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Donald Trump's reciprocal tariff announcement as autos are not covered in it, besides there are limited exports to the US, industry body SIAM said on Thursday. It is to be noted that automobiles are not covered in this order since they are already subject to Section 232 tariffs at 25 per cent, announced earlier in President Trump's order on March 26, 2025, Society of Indian Automobile Manufacturers (SIAM) Director General, Rajesh Menon said in a statement. «We don't expect any significant impact on the Indian automobile industry since there are limited exports to the US, but we will continue to monitor the situation,» he noted. 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.

Vijay Kedia thinks this will be an opportunity for a new transformation, which will pave the way for a new beginning. «A new beginning for India is unfolding. Not just economic but emotional — a renewed faith in our capacity to build, innovate, and lead,» Kedia said on social media platform X.

April 2, 2025, was declared Liberation Day by President Donald Trump—a momentous occasion where he unveiled sweeping tariffs aimed at foreign nations. In his dramatic announcement from the White House, Trump proclaimed, “April 2, 2025, will forever be remembered as the day American industry was reborn, the day America's destiny was reclaimed, and the day that we began to 'Make America Wealthy Again.’”

crypto stocks declined in premarket trading on Thursday after President Donald Trump's latest round of sweeping tariffs rattled investor confidence due to rising global trade tensions, sparking a sell-off in riskier assets. Crypto exchange Coinbase Global fell about 4%, while major bitcoin holder Strategy dropped 3%. Among miners, MARA Holdings, Riot Platforms and Bitfarms slipped about 4%, 5% and 6%, respectively. The broad losses underscore the widespread fallout of the tariffs on multiple asset classes. Bitcoin, the biggest cryptocurrency, dropped 2.3%, while ether dived 3.3%.

Subscribe to enjoy similar stories. On 2 April, President Donald Trump didn’t just shock the world with his reciprocal tariffs announcement—he also upended 200 years of trade wisdom. Most of us take free trade and global supply chains as natural and necessary, but few realize these systems stem from the Law of Comparative Advantage, proposed by British political economist David Ricardo in 1817.

Subscribe to enjoy similar stories. US President Donald Trump announced sweeping reciprocal tariffs on its trading partners on 2 April, a move aimed at reducing the country’s dependency on foreign products amid its ballooning trade deficit. Trump announced a 26% tariff on imports from India, effective 9 April.

Subscribe to enjoy similar stories. New Delhi: The reciprocal tariffs imposed by US President Donald Trump will disrupt Indian exports in key sectors like engineering and electronic goods, potentially reshaping supply chains and cutting export revenue as businesses brace for the impact.

European Council President Antonio Costa has called for a swift conclusion to trade agreements with key global partners, including India, in response to the recent tariff measures imposed by the United States. In a tweet posted on X on Thursday, Costa emphasised the urgency for Europe to deepen its trade ties beyond the U.S. to maintain global economic stability. «The trade tariffs imposed by the United States should urge Europe to reach free trade deals with other partners in the world,» Costa wrote. He expressed full support for the EU Commission in its trade negotiations with the U.S. and underscored the importance of trade in driving global prosperity. Costa's statement pointed to several crucial ongoing trade talks, noting, “Trade is a powerful engine of global prosperity. The EU will remain a staunch advocate for free and fair trade. We will engage with all our partners and continue to strengthen and expand our trade network. Now is the time to move forward with the agreements with #Mercosur, #Mexico and decisively advance in the negotiations with #India and other key partners."

Here is what some governments said about what they would — and would not — do in response. EUROPEAN UNION European Commission President Ursula von der Leyen said the EU is finalising a package of measures in response to U.S. tariffs on steel and is «now preparing for further countermeasures to protect our interests and our businesses if negotiations fail». Trump targeted the EU with a 20% reciprocal tariff. CHINA

Donald Trump's reciprocal tariffs, drinks industry bodies said on Thursday. Trump's latest round of sweeping global and country-specific tariffs was set to hit everything from the popular negroni cocktail, based on Italy's Campari liqueur, to Guinness beer, made by the world's top spirits producer Diageo. He also introduced a 25% levy on all beer imports and added beer cans to existing aluminium tariffs, hitting labels, such as Mexican-made Corona and Dutch Heineken. Many categories of drinks, such as champagne or Scotch whisky, have to be made in specific countries or regions and cannot move production.

The agency announced that it is «updating the USCIS Policy Manual to clarify that it only recognizes two biological sexes.» «President Trump promised the American people a revolution of common sense, and that includes making sure that the policy of the U.S. government agrees with simple biological reality,» Homeland Security Assistant Secretary for Public Affairs Tricia McLaughlin said in a statement.

Federal immigration enforcement officials have arrested 37 people in a raid at a roofing business in northern Washington state

Subscribe to enjoy similar stories. The global economy has seen more turbulence in recent months than in decades, driven in part by US President Donald Trump’s most potent trade weapon: tariffs. After months of speculation, Washington has finally announced its long-feared tariffs, dealing a fresh blow to India.

₹91,423 per 10 grams. As of 9.33 am, it was trading ₹600 or 0.66% higher at ₹91,328 on the MCX. The rally can be attributed to the risk off sentiment in the market following tariff announcements by US President Donald Trump's administration.

Subscribe to enjoy similar stories. The stock market was slumping after President Donald Trump made his tariff announcement. To state the obvious, it was worse than investors feared and now they need to figure out what it means for stocks over the rest of 2025.

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».

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