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Hans India
13 minutes ago
- Hans India
Trump Signals Upcoming Tariffs on Pharmaceuticals and Semiconductors Within Days
Trump President Donald Trump said that US Pharma tariffs and semiconductor imports will to be revealed "within the next week or so," as the administration is preparing to target the most important industries in its efforts to restructure the world trade policy. "We'll be putting a initially small tariff on pharmaceuticals, but in one year -- one and a half years, maximum -- it's going to go to 150% and then it's going to go to 250% because we want pharmaceuticals made in our country," Trump stated Tuesday in an interview with CNBC. He didn't specify the tariff rate that would be in place for pharmaceuticals. Trump stated earlier this month that the phased tariff escalation to 250% Trump has also announced that he will to declare semiconductor tariffs and chips within the "next week or so," but he did not provide additional details. The United States has been conducting an assessment of national security concerns in the pharmaceutical industry and the industry is preparing for potential specific tariffs for the sector. The administration has not yet announced when the findings of that review will be released. A framework agreement between United States and the EU stipulates that the tariffs on semiconductors and pharmaceuticals are currently at zero. However, in the event that they are raised by the United States raises tariffs following a Section 232 investigation into its imports the tariffs will be capped at 15 percent. Trump disclosed the timeline of tariffs just days after signing an executive order that imposed the new U.S. duties on a variety of imports from countries as well as some trading partners facing significant hikes. Taiwanese items are scheduled to see an update on tariffs of 20% beginning this week. However, this is lower than the 32% rate Trump was previously threatening in his 2 April "liberation day" levies. Trump's comments during a discussion on CNBC early Tuesday highlighted the fact that his tariff plan is not yet complete. In the same interview that the tariffs on domestic manufacturing boost could eventually rise to 250 percent. He previously stated that the tariffs could reach 200%..
Hindustan Times
13 minutes ago
- Hindustan Times
India's economic resilience guards against tariff threats
The impact of the US's 25% tariff on imports from India appears to be far less catastrophic than what some had predicted. Meanwhile, the trade deal with the US remains in negotiation, and there is every reason to expect that once talks advance, the tariff rate could be scaled down. Estimates suggest that the 25% tariff might translate into an annual impact of just $10-11 billion — a relatively modest impact. While the India-UK FTA negotiations were multifaceted, the agreement was not solely about lowering tariffs or increasing trade volumes; it was also about redefining economic diplomacy in a multipolar world. (Bloomberg) With the American delegation scheduled to visit New Delhi later in August, both sides have ample opportunity to recalibrate their positions. Trade deals are shaped not by threats but by diligent negotiations between officials representing institutional interests of their respective countries. In that light, US President Donald Trump's statements seem part of a broader tactic aimed at bolstering America's bargaining position rather than signalling an irreversible shift in economic policy. Therefore, there is no need to panic. India's growth story is one of rising momentum, driven by deep structural shifts and smart strategic positioning. Over the past year, India has defied global headwinds that have hindered many advanced economies. While high inflation, tightening monetary policies and geopolitical uncertainty have strained markets elsewhere, India has maintained an impressive growth trajectory. India's ability to sustain high growth is anchored in robust domestic demand, strong public capital expenditure, and the sustained expansion of its booming services sector. At the same time, there has been a deliberate policy recalibration toward achieving self-reliance, integrating global supply chains and boosting manufacturing competitiveness. Initiatives like the Production Linked Incentive (PLI) schemes across sectors such as electronics, semiconductors and renewable energy have attracted substantial foreign direct investment. Moreover, the nation's digital revolution has firmly established India as a leader in the digital economy across the Global South. In this context, the recently-signed India-UK free trade agreement (FTA) takes on added significance. While the FTA negotiations were multifaceted, the agreement was not solely about lowering tariffs or increasing trade volumes; it was also about redefining economic diplomacy in a multipolar world. For India, an ambitious FTA with the UK offers several strategic advantages. One, it sends a positive signal to global investors, affirming that India remains open for business — both strategic and reform-minded. Two, the deal provides a pathway for India to build deeper trade links with advanced economies at a time when globalisation is evolving towards regionalisation. And three, the agreement reinforces India's effort to diversify its export markets — a crucial counterbalance to the uncertainties of US trade policy and the slowing pace of growth in some of its traditional markets. The UK is currently India's 18th largest trading partner, with bilateral trade exceeding $50 billion. The FTA will serve to lower existing tariffs, ease regulatory hurdles and promote greater mobility for Indian professionals. Even contentious issues, such as agricultural trade, though politically sensitive, appear manageable. The relatively modest scale of UK agricultural exports could provide the room needed to sidestep potential disputes, easing negotiation complexities on that front. At the same time, India's impressive economic performance is underscored by several headline-grabbing trends across its major sectors. For instance, in the realm of global supply chains, India has emerged as a formidable competitor in the smartphone market. This transformation illustrates how India is successfully capitalising on new geopolitical realities and diversifying manufacturing hubs. Additionally, macroeconomic indicators have painted an encouraging picture. With retail inflation falling to a six-year low of 2.1% in June 2025, the consumer sector has found its footing amid otherwise volatile global conditions. Employment metrics reveal a healthy labour market. Exports have seen a year-on-year boost of approximately 5.9%, while remittances have reached a record $135.5 billion. The Manufacturing Purchasing Managers' Index (PMI) in July 2025 hit a 17-year high of 59.2, reflecting robust industrial activity and strong global demand. Public health initiatives, too, have contributed significantly to the overall picture. The Jan Aushadhi Kendras, which offer affordable medicine and have saved citizens ₹38,000 crore in health care costs over the last 11 years, exemplify how policy initiatives are directly alleviating household expenses and improving standards of living. Energy and infrastructure sectors are part of this rosy picture as well. India has crossed the 1-billion-tonne mark for coal production — a symbol of its energy self-reliance — while simultaneously ramping up renewable energy capacity. With 22 gigawatts of solar and wind capacity added in the first half of 2025, India is on track to overtake the US in clean energy installations. In the digital domain, India's transformation is truly remarkable, which reinforces India's position as a hub of technological innovation. Furthermore, the growth of Global Capability Centres (GCCs) in Tier-II and Tier-III cities — now numbering over 1,700 and generating $64.6 billion in revenue — demonstrates a broader socio-economic transformation. With these centres creating tens of thousands of jobs outside the traditional Tier-I urban hubs, India is leveraging lower costs, burgeoning talent pools, and improved infrastructure to reshape its economic geography. In essence, while President Trump's statements may have generated headlines, the underlying data tells a more encouraging story. India's broad-based growth, strong macroeconomic fundamentals, and strategic policy shifts point to an economy that is far more robust and resilient than any single trade dispute could jeopardise. Rather than succumbing to external pressure, India is actively repositioning itself as a major player on the global stage, capable of turning challenges into opportunities. Ultimately, the narrative is one of confidence, adaptability and strategic foresight. India's economic resilience serves as a compelling counterpoint to any external rhetoric. The picture, then, is not one of crisis but of calculated evolution — a testament to India's ongoing journey towards becoming a robust and dynamic engine of global growth. Syed Zafar Islam is a national spokesperson of the BJP, former Member of Parliament, and former managing director, Deutsche Bank, India. The views expressed are personal.
