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Fitch Ratings. The ratings agency said the new tariffs, announced on what is labelled as “Liberation Day” by the US administration, go far beyond what it had previously expected and are already altering the global economic outlook. The tariff regime now imposes a minimum rate of 10% on all US trade partners, with significantly higher levies on 57 selected countries. As a result, the effective tariff rate (ETR) for EU imports into the US has jumped to about 20%, while the rate on Chinese goods has surged to 64%. These figures compare with Fitch’s earlier March assumptions of 15% for the EU and 35% for China. Other Asian economies have also been hit hard. Vietnam now faces a 46% tariff, Thailand 36%, Taiwan 32%, India 26%, South Korea 25%, Malaysia 24% and Japan 24%. Sector-specific exclusions—such as semiconductors, pharmaceuticals, copper and lumber—may be negotiated separately. Also Read: Recession, not Liberation Day! India, US and world GDP may slump for Trump tariff 'insanity' «We estimate the changes will raise the overall US ETR to about 25%, which would be significantly higher than the 18% we had assumed for 2025 in the March GEO and the highest rate for more than 115 years,» Fitch said.

In fact, he stated that if India negotiates wisely during bilateral trade talks with the US, it could even gain some ground. Gulati said, «If competing countries face lower tariffs than India, then India may lose in that product exports. Overall, it seems India may not lose much in agriculture. But if we negotiate smartly in BTA, we may gain.» Gulati also explained that the impact of these tariffs will not be the same for all agricultural products. The final outcome depends on various factors, including how the US sets tariffs on India and other competing countries. Under the new policy, Indian agricultural exports to the US are currently subject to a 27 per cent tariff (as per the trade document). However, what really matters is how these tariffs compare with those applied to countries that compete with India in the same product segments.

Witch Watch, in April 2025. The anime is based on the manga by Kenta Shinohara and directed by Hiroshi Ikehata. The series will be available globally and will include multiple language dubs after its initial release.

The leaders discussed ways to boost cooperation in areas like trade, investment, tourism, culture, and education, with a focus on linking India's northeastern states with Thailand. «Today, we have decided to elevate our relations to the level of a Strategic Partnership,» Modi said following his talks with Shinawatra in Bangkok on the eve of the BIMSTEC Summit. At a joint press conference after the talks, Modi stated: «In the Indo-Pacific, we both support a free, open, inclusive, and rules-based order.

import duties by the US on the global trade and not take any action in a hurry as America may itself face problems from its domestic industry, government sources said. US President Donald Trump on April 2 announced reciprocal tariffs ranging 11-49 per cent on about 60 countries, including India and China. It will come into effect from April 9. The official said there are both challenges and opportunities for India as many of its competitor countries in exports, such as China Vietnam, Bangladesh, Cambodia and Thailand, face higher duties. «As a country we need to watch the situation and need not be in a hurry. This is something new that has happened. It is unprecedented. The US industry too would be angry from this move and challenges will also be there. We need to wait, observe, and and see because we should not rush to conclusion that this is it for the future. We need to see what is there in store on their side,» one of the sources said. The duties announced by the US are aimed at cutting down its trade deficit and boost manufacturing. On the 27 per cent duty on India, they added that only 6-7 sectors like shrimp and carpet could face challenges from the steep taxes, but majority of other sectors like pharma and electronics would get opportunities to increase shipments as competitor nations would face higher duties than India.

Subscribe to enjoy similar stories. NEW DELHI : A global shake-up in the toy trade is underway, and India may have just been dealt an unexpected advantage. Washington has slapped a 26% reciprocal tariff on Indian goods, citing what it claims is an average 52% tariff on US imports into India.

Subscribe to enjoy similar stories. NEW DELHI : Bangkok-headquartered Dusit International's founding family wants to make its second India innings India count with a flurry of new hotel signings. India is one of the most important markets for Thailand, the third-generation hotelier Siradej Donavanik, vice-president of development for global hotels, told Mint on Thursday.

tariffs on India. When reached out to Lutnick regarding a query on the tariffs imposed by US President Donald Trump, he avoided the question and walked away. Trump announced new import tariffs on Wednesday (local time), outlining the rates to be imposed on countries around the world. India will face a 26 percent tariff. Calling Prime Minister Narendra Modi a «great friend,» Trump said that India charges the US 52 per cent, and «we charge them almost nothing.» ALSO READ: Govt analysing impact of 26% Trump tariff on India; it's mixed bag, not setback: Official Trump's announcement came while he addressed the Make America Wealthy Again Event.

Trump's 26 per cent tariff on Indian goods would have a limited impact on key agricultural exports like seafood and rice when compared to higher duties imposed on regional competitors, Gulati said. «We should not look at the tariff increase in absolute terms, but see relative tariff increases with our competitors,» Gulati told PTI. The former chairman of the Commission for Agricultural Costs and Prices (CACP) noted that while India faces 26 per cent tariffs, China faces 34 per cent, creating an 8 per cent differential advantage for Indian exporters. Other competitors face even steeper barriers, with Vietnam at 46 per cent, Bangladesh at 37 per cent, Thailand at 36 per cent, and Indonesia at 32 per cent, Gulati said.

As per India Cellular and Electronics Association (ICEA), India has emerged favourably placed in the first round of reciprocal tariff announcements, especially compared to key electronics export competitors like China, Vietnam, Thailand, and Indonesia following the extraordinary and relentless efforts by our negotiators and leaders. Read More:Trump's 26% tariffs put pressure on India. Is New Delhi ready for the impact?

Here's a look at some of the new tariff regime's key features, as detailed in Trump's executive order.

global trade tensions and sparking uncertainty in markets worldwide. These tariffs, designed to counter what Trump calls unfair trade practices, are expected to reshape global commerce in a significant way.

He then went on to describe how each hotel is associated with a union and they charge tourists a bomb. He then reveals how one such cab driver had demanded Rs 1,600 to travel 10 km. “It would cost me Rs 3,500 to go to and from a restaurant just 10km away. Unbelievable!” he ranted.

Subscribe to enjoy similar stories. Global hotel brands are making a beeline for India, signing a flurry of deals with local property owners to expand in one of the world's fastest growing hospitality markets.

Subscribe to enjoy similar stories. US President Donald Trump has imposed a stiff 25% tariff on imported cars, trucks and parts that go to make them. The move, ostensibly, is to revive domestic manufacturing.

Rescue workers are struggling without proper equipment. «We are digging with our bare hands. It’s not enough,» a rescuer told the BBC. «People are screaming, ‘Help me!’ but we can’t reach them in time.»

Customs officials seized exotic wildlife, including including king snakes, monitor lizards and turtles, at Biju Patnaik International Airport (BPIA) in Bhubaneshwar on Saturday. The seized wildlife were concealed in chocolate boxes and were being smuggled from Thailand capital, Bangkok. They were being taken to Chennai, Injeet Kumar Mohanty, a Customs official engaged at the airport, told PTI. The luggage of a person from Chennai was searched after officials received a tip-off. Following the search, seizures were made, he said, adding the passenger was detained and was being questioned. As many as nine California king snakes, 10 pig nose turtles and 12 Nile monitor lizards were seized, of which three lizards were dead, he said. The wildlife species have been handed over to the forest department.

BIMSTEC Secretary General Indra Mani Pandey unveiled key outcomes, including the Bangkok Vision 2030 and underlined that the grouping is set to grow stronger by partnering with other external partners such as Indian Ocean Rim Association and ASEAN. In an online conference organised by Centre for Global India Insights (CGII), a think tank focused on global affairs, Pandey underscored the growing political will and commitment of member states to strengthening BIMSTEC, enhancing its effectiveness, and ensuring time-bound implementation of decisions. The conference, titled “Bolstering BIMSTEC: Mapping the Next Steps,” was held ahead of Prime Minister Narendra Modi’s visit to Bangkok to attend BIMSTEC summit and featured eminent diplomats and experts from India, Thailand Sri Lanka, and Bangladesh. Diplomats from other BIMSTEC countries also attended the conference. Besides BIMSTEC Secretary General Pandey, Sumith Nakandala, First Secretary General, BIMSTEC Secretariat; Amb. (Retd.) Riva Ganguly Das, India’s Former High Commissioner to Bangladesh; Prof Mustafizur Rahman, Distinguished Fellow, Centre for Policy Dialogue (CPD), Dhaka; Dr. Piyanat Soikham, Director, India Studies Centre, Ubon Ratchathani University, Thailand; Prabir De, Professor, RIS; and Yash Pal Sachar, Vice-President, Ashok Leyland participated in the panel discussion. The conference was moderated by Manish Chand, CEO, Centre for Global India Insights. “Our leaders will adopt a joint declaration. They will also adopt a BIMSTEC Bangkok Vision 2030. This is for the first time that BIMSTEC will adopt its own vision document,” said Pandey.

As of now, over 1,000 people have been confirmed dead in Myanmar, with thousands injured. In Thailand, the death toll stands at 20, with dozens still trapped under collapsed buildings.

Myanmar and Thailand on Friday has claimed more than a thousand lives so far. Myanmar’s Junta said on Saturday that at least 1,002 people had been killed and 2,376 others injured. The death toll and injuries are expected to rise. In Thailand, at least eight people died in the capital, where a high-rise building under construction collapsed. The devastation caused by the Myanmar-Thailand earthquake, shown in dozens of shocking videos and photos circulating on social media, has caused concerns in India too. India has recorded 159 earthquakes of varying magnitudes from November 2024 to February 2025, with the latest being a magnitude 4.0 in Delhi on February 17, as per a PIB press release. Many people have observed that earthquakes have been occurring more frequently in recent years. While it may seem like earthquakes are becoming more frequent, actual frequency of earthquakes may not have substantially increased. The feeling that earthquakes are becoming common could be due to more earthquakes being recorded and a heightened awareness of natural disasters due to social media. However, human activities like mining, dam building, and groundwater extraction can trigger earthquakes, leading to an increase in the number of human-induced earthquakes.