Monday, October 12
Ongoing tariff war triggered by reciprocal tariff by the Trump Administration provides an opportunity for India in some sectors, Chief Economic Adviser V Anantha Nageswaran said on Thursday. Addressing the CII Annual Business Meet here, he said India actually has a few silver linings which include low energy prices at the moment. Besides, he said, "regardless of how the tariff numbers will play out after 90-day expiration from the Liberation Day on April 2, or the 90 days given to China from May 12, etc, there will be some sectors where India did not enjoy an advantage before, it may enjoy an advantage later. That's also an opportunity from tariff perspective". The US on April 2 imposed an additional 26 per cent reciprocal tariff on Indian goods, but later suspended it for 90 days till Jul
A U.S. federal court has deemed President Donald Trump's 'Liberation Day' tariffs as illegal and blocked his plan to impose sweeping import tariffs under emergency powers, striking down a major element of his trade policy. In a ruling delivered on Wednesday, a three-judge panel at the Court of International Trade in Manhattan declared the executive orders issued on 2 April unlawful. These orders had introduced a 10% baseline tariff on most goods entering the U.S. and higher duties on imports from countries with large trade surpluses, such as China and the European Union. The court said Trump’s use of the International Emergency Economic Powers Act (IEEPA) to justify the tariffs violated constitutional limits on presidential authority. The judges noted in their opinion, “An unlimited de
