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Subscribe to enjoy similar stories. Mumbai: A spell of weakness in Asian markets spilled into Indian equities on Friday, sparking a sell-off that swept across sectors. Indian markets that averted a steep fall a day earlier plunged 1.5%, as fears of a US recession and its consequences grew.

Subscribe to enjoy similar stories. NEW DELHI : As the US recalibrates its reciprocal tariff policy following a data miscalculation, India will now face an additional 26% tariff across a range of commodities starting 9 April. This marks a slight downward revision from the 27% hike announced on 2 April after the US administration corrected its trade deficit computations.

Subscribe to enjoy similar stories. Nothing is more American than the pickup truck. One big reason why: the “chicken tax." The U.S.

trade war fears rage on. Dow Jones futures are down as much as 3%, while Nasdaq is on track to fall another 3%. This came after China pledged additional tariffs on US goods in retaliation to Trump's reciprocal levies. US stocks fell sharply on Thursday too with S&P 500 plunging nearly 5%, its largest one-day percentage decline since June 2020.

With this move, the two small islands off the Canadian coast have gone from relative obscurity to being the unexpected face of an escalating US-France trade clampdown. While larger countries like China and Mexico are often the focus of trade battles, this time it’s a quiet fishing outpost of under 6,000 people caught in the crossfire.

Subscribe to enjoy similar stories. ANAESTHETICS THAT don’t put patients to sleep. Laxatives that fail to clear bowels.

Communist Party of China (CPC) has said in a message to the CPI(M), extending wishes for the party congress underway in Madurai. According to a document shared by the Communist Party of India (Marxist), 34 Left parties from across the world have sent it messages wishing success to its 24th party congress. Besides the CPC, they include Workers' Party of Korea, Communist Party of Vietnam, Communist Party of Cuba, Communist Party of Australia, Workers' Party of Belgium, Palestinian People's Party, besides communist parties from the US, France and Germany among others. Communist Party of Bangladesh, Workers Party of Bangladesh, Communist Party of Nepal (United Socialist), Awami Workers' Party, Pakistan, Communist Party of Pakistan and Communist Party of Burma also sent messages wishing success to the CPI(M) congress. The CPC in its message said in the present international landscape, an improving China-India relationship serves the common interest of both countries and the region. «The international landscape and world order are now in a new round of transformation. An improving China-India relationship serves the common interests of both countries and the region,» CPC said.

US President Donald Trump imposed a series of sweeping tariffs on countries around the world that could drastically alter the landscape of global trade, and consumer goods like iPhones could be among the hardest hit, analysts said on Thursday, with increases of 30% to 40% if the company were to pass on the cost to consumers. Most iPhones are still made in China, which was hit with a 54% tariff. If those levies persist, Apple has a tough choice: absorb the extra expense or pass it on to customers.

Labor Party's Jerome Laxale won the Sydney seat of Bennelong from the Liberals at the 2022 election, votes from Chinese Australians angry about then-prime minister Scott Morrison's spat with Beijing were instrumental in his victory. Now Laxale and other politicians are using social media including Xiaohongshu, a Chinese lifestyle app also called RedNote, and other campaign strategies to appeal to Chinese communities who will again be a crucial bloc in the upcoming election. «If you want to communicate with your electorate, you need to go where your electorate are and some of them are on Xiaohongshu,» said Laxale, who has handed out 30,000 red envelopes with QR codes to his personal accounts on Xiaohongshu and another Chinese app, WeChat.

The rupee closed at 85.2350 against the U.S. dollar, ending stronger on the day and up 0.3% on the week, adding to a 2% gain over the last fortnight.

retaliatory measures, including steep tariffs and export controls on critical materials. The Chinese Finance Ministry has said that starting April 10, Beijing will impose additional tariffs of 34% on all US goods, adding fuel to the already fiery trade war. This comes as a direct response to Trump's recent trade actions, including reciprocal tariffs at 34% and export bans targeting Chinese firms. Meanwhile, the Commerce Ministry has said it is adding 16 US entities to its export control list, further restricting their access to Chinese markets and technologies. Additionally, 11 American firms have been placed on China’s ‘unreliable entity’ list, according to state broadcaster CCTV.

artificial intelligence infrastructure in the country, likely undermining a key goal of the administration, analysts said on Thursday. Trump and technology executives have touted lofty plans by Oracle, SoftBank and others to invest heavily in artificial intelligence since his return to the White House earlier this year. On Wednesday, Trump slapped steep duties on leading technology equipment suppliers including 34% on China, 32% on Taiwan and 25% on South Korea while imposing a 10% baseline tariff on all imports to the U.S.

The Andaman Skies is transferring its cargo of crude oil to the Sao Tome and Principe-flagged vessel Ozanno, the sources said. While many buyers have shunned Russian oil since Moscow's invasion of Ukraine in 2022, India and China have remained keen buyers. India is the biggest buyer of seaborne Russian crude, which accounted for about 35% of its crude imports in 2024. However, port authorities last week barred the more than 20-year-old Andaman Skies from entering India's port of Vadinar as its seaworthiness certificate was not issued by an Indian-approved classification agency. The Tanzania-flagged vessel, carrying about 100,000 metric tons (or some 800,000 barrels) of Varandey Russian oil sold by Lukoil from the northern port of Murmansk, is sitting off the port of Mumbai in western India, LSEG shipping data shows.

Subscribe to enjoy similar stories. On Thursday, the Office of the United States Trade Representative (USTR) published the formula by which US reciprocal tariffs are to be calculated. The New York Times also published what calculation resulted in country-wise tariffs from 9 April onwards that range in a wide band.

Subscribe to enjoy similar stories. Since President Trump announced sweeping tariffs on imported goods Wednesday, Americans have been busy “adding to cart." Cedar Roach promptly checked out on $244 of workout sets from Lululemon (a Canadian brand) and a $150 sweater from House of Sunny (a U.K. brand) while Trump’s press conference played over the radio.

Niti Aayog chief executive Amitabh Kant said, adding that the country must avoid becoming a mere imitator of Western countries or any other nation. “Doing more for less is critical and this is what startups can do. Open-source will be the way forward.We must build sovereign frontier models based on our own datasets and not have inherent biases towards the West,” he said. Speaking at Startup Mahakumbh, an event being organised by Department for Promotion of Industry and Internal Trade (DPIIT), Kant encouraged Indian startups to get into deeptech sectors such as artificial intelligence (AI), space geostational maps, drones and sunrise areas of growth such as EVs, and electronic manufacturing.

Mahesh Patil, CIO, ABSL AMC, says from an India standpoint, the impact of the reciprocal tariffs is there for a few sectors including large exporters like IT and pharma, because of the slowdown in the US. But the overall impact compared with the US trade, the impact on GDP, will not be more than 20 basis points. The reaction has also not been very big and it should probably settle down. Patil says he does not see a major downgrade to our earnings for next year, except for one or two sectors. Any dip because of this correction could be a good buying opportunity. It is easy to turn bearish in this market, but should one really turn bearish? If yes, why? If no, why not? Mahesh Patil: Clearly, the Trump tariffs that have come out are slightly worse than expectations. But if you look at it from an India standpoint, I would not be too bearish. While the tariffs have been imposed across the various countries, relatively if you look at India, tariffs are much lower than some of these other partners on the global front – be it China, Vietnam, or Bangladesh. In that sense, we will not be competitively worse off over there.

gems and jewellery industry, one of the country’s top export earners and a major source of employment, is staring at job losses after US President Donald Trump announced a 26% tariff on imports from India. The US is the sector’s largest market, and with demand expected to fall sharply, exporters fear that the move will put thousands of livelihoods at risk. In the last financial year (FY24), India exported about $33 billion worth of gems and jewellery, of which nearly $10 billion went to the US, according to official data. The new tariff would raise the current US import duty from around 6% to about 34%, making Indian products significantly more expensive for American buyers, said industry players. The Indian gems and jewellery sector is the country’s third-largest export to the US, after engineering and electronic goods. It employs millions of people, many of whom are involved in labour-intensive work such as diamond cutting, polishing, and jewellery crafting. India is also the global leader in diamond processing, handling about 90% of all cut and polished diamonds in the world.

Flying taxis will become a viable method of transportation in China in the next three to five years, according to a senior executive at Ehang, a company that makes autonomous aerial vehicles (AAVs).

BEIJING — China's reaction to new U.S. tariffs will likely focus on domestic stimulus and strengthening ties with trading partners, according to analysts based in Greater China.

Piyush Goyal stirred controversy while addressing the Startup Mahakumbh 2025 in New Delhi. His remarks on India’s startup ecosystem, specifically his rhetorical question, «Are we going to be happy being delivery boys and girls? » drew mixed reactions from the entrepreneurial community. By comparing India’s startup landscape to China’s, Goyal ignited a broader debate about the country’s technological aspirations and economic growth.