non tariff countermeasures

President Trump's Beijing visit concluded without major breakthroughs, highlighting a widening gap in core interests between the US and China. While projecting stability, the meetings revealed limited cooperation on issues like Iran and Taiwan, with trade offering the only tangible deliverables. Both leaders claimed victory, entering a transactional phase focused on leverage.

The European Union has decided to halt its tariffs on goods from the United States for 90 days. This follows a similar move by US President Donald Trump. Ursula von der Leyen, European Commission President, confirmed this suspension to allow trade negotiations. However, she warned that countermeasures will be taken if talks fail.

China has rebuffed US tariffs linked to the fentanyl crisis, asserting it's an American problem. Despite a temporary tariff truce and pledges to reduce import duties, the US maintains a 20% tariff due to China's alleged inaction on fentanyl. Both countries aim to ease trade tensions with tariff adjustments set to begin on May 14.

Mexican President Claudia Sheinbaum has ordered the introduction of tariff and non-tariff measures in response to new US tariffs. She aims for cooperation, rejecting claims of cartel alliances, and highlighting efforts against fentanyl trafficking and drug-related crime.

Canada imposed a 25% tariff on non-CUSMA-compliant US vehicles in response to US auto tariffs. Prime Minister Mark Carney stated that this move aims to protect the Canadian auto industry and will not affect auto parts. The government is also pursuing legal action through the World Trade Organization to challenge the US tariffs.

President Donald Trump announced new tariffs, imposing a 10% baseline tax on most imports, with increased rates for nations with trade surpluses. Notable exceptions include Canada and Mexico due to existing agreements. High tariffs target China, the EU, South Korea, Japan, and Taiwan, with a new 25% tariff on all foreign-made automobiles, sparking concerns of global retaliation.

GTRI advises India to address Trump's new steel and aluminium tariffs within the ongoing FTA talks with the US. This approach aims to persuade the US to reduce or eliminate these tariffs, leveraging the FTA negotiations for market access benefits.

The United States and China have agreed to a 90-day part suspension of tariffs, signaling a potential breakthrough in trade negotiations. US Treasury Secretary Scott Bessent announced the suspension alongside a commitment to significantly reduce existing tariff rates by 115%.

Yoga guru Baba Ramdev criticized US President Donald Trump for imposing reciprocal tariffs, labeling the act as 'tariff terrorism' and 'economic terrorism'. Ramdev urged India to unite and build a strong nation in response. Negotiations for a Bilateral Trade Agreement between India and the US are ongoing.

India's Commerce and Industry Minister, Piyush Goyal, has announced that the country will strongly raise the issue of carbon tax with the European Union (EU) and work towards converting it into an opportunity. Goyal expressed concerns over non-tariff barriers and unilateral measures like carbon taxation, but assured that India will respond in a fair and compliant manner within the rules of international trade.

Amidst ongoing trade deal discussions, US President Donald Trump's advisor Peter Navarro criticized India's high tariffs and Russian oil purchases, alleging it funds Russia's war efforts. Despite these tensions, a US trade negotiator is in India for preliminary talks, aiming to revive the suspended bilateral trade agreement negotiations.

US and China have agreed to a temporary truce in their trade war, pausing new tariffs and export curbs. Key deals include China resuming significant soybean purchases, US cutting fentanyl-related tariffs, and China lifting rare-earth export restrictions. This de-escalation offers a year-long window for further negotiations.

US President Donald Trump has announced sweeping new tariffs on all imports, starting with a universal 10% baseline and steeper rates of up to 50% for certain countries. The move, aimed at reducing trade deficits and boosting domestic industry, targets major trade partners including China, India, Japan, and the EU, and is expected to have significant economic implications.

President Trump announced 30% tariffs on the EU and Mexico starting August 1, citing trade deficits and border security concerns. He claims these tariffs will revive the US economy, despite acknowledging Mexico's help with migration. The EU vows to safeguard its interests and consider countermeasures, urging continued negotiations to avoid a trade war.

The spirits industry is ringing alarm bells. Distillers warn that these tariffs could devastate their export business, particularly in key growth markets like Germany and France. Retaliatory tariffs from the US could also follow, escalating the situation further.

US President Donald Trump has announced the imposition of reciprocal tariffs starting April 2025 on countries with higher duties on American exports. This move will significantly impact Asian economies - but how vulnerable is India? What will be the impact of Trump's tariff move? We take a look:

The US-China tariff war escalated sharply, with the US imposing 104% tariffs and China retaliating with 34%. Amid rising tensions, China released a White Paper condemning US protectionism and unilateralism, warning of economic instability and disrupted global trade. It calls for equal dialogue and multilateral cooperation to resolve differences and maintain global economic order and stability.

US President Joe Biden ended one front in a Trump-era trade war when he met European Union leaders on Tuesday by agreeing a truce in a transatlantic dispute over aircraft subsidies that had dragged on for 17 years. The EU also lifted its tariffs on US steel and aluminium for six months in the hope that the United States will do the same for Europe.

Donald Trump has rekindled the US-China trade war by imposing 20% tariffs on Chinese imports, citing national security concerns. This move has led to retaliatory measures from China, including tariffs and increased military spending. Both nations are poised for a prolonged economic conflict, with significant stakes for global trade and geopolitical supremacy.

Staging a mild recovery from a record closing low, the rupee edged up by 8 paise to end at 68.87 against the US currency, largely tracking gains in key Asian units amid weak dollar tone overseas.

Amidst the trade tensions between the US and China, India emerges as a key player. Companies like Apple are shifting production to India. This shift is due to tariffs and India's conciliatory trade stance. The Indian government is providing incentives to boost manufacturing. While challenges remain, India is well-positioned to benefit from the global supply chain shifts.

Trump's tariffs on steel and aluminum have led to an international boycott of US goods. European and Canadian consumers are rejecting American products in response to perceived unfair trade practices. The boycott has affected various industries, including liquor, automobiles, and tourism. If the boycott continues, American brands may need to rebrand or relocate manufacturing.

President Trump extended the US-China tariff truce for 90 days, aiming to de-escalate tensions. Xi Jinping is strategically weaponizing China's control over key supply chains, like rare earths, to exert economic pressure on the US and its allies. This approach allows China to target critical industries and defense sectors, potentially reshaping global trade dynamics.

Trump’s 50% tariffs kicked in just days after India hired a second lobbying firm. While Pakistan’s lobbying moves appear to have paid off, New Delhi’s still struggling to achieve a breakthrough in ties with the US. This could be why