President Financial News

Sweeping U.S. tariffs on Canadian goods went into effect today after U.S. President Donald Trump dashed hopes of a reprieve on Monday.

electric vehicles globally by 2030, José Muñoz, President & CEO of the Hyundai Motor Company (HMC) said. Munoz, who was in India to review operations at the Indian subsidiary Hyundai Motor India Limited (HMIL), said, the company is committed to make EVs more accessible and suited to needs of Indian consumers. “With HMC’s target to sell 2 million EVs by 2030 globally, India will play an important role in achieving this milestone”, Munoz said, adding, “HMC will continue to support HMIL to expand its EV offering and invest in the necessary infrastructure to support this shift.” Hyundai Motor India — which launched the Creta EV earlier in January this year targeting customers in the mainstream market — plans to launch three more EVs in the coming years. Prior to the launch of the Creta EV, the company had a sole electric vehicle Ionia 5 on sale (at the upper end of the local passenger vehicle market).

President Donald Trump's new 25% tariffs on goods from Mexico and Canada took effect, along with a doubling of duties on Chinese goods to 20%, at 12:01 a.m. EST (0501 GMT).

With unemployment at a record low 2.3%, President Vladimir Putin has flagged labour shortages as a problem and on Friday steelmaker Severstal criticised a regional move to ban migrant workers in construction. Citizens from the former Soviet Union have traditionally dominated Russia's migrant workforce.

Aaditya Thackeray on Tuesday demanded the dismissal of the Devendra Fadnavis-led government and imposition of President's rule in Maharashtra in view of the «deteriorating» law and order situation in the state. He was speaking to reporters here in the wake of the resignation of state minister and NCP leader Dhananjay Munde, days after his close aide Walmik Karad was named as the mastermind in the Beed sarpanch murder case. He said only Munde's resignation was not sufficient considering the law and order situation in the state. Deshmukh, the sarpanch of Massajog village in Beed, was abducted, tortured and murdered on December 9 last year allegedly for attempting to stop an extortion bid targeting an energy company in the district. Talking to reporters, Thackeray said, «Resignation (of Munde) is not enough. The government should be dismissed and President's rule should be imposed in the state.» The former minister also cited recent instances of crime against women like the rape of a 26-year old woman in a Maharashtra State Road Transport Corporation (MSRTC) bus in Pune and the setting ablaze of a 17-year-old girl in Mumbai. «Law and order situation in the state has been deteriorating since the last three years. If the government is not dismissed, who will come to Maharashtra for investment, how will citizens be safe?» he asked.

BJP on Tuesday slammed the Congress and other opposition parties over Maharashtra Samajwadi Party (SP) president Abu Azmi's remarks about Mughal emperor Aurangzeb and said they could stoop down to any level in their bid to «eradicate» Sanatan Dharma. The BJP's reaction came amid a row over the Maharashtra SP leader allegedly eulogising Aurangzeb in his recent remarks. He said during the Mughal emperor's reign, India's border reached Afghanistan and Burma (Myanmar), and the country was then called a golden sparrow with its GDP then accounting for 24 per cent of the world GDP. Asked about the fight between Aurangzeb and Sambhaji Maharaj, Azmi, an MLA from the Mankhurd Shivaji Nagar constituency in Mumbai, termed it a political battle. BJP national spokesperson Sudhanshu Trivedi also termed Azmi's remarks an «insult to the entire Indian society» and alleged that the opposition INDIA bloc constituents are engaged in a «cut-throat competition» with each other to prove themselves anti-Hindu for minority votes.

exports are facing mounting pressure from aggressive trade policies by partners such as the United States and the European Union, a senior trade ministry official said on Tuesday. Citing the U.S. decision to raise import tariffs and initiatives like the CHIPS Act, Santosh Sarangi, head of the Directorate General of Foreign Trade (DGFT), said it was «high time India also looked at our trade and industrial policies comprehensively». U.S. President Donald Trump's proposal to impose reciprocal tariffs from early April on trading partners including India is worrying Indian exporters in sectors ranging from autos to agriculture, with Citi Research analysts estimating potential losses at about $7 billion a year.

Subscribe to enjoy similar stories. US President Donald Trump and his vice-president, J.D. Vance, are spinning Friday’s Oval Office clash with Ukrainian President Volodymyr Zelensky as a show of American strength towards an ungrateful supplicant.

Mexico and Canada have been subject to a 25% levy on exports to the US, with the exception of Canadian oil and energy products, which the US heavily imports and will instead receive a 10% tariff.  The Trump administration has also implemented an additional 10% tariff on Chinese imports, on top of the 10% already imposed on the US' largest Asian trading partner last month.  Trump to go ahead with Mexico and Canada tariffs from 4 March Speaking at a White House press conference on Monday (3 March), the president said: «Vast amounts of fentanyl have poured into our country from Mexico...

Subscribe to enjoy similar stories. Few countries have bet as heavily on free trade as Mexico and Canada. Now that President Trump says 25% tariffs will hit both countries Tuesday, their economies are facing a stress test that rivals the global financial crisis and the pandemic.

Subscribe to enjoy similar stories. A small group of directors from an Australian company traveled to the southern tip of Greenland recently, where they have been planning to extract rare-earth minerals from one of the world’s richest deposits for more than two decades. They didn’t get as far as they had planned.

A Trade War Reignited Just after midnight on Tuesday, the U.S. implemented sweeping tariffs on imports from China, Canada, and Mexico. These new levies push U.S. tariffs to historic levels, unsettling businesses and foreign governments alike. As of 12:01 a.m., the Trump administration imposed a 25% tariff on all imports from Canada and Mexico, while increasing tariffs on Chinese goods by an additional 10%, on top of existing duties.

Sona BLW fell by up to 3% on the BSE on March 4, after U.S. President Donald Trump said on Monday, «there is no room left for Mexico or Canada,» confirming that a 25% tariff on imports will take effect from Tuesday. The shares of Sona BLW Precision Forgings fell by 2.7% to a low of Rs 472.80 in early trade, while Samvardhana Motherson International shares slipped 2.4% to their day's low of Rs 116.55.

Nifty, opened lower on Tuesday, weighed down by index heavyweight Reliance Industries and IT stocks, tracking losses in Asian markets after former U.S. President Donald Trump reiterated that his proposed tariffs would proceed as planned. The BSE Sensex was down 386 points, or 0.53%, at 72,665, while the Nifty50 fell 145 points, or 0.66%, to 21,974 around 9:20 am.

BEIJING — China «firmly rejects» additional U.S. tariffs on Chinese goods and will take countermeasures, the Ministry of Commerce said in a statement Tuesday.

WASHINGTON — The risks for higher inflation are on the rise, St. Louis Federal Reserve President Alberto Musalem said Monday.

Corporate Transparency Act, which requires millions of domestic businesses to declare their real beneficial owners. The current administration under President Donald Trump has opposed the «beneficial ownership information (BOI)» reporting requirement, which was enforced through the Corporate Transparency Act.

In a series of posts on Truth Social, Trump denounced criticism from Democrats and his former National Security Advisor, H.R. McMaster, asserting that he remains the only U.S. leader who has not ceded Ukrainian land to Russian President Vladimir Putin. Trump’s comments come in response to a growing political firestorm following his public argument with Zelenskyy on Friday.

marine fuel firm Haltbakk Bunkers has halted its fueling of US warships after a heated and public exchange between Ukrainian president Volodymyr Zelensky, US president Donald Trump, and vice president JD Vance at the White House on Friday, as per a report.

Tax Cuts and Jobs Act (TCJA), a package of tax reliefs that was voted to law by a Republican-dominated US Congress in 2017 during Donald Trump's first presidency, is set to witness the expiration of its provisions on December 31 this year. House Republicans passed a budget plan last week that lays the groundwork to extend the TCJA. If the plan fails to pass in both the Senate and House of Representatives, and no new act is brought out and approved, the provisions of the TCJA would end on December 31. The introduction of the TCJA was the largest overhaul of US tax codes in more than three decades. The only way for tax breaks under TCJA to continue is by the introduction of a relevant legislation by the Congress to expand or amend the tax cut code.