Low-income Americans are pulling back on spending, often saying no to eating out, traveling, and even cutting back on basics like diapers, fizzy drinks, and beer, as import duties continue to push prices higher.In response, many fast-food chains are now offering cheaper, smaller meal bundles to keep demand steady.Researchers at Yale’s Budget Lab and the…
Foreign investors returned to Asian equities in July for the third month in a row, with Taiwan attracting its biggest inflow in nearly two decades and Thailand breaking a nine-month streak of outflows. The upbeat momentum was fuelled by growing interest in artificial intelligence, improved trade ties with the United States, and easing tariff concerns.Investment…
US President Donald Trump (AI image) A senior Indian diplomat on Thursday criticised the Donald Trump administration’s imposition of 50 per cent tariffs on Indian exports to the US, calling the move “unilateral” and lacking any “logic or reason”, even as he confirmed that bilateral trade negotiations between the two sides would continue.“This is a…
President Donald Trump has hit India with a 50% tariff on its exports to the US, punishing New Delhi for continuing to buy Russian crude. He accuses India of “funding Russia’s war machine” and vows more penalties if Prime Minister Narendra Modi doesn’t halt oil imports from Moscow.This follows Trump’s prior 25% tariff on Indian…
The government may prioritise targeted support for sectors such as textiles and chemicals, those expected to be severely affected by the new 50 per cent US tariffs, under its export promotion mission, industry sources said on Thursday.As per the news agency PTI, the matter was taken up during consultations held by the commerce ministry with…
Facing the Trump squeeze, India is already recalibrating its foreign relations. US President Donald Trump has imposed a 50% tariff on Indian imports, accusing India of funding Russia’s war on Ukraine through its continued oil purchases. The shock escalation, delivered via executive order, represents the steepest tariff the US has ever placed on a major…
Modi’s discussions with Lula have gained additional importance following Trump’s implementation of 50% tariffs. (File photo) Prime Minister Narendra Modi is scheduled to talk to Brazil’s President Luiz Inacio Lula da Silva on Thursday and plans to visit China in August for the first time since 2018, amid deteriorating relations with the United States.Brazilian President…
Stocks rose on Wall Street on Thursday, brushing aside fresh worries over US President Donald Trump’s latest round of tariffs that kicked in on dozens of countries. The S&P 500 gained 0.5% in early trading, hovering just below its all-time high set last month while Dow gained 200 points and Nasdaq climbed 1%. DJIA was…
New data for jobless benefits shows that the number of American citizens filing for unemployment benefits rose modestly last week, showing that employers are still retaining workers despite looming uncertainty on the US trade policy.The number of Americans filing for jobless support rose by 7,000 last week to 226,000, according to figures released by the…
US President Donald Trump imposed an additional 25% tariff on Indian imports on the top of an already existing 25% duty, pushing the total to 50%. These high tariffs, announced on August 6, would take effect from August 27.The pharmaceutical sector, however, received a temporary exemption from the tariff hike, highlighting India’s crucial role in…
