The International Monetary Fund (IMF) has warned that the full impact of U.S. tariff policies will only become evident over time, with potential consequences for inflation, monetary policy, and global growth. IMF Managing Director, Kristalina Georgieva, told reporters on Wednesday that American companies could pass higher import costs to consumers, fuelling inflation. She cautioned that…
India’s textiles, leather, jewellery and footwear sectors are warning of massive losses after U.S. tariffs of up to 50 per cent came into effect last week, severely curbing exports. The Trump administration’s move — doubling duties after India refused to halt Russian oil purchases — has left labour-heavy industries struggling to cope, according to local…
European Trade Commissioner Maroš Šefčovič warned on Tuesday that the United States might impose new tariffs on European exports, targeting up to 97per cent of exported goods. In addition to an ongoing investigation on lumber, the U.S. administration recently opened six further investigation to determine the effect of imports on national security, said Šefčovič. The…
U.S. President Donald Trump on Friday said he is considering imposing tariffs and large-scale sanctions on Russia’s banking sector over its continued bombardment of Ukraine. In a post on his Truth Social platform, Trump said the sanctions would be in place until a ceasefire deal is reached. “Based on the fact that Russia is absolutely…
The Canadian Prime Minister, Justin Trudeau said on Tuesday that Canada would impose 25-per cent tariffs on 155 billion Canadian dollars (about 107 billion U.S. dollars) worth of U.S. goods. According to Trudeau, this will happen if the United States proceeds with its proposed tariffs on Canadian products. Trudeau made the remarks after the U.S….
Chief Secretary Eric Chan said Hong Kong will file a complaint to the World Trade Organisation (WTO) on the recent U.S. tariffs imposed on the country. Chan, the China-ruled city’s number two official, told reporters on Tuesday that the U.S. had completely ignored the city’s status as a separate customs territory. “This is absolutely inconsistent…
The German Government is concerned about the possible effects of planned U.S. tariffs on steel and aluminium imports on Germany’s export-oriented economy, a spokesman for the economy ministry told journalists on Monday. The European Union (EU) and Berlin continue to work to prevent the 25 per cent tariffs, the spokesman said. This was after U.S….
U.S. President Donald Trump plans to impose tariffs of 25 per cent on steel and aluminum imports into the United States, he said on Sunday. “Any steel coming to the United States is going to have them, 25 per cent tariff,” Trump said, according to journalists travelling with the president. When questioned about tariffs on…
