Trump-Xi meet aftermath: China extends 24 per cent tariff suspension deal by a year; base 10 per cent duty to remain

China on Wednesday announced it will extend the suspension of an additional 24 per cent tariff on American goods for another year, while retaining a 10 per cent general tariff.According to a statement on the Ministry of Finance website, as cited by AFP, the State Council approved the measure, saying that “for one year, the […]

GST Rate Cuts Propel India’s Manufacturing Growth Despite US Tariff Challenges, ETCFO

New Delhi, Nov 4 (IANS) GST rate cuts have led to retail price reductions and increased household spending, which have offset the tariff-related impact on Indias exports, a report said on Tuesday. GST rate cuts have led to retail price reductions and increased household spending, which have offset the tariff-related impact on India’s exports, a […]

US Supreme Court will decide the fate of Trump’s tariff on Wednesday, ETCFO

The U.S. Supreme Court will hear a crucial case on November 5 that could redefine presidential authority over trade and reshape global economic relations. The case, Learning Resources Vs Trump, will decide whether a U.S. president can use emergency powers under the International Emergency Economic Powers Act (IEEPA) to impose tariffs without congressional approval. The […]

Economy

India should halt sanctioned oil imports, seek tariff relief, and fair trade talks with US: GTRI

India should halt sanctioned oil imports, seek tariff rollback, and resume trade talks only on fair terms with US, the Global Trade Research Initiative (GTRI) said in a note, outlining a three-step plan for India to protect its trade interests under the ongoing bilateral trade agreement negotiation with America. According to GTRI, India must first […]

Tariff row: GTRI’s 3-step plan for India to protect its interests; key remarks on Russian oil

Global Trade Research Initiative (GTRI) has proposed a three-step strategy to safeguard India’s trade interests as discussions with the United States have stepped into the “advanced stage.” The agency has suggested measures like scaling back Russian oil imports, seeking trade parity and resuming talks on fair terms. ‘Very Good…’: Trump Drops Major Russian Oil Reveal […]

Economy

IPC hopeful of tariff reliefs as US demand for pepper remains strong

The global pepper production in 2025 is estimated at around 520,000 tonnes, marking a modest contraction compared with 2024 due to weather variability in several origins With the US market demand for pepper continues to be strong, the International Pepper Community is hopeful of achieving a constructive path towards tariff exemption through ongoing dialogues. Marina […]

China trade thaw: Beijing pauses rare earth export curbs for 1 year after Xi-Trump talks, signals easing in tariff and tech tensions

China said on Thursday it will suspend for one year certain export restrictions, including those related to rare earth materials, that were announced earlier in October, signalling a temporary easing in trade tensions with the United States, AFP reported.According to Beijing’s commerce ministry, the decision to “suspend the implementation of the relevant export control measures… […]

India-EU FTA: Talks gain momentum; Brussels delegation to finalise tariff issues in New Delhi

Piyush Goyal holds talks with EU Commissioner Maros Sefcovic on India-EU FTA negotiations The negotiating teams of India and the European Union are making significant progress on tariff-related issues, with an EU delegation set to visit New Delhi next week to further narrow gaps for an early conclusion of the proposed free trade agreement (FTA).Commerce […]

Economy

American spices body seeks tariff relief as US-India trade talks gain momentum

Laura Shumnow, Executive Director, The American Spice Trade Association (ASTA). The American Spice Trade Association (ASTA) is pinning its hopes on the new trade deal between the US and India as the Trump administration’s tariffs have choked black pepper exports from India. The entire industry in the US such as food, culinary, pharmaceuticals, alcohol and […]