Topic
tariff
Trade Gold tariff hike boosts grey market, hurts organised trade, says WGC
India's decision to more than double gold import tariffs to 15% on May 13, 2026, has boosted the grey market and hurt organised trade, according to the World Gold Council (WGC). The tariff, combined with 3% GST, creates an 18% arbitrage that spurs illegal inflows. Net gold imports fell 23% year-on-year to 98.1 tons in the June quarter, the lowest since September 2020.
Trade Wove Launches Free Tariff Change Tool for Forwarders, Automates AI Agent Updates
Freight forwarders and customs brokers can now access a free tariff calculator from Wove that automates the tracking of Harmonized Tariff Schedule changes. Using AI agents, the platform can process hundreds of pages of tariff updates from the Federal Register in under an hour, addressing the rapid pace of trade policy shifts.
Trade Centre Tweaks Windfall Tax, Raises Petrol Export Duty: Times of India Report
The Times of India reported that the Indian government has tweaked the windfall tax and raised the petrol export duty. The source article, however, did not contain any specific details on the changes, effective dates, or product scope beyond the headline.
Trade India's GST at 9: Experts Urge Reforms to Boost Auto Industry Export Competitiveness
As India's GST completes nine years, tax experts urge targeted reforms to resolve inverted duty structures on EVs, legacy cess credits, and refund inefficiencies. These changes aim to boost export competitiveness for India's third-largest automobile market, which contributes 7% to GDP and supports 37 million jobs.
Trade US trade deal to be on day India secures tariff edge, says Piyush Goyal
India's Commerce Minister Piyush Goyal announced that the US trade deal is nearly complete and hinges on India securing a competitive tariff edge. Meanwhile, the India-UK Comprehensive Economic and Trade Agreement (CETA) will come into force on July 15.
Trade India extends anti-dumping duty on US, Malaysia, South Africa butyl alcohol for five years
India has extended its anti-dumping duty on imports of normal butanol (butyl alcohol) originating in the United States, Malaysia, and South Africa for five years, following a review by the Directorate General of Trade Remedies (DGTR) that concluded withdrawing the duty could lead to renewed dumping and material injury to domestic producers.
Trade India slaps anti-dumping duty on rubber chemical imports from China, EU and US
India has imposed an anti-dumping duty on imports of rubber chemicals from China, the European Union, and the United States, according to a report from the TOI Business Desk. The duty targets rubber chemicals, though specific rates and effective dates were not detailed in the source.
Trade India Imposes Anti-Dumping Duty on Sulphenamides Accelerators from China, EU, US
India has imposed an anti-dumping duty on imports of Sulphenamides Accelerators from China, the European Union, and the United States. The duty, ranging from $75 to $1748 per tonne, will be effective for five years as per a June 19 finance ministry notification based on a DGTR recommendation. Separately, a duty on Polyethylene Terephthalate resin from China was also noted.
Trade Trump Signals Progress on India-US Trade Agreement, Says 'Very Close to Deal' at G7 Summit
US President Donald Trump announced at the G7 Summit that India and the US are 'very close' to a bilateral trade agreement. USTR Jamieson Greer will visit India on June 23-24 for final negotiations with Commerce Minister Piyush Goyal, who says 99% of issues are settled. The interim deal is expected before July 24, when a temporary US tariff regime expires.
Trade India's Gold Tariff Hike Spurs Smuggling Surge
India's recent gold tariff hike has led to a resurgence in smuggling, with illegal imports potentially exceeding 100 tons in 2026. This has created challenges for banks and refiners, as grey market discounts disrupt legal trade.
Trade U.S. Intensifies Tariff Fraud Crackdown on Importers
The U.S. government is intensifying its efforts to combat tariff fraud, targeting importers involved in duty evasion. Recent cases highlight the use of the False Claims Act and whistleblower complaints to address misclassification and undervaluation of imports.
Trade Rupee Declines Amid Tariff Concerns, Oil Price Surge
The Indian rupee fell 40 paise to 95.76 against the US dollar due to proposed US tariffs and rising oil prices. The USTR's additional duties on imports from India and other countries have heightened market concerns.