Tariff News

India’s trade numbers delivered a rare positive surprise in November. Exports jumped to their strongest November level in over a decade, while imports cooled sharply after October’s spike. The result was the biggest month-on-month correction in India’s trade deficit this year. November’s data offers much-needed relief amid global tariff pressures and slowing growth risks.

The rupee fell to a record intraday low of 90.56 against the greenback on Friday, December 12, registering a fall of 24 paise from its previous close. At close, the rupee was at 90.49, down 17 paise.

Federal Reserve Chair Jerome Powell said Wednesday that the current overshooting of the central bank's 2% inflation target is mostly the result of President Donald Trump's import tax hikes. 'It's really tariffs that are causing the most of the inflation overshoot,' Powell said after the latest Fed meeting, reiterating his expectation the tariff impact on inflation is likely to be a 'one-time price increase.' Basically, he says the impact is likely to be short-lived. Watch.

Questions about India’s ties with Russia, competition with China, and the future of New Delhi-Washington relations dominated proceedings during a hearing on the US-India relationship in the US House of Representatives on Wednesday. Members of the Republican and Democratic parties, who sit on the subcommittee of South and Central Asia, spoke about the relationship during the hearing. Representatives on both sides of the aisle acknowledged the importance of the partnership and its value to both nations, calling it the 'defining relationship of the 21st century'. Watch their real views on India condensed into 15 minutes!

India seals mega FTAs! Piyush Goyal: Oman & New Zealand pacts in final phase—expected soon! Chile deal wrapping up too. NZ Minister Todd McClay visits Delhi Dec 12 for last-mile talks. After 5 rounds (2023-2025), Oman CEPA covers text & market access. Boosts exports in agri, pharma, IT amid $10.5B bilateral trade. India eyes EU, US, Australia, GCC, Korea, Peru, Maldives next. Game-changer for global value chains & Make in India!

U.S. President Donald Trump hails the impact of his tariff regime, saying that their effectiveness has made even Europe consider imposing tariffs. This after French President Emmanuel Macron has revealed that he warned Chinese leaders of potential tariffs during his recent state visit, pressing Beijing to address the EU’s sharply expanding trade deficit with China. In an interview with Les Echos published Sunday, Macron said he conveyed a blunt message: China’s swelling trade surplus was ‘unsustainable’ and was effectively weakening its own markets by sharply reducing imports from Europe. He said he told Chinese officials that, without corrective action from Beijing, the EU may have to adopt tougher steps in the coming months, including tariff measures similar to those implemented by the United States. Watch.