US President Donald Trump imposed a number of tariffs under the International Emergency Economic Powers Act of 1977, a law that had never been used for such action previously.
US had imposed penalty tariff on India at the end of August 2025, citing purchase of Russian oil. Trump, Modi announced reduction of reciprocal tariffs earlier Monday.
India’s merchandise exports to US remain positive, despite 50% tariffs, while imports from US grew by 12.85% in the first three quarters of the financial year.
UK, EFTA already in the bag and EU on the way, many members of RCEP except China signed up, and even restrictions on China being lifted, India has changed its mind on trade.
Two sides have held multiple rounds of negotiation to arrive at a balanced & mutually beneficial trade agreement & a deal was close on several occasions, asserts MEA.
India, Howard Lutnick says, was uncomfortable with a Modi-Trump call & that let a negotiated deal fall through & when Delhi was ready for a deal, Washington wanted different terms.
IAF is firming up plans to revamp airlift capabilities with medium transport aircraft that will be assembled in India & serve as its main workhorse. Embraer is leading contender as of now.
This is the game every nation is now learning to play. Some are finding new allies or seeing value among nations where they’d seen marginal interest. The starkest example is India & Europe.
A flawed GST, consisting of multiple tax slabs, should not have been implemented in the first place. Taking eight years to bring some reforms into the GST speaks volumes of the political incompetence plaguing our country and the fear of losing tax money to fund vote-catching-socialist schemes. I hope Trump increases tariff to 100% so that shameless socialist Modi reforms our economy including land, labour, and capital.
A flawed GST, consisting of multiple tax slabs, should not have been implemented in the first place. Taking eight years to bring some reforms into the GST speaks volumes of the political incompetence plaguing our country and the fear of losing tax money to fund vote-catching-socialist schemes. I hope Trump increases tariff to 100% so that shameless socialist Modi reforms our economy including land, labour, and capital.