Monday, September 14
China's exports beat forecasts in July, as manufacturers made the most of a fragile tariff truce between Beijing and Washington to ship goods ahead of a looming deadline later this month. Outbound shipments from the world's second-largest economy rose 7.2% year-on-year in July, customs data showed on Thursday, beating a forecast 5.4% increase in a Reuters poll and June's 4.8% growth. Imports grew 4.1%, following a 1.1% rise in June. Economists had predicted a 1.0% fall. China is facing an August 12 deadline to reach a durable tariff agreement with the U.S. administration, after Beijing and Washington reached framework agreements in May and June to reduce non-tariff barriers such as rare earth minerals and technology to avoid further escalating their trade war.Also Read: Trump's additional
US President Donald Trump has imposed an additional 25 per cent tariff on imports from India and economist feel the move could dent the India's GDP growth in FY26 by 0.4 per cent.Sonal Badhan, Economics Specialist at Bank of Baroda, told ANI, "We had initially priced in approx. 0.2 per cent impact (on GDP growth) of 25-26 per cent tariffs imposed by the US on imports from India. The additional 25 per cent hike will come into effect after 21 days. During this time or in the coming months, there is a likelihood that lower rates may be negotiated."She added that depending on the final trade agreement, the total impact of these tariffs on GDP growth may range between 0.2-0.4 per cent. Sectors likely to be affected include garments, precious stones, electronics, pharma, auto parts, and MSMEs."T
