TARIFFS
India-US trade deal enters fine-tuning stage as most talks conclude, says Piyush Goyal
India and the US are refining their bilateral trade agreement after concluding most discussions on the deal. Commerce Minister Piyush Goyal indicated significant progress has been made towards finalizing the agreement. Recent talks have involved high-level meetings between officials from both nations, focusing on tariff reductions and trade frameworks. Goyal is currently leading a significant delegation to the Netherlands and Germany to promote bilateral business ties.
India's gold import route changing course for a benefit all jewellers want
India is diversifying its gold import sources as expanding domestic refining capacity, tax incentives and the India-UAE trade pact reshape supply chains. Switzerland’s share of India’s bullion imports fell to 21.9% in FY26 from 42.4% five years earlier, while the UAE’s share rose to 16.5% from 10.8%, according to Crisil Intelligence.
Is India a “shadow transshipment” hub? The data says otherwise
Between 2014 and 2024, India’s goods exports to the US grew 1.86 times, while US exports to India grew 1.94 times. A rising two-way relationship, with India’s global exports also up 1.36-fold, is hard to square with a “mere pass-through” story tailored to one market.
Gap apparel supplier Gokaldas eyes doubling Europe exports share to cut US reliance
Gokaldas Exports, a prominent Indian apparel supplier, expects to increase its export share to Europe significantly. The company currently derives 15% of its exports from Europe, anticipating this to rise to around 25%-30% in three to five years. This change is expected due to a proposed trade agreement between India and the European Union.
US Midterms 2026: Audi’s $4.2 billion bet gives Trump tariff ammo in battleground Georgia
Trump is defending his tariff policy ahead of the US midterms, touting Volkswagen’s $4.2 billion investment in Audi’s first US plant in Georgia as a manufacturing win. The project promises 4,500 jobs, but Republican candidates face mounting voter concerns over inflation, living costs and Trump’s falling approval ratings.
Operation Sindoor enters US Midterms as Trump boasts mediation
During a rally in Florida, Trump claimed he stopped a potential war between India and Pakistan through tariffs. He expressed that these actions prevented escalation following the Pahalgam terror attack. Trump mentioned the shooting down of eleven planes as evidence of conflict, which he alleges he resolved without UN involvement. Despite his assertions, India has consistently rejected Trump's claims of brokering peace between the two nations.
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'Told them we will put 250% tariffs...': Trump reiterates claim of India-Pakistan ceasefire through tariff threat
Donald Trump addressed a rally, asserting he halted hostilities between India and Pakistan with trade tariff threats. He claimed that his ultimatum led to both countries de-escalating their military actions. India, however, disputed Trump's assertions, particularly about aircraft losses during the conflict. The Indian government has consistently rejected any external mediation regarding its military operations.
US weighs lifting 50% tariffs on some Canadian goods to help Susan Collins win re-election: Report
The United States is expected to withdraw 50% tariffs on certain Canadian goods to assist Republicans. This decision is likely to be announced soon, potentially influencing the midterm elections. Maine Senator Susan Collins has advocated for relief from tariffs affecting her state’s economy. Competitive candidates in trade-dependent states may benefit from the proposed changes in tariffs. The future adjustments aim to mitigate the impact of Trump's trade war with Canada.
Domestic cos need strategic approach to tap India-Europe FTA gains: FICCI
Indian companies must adopt a strategic approach to fully leverage the European free trade agreement benefits, as tariff concessions alone may not suffice. The focus should be on product quality, market penetration, and building significant relationships with European buyers. Compliance with European standards will be crucial for export success, particularly for small enterprises.
India has huge scope to expand processed food exports to UK after trade pact: TPCI
India's processed food exports to the UK represent significant growth potential with only a 0.6 percent share. The India-UK Comprehensive Economic and Trade Agreement eliminates tariffs on various food products. As a result, Indian producers gain immediate competitive advantages in these markets. Trade missions, market intelligence sharing, and SME growth opportunities are key focuses of the TPCI-UKIBC partnership.
Carney says Trump's tariffs hurt Americans as US alleges Canadian interference
Canadian Prime Minister Mark Carney outlined a significant financial plan for supporting manufacturing in Ontario. This strategy includes billions to assist steelmakers, automakers, and critical mineral development. Carney emphasized that U.S. tariffs have negatively impacted trade relations and increased costs for American consumers. Ontario Premier Doug Ford stated that the diplomatic relationship with the U.S. has permanently changed.
'Ease non-tariff curbs to ensure alcohol enters the market freely'
"The spirit of the free trade agreement is twofold-tariffs and regulations that ensure businesses operate a bit more freely," Ian Duddy, the association's international director, told ET in an interview. "Even with tariffs reduced, the products still get sampled and tested," he said, but added: "Obviously, alcohol and all food products need to be regulated. We're not arguing against that."
Rubio says India-US trade deal is ‘very, very close’ after Jaishankar meeting
US Secretary of State Marco Rubio stated that negotiations for a trade deal with India are approaching completion. He highlighted discussions with Indian Foreign Minister Subrahmanyam Jaishankar about energy security and defense cooperation. While tensions over tariffs and energy continue to challenge negotiations, both countries aim to deepen their economic ties. Rubio’s visit to India includes a tour of the Reliance Industries refinery and meetings with business leaders.
India-NZ FTA in force: Over half of New Zealand’s exports to India now tariff-free, Wellington also eyes Brazil, Canada
New Zealand is working to strengthen trade relations with Brazil and Canada in response to economic uncertainties. The country expects to complete the first New Zealand-Brazil Trade and Investment Dialogue after upcoming elections. A new free trade agreement with India has been implemented, making more than half of exports tariff-free. The agreement will benefit various products, including sheep meat and wool, as well as local businesses.
China signals intent to push back against cleantech tariffs at COP31
China aims for the COP31 summit to discuss new challenges like tariffs on its clean technology. The country emphasizes the need for climate finance for developing nations as a priority at the conference. Officials have raised concerns over unilateralism and protectionism affecting global climate efforts. China also highlights its leadership in producing renewable energy technology such as solar panels and electric cars.
Copper stays range bound as US tariff uncertainty, oil inflation risks weigh
Copper prices remained range bound as uncertainty over potential US tariffs and inflation risks from higher oil prices kept traders cautious. China’s copper scrap shortage supported refined copper demand, while record high US inventories and cautious buying limited gains. Goldman Sachs expects copper prices to average $15,400 a ton in 2027.
Tariff quota notified for New Zealand fruits, honey
Kiwifruit imports will qualify for zero customs duty under the tariff rate quota (TRQ), subject to a minimum CIF value of $1.80 per kg while 40 tonnes of New Zealand-certified Manuka honey under the quota have been permitted for 2026. The annual limit will increase to 200 tonnes from 2027.
Tread carefully on trade: India must hold its ground as Trump’s tariff stick loses its bite
India is navigating complex trade negotiations with the United States, focusing on tariffs and energy imports. Though a trade deal is pending, India prioritizes solid assurances to protect its interests. Indian exports to the US have increased notably, contributing to a reduced trade deficit recently. Additionally, India seeks to maintain stable energy supplies amid fluctuating global oil dynamics.
India-New Zealand FTA kicks in October 20, gives all Indian goods zero-duty access
India's free trade agreement with New Zealand will begin on October 20 and provide duty-free access for Indian goods. This agreement aims to boost bilateral trade significantly by 2030, increasing it from $2.4 billion to nearly ₹35,000 crore. New Zealand will grant 100% market access, while India will provide tariff concessions on 70% of its tariff lines. Customs clearance timelines will be expedited, enhancing trade efficiency and reducing costs.
India-New Zealand FTA to kick in October 20, opening market opportunities for exporters
The India-New Zealand Free Trade Agreement will come into effect on October 20, enhancing trade for both nations. New Zealand expects increased demand for its agricultural products, particularly kiwifruit, honey, and apples, in India. The agreement includes provisions to ensure tariff-free access for Indian goods in New Zealand's market. Both countries aim to strengthen economic ties and improve productivity in agricultural sectors.
India probing Pernod, Diageo Scotch imports under India-UK trade pact, sources say
Indian tax officials are investigating Pernod Ricard and Diageo for how they classified bulk Scotch imports. These companies may have improperly benefitted from reduced tariffs under a recent trade agreement. Tax inspectors made surprising visits to both companies' offices to gather information about their practices. The investigations are part of a broader scrutiny faced by foreign investors in India.
Trump waives Russia sanctions, easing India’s energy concerns as US trade deal nears
US President Donald Trump waived key Russian sanctions which may enhance trade relations with India. This decision is expected to provide negotiating space for a potential trade deal. India, one of the largest importers of Russian oil, faces challenges due to declining imports. Secretary of State Marco Rubio is visiting India to discuss cooperation on this matter. The waiver could help India secure more favorable tariffs while stabilizing energy policies.
India notifies first New Zealand FTA duty cuts; sheep meat gets zero duty, kiwi fruit at 15%
India has notified the first set of customs duty concessions for imports from New Zealand under their free trade agreement, effective October 20. The preferential rates cover products such as wine, manuka honey, kiwi fruit and sheep meat, with limited quantities of select goods allowed under tariff-rate quotas and dairy and other sensitive sectors excluded.
500%, 100%, then a waiver: How India escaped Trump's Russia tariff threat
In the beginning it was 500%, then it came down to 100% and then, a waiver. This is how the tariff threat has evolved from an ambitious proposal into a more flexible instrument of policy for Trump and US. For India, the immediate danger has receded. But with US retaining the power to reinstate the measures, the waiver offers relief rather than a lasting resolution.
Christmas cheer, but caution remains: Exporters welcome US tariff relief, keep diversification plans
US President Donald Trump’s decision to waive proposed tariffs of up to 100% on buyers of Russian oil has eased uncertainty for Indian exporters ahead of the crucial Christmas shipping season. However, businesses across textiles, gems and jewellery, and human hair products say they will continue diversifying export markets after last year’s tariff turmoil, even as the US remains a key destination for Indian goods.
Trump looks to rein in fuel prices ahead of midterms; waives threat of 100% tariffs on India over Russian oil, citing ‘national interest’ as US inks diesel pact with Moscow
US President Donald Trump has waived fresh sanctions and duties on Russian energy exports under a new law, citing national interest and easing concerns over potential tariffs of up to 100% on major buyers, including India. The move comes as India continues to rely on Russian crude and explores long-term LNG supplies, while New Delhi and Moscow seek to expand cooperation across oil, gas, mining and steel.
US tariff waiver on Russian crude a comforting relief, but trade uncertainties persist: CareEdge Chief Economist Rajani Sinha
CareEdge Chief Economist Raj Sinha said the US decision to waive sanctions provisions that could have led to tariffs of up to 100% on India offers economic relief, but New Delhi must remain cautious and pursue a comprehensive trade deal with Washington.
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