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Time of India
an hour ago
- Time of India
Tariff timeline: Major developments in Trump's trade war
US President Donald Trump Wednesday signed an executive order imposing an additional 25% tariff on India for its imports from Russia. A look at all his announcements related to tariffs on various countries: Aug 6- U.S. President Donald Trump's tariff decisions since he took office on January 20 have shocked financial markets and sent a wave of uncertainty through the global economy. Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program Here is a timeline of the major developments: February 1 - Trump imposes 25% tariffs on Mexican and most Canadian imports and 10% on goods from China, demanding they curb the flow of fentanyl and illegal immigrants into the U.S. February 3 - Trump agrees to a 30-day pause in his tariff threat on Mexico and Canada in return for concessions on border and crime enforcement. The U.S. does not reach such a deal with China. Live Events February 10 - Trump raises tariffs on steel and aluminum to a flat 25%. March 3 - Trump says 25% tariffs on goods from Mexico and Canada will take effect from March 4 and doubles fentanyl-related tariffs on all Chinese imports to 20%. March 6 - Trump exempts goods from Canada and Mexico under a North American trade pact for a month. March 26 - Trump unveils a 25% tariff on imported cars and light trucks. April 2 - Trump announces global tariffs with a baseline of 10% across all imports and significantly higher duties on some countries. April 9 - Trump pauses for 90 days most of his country-specific tariffs that kicked in less than 24 hours earlier and caused an upheaval in financial markets. The 10% blanket duty on almost all U.S. imports stays in place. Trump says he will raise the tariff on Chinese imports to 125% from the 104% level that took effect a day earlier, pushing the extra duties on Chinese goods to 145%. May 9 - Trump and British Prime Minister Keir Starmer announce a limited bilateral trade agreement that leaves in place 10% tariffs on British exports and lowers duties on British car exports. May 12 - The U.S. and China agree to temporarily slash tariffs. Under the 90-day truce, the U.S. will cut the extra tariffs it imposed on Chinese imports to 30%, while China's duties on U.S. imports will be slashed to 10% from 125%. May 23 - Trump warns Apple it would face a 25% tariff if phones it sold in the U.S. were manufactured outside of the country. May 29 - A federal appeals court temporarily reinstates the most sweeping of Trump's tariffs, pausing an earlier lower court's ruling to consider the government's appeal. June 3 - Trump signs an executive proclamation activating a hike in the steel and aluminum tariffs to 50% from 25%. July 3 - Trump says the U.S. will place a 20% tariff on many Vietnamese exports, with trans-shipments from third countries through Vietnam facing a 40% levy. July 6 - Trump says on Truth Social that countries aligning themselves with the "Anti-American policies" of BRICS will be charged an additional 10% tariff. July 7 - Trump says on Truth Social the additional higher duties announced previously will kick in on August 1. In letters sent to 14 countries including Japan, South Korea and Serbia, he says that will include tariffs between 25% and 40%. July 10 - Trump says the U.S. will impose a 35% tariff on imports from Canada in August and plans to impose blanket tariffs of 15% or 20% on most other trading partners. July 15 - Trump says the U.S. will impose a 19% tariff on goods from Indonesia under a new agreement. July 22 - Trump strikes a trade deal with Japan that includes lowering tariffs on auto imports to 15%. July 27 - The U.S. reaches a trade agreement with the European Union, imposing a 15% import tariff on most EU goods. July 28 - Trump says most trading partners that do not negotiate separate trade deals would soon face tariffs of 15% to 20%. July 30 - Trump says the U.S. will impose a 25% tariff on goods imported from India, and places a 50% tariff on most Brazilian goods, with softer quotas for sectors such as aircraft, energy and orange juice. The U.S. reaches a deal with South Korea, reducing the planned levies to 15%. He says a 50% tariff on copper pipes and wiring would also kick in on August 1. July 31 - Trump signs an executive order imposing import tariffs ranging from 10% to 41% on 69 trading partners ahead of the trade deal deadline. He issues a separate order raising duties on Canadian goods subject to fentanyl-related tariffs to 35%, from 25% previously. He grants Mexico a 90-day reprieve from higher tariffs of 30% on many goods to allow time to negotiate a broader trade pact. August 6 - Trump imposes an additional 25% tariff on goods from India, saying the country directly or indirectly imported Russian oil.
Time of India
2 hours ago
- Time of India
McDonald's returns to sales growth with budget meals and promotions
McDonald's sales picked up in the latest quarter, suggesting that pop culture-focused collaborations and budget meals are helping to offset diners' economic anxiety. Global sales at restaurants open at least 13 months rose 3.8% in the second quarter, the company said Wednesday. That's higher than the average estimate of analysts polled by Bloomberg. International markets led the company's growth, while the US was slightly ahead of expectations as Americans spent more per trip. Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program The results ended four quarters of declining or tepid growth as the burger chain dealt with an E. coli outbreak, backlash against American brands in the Middle East and consumer unease about the economy in response to President Trump's trade disputes. The chain's second-quarter efforts to bring in customers included a meal timed to the launch of the Minecraft movie and a Squishmallows themed limited-time offer. In the US, the company launched chicken strips while trying to win over budget-sensitive diners with offerings such as its meal bundle starting at $5. The turnaround in the US is stark, with sales rising 2.5% in the second quarter after slumping in the 3 months ended late March. It also contrasts with a mixed picture across the restaurant industry. Live Events The overall second-quarter results show that McDonald's strategy is working and could lead to "sustained" same-store sales outperformance compared to the rest of the industry, Citi analyst Jon Tower said. Rivals such as Chipotle Mexican Grill and Pizza Hut are grappling with pullbacks as they struggle to convey to customers that their meals are a good deal.
India.com
2 hours ago
- India.com
Cricket Australia Considers Private Investment For Big Bash League, Maintains Commitment To Test Traditions
In a significant development aimed at revamping its domestic T20 competition, Cricket Australia (CA) has revealed that it is actively exploring private investment options for the Big Bash League (BBL). The move is part of a broader strategic plan to elevate the BBL's global stature and competitiveness, positioning it just behind the Indian Premier League (IPL) in terms of talent, investment, and reach. BBL Set for Structural Evolution According to reports, CA has engaged with global consultancy firm Boston Consulting Group (BCG) to evaluate the potential of bringing in external equity partners. BCG's recommendations include offering alternative ownership models, expanding the league, increasing player salaries, and realigning the BBL calendar to attract higher-quality international talent. CA Chief Executive Officer Todd Greenberg confirmed that while no final decision has been made, the organization is committed to examining every option to ensure the long-term growth and financial health of the competition. 'We are unashamedly aiming to make the BBL the second-best T20 league in the world,' Greenberg said. 'This review is not reactive but proactive. If investment can help us deliver more value to fans, players, and the wider cricket community, we must explore it.' Balancing Innovation with Tradition Despite this progressive shift in the T20 format, CA has strongly reiterated its commitment to preserving the traditions of Test cricket, including iconic events like the Boxing Day Test at the MCG and the New Year's Test at the SCG. Greenberg emphasized that any strategic partnership or private equity involvement in the BBL would not impact the structure, scheduling, or heritage of the longer format. 'The traditions of Test cricket are sacred. We're not looking to compromise the essence of the game while modernizing parts of it,' he added. This stance has been welcomed by traditionalists and former players who feared commercialization could erode the purity of Test cricket. A Divided Debate The idea of privatizing BBL teams has sparked mixed reactions. Proponents argue that private investment could infuse much-needed capital, professional expertise, and marketing strength, similar to what transformed the IPL into a global cricketing juggernaut. Conversely, critics caution against relinquishing control to private owners, citing risks like loss of governance, deviation from cricket's grassroots ethos, and a shift toward prioritizing profit over player and fan interest. Former Australian cricketer and commentator Simon Katich expressed cautious optimism, stating that if managed transparently, private investment could help the BBL regain its lost shine and attract top-tier players.
