India has finally yielded to U.S. pressure, deciding to stop buying Russian oil, ending a decade-long trade agreement. Reliance Industries, owned by billionaire Mukesh Ambani, will no longer import Russian crude. The move follows threats of high U.S. tariffs affecting India’s trade relations. The U-turn means Reliance will now source expensive oil from the Middle […]
U.S. tariffs
India bows to U.S. pressure, agrees to cut Russian oil imports
India has shown readiness to reduce its oil imports from Russia after facing growing pressure and economic threats from the United States. This move follows President Donald Trump’s recent warning and imposition of additional tariffs on Indian goods, raising total U.S. tariffs on Indian exports to 50%. According to a Reuters report, Indian officials discreetly […]
U.S. cuts tariffs on Pakistan, but costs still high
The United States has reduced its tariff rate on Pakistani goods to 19%, slightly lower than rates on regional competitors. India, Bangladesh, Vietnam, and Sri Lanka face U.S. tariffs ranging from 20% to 25%. This move gives Pakistan a potential edge in the American market. Experts say the decision reflects improved diplomatic efforts. However, they […]
EU trade chief travels to Washington to stop new U.S. tariffs
EU Trade Commissioner Maros Sefcovic flew to Washington on Wednesday to try to resolve tariff disputes with the U.S. He will meet with U.S. Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer to discuss the issue. The talks come as U.S. President Donald Trump has threatened to impose a 30% tariff on imports from […]
Trump’s tariffs put 100,000 South African jobs at risk
U.S. tariffs on South African goods could cost the country up to 100,000 jobs, warned central bank governor Lesetja Kganyago. He said the 30% tariff, set to begin on August 1, will hit hard. The agriculture and automotive sectors are expected to suffer the most. These industries support thousands of workers, especially in rural and […]
China responds to U.S. tariffs: ‘Stop the threats’
China has urged the United States to “stop threatening and blackmailing” in the ongoing trade war. This statement follows remarks from President Trump, who said it is up to Beijing to end the dispute. Trump has imposed high tariffs on Chinese goods, reaching up to 145 percent. In response, China has retaliated with tariffs of […]