Latest news with #YieldingtoAmericanTariffRetaliationAgreement
Time of India
08-07-2025
- Business
- Time of India
India-US trade deal soon? Donald Trump says so, but India needs to be wary of ‘escalating pressure'; 'in future US may...'
While Donald Trump has issued tariff letters to 14 countries, India is missing from the list. (AI image) India-US trade deal: India is likely to be among the nations expected to conclude a trade agreement with the US in the near future, as President Donald Trump intensifies efforts by sending formal tariff notifications to various countries. The United States has extended the deadline for nations to complete bilateral trade agreements from July 9 to August 1, providing a final three-week period before comprehensive country-specific tariffs take effect. The deadline extension is part of a wider trade initiative launched on April 2, when Trump identified approximately 60 countries for specific tariffs unless they entered into new agreements aligned with US trade priorities. Donald Trump's Tariff Letters The Trump administration's recent announcement details varied tariff rates: 25 per cent for Japan, South Korea, Kazakhstan, Malaysia, and Tunisia; 30 per cent for South Africa and Bosnia and Herzegovina; 32 per cent for Indonesia; 35 per cent for Bangladesh and Serbia; 36 per cent for Cambodia and Thailand; whilst Laos and Myanmar face 40 per cent tariffs. Also Read | Donald Trump releases more tariff letters: Japan, South Korea, Myanmar, Malaysia & other countries to face up to 40% duties from August 1; check details The increased tariffs are anticipated to affect trade patterns, leading to higher consumer costs in the United States whilst creating global supply chain difficulties. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 5 Books Warren Buffett Wants You to Read In 2025 Blinkist: Warren Buffett's Reading List Undo To date, only the United Kingdom and Vietnam have agreed to these terms, while a temporary agreement with China remains in effect. Donald Trump's Unpredictability: Why India Needs To Be Cautious GTRI Founder Ajay Srivastava noted that the US ultimatums, which the White House terms as 'final notices', present the 14 countries with a straightforward decision: either accept US conditions or endure substantial tariff penalties. "Trump's model isn't a free trade agreement, it's a YATRA - Yielding to American Tariff Retaliation Agreement," the Global Trade Research Initiative (GTRI) has said, warning India to 'tread carefully'. While Donald Trump has issued tariff letters to 14 countries, India is missing from the list, since the US and India hope to finalise the trade deal shortly. Also Read | Hoping for a US H-1B visa? Donald Trump administration's stringent scrutiny likely; Indians should be prepared for... "With the clock ticking, India is seen as a top candidate for a deal announcement in the coming New Delhi must tread carefully," he said according to a PTI report. A significant finding in the report emphasises that trade agreements during Trump's administration lack permanent security. Countries remain susceptible to additional tariff impositions even after finalising trade arrangements. A recent example illustrates this when Trump declared a 10% tariff proposal targeting BRICS countries, India included, alleging their "anti-American policies." This demonstrates the arbitrary and politically-driven nature of American trade decisions under Trump's leadership. Whilst India has presented its conclusive trade proposal and anticipates finalising an agreement with the US shortly, the GTRI analysis cautioned that such an arrangement might not safeguard Indian exports from subsequent unilateral tariff increases. According to the report, Indian exports could still face a minimum 10% additional charge, despite any agreement. Also Read | 'India has drawn its red lines…': Ahead of Donald Trump's tariff deadline, officials say 'ball in US court' on trade deal; here's what's happening Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
08-07-2025
- Business
- Time of India
India nearing US trade deal as Trump's tariff clock ticks, but caution urged: GTRI
India is likely to finalize a trade deal with the US soon, but GTRI advises caution as President Trump increases pressure with tariff threats. He has issued formal tariff letters to 14 countries, setting an August 1 deadline for deals. GTRI warns that these deals could be imbalanced and disrupt global trade flows. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads India could soon finalise a bilateral trade deal with Washington as US President Donald Trump intensifies pressure on countries by issuing formal tariff notices, reported PTI, citing think tank Global Trade Research Initiative ( GTRI ) as saying, on Tuesday.'Trump's model isn't a free trade agreement, it's a YATRA — Yielding to American Tariff Retaliation Agreement,' PTI quoted GTRI statement, referring to the US President's hardline US has now pushed the deadline for finalising trade agreements from July 9 to August 1, offering countries a three-week extension before sweeping country-specific tariffs come into broader trade move began on April 2, when Trump announced that around 60 countries would face new tariffs unless they reached fresh agreements aligned with US trade the UK and Vietnam have finalised deals so far, while a temporary ceasefire is in place with China.'Now, Trump is escalating the pressure. On July 7, he signed formal letters to 14 countries, outlining the tariffs they will face from August 1 if they fail to conclude a deal,' GTRI founder Ajay Srivastava to the new list, the US will impose 25% tariffs on Japan, South Korea, Kazakhstan, Malaysia, and Tunisia; 30% on South Africa and Bosnia and Herzegovina; 32% on Indonesia; 35% on Bangladesh and Serbia; 36% on Cambodia and Thailand; and 40% on Laos and Myanmar.'These warnings, described by the White House as 'final notices', leave countries with a stark choice: accept US terms or face higher duties,' Srivastava cautioned that the tariff escalation could disrupt global trade flows, inflate consumer prices in the US, and cause supply chain imports from China reportedly dropped by 35% in May 2025 over the previous year.'With the clock ticking, India is seen as a top candidate for a deal announcement in the coming days,' Srivastava said, while warning that 'New Delhi must tread carefully.'Given the US administration's recent unilateral actions — including warnings to BRICS members — GTRI said India must assess the long-term strategic implications of any trade pact that could tilt heavily in Washington's favour.(With inputs from PTI)
