Trade Financial News

Subscribe to enjoy similar stories. Leaders from Canada, Europe and China are threatening stiff countermeasures against the U.S. in response to President Trump’s surprisingly steep tariffs on nearly all imports.

Subscribe to enjoy similar stories. While brains are wracked over the global impact of US tariffs, what has left many particularly zapped is the inclusion of a group of remote islands in its target list. Heard and McDonald Islands near Antarctica is listed as a place whose goods shipped to the US will now attract a 10% import levy.

Subscribe to enjoy similar stories. WASHINGTON—In the final run-up to President Trump’s “Liberation Day" tariff announcement, aides were left with a difficult task. They were struggling to square the president’s seemingly contradictory goals for sweeping new duties.

Subscribe to enjoy similar stories. MUMBAI : Indian equities outperformed their Asian peers on Thursday, the day US President Donald Trump announced sweeping new tariffs that threaten to destabilize the world trade order. However, Siddhartha Bhaiya, managing director and chief investment officer of Aequitas Investment Consultancy, thinks a one-day reaction barely scratches the surface of the move’s impact.

Taiwan Semiconductor Manufacturing Co (TSMC) have reached a preliminary agreement to form a joint venture to operate Intel's chipmaking facilities, tech news outlet The Information reported on Thursday. The Trump administration reportedly initiated the talks between the two semiconductor giants in an effort to revitalize Intel, which has struggled with manufacturing setbacks in recent years. TSMC was set to take a 20% stake in the new company, The Information said.

So, shares of textile makers stood out Thursday, surging as much as 18%, as the 26% tariffs were on home furnishings and readymade garments from India paled in comparison with 54% levies on China, 46% for Vietnam, 37% for Bangladesh, and 30% for Pakistan.

The S&P 500 ended down almost 5% after U.S. President Donald Trump's sweeping tariffs ignited fears of an all-out trade war and a global economic recession.

Shares in Australia and Japan fell at the open. US equity-index futures were steady as trading kicked off in Asia after the S&P 500 declined 4.9% on Thursday and the Nasdaq 100 slumped 5.5%, the biggest drop since 2020 for each. The slump wiped out around $2.5 trillion from the US stock market. Oil sold off and the greenback extended its drop on Friday as yields on the 10-year US Treasury hovered around the 4% mark. Markets are closed in China and Hong Kong.

Canada Prime Minister Mark Carmey said that the country will impose a 25 per cent tariff on all US vehicle imports that do not comply with the free trade agreement. The Canadian PM further said that the revenue generated from these tariffs would be directed toward supporting the country's auto workers and the industry. Sharing a post on X on Thursday (local time), Carney said, «In response to President Trump's tariffs on our auto sector, Canada will impose a 25% tariff on all US vehicle imports that do not comply with our free trade agreement. All revenues from these tariffs will be used to support our Canadian auto workers and their industry.» «For US vehicles that comply with The Canada-United States-Mexico Agreement (CUSMA), Canada will also impose a 25% tariff on the content which is not from either Canada or Mexico. The revenue from those tariffs will also go directly to supporting Canada's auto workers and their industry,» the post added.

Trump's expansive new tariffs reverse a decades-long global trend of lower trade barriers and are likely, economists say, to raise prices for Americans by thousands of dollars each year while sharply slowing the U.S. economy. The White House is gambling that other countries will also suffer enough pain that they will open up their economies to more American exports, leading to negotiations that would reduce the tariffs imposed Wednesday. Or, the White House hopes, companies will reverse their moves toward global supply chains and bring more production to the United States to avoid higher import taxes. How will Americans react? But a key question for the Trump administration will be how Americans react to the tariffs. If prices rise noticeably and jobs are lost, voters could turn against the duties and make it harder to keep them in place for the time needed to encourage companies to return to the U.S. The Yale Budget Lab estimates the Trump administration's tariffs would cost the average household $3,800 in higher prices this year. That includes the 10% universal tariff plus much higher tariffs on about 60 countries announced Wednesday, as well as previous import taxes on steel, aluminum and cars. Inflation could top 4% this year, from 2.8% currently, while the economy may barely grow, according to estimates by Nationwide Financial.

dollar index weakened to a six-month low of 101.5. The local unit opened weaker at 85.77, but gained during the day to end stronger, traders said. “The safe haven status of the dollar seems to be diminishing due to concerns about how trade policy may impact growth in the US,” a trader in a private bank said. The weakness helped strengthen the rupee, he said.

Auto and IT shares were the laggards, while power, pharma and consumption stocks remained steady.

Information Technology stocks slumped by as much as 10% on Thursday amid renewed inflation concerns in the US, following President Donald Trump's announcement of long-anticipated reciprocal tariffs. The Nifty IT index tumbled 4.2% — the biggest loser among sector indices. Shares of Persistent Systems plunged 10%, while Coforge dropped nearly 8%. TCS, Infosys, Wipro, Mphasis, LTIMindtree, and HCL Technologies declined between 3% and 4%.

The S&P 500 was down 4.2% in afternoon trading, more than other major stock markets, and at its bottom in the morning was on track for its worst day since Covid struck in 2020. The Dow Jones Industrial Average was down 1,394 points, or 3.3%, as of 2:09 p.m. Eastern time, and the Nasdaq composite was 5.3% lower.

Subscribe to enjoy similar stories. India’s stock markets have managed to stabilise from lower levels as the scare created by US President Donald Trump’s reciprocal tariffs seemed to be receding. A stock-specific action continued to dominate the proceedings as Indian markets attempted to decode the impact created by the global cues.

Subscribe to enjoy similar stories. The Indian stock market witnessed a volatile session on Thursday, as investors remained cautious amid global economic uncertainties and tariff decisions from the US. Why it’s recommended: The stock has given a triangle pattern breakout on the hourly chart, with bullish momentum supported by RSI above 60 on the daily chart.

Subscribe to enjoy similar stories. New Delhi: US President Donald Trump’s tariff thunderbolt sent shockwaves across world capitals on Thursday, turning the clock back on globalization and raising fears of a tariff war.

World Trade Organization (WTO) said Thursday.

U.S. President Donald Trump’s sweeping reciprocal tariff plan comes with a “fallback” for free trade partners Canada and Mexico if a national emergency declaration on border controls and fentanyl used in February to justify 25 per cent tariffs on them doesn’t hold up. 

Canada and Mexico might have got off (relatively) easy on Donald Trump’s Liberation Day, but for the rest of the world the tariff blow was far worse than expected — and market reaction suggests the biggest loser could be the United States.

United States President Donald Trump Wednesday imposed reciprocal global tariffs on the trading partners that sent shock waves around the world and markets plunging.