Trump's 10% tariff threat against Brics nations, PM Modi in Namibia: Minerals, diplomacy, strategic ties in focus
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News18
13 minutes ago
- News18
Trump: ‘Will Consider Patriot Missiles for Ukraine' Africa Summit Press Moment News18
President Volodymyr Zelensky says Ukraine has been hit by the biggest ever aerial attack from Russia, after 728 drones and 13 cruise or ballistic missiles struck cities around the country in multiple condemned the "telling attack", adding: "It comes precisely at a time when so many efforts have been made to achieve peace, to establish a ceasefire, and yet only Russia continues to rebuff them all."The overnight strike came after President Donald Trump said the US would send more weapons to Kyiv - a reversal of last week's suspension which US media said Trump had not known Tuesday, the US leader expressed growing frustration at Russian President Vladimir Putin. News18 Mobile App -
NDTV
15 minutes ago
- NDTV
Hamas Agrees To Release 10 Hostages Amid Gaza Ceasefire Talks
Hamas said on Wednesday it has agreed to release 10 hostages under ongoing efforts to reach a ceasefire in Gaza, saying ongoing talks for a truce were "tough" due to Israel's "intransigence." The Palestinian group said the ongoing ceasefire talks have several sticking points, including the flow of aid, withdrawal of Israeli forces from the Gaza Strip, and "genuine guarantees' for a permanent ceasefire." (Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
Fibre2Fashion
20 minutes ago
- Fibre2Fashion
Understanding the latest US tariff updates from a T-shirt price POV
In a significant move reshaping global trade dynamic, US President Donald Trump has announced a new wave of potential tariffs targeting 14 countries—including key textile and apparel exporters like Bangladesh, Cambodia and Indonesia, in addition to Myanmar, Tunisia, Japan, South Korea, and seven other nations. These countries have been given until August 1, 2025 (extended from the earlier July 9 deadline) to finalise new trade deals with the US or face steep increases in import duties. We consider four top textile and apparel manufacturing countries—China, India, Bangladesh and Vietnam, and in today's context analyse the average import unit price of a T-shirt into the US, based on the latest tariff rates. The 2025 average import unit price is calculated based on the United States' reported import trade values and quantities. These figures reflect CFR (Cost and Freight) terms. Table 1: Understanding the latest US Tariff from a T-shirt price POV *Subject to change with the anticipation of a trade deal announcement. (The above values are indicative cost prices based on the import trade data analysis) Following President Trump's tariff announcement on April 2, various countries responded in different ways. Some, such as China, imposed retaliatory tariffs, while others like India and Vietnam initiated discussions to explore potential trade deals and agreements. A deadline of July 9, which was recently extended to August 1, was set for these negotiations. During this period, tariffs were temporarily suspended, and a universal 10 per cent tariff was applied across all countries. China: Following the reciprocal tariffs announced by the US on April 2, 2025, a period of intense escalation ensued, with US tariffs on Chinese goods rising from an initial 34 per cent to as high as 245 per cent. Subsequently, with trade negotiations, both countries reached a temporary agreement in Geneva last month. Under this accord, the US reduced its tariffs on Chinese imports to 55 per cent, while China lowered its retaliatory tariffs to 10 per cent, marking a significant de-escalation from the previously imposed triple-digit rates by both sides. India: After being included in the US tariff list in April 2025, India has actively pursued a trade agreement. Negotiations are reportedly in the final stages, and a deal could soon be announced. In case a deal is not materialised, Indian products will attract a duty of 26 per cent in the US from August 1. Bangladesh: On July 7, Bangladesh received a formal notice from the US about the impending tariff hike. The new rate of 35 per cent (slightly down from the earlier 37 per cent, announced on April 2) is currently one of the highest among major apparel exporters. Vietnam: Despite securing a trade deal, Vietnam will face a 20 per cent tariff on its exports to the US—a reduction from the previously proposed 46 per cent, but still double the current 10 per cent rate, which is applicable equally to most countries. Observations from Table 1 While India currently has a high tariff of 26 per cent, with the positive developments of a trade deal with the US, it is poised to offer the most competitive pricing and may become even more attractive with a lower price point if a trade deal with tariff of 10 per cent or lesser is finalised. Bangladesh, despite a slight tariff reduction, faces one of the steepest duties among major exporters. Vietnam, even with a trade deal, ends up with the highest T-shirt price due to its elevated base cost and 20 per cent tariff. China could face a substantial impact on final import prices to the US, given its position as the highest-tariffed among key apparel-supplying countries. Nevertheless, it remains relatively competitive with Vietnam, largely due to its low base price, which helps offset the elevated tariff burden. Fibre2Fashion News Desk (AP)
