Topic
Tariffs Duties
Trade Soybean Oil Competitive in 2027 as Argentina Plans Export Tax Cuts
Argentina will gradually reduce export taxes on soybean and soy byproducts from January 2027 to December 2028, improving competitiveness for major importers like India. The US Department of Agriculture (USDA) reported the plan, announced by President Javier Milei on May 21 and published in the Official Bulletin on June 3, 2026. The cuts aim to support soybean cultivation and could benefit India, which imports around 2.5 million tonnes of soybean oil from Argentina annually.
Trade India Panel to Weigh Extension of Duty Cuts on Critical Inputs, Fresh Tariffs on
An inter-ministerial panel will meet next week to consider extending import duty cuts on critical inputs that expire this month-end, alongside proposals for fresh tariffs on select electronics and relief for pharma and steel sectors. The government also granted a retrospective customs duty waiver for nuclear power imports.
Trade India Seeks Tariff Parity for Drug Exports to US
India is negotiating with the US for tariff parity on patented drug exports, challenging a 100% duty imposed in April. The tariffs could impact India's CRDMO sector, which is growing rapidly.
Trade India Grants Retrospective Customs Duty Relief on Nuclear Power Equipment Import
India's Finance Ministry issued a notification granting retrospective customs duty relief on imports of select nuclear power generation equipment. The relief covers goods imported from April 2019 to January 2026, ensuring importers face no retrospective duty claims.
Trade Democrats Push for Reinstatement of China Port Tax
Democrats in Congress are advocating for the reinstatement of a port tax on Chinese ships, which was suspended in May. The tax, amounting to $3.2 billion annually, aims to protect the U.S. shipbuilding industry.
Trade New Tariffs Trigger Early Trans-Pacific Peak Season
New tariffs and rising fuel costs have accelerated the trans-Pacific peak shipping season, with significant rate hikes reported. The U.S. Trade Representative's new tariffs on 60 countries and potential tariffs on Brazil and others are key factors.
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 US Imposes New Tariffs Over Forced Labour Concerns
The US has announced new tariffs ranging from 10% to 12.5% on imports from 60 countries due to forced labour concerns. The tariffs, not yet enforced, aim to address unfair competition for American workers.
Trade India-US Trade Deal Talks Include Proposed 12.5% Tariff
The India-US trade negotiations, described as '75 years overdue' by USIBC's Atul Keshap, include a proposed 12.5% tariff on Indian goods. Talks aim to boost bilateral trade to $500 billion.
Trade US Trade Chief Affirms Tariff Deal Amid New Proposals
US Trade Representative Jamieson Greer reaffirmed the tariff agreement with the EU amidst new proposals to impose import taxes on 60 economies. The EU-US deal includes a 15% tariff ceiling on EU exports.
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 India, US Discuss Non-Tariff Measures to Boost Trade
India and the US are negotiating non-tariff measures to strengthen bilateral trade. Discussions include customs and trade facilitation, with a focus on economic security alignment.
Trade India's Record Pulses Buffer Shields Against El Nino Impact
India's government has amassed a record pulses buffer of 43 lakh tonnes to counter potential supply disruptions from an anticipated El Nino. This strategic reserve aims to stabilize prices and ensure food security.
Trade India Monitors US Tariff Moves Amid China Concerns
India is closely monitoring the US's proposed 12.5% tariffs on 54 countries, with a particular focus on potential impacts on China. Indian exporters are concerned about maintaining their competitive edge as global buyers diversify away from China.
Trade India Allocates Rs 10k Crore to Stabilize Jet Fuel Prices
The Indian government has allocated Rs 10,000 crore to cap aviation turbine fuel prices, aiming to stabilize airfares amid volatile fuel costs. This initiative, effective for 36 months, seeks to support Indian airlines during the West Asia crisis.
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.
Trade U.S. Imposes Tariffs on 60 Nations for Forced Labor Failures
The United States has announced new tariffs up to 12.5% on 60 countries failing to curb forced labor in export goods. This move aims to protect U.S. businesses from unfair competition.
Trade India's Gold Smuggling Surges Amid 15% Import Duty Hike
India's recent increase in gold import duty to 15% has led to a surge in smuggling, with gold entering from the Middle East, Bangladesh, and Nepal. The price gap between legally and illegally imported gold is significant, prompting concerns from industry experts.
Trade US Reduces Tariffs on Agri Machines, Keeps Metal Levies
The US has announced a reduction in tariffs on agricultural machines while maintaining a 50% levy on metal imports. This decision, effective until December 31, 2027, aims to alleviate costs for American farmers and manufacturers.
Trade India-US Trade Talks Progress on Section 301 Probes
India and the US are advancing their trade deal discussions, focusing on Section 301 probes and minor issues. Talks in New Delhi aim to finalize terms for a balanced agreement.
Trade U.S. Proposes 25% Tariff on Brazil Amid Trade Tensions
The U.S. Trade Representative has proposed a 25% tariff on Brazilian goods, excluding key items, following an investigation into Brazil's trade practices. This move aims to address unfair practices and replace a previously invalidated 50% tariff.
Trade Trump Alters Tariffs to Boost US Metal Industry
President Trump has revised tariffs on copper, aluminum, and iron imports to stimulate the US manufacturing sector. The changes, effective until December 31, 2027, aim to encourage investment in the nation's industrial base.
Trade India Reconsiders Scotch Tariff in UK Trade Deal
India is reviewing tariff concessions on Scotch whisky in its trade deal with the UK due to unresolved issues over steel quotas and duties. The trade agreement, initially set for May, has been postponed indefinitely as negotiations continue.
Trade Indian Cotton Prices Drop as Import Duty Suspended
India suspends import duty on cotton from June 1 to October 31, easing domestic prices and benefiting the textile industry. The Cotton Corporation of India adjusts prices amid increased import options.
Trade India's Gold Demand Plummets 70% Amid Import Duty Hike
India's gold demand has decreased by 70% following a significant import duty increase from 6% to 15% effective May 13, 2026. The India Bullion & Jewellers Association reports a steep decline in purchases, impacting the unorganised sector heavily.
Trade India Reduces Excise Duty on Fuel Exports Effective June 1
India has reduced the special additional excise duty on fuel exports, effective June 1. The duty on petrol, diesel, and aviation turbine fuel has been lowered to enhance trade competitiveness.
Trade India Grants 5-Month Duty Relief on Cotton Imports
India has announced a five-month duty exemption on cotton imports from June 1 to October 31, 2026. This measure aims to reduce input costs for the textile industry and enhance export competitiveness.
Trade US Tariff Refunds Stalled as Trump Appeals Court Ruling
The Trump administration plans to appeal a court order allowing importers to seek refunds on invalid tariffs, potentially delaying $166 billion in repayments. US Customs and Border Protection has already processed $20.6 billion in refunds.
Trade India Waives Cotton Import Duty to Boost Textile Exports
India has announced a waiver on all customs duties for cotton imports from June 1 to October 30, 2026. This move aims to reduce input costs and boost the competitiveness of the textile sector, benefiting MSMEs and enhancing export potential.
Trade India Waives Cotton Import Duty to Boost Supplies
The Indian government has waived the import duty on cotton until October 30, 2026, to enhance supply and reduce input costs for the textile industry. This policy aims to stabilize domestic prices and support the sector amid global supply chain challenges.
Trade Telangana Advocates for Higher Crude Palm Oil Duty
Telangana has requested the Indian government to increase the import duty on crude palm oil from 16.50% to 44% to support domestic production. The state, leading in palm oil cultivation, argues that higher duties will benefit local farmers.
Trade India Waives Cotton Import Duty to Boost Textile Exports
India's Finance Ministry has waived the 11% import duty on cotton from June 1 to October 31, 2026, to support the textile industry. This move aims to stabilize input costs and enhance competitiveness in global markets.
Trade SC Cuts Duty on Exxsol Hexane to 2.5% After Ruling
The Supreme Court of India has ruled that Exxsol Hexane is a pure hydrocarbon, leading to a reduction in import duty to 2.5%. This decision impacts the classification and taxation of the product under customs regulations.
Trade India's Gold Market Reacts to Import Duty Hike
India's gold market is offering a ₹450/g discount following a significant import duty hike from 6% to 15% on May 13. The move aims to curb imports and manage forex outgo, impacting domestic pricing and demand.
Trade Port of Virginia CEO Discusses Tariffs and Unique Cranes
Sarah McCoy, CEO of the Port of Virginia, highlights the impact of tariffs and the port's investment in unique cranes. The port ranks sixth in the U.S., handling 3.24 million TEUs in 2025.