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Donald Trump on Wednesday described Prime Minister Narendra Modi as a «great friend» while announcing a 26% tariff on Indian imports. However, he said, «You're a friend of mine, but you're not treating us right.» Trump claimed that the move was a «discounted reciprocal tariff» aimed at countering India's high duties on American goods. Also Read: India to face 'discounted' 26% tariff from US; Trump slaps 34% on China «India, very, very tough. Very, very tough. The Prime Minister just left. He's a great friend of mine, but I said, 'You're a friend of mine, but you're not treating us right.' They charge us 52 per cent. You have to understand, we charge them almost nothing, for years and years and decades,» Trump said, holding a chart listing countries and their tariff rates. He argued that the US had long tolerated unfavourable trade terms and had only started imposing tariffs on China after he took office seven years ago. «It was only seven years ago, when I came in, we started with China and we took in hundreds of billions of dollars from China in tariffs,» he said. The announcement comes just weeks after Modi’s visit to Washington, D.C., in February, less than a month after Trump began his second term in the White House. Trade tensions between the two countries have been a longstanding issue, with Trump previously calling India the «tariff king» and a «big abuser» in global trade.

Donald Trump exempted pharmaceuticals, one of New Delhi's key export items to the US, from the new reciprocal tariffs rule on Thursday. «Some goods will not be subject to the Reciprocal Tariff. These include: (1) articles subject to 50 USC 1702(b); (2) steel/aluminum articles and autos/auto parts already subject to Section 232 tariffs; (3) copper, pharmaceuticals, semiconductors, and lumber articles; (4) all articles that may become subject to future Section 232 tariffs; (5) bullion; and (6) energy and other certain minerals that are not available in the United States,» the White House said in a factsheet. The US market accounts for 30% of overall exports for India’s pharma sector.

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.

Bitcoin and other major cryptocurrencies dipped after President Donald Trump imposed tariffs on US trading partners worldwide, triggering a slump in risk assets. The largest digital asset fell as much as 4% to about $82,000 on Thursday morning in Singapore before paring losses, while other tokens including Ether and XRP also declined. Solana had at one point shed more than 9% of its value.

Donald Trump’s sweeping new tariffs have landed, triggering measured responses from key trading partners who seem unwilling to ignite a full-blown trade war—at least for now. Branded as “reciprocal tariffs” and ranging from 10% to 49%, the new import taxes, according to Trump, are simply the U.S. giving back what it has endured for decades. “Taxpayers have been ripped off for more than 50 years,” he declared, vowing that “it is not going to happen anymore.” Promising a resurgence of jobs and factories, Trump framed the move as more than just economics—he called it a national security necessity that threatens “our very way of life.” Here are the first reactions: China Beijing said it «firmly opposes» the new tariffs on its exports, and vowed «countermeasures to safeguard its own rights and interests».

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 is what some governments said about what they would — and would not — do in response. Read More:Trump's 26% tariffs put pressure on India. Is New Delhi ready for the impact? CHINA China's commerce ministry said Beijing «firmly opposes» the reciprocal tariffs and «will take countermeasures to safeguard its own rights and interests,» after Trump imposed a 34% reciprocal tariff on the country. JAPAN

Subscribe to enjoy similar stories. MUMBAI : India’s insurtech startups are no longer content with the domestic market. Facing intensifying competition at home and comparatively smaller transaction sizes, these firms are aggressively expanding into West Asia, Southeast Asia, and Europe—regions where insurers are ramping up digital adoption and willing to pay more for advanced tech solutions.

Subscribe to enjoy similar stories. As the world braces for the impact of US tariffs, it’s a relief that India’s economy appears to be doing well. Survey findings released on Wednesday show the manufacturing purchasing manager’s index having scaled a nine-month high of 58.1 in March.

Subscribe to enjoy similar stories. President Trump’s biggest tariff blitz yet sends a clear message to U.S. and foreign companies alike: The era of globalization is over.

safe-haven assets after U.S. President Donald Trump announced more aggressive-than-anticipated tariffs against major trading partners, widening the global trade war.

reciprocal tariffs on trading partners, stoking concerns that a global trade war may dampen demand for crude. Brent futures fell $1.97, or 2.63%, to $72.98 a barrel by 0033 GMT. U.S. West Texas Intermediate crude futures were down $1.98, or 2.76%, to $69.73.

Mansoor Khan directorial, which hit the theatres in 2000, featured Khan and Rai as siblings and was an unofficial adaptation of the 1961 American musical ‘West Side Story.’ The movie went on to become a modest success at the box-office, and Shah Rukh received critical acclaim for his performance as Max Dias, a delinquent youth who leads a gang. In an interview with PTI, Mansoor Khan revealed that his cousin, superstar Aamir Khan, was initially supposed to be a part of the movie, but he backed out when his wish to step into the shoes of Max was declined. Mansoor revealed that Aamir was offered to play the role of Aishwarya’s love interest, Rahul, which he turned down.

Trump said he would impose a 10% baseline tariff on all imports to the United States and higher duties on some of the country's biggest trading partners. The tariffs will take effect on April 9 and appeared to target about 60 countries.

global trade it pioneered and furthered over several decades. Trump says the levies will bring jobs back to the United States — but executives in the immediate aftermath were focused on possibly raising prices, reducing shipments to the world's largest economy, or just cutting back investment activity outright. «This is how you sabotage the world's economic engine while claiming to supercharge it,» said Nigel Green, CEO of global financial advisory deVere Group. «The reality is stark: these tariffs will push prices higher on thousands of everyday goods — from phones to food — and that will fuel inflation at a time when it is already uncomfortably persistent.» Trump sees tariffs as a way of protecting the domestic economy from unfair global competition and a bargaining chip for better terms for the U.S.

The Trump administration imposed a 26% tariff on imports from India, which is slightly higher than the 20% levy for the European Union, the 24% for Japan and the 25% for South Korea. China was hit with one the highest rates for a major US trading partner and now faces a tariff of at least 54% on many goods. The tariffs are a setback for the Indian government, which had sought to ward off the new levies by rolling out sweeping concessions on issues central to Trump’s agenda. During a visit to Washington by Prime Minister Narendra Modi in February, the two nations agreed to work toward a trade pact this year. ALSO READ: India to face 'discounted' 26% tariff from US; Trump slaps 34% on China “India, very, very tough. Very, very tough,” Trump said at a news event at the White House on Wednesday to announce the tariffs. “The prime minister just left, and he’s a great friend of mine. But I said, you’re a friend of mine, but you’re not treating us right. They charge us 52%.”

In comments outside the White House, Trump singled out Australian beef, which saw a surge in exports to the United States last year, reaching A$4 billion amid a slump in U.S. beef production. «They won't take any of our beef. They don't want it because they don't want it to affect their farmers and you know, I don't blame them but we're doing the same thing right now,» Trump said in an event in the White House Rose Garden announcing tariffs on a wide range of U.S. trading partners. Australia banned U.S. fresh beef products in 2003 due to the detection of bovine spongiform encephalopathy, otherwise known as mad cow disease, in U.S. cattle. BSE poses a risk to human health and has never been detected in cattle in Australia. Albanese said Trump had imposed a 10% duty on all Australian goods entering the United States, equivalent to the U.S. baseline tariff on all imports, despite U.S. goods entering Australia tariff free.

OnlyFans, has partnered with a cryptocurrency foundation to submit a late-stage plan to acquire short video app TikTok from Chinese owner ByteDance, the two said on Wednesday. The intent to bid was sent this week to the White House by Zoop, billionaire Stokely's new company, and the Hbar Foundation, which manages the Hedera cryptocurrency network's treasury. While OnlyFans is known mainly for pornography, Zoop is mainstream and family-friendly, and gives back the majority of its revenue to those who post on the site, rewarding them for driving up user engagement.

STATE OF THE MARKETS GIFT Nifty (Earlier SGX Nifty) signals a gap-down start GIFT Nifty on the NSE IX traded lower by 301 points, or 1.28 per cent, at 23,129.50, signaling that Dalal Street was headed for gap-down start on Thursday.

S&P 500 futures sank over 3.5% while contracts on the Nasdaq 100 slid 4.5%. Shares in Australia, Japan and South Korea tumbled at the open Thursday. US 10-year Treasury yields slumped with the flight to havens also lifting the Japanese yen and gold, which touched a new record high.