Courtesy: Gateway House
Under U.S. President Donald Trump’s reciprocal trade policy, the original five BRICS member countries account for the highest U.S. tariffs globally. India and Brazil are facing the highest tariffs of 50%, while China follows with a tariff of 34%, down from 145% earlier in the year. This infographic details the U.S. reciprocal tariff rates for each BRICS+ member and the sectors that are impacted.
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India has been hit by the imposition of 50% tariffs on Indian exports to the U.S. It will break India’s exports and many businesses, especially MSMEs. There are ways to mitigate the effects, one being to grant a 5% subsidy to affected exporters. This can be swiftly executed by the EXIM Bank of India.
Courtesy: AFP
India-U.S. trade negotiations have faltered. India stepped outside its comfort zone to offer zero tariffs on industrial goods that form 40% of U.S. exports to India, but the additional 25% tariffs have rendered most Indian exports noncompetitive. Only a carefully balanced, incremental negotiating framework blending economic pragmatism with protection of core domestic interests backed by political will, stands a realistic chance of bridging the current impasse.
Courtesy: Gateway House
Who makes, imposes, administers and collects U.S. tariffs? The U.S. Congress, but for the last several decades, it has been at the discretion of the U.S. President, who has been given tariff-setting authority. Under the International Emergency Economic Powers Act, 1977, U.S. President Donald Trump has imposed reciprocal and universal tariffs on over 60 countries.
Courtesy: Kent Nishimura/Reuters
The political setback by the ruling coalition in Japan in the July 20 Upper House elections reflects growing frustration with the mainstream political parties. Young people frustrated with high costs have resulted in a fragmentation of Japan’s political landscape, and the rise of the right. The “Trump effect” has found fertile ground in Japan’s political soil.
Courtesy: Times Now
India and the U.S. are now on the verge of establishing a comprehensive trade agreement, overcoming a long history of bilateral trade challenges. This is a pivotal moment that could lead to mutual benefits and a deeper partnership. It will also illumine the path for other modern trade agreements that India is currently negotiating with multiple countries.
Courtesy: Narendra Modi on X
U.S. President Donald Trump is determined that India lower tariffs on American imports. He is sending his top representatives to communicate with officials in New Delhi before his own arrival in the Indian capital, aiming to finalize the proposed bilateral trade agreement.