Latest news with #ExecutiveOrder14266
The Print
08-07-2025
- Business
- The Print
US extends suspension of reciprocal tariffs to Aug 1; relief to Indian exporters
The Trump administration, on Monday, sent the first tranche of letters to various countries detailing the tariffs that the US will impose on products from those countries entering American markets from August 1. India, which is negotiating a trade pact with the US, was not included in the list of countries that received tariff letters from the Trump administration on Monday. New Delhi Delhi, Jul 8 (PTI) The US has extended the suspension of its April 2 reciprocal tariffs until August 1, a move which provides relief to Indian exporters and additional time for New Delhi and Washington to resolve pending issues to finalise an interim trade deal. Bangladesh, Indonesia, Japan, South Korea, Malaysia, Thailand, South Africa, Bosnia and Herzegovina, Cambodia, Kazakhstan, Lao, Serbia and Tunisia are among the countries that received letters signed by US President Donald Trump. '…based on additional information and recommendations from various senior officials, including information on the status of discussions with trading partners, that it is necessary and appropriate to extend the suspension effectuated by Executive Order 14266 until 12:01 a.m. Eastern daylight time on August 1, 2025,' the White House has said. This suspension was expiring on July 9. On April 2, the US President announced reciprocal tariffs against a number of countries, including India (26 per cent), but paused the implementation of these duties for 90 days, giving all trading partners a July 9 deadline to negotiate and reach a trade deal with Washington. Commenting on this decision, exporters said the deferment of the imposition of reciprocal tariffs from July 9 to August 1 reflects the US's willingness to engage constructively with its trading partners. 'It provides an extended window for dialogue, which can help our negotiators to sort out remaining contentious issues,' Federation of Indian Export Organisations (FIEO) Director General Ajay Sahai said. He said that the proposed tariffs, covering a dozen countries, may provide India more comparative advantage if it finalises a BTA (bilateral trade agreement) with the US , at least on goods, by the end of this month. Another exporter said that the decision will give relief to the domestic industry here as the Indian official team has got some 12-13 more working days to talk to their US counterparts on the interim trade deal. International trade expert Biswajit Dhar also said that it is a relief for India. 'I see this as a relief for us and this response has come due to India taking a strong stand on certain issues.' FIEO President and Ludhiana-based engineering exporter said though this is a small relief, 'we are keeping our fingers crossed'. Sharing similar views, Mumbai-based exporter and founder of Technocraft Industries (India) Sharad Kumar Saraf said that US President Donald Trump is 'very unpredictable'. 'The period of tariff suspension is very small. Indian exporters should explore new markets to increase exports,' Saraf said. India and the US are negotiating a bilateral trade agreement. They have set a deadline to conclude the first tranche by fall (September- October) this year. Before that, the two countries are looking to finalise an interim trade deal. According to officials, India has already made its stand clear to the US authorities on the interim trade deal and the ball is now in Washington's court. The US has been India's largest trading partner since 2021-22. In 2024-25, the bilateral trade in goods stood at USD 131.84 billion (USD 86.51 billion worth of exports, USD 45.33 billion of imports and USD 41.18 billion trade surplus). PTI RR MR This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Time of India
08-07-2025
- Business
- Time of India
Donald Trump tariffs: Relief for Indian exporters as US delays deadline; interim trade deal talks continue
AI image The United States has extended the suspension of its April 2 reciprocal tariffs until August 1, offering Indian exporters a temporary reprieve and giving negotiators more time to resolve pending issues under an interim trade deal. India, which is in advanced talks with Washington to secure a bilateral trade agreement, was notably absent from the list of countries that received tariff notification letters on Monday. The Trump administration issued these letters to over a dozen nations, including Japan, South Korea, Bangladesh, Malaysia, and South Africa, saying that new tariffs will take effect from August 1. The White House said the decision to defer implementation was taken "based on additional information and recommendations from various senior officials, including information on the status of discussions with trading partners." The earlier suspension, announced through Executive Order 14266, was to expire on July 9. India had been listed among countries targeted for reciprocal tariffs, set at 26%, in the original April 2 announcement. However, a 90-day window was provided to allow trading partners to negotiate potential resolutions. The new extension offers around three more working weeks for dialogue. Exporters in India welcomed the move. "It provides an extended window for dialogue, which can help our negotiators to sort out remaining contentious issues," said Ajay Sahai, director general of the Federation of Indian Export Organisations (FIEO), as per news agency PTI. He added that the imposition of tariffs on other countries could also offer India a comparative trade advantage if it finalises a goods-focused bilateral trade agreement by the end of July. Experts echoed similar sentiments. 'I see this as a relief for us and this response has come due to India taking a strong stand on certain issues,' said international trade expert Biswajit Dhar. Mumbai-based exporter Sharad Kumar Saraf, however, remained cautious and was quoted as saying by PTI, "The period of tariff suspension is very small. Indian exporters should explore new markets to increase exports.' He added that US President Donald Trump is "very unpredictable." India and the US aim to finalise the first tranche of their bilateral trade pact by September or October, with officials confirming that India's position on key issues has already been conveyed to Washington. "The ball is now in their court," a government official said. The US has been India's top trading partner since 2021-22. In 2024-25, bilateral trade in goods stood at $131.84 billion, including $86.51 billion in exports and $45.33 billion in imports, yielding India a surplus of $41.18 billion. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Economic Times
08-07-2025
- Business
- Economic Times
Indian exporters breathe a sigh of relief as US extends suspension of reciprocal tariffs to August 1
TIL Creatives Representational The US has extended the suspension of its April 2 reciprocal tariffs until August 1, a move which provides relief to Indian exporters and additional time for New Delhi and Washington to resolve pending issues to finalise an interim trade deal. India, which is negotiating a trade pact with the US, was not included in the list of countries that received tariff letters from the Trump administration on Monday. The Trump administration, on Monday, sent the first tranche of letters to various countries detailing the tariffs that the US will impose on products from those countries entering American markets from August 1. Bangladesh, Indonesia, Japan, South Korea, Malaysia, Thailand, South Africa, Bosnia and Herzegovina, Cambodia, Kazakhstan, Lao, Serbia and Tunisia are among the countries that received letters signed by US President Donald Trump. "...based on additional information and recommendations from various senior officials, including information on the status of discussions with trading partners, that it is necessary and appropriate to extend the suspension effectuated by Executive Order 14266 until 12:01 a.m. Eastern daylight time on August 1, 2025," the White House has said. This suspension was expiring on July April 2, the US President announced reciprocal tariffs against a number of countries, including India (26 per cent), but paused the implementation of these duties for 90 days, giving all trading partners a July 9 deadline to negotiate and reach a trade deal with on this decision, exporters said the deferment of the imposition of reciprocal tariffs from July 9 to August 1 reflects the US's willingness to engage constructively with its trading partners."It provides an extended window for dialogue, which can help our negotiators to sort out remaining contentious issues," Federation of Indian Export Organisations (FIEO) Director General Ajay Sahai said. He said that the proposed tariffs, covering a dozen countries, may provide India more comparative advantage if it finalises a BTA (bilateral trade agreement) with the US , at least on goods, by the end of this exporter said that the decision will give relief to the domestic industry here as the Indian official team has got some 12-13 more working days to talk to their US counterparts on the interim trade trade expert Biswajit Dhar also said that it is a relief for India. "I see this as a relief for us and this response has come due to India taking a strong stand on certain issues." FIEO President and Ludhiana-based engineering exporter said though this is a small relief, "we are keeping our fingers crossed".Sharing similar views, Mumbai-based exporter and founder of Technocraft Industries (India) Sharad Kumar Saraf said that US President Donald Trump is "very unpredictable"."The period of tariff suspension is very small. Indian exporters should explore new markets to increase exports," Saraf and the US are negotiating a bilateral trade agreement. They have set a deadline to conclude the first tranche by fall (September- October) this year. Before that, the two countries are looking to finalise an interim trade to officials, India has already made its stand clear to the US authorities on the interim trade deal and the ball is now in Washington's court. The US has been India's largest trading partner since 2021-22. In 2024-25, the bilateral trade in goods stood at USD 131.84 billion (USD 86.51 billion worth of exports, USD 45.33 billion of imports and USD 41.18 billion trade surplus).
Mint
08-07-2025
- Business
- Mint
US extends suspension of reciprocal tariffs to Aug 1; relief to Indian exporters
New Delhi Delhi, Jul 8 (PTI) The US has extended the suspension of its April 2 reciprocal tariffs until August 1, a move which provides relief to Indian exporters and additional time for New Delhi and Washington to resolve pending issues to finalise an interim trade deal. India, which is negotiating a trade pact with the US, was not included in the list of countries that received tariff letters from the Trump administration on Monday. The Trump administration, on Monday, sent the first tranche of letters to various countries detailing the tariffs that the US will impose on products from those countries entering American markets from August 1. Bangladesh, Indonesia, Japan, South Korea, Malaysia, Thailand, South Africa, Bosnia and Herzegovina, Cambodia, Kazakhstan, Lao, Serbia and Tunisia are among the countries that received letters signed by US President Donald Trump. "...based on additional information and recommendations from various senior officials, including information on the status of discussions with trading partners, that it is necessary and appropriate to extend the suspension effectuated by Executive Order 14266 until 12:01 a.m. Eastern daylight time on August 1, 2025," the White House has said. This suspension was expiring on July 9. On April 2, the US President announced reciprocal tariffs against a number of countries, including India (26 per cent), but paused the implementation of these duties for 90 days, giving all trading partners a July 9 deadline to negotiate and reach a trade deal with Washington. Commenting on this decision, exporters said the deferment of the imposition of reciprocal tariffs from July 9 to August 1 reflects the US's willingness to engage constructively with its trading partners. "It provides an extended window for dialogue, which can help our negotiators to sort out remaining contentious issues," Federation of Indian Export Organisations (FIEO) Director General Ajay Sahai said. He said that the proposed tariffs, covering a dozen countries, may provide India more comparative advantage if it finalises a BTA (bilateral trade agreement) with the US , at least on goods, by the end of this month. Another exporter said that the decision will give relief to the domestic industry here as the Indian official team has got some 12-13 more working days to talk to their US counterparts on the interim trade deal. International trade expert Biswajit Dhar also said that it is a relief for India. "I see this as a relief for us and this response has come due to India taking a strong stand on certain issues." FIEO President and Ludhiana-based engineering exporter said though this is a small relief, "we are keeping our fingers crossed". Sharing similar views, Mumbai-based exporter and founder of Technocraft Industries (India) Sharad Kumar Saraf said that US President Donald Trump is "very unpredictable". "The period of tariff suspension is very small. Indian exporters should explore new markets to increase exports," Saraf said. India and the US are negotiating a bilateral trade agreement. They have set a deadline to conclude the first tranche by fall (September- October) this year. Before that, the two countries are looking to finalise an interim trade deal. According to officials, India has already made its stand clear to the US authorities on the interim trade deal and the ball is now in Washington's court. The US has been India's largest trading partner since 2021-22. In 2024-25, the bilateral trade in goods stood at USD 131.84 billion (USD 86.51 billion worth of exports, USD 45.33 billion of imports and USD 41.18 billion trade surplus).
Time of India
08-07-2025
- Business
- Time of India
Indian exporters breathe a sigh of relief as US extends suspension of reciprocal tariffs to August 1
The US has extended the suspension of its April 2 reciprocal tariffs until August 1, a move which provides relief to Indian exporters and additional time for New Delhi and Washington to resolve pending issues to finalise an interim trade deal. India, which is negotiating a trade pact with the US, was not included in the list of countries that received tariff letters from the Trump administration on Monday. The Trump administration, on Monday, sent the first tranche of letters to various countries detailing the tariffs that the US will impose on products from those countries entering American markets from August 1. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Average Cost To Rent A Private Jet May Surprise You (View Prices) Private Jet I Search Ads Learn More Bangladesh, Indonesia, Japan, South Korea, Malaysia, Thailand, South Africa, Bosnia and Herzegovina, Cambodia, Kazakhstan, Lao, Serbia and Tunisia are among the countries that received letters signed by US President Donald Trump . "...based on additional information and recommendations from various senior officials, including information on the status of discussions with trading partners, that it is necessary and appropriate to extend the suspension effectuated by Executive Order 14266 until 12:01 a.m. Eastern daylight time on August 1, 2025," the White House has said. Live Events This suspension was expiring on July 9. On April 2, the US President announced reciprocal tariffs against a number of countries, including India (26 per cent), but paused the implementation of these duties for 90 days, giving all trading partners a July 9 deadline to negotiate and reach a trade deal with Washington. Commenting on this decision, exporters said the deferment of the imposition of reciprocal tariffs from July 9 to August 1 reflects the US's willingness to engage constructively with its trading partners. "It provides an extended window for dialogue, which can help our negotiators to sort out remaining contentious issues," Federation of Indian Export Organisations (FIEO) Director General Ajay Sahai said. He said that the proposed tariffs, covering a dozen countries, may provide India more comparative advantage if it finalises a BTA (bilateral trade agreement) with the US , at least on goods, by the end of this month. Another exporter said that the decision will give relief to the domestic industry here as the Indian official team has got some 12-13 more working days to talk to their US counterparts on the interim trade deal. International trade expert Biswajit Dhar also said that it is a relief for India. "I see this as a relief for us and this response has come due to India taking a strong stand on certain issues." FIEO President and Ludhiana-based engineering exporter said though this is a small relief, "we are keeping our fingers crossed". Sharing similar views, Mumbai-based exporter and founder of Technocraft Industries (India) Sharad Kumar Saraf said that US President Donald Trump is "very unpredictable". "The period of tariff suspension is very small. Indian exporters should explore new markets to increase exports," Saraf said. India and the US are negotiating a bilateral trade agreement. They have set a deadline to conclude the first tranche by fall (September- October) this year. Before that, the two countries are looking to finalise an interim trade deal. According to officials, India has already made its stand clear to the US authorities on the interim trade deal and the ball is now in Washington's court. The US has been India's largest trading partner since 2021-22. In 2024-25, the bilateral trade in goods stood at USD 131.84 billion (USD 86.51 billion worth of exports, USD 45.33 billion of imports and USD 41.18 billion trade surplus).
