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multi-polar world will become a reality faster than anyone had ever expected in the wake of the new tariffs announced by the US, Mahindra Group Chairman Anand Mahindra said on Thursday. In a post on social media platform X, Mahindra reposted a report of South Korea, China, and Japan, agreeing to cooperate for talks to improve free trade in the region amid concerns over US President Donald Trump's import tariffs, and wrote «the new tariffs announced by the U.S are a signpost of one major geopolitical development». He further said, «The MultiPolar World will now become a reality faster than anyone had ever expected.» The US on Wednesday announced 27 per cent reciprocal tariffs on India — saying New Delhi imposes high import duties on American goods — as the Trump administration aims to reduce the country's trade deficit and boost manufacturing.

The rationale, as given by White House Press Secretary Karoline Leavitt, was that US sanctions already prohibit «meaningful trade» with these nations, so further tariffs were not needed, according to Axios. But although this argument may make sense, the US continues to trade more with Russia than with nations such as Mauritius or Brunei, which did find themselves on Trump's tariff list, reported Axios.

Mark Carney announced a limited set of counter measures against U.S. tariffs on Thursday while calling President Donald Trump's protectionist moves a tragedy for global trade. Carney said the Canadian government will copy the U.S. approach by imposing a 25% tariff on all vehicles imported from the United States that are not compliant with the U.S.-Mexico-Canada trade deal. Carney also told a press conference that the new tariffs would not apply to auto parts and would not affect vehicle content from Mexico. «Given the prospective damage to their own people, the American administration should eventually change course. But I don't want to give false hope,» Carney said, adding that it could take a long time for the United States to shift approach. Carney said Canada's previously announced tariffs would stay in place. Trump's new tariffs sent shockwaves through markets on Thursday. His 10% baseline levy on all U.S. imports, with much higher duties on some countries, encouraged investors to flee risky assets as they worried Trump was upending global trade.

dispute settlement system, say experts. US President Donald Trump on April 2 announced reciprocal tariffs ranging from 10-49 per cent on about 60 countries, including India and China. It will come into effect from April 9. International trade expert Abhijit Das said that these duties clearly violate the World Trade Organisation (WTO) rules. He said it breaches both MFN (most favoured nation) obligations and the bound rate commitments and a WTO member country has all the right to approach the WTO's dispute settlement mechanism. A government official said that the US has stated in its executive order for these tariffs that America has imposed import levies on national security grounds. The WTO appellate body, the highest platform for dispute resolution, is not functional at present.

U.S. 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. 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. Shares of the company were down more than 8% in the wake of the tariff announcements, putting them on track for their worst day since September 2020. Apple sells more than 220 million iPhones a year; its biggest markets include the United States, China and Europe.

The CEO of Tesla and close counselor to President Donald Trump had strongly supported right-wing candidate Brad Schimel, cautioning that the contest held great importance for «Western Civilization.» Schimel's possible loss by a double-digit margin has sparked scrutiny of Musk's clout within Republican ranks as he looks toward upcoming elections, including the near-term midterms. Musk, who has had an active role in developing Republican tactics, dismissed the loss in Wisconsin as the inevitable result, as mentioned in a report by Forbes. In a post on social media after the vote, he explained that he had expected the defeat, indicating that his long-term effort to shape elections is not interrupted.

National Security Council (NSC) following a high-profile leak of classified discussions on Signal, a secure messaging app. The move, first reported by Axios and confirmed by DailyMail.com, follows an embarrassing incident involving National Security Advisor Michael Waltz.

Donald Trump's close ally Elon Musk stint with the government may probably end soon. The world’s richest person’s government service hitting its legal limit in the coming weeks, meaning Musk will reportedly step down as Department of Government Efficiency (DOGE) chief by the end of May. “He’s got a big company to run … at some point he’s going to be going back,” Donald Trump told reporters on Monday. “I’d keep him as long as I could keep him,” the president added. Amid this, US Vice President JD Vance said Musk will continue to be a «friend and adviser» to the Trump administration- even after his stint at DOGE is up. ALSO READ: Real reason why Trump's 'first buddy' Elon Musk is quitting DOGE in four months

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.

Ford has launched a discount campaign in an attempt to attract more buyers and cruise through the competition, as other vehicle manufacturers hike prices in order to cover the increased tariffs on imported cars and auto parts. The initiative was rolled out on Thursday as President Donald Trump's 25 per cent tariffs on imported cars and auto parts came into force.

global trade war. The 10-year Treasury yield fell by 11 points to 4.085 per cent. This is the lowest level in six months while the two-year yield dropped by 9.5 basis points to 3.809 per cent. The broader bond market, as per reports, echoed this trend, with the 30-year Treasury yield slipped to 4.44 per cent. The 1-year Treasury yield declined to 3.957 per cent. The fall in yields is an indicator of the shift in investor sentiment towards safer assets amid looming economic uncertainty.

FIFA president Gianni Infantino on Thursday said the US was the sole bidder for the 2031 Women's World Cup, while the 2035 tournament will be hosted by the UK. The announcement by Infantino was made during the 49th UEFA Congress in Belgrade, Serbia, The Athletic reported.

Donald Trump on Thursday said that the US economy would emerge «far stronger» even as markets went down globally after the reciprocal tariffs. Taking to social media platform Truth, Trump said, «The operation is over! The patient lived and is healing. The prognosis is that the patient will be far stronger, bigger, better and more resilient than ever before.» White House Press Secretary Karoline Leavitt also reassured US markets. «To anyone on Wall Street this morning, I would say, 'Trust in President Trump.' This is a president who is doubling down on his proven economic formula,» she said while speaking with CNN. She said the tariffs, which include 10 percent across the board levies on imports and steeper barriers on several countries including India, meant «the United States is no longer going to be cheated by foreign nations.»

Subscribe to enjoy similar stories. Mumbai: Indian equities, bonds and currency showed some resilience even as US president Donald Trump’s reciprocal tariffs sent global markets into a tailspin. Trump fired up global trade tensions by announcing a baseline 10% tariff on all imports starting 5 April, with additional reciprocal tariffs on specific countries from 9 April.

Subscribe to enjoy similar stories. For opponents of free trade, Donald Trump’s ‘Liberation Day’ may seem like ‘vindication day.’ The world’s top power, the US, which generates a quarter of the globe’s output, took an inward turn that ‘nuked’ the aim of open borders for commerce. Globalization, which had long wobbled along, suddenly looks skeletal.

Donald Trump’s sweeping new tariffs, the White House said on Wednesday. The exemption will come as a relief to the U.S. oil industry, which had expressed concerns that new levies could disrupt flows and raise costs on everything from Canadian crude oil serving Midwest refineries to European cargoes of gasoline and diesel to the eastern seaboard, as per a report. Trump on Wednesday announced he would impose a 10 per cent baseline tariff on all imports to the United States and higher duties on dozens of the country's biggest trading partners, deepening a trade war that he kicked off on his return to the White House, Reuters reported. The trade protections, however, do not apply to energy imports from Canada or Mexico – which are already exempted under the United States-Mexico-Canada Agreement free trade deal – nor do they apply to energy imports from any other country, a White House official said, as per the report. Canada and Mexico are the two largest sources of imported crude oil to the United States, while Europe is a significant source of imported fuel to the U.S. East Coast, which has a dearth of oil refineries, Reuters reported.

Donald Trump's most recent wave of tariffs is all set to rattle the economy. His trade war has just gotten personal for one of his closest allies. With new tariffs going into effect on "Liberation Day," Amazon founder Jeff Bezos might be among the most affected, and his retail empire could face a heavy financial blow. As economists warn about rising costs and economic downturns, the Amazon founder faces significant challenges.

Subscribe to enjoy similar stories. Leading the Office of Management and Budget (OMB) may sound mundane, but the role is one of Washington’s most important. Russell Vought, who did the job for the final two years of Donald Trump’s first term, is poised to return.

Ramesh Damani, Member, BSE, says like Lyndon Johnson on Vietnam, Donald Trump will just declare victory in the next couple of weeks and then change all the policies that he has introduced, saying that, oh, my policies have been achieved, everyone has come to the negotiating table, everyone is scared of America. He will declare victory because he will never admit loss. He will declare victory and the rest of the world will move back to the regime we were in. How should the world look at the tariff announcements by the US administration? Old school economists are saying that this is against the classic economic theory. This means inflation comes back, de-globalisation starts, and that is going to lead to serious contraction in the US economy. Ramesh Damani: There is a movie out now called The Emergency, and I remember that as a young student in 1975, the then Prime Minister Mrs Indira Gandhi imposed the emergency.

BMW and Mercedes-Benz in India on Thursday called for more free trade based on low tariffs and reduced trade barriers, saying it will be a win-win situation for all. As part of reciprocal tariffs on about 60 countries to counter higher duties on American products imposed globally, the US on Wednesday announced 27 per cent reciprocal tariffs on India saying New Delhi imposes high import duties on American goods. However, autos and auto parts as well as steel and aluminium articles, already subject to Section 232 tariffs at 25 per cent, announced earlier in US President Donald Trump's order on March 26, 2025, are not covered in the latest order. «We always subscribe and we always propose that there should be more free trade agreements with the countries. Absolutely, that's the right way to go, because that way everybody wins, new technologies can come into the country. For example, India can access markets. So that's a win-win situation,» BMW Group India President & CEO Vikram Pawah told PTI.