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India.com
15 minutes ago
- India.com
Despite Trump's 25% Tariff, How India Still Beats Pakistan, Bangladesh On Trade Balance
New Delhi: Even as U.S. tariffs on Indian goods climb to 25 percent, the numbers tell a more layered story. Despite the blow, India still holds a stronger position in trade dynamics than some of its closest neighbours. In 2024, Indian products entering the American market faced an average effective tariff of 17.4 percent. That is lower than the 19.9 percent slapped on Bangladeshi goods, the 18.1 percent faced by Pakistan and Sri Lanka's 19.2 percent. These figures come from a recent analysis by Moneycontrol that measured the effective duties levied by the United States on major South Asian exporters. U.S. President Donald Trump, who reimposed tough trade penalties last month, had pointed fingers at India in a strongly worded post on July 30. 'Remember, while India is our friend, we have, over the years, done relatively little business with them because their tariffs are far too high, among the highest in the world. They have the most strenuous and obnoxious non-monetary trade barriers of any country… INDIA WILL THEREFORE BE PAYING A TARIFF OF 25%, PLUS A PENALTY FOR THE ABOVE, STARTING ON AUGUST FIRST,' he wrote on Truth Social. However, data on what economists call the tariff differential, the gap between what a country pays in U.S. tariffs versus what it charges on American imports, suggests India's trade relationship with Washington remains more balanced than many others in the region. India's tariff differential currently stands at 11.3 percentage points. That is significantly narrower than Bangladesh's 17.2-point gap or Pakistan's 13.6 points. Another regional exporter, Vietnam faces a 13-point spread. Bangladesh's position appears the most lopsided: its exports are hit by the highest U.S. tariffs, but it barely charges American goods in return. Meanwhile, India maintains an average 6.1 percent tariff on U.S. imports, more than Bangladesh but less than others, offering a cushion against the recent spike from Washington. Neighbouring Asian countries such as Thailand and the Philippines fare slightly better in terms of tariff balance, with gaps at 6.4 and 9.8 points respectively. But their trade mix is different, heavily skewed towards electronics and intermediate goods. India's exports to the United States, on the other hand, lean heavily on pharmaceuticals, garments, jewellery and consumer products. These sectors are more vulnerable to tariff hikes. While India's trade ties with Washington remain under strain, the data reflects that it may still be navigating the turbulence more stably than its regional peers.
Mint
15 minutes ago
- Mint
‘I don't want to see that play out': Vivek Ramaswamy warns against Zohran Mamdani policies
Ohio Republican gubernatorial contender Vivek Ramaswamy sounded the alarm Monday over what he called a growing 'socialist wave' within the Democratic Party, singling out New York mayoral candidate Zohran Mamdani and others as symbols of a dangerous political shift. 'It's a fork in the road for the future of the country,' Ramaswamy told Fox & Friends. 'And it's not just about one candidate in New York who represents the socialism wing. You look at the rise of [mayoral candidate Omar] Fateh in Minneapolis.' Ramaswamy, 39, who ran unsuccessfully in the 2024 GOP presidential primary and is now the clear favorite to win Ohio's Republican gubernatorial primary next year, said the leftward lurch exposes a 'deep fissure' in the Democratic Party. 'You see trends coming up across the country,' he said. 'There's a deep fissure in the Democratic Party.' Ramaswamy urged Republicans to step up with a bold counter-message in defense of capitalism. 'My advice to Republicans across the country is this is our chance to actually offer the vision to make the case for why free enterprise, why capitalism, is the best system known to the history of man,' he said. The biotech entrepreneur warned that Mamdani's potential win as mayor of New York City would have grave consequences for residents already struggling with housing and affordability. 'I do think a lot of people in New York are going to, unfortunately, wake up to the effects of socialism,' he said. 'The well-intentioned so-called solutions to a housing crisis are actually going to make that very affordable crisis worse for the people they were supposedly trying to help.' Ramaswamy has remained sharply critical of Mamdani following the New York assemblyman's surprise Democratic primary win in June, which catapulted him into frontrunner status in the city's mayoral race. 'I don't want to see that play out over the next 10 years,' Ramaswamy said, referring to Mamdani's proposed economic policies. 'I think Republicans have an important role to play.'
Time of India
15 minutes ago
- Time of India
Rod Stewart Under Fire for Unsettling A.I. Video of Late Ozzy Osbourne
Trump Breaks Silence On Sydney Sweeney's AE Ad: 'If She's Republican, I Love It...' Sydney Sweeney's American Eagle ad had already stirred debate over its 'great genes' wordplay, but now, her confirmed Republican voter registration has added a political twist. According to The Guardian, Sweeney registered GOP in Florida just months before Donald Trump returned to the White House. Reacting to the news, Trump praised the actress, saying, 'If she's Republican, her ad is fantastic.' The denim campaign had faced backlash for being tone-deaf and promoting outdated beauty ideals. This isn't Sweeney's first brush with controversy, her 2022 family party photos featuring MAGA hats sparked similar heat. She later asked fans to 'stop making assumptions' about her views. American Eagle has defended the ad, stating it was always about 'her jeans, her story.' Now, with Trump's public support, the cultural divide around Sweeney's image only deepens. 1.8K views | 14 hours ago
