Delay applies to certain products for a short period before the 'big one' from 2 April. Decision came after what Trump described as a 'fruitful' conversation with Mexico's Sheinbaum.
Beijing has less than a week to publish countermeasures as US administration takes a harder stance on its rival, despite backing down on 60% tariff threat after Trump took office.
Use of tariffs stems from the urgency to curb rising US trade imbalance. US trade deficit in goods widened to $1.2 trillion in calendar year 2024 from $1.06 trillion in 2023.
Import tariffs are not an economic consideration for the government of India anyway, with data from Budget 2025-26 showing that customs duty isn’t a key revenue source.
He also said he will announce reciprocal tariffs on Tuesday or Wednesday, to take effect almost immediately, applying them to all countries & matching the tariff rates levied by them.
The US recently announced plans for expansive new tariffs on goods from Canada, Mexico and China, purportedly to stem the flow of illegal migrants and drugs.
After an additional 10% US tariff on Chinese exports took effect, Beijing announced it was imposing tariffs on imports of U.S. oil, coal, gas, cars and farm equipment to take effect on 10 Feb.
As Visakhapatnam readies a mega airport, the Andhra Pradesh government has revived its shelved Dagadarthi project, aiming to boost cargo and connectivity on the south coast.
Both the Russian and Ukrainian militaries are leaning on drones, but they’re also firing cruise and ballistic missiles, some of them relatively new and experimental.
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.
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