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The United States has imposed a preliminary duty of 126 percent on solar panels imported from India amid allegations of subsidies, triggering panic among traders. Following the tariff announcement, solar-related stocks witnessed a sharp decline.
US President Donald Trump has said he will impose global tariffs of 15%, as he continues to rail against a Supreme Court ruling that struck down his previous import taxes.
The BBC is learning new details about Trump’s plans to impose new tariffs that could, essentially, replace those struck down by today’s ruling.
Days after India signed a trade deal with the United States, Bangladesh on Tuesday (February 10) struck a fresh trade deal with Washington, securing zero reciprocal tariffs on certain textile and apparel goods and a 19% reciprocal tariff compared to 20% earlier, which has sent shares of Indian textile exporters tumbling.
India aims to sign the formal pact for the first tranche of its Bilateral Trade Agreement (BTA) with the United…
US trade representative Jamieson Greer on Tuesday outlined the Trump administration’s rationale for imposing an 18% tariff on India goods, citing Washington’s large trade deficit with New Delhi.
India-US trade deal announced: US President Donald Trump on Monday announced that India and the US have finalised a trade deal. Ahead of the announcement, Trump spoke to PM Modi.
The leader of the Opposition in the Lok Sabha, Rahul Gandhi , on Friday flagged what he called a “deepening crisis” in India’s textile sector due to the high U.S. tariffs and urged Prime Minister Narendra Modi to intervene, saying the issue was threatening jobs and small businesses.
The US-India Bilateral Trade Agreement will be announced before the end of this month after the US withdraws the penalty tariff. India will allow duty-free import of soyabean, corn and certain dairy products.
In a major development, China has slashed the 30 percent import duty on Indian pharmaceutical products to zero.