challenging India's complaint. India argues the tariffs are essentially safeguards, requiring WTO notifications and consultations. The US maintains it acted under a national security statute, shielding the move from WTO scrutiny.

India is expected to push for clauses that protect against similar judicial setbacks in the future. One source noted that the decision has materially weakened Trump’s negotiating leverage.

India plans to impose tariffs on US goods. This action responds to US tariffs on steel and aluminium. The US tariffs impact Indian exports significantly. India's move could affect ongoing trade talks between the two nations. India had previously retaliated against similar US actions. The country reserves the right to modify its tariff plans based on future developments. The WTO has been notified of India's intentions.

India has proposed retaliatory tariffs against the United States under WTO regulations, responding to American duties on steel and aluminium imposed as safeguard measures. This action, impacting US imports worth $7.6 billion, comes amidst ongoing trade deal talks between the two nations.

India has sought consultations with the US, under the WTO's (World Trade Organisation) safeguard agreement, against American authorities' decision to increase import duties on derivatives of steel and aluminium products.

India has proposed retaliatory duties against the US for imposing tariffs on auto parts imports, citing violations of WTO norms. The US safeguard measure, a 25% tariff increase, impacts nearly $2.9 billion in Indian exports. India reserves the right to suspend concessions on US products, aiming for equivalent duty collection, as consultations have not occurred.

Bharat has formally requested consultations with the United States under the WTO. This challenges American tariffs on automobile parts. The move follows Bharat's earlier decision to reserve the right to impose retaliatory duties on select US goods. This is in response to Washington’s tariffs on steel and aluminium. Bharat seeks to discuss the implications of the US measure.

The US has informed the WTO that it sees no basis for India's proposal to suspend concessions in response to American tariffs on steel and aluminium. India had proposed retaliatory duties on 29 American products, claiming the US tariffs would affect $7.6 billion in imports.

India has reserved its right to impose retaliatory tariffs on the US following a 25% tariff on Indian auto parts, a procedural move under WTO safeguards. This action won't impede ongoing trade deal talks, aiming for a $500 billion bilateral trade by 2030. An interim agreement is expected before July 9, but uncertainty remains.

The United States has rebuffed India's request for WTO consultations regarding American tariffs on automobiles and auto components, asserting the tariffs were implemented under a national security provision. The US maintains these measures under the essential security exception within global trade regulations, stating they are not safeguard measures subject to WTO's Agreement on Safeguards.