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.
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.
While the deal eases the pressure for now on Mexico, prospects for Canada and China appeared dim, as Trump and his team kept up their criticism of their northern neighbour in particular.
Mexico has been preparing possible retaliatory tariffs on imports from the US, ranging from 5% to 20%, on pork, cheese, fresh produce, manufactured steel and aluminum.
MoSPI proposes to remove closed factories from IIP sample, aiming for truer picture of India’s industrial health in upcoming 2022–23 base series. Plan open to public feedback until 25 November.
Bihar is blessed with a land more fertile for revolutions than any in India. Why has it fallen so far behind then? Constant obsession with politics is at the root of its destruction.
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