Piyush Goyal to meet exporters on May 8 on India-UK trade pact
Commerce and Industry Minister Piyush Goyal is scheduled to meet with Export Promotion Councils (EPCs) on May 8 to discuss the free trade agreement with the UK. The landmark deal aims to eliminate taxes on key Indian exports like leather and clothing, while reducing tariffs on UK imports such as whisky and cars.
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India.com
4 minutes ago
- India.com
Why is Trump not imposing extra tariffs on China just like India for importing Russian oil? Is he scared? VP Vance admits...
New Delhi: US President Donald Trump imposed 25 percent tariff on India for buying Russian oil. On being asked why he isn't imposing same tariff on China for buying Russian oil, there is no straight answer. Meanwhile, US Vice President JD Vance has admitted that imposing tariffs on China is a very difficult decision. JD Vance has said that after imposing a huge tariff hike on Russian oil imports from India, US President Donald Trump is now considering similar measures against China. But he stressed that deciding to impose tariffs against China would be much more difficult and politically sensitive. Why did Trump not impose tariff on China for importing Russian oil? It is clear from the statement of Vice President JD Vance that Donald Trump is afraid of China's retaliation. In fact, when Trump imposed tariffs on China for the first time, China immediately retaliated and reduced the supply of those rare minerals to America, which are most needed by America's defense industry. The current situation is that American defense companies are struggling to make weapons, and many companies have been forced to extend the delivery date of weapons by two to three months. What did VP Vance say on the issue? That is why JD Vance has admitted that 'the relations between the two countries also affect many other issues.' That is, America is looking after its own interests and is avoiding imposing tariffs on China due to fear. Speaking on Fox News' Sunday Morning Futures, Vice President JD Vance said, 'imposing tariffs on China is being considered, but no decision has been taken yet.' Vance said, 'The President (Donald Trump) has said that he is thinking about it, but he has not taken any concrete decision. The China issue is a little more complicated because our relationship affects many other things that have nothing to do with the Russian situation.' How much oil did China purchase from Russia in July? China's imports of Russian crude oil crossed $ 10 billion in July, the highest monthly level since March. However, the figures so far in 2025 are 7.7% lower than in 2024. Vance said that the President is 'reviewing his options' and 'a decision will be taken at the right time.' At the same time, senior advisor Peter Navarro warned that such tariffs 'can also harm America.' This statement of JD Vance comes after the recent 25 percent additional tariff imposed by the US against India. Due to which the total tariff rate on Indian goods has increased to 50%. This additional duty will come into effect from August 27.
Time of India
14 minutes ago
- Time of India
Now, award-winning single malts to debut at all Tasmac outlets
Chennai: Premium Indian liquor lovers in Tamil Nadu will soon find award-winning single malts at all Tasmac outlets. Bengaluru-based Indri-Trini single malt whisky and Amrut Fusion single malt whisky, winners of global "World's Best Whisky" titles in 2023 and 2024, will be available in both elite and regular Tasmac shops in the coming months, sources said. The state govt amended its liquor procurement policy in 2023 to allow sourcing from other states, paving the way for six new liquor varieties, five beer brands, and eight wines to enter the market. Tasmac has fixed 3,500 per carton as the base price for out-of-state supplies to ensure local distilleries and breweries remain competitive. "Though high landed costs initially discouraged out-of-state brands, the untapped premium segment in Tamil Nadu proved attractive," said a source. Royal Ranthambore whisky and Jaisalmer gin from Radico Khaitan were introduced last year, followed by Pernod Ricard's 100 Pipers and Blenders Pride. The latest entrant, Tilaknagar Industries, is supplying Mansion House Ultra French brandy and Courrier Napoleon Green brandy, and may soon bring Imperial Blue whisky, procured from Pernod Ricard, to the state. You Can Also Check: Chennai AQI | Weather in Chennai | Bank Holidays in Chennai | Public Holidays in Chennai Tamil Nadu currently has 11 distilleries producing Indian-made foreign spirits (IMFS), eight breweries, and one winery, supplying 185 whisky, brandy, and vodka brands, 43 beers, and three wines. While Tasmac officially lists 551 imported liquor brands, many are rarely available at its imported liquor shops. Tasmac officials said imported liquor suppliers do not provide liquor to the corporation despite the easy licence procedure in place, as the market for premium liquor is just 0.5% of the overall sales volumes. "However, we want to make national brands that are more sought-after in other states and globally available here," said a senior official. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.
News18
14 minutes ago
- News18
Tharoor-Led Foreign Affairs Panel Reviews India-US Trade Deal Amid Trump's Tariff War
Last Updated: Officials said the planned visit of US negotiators in the last week of August is on schedule as India aims to secure the best trade deal without compromising national interests Congress MP Shashi Tharoor on Monday chaired a review meeting of the parliamentary panel on external affairs on the crucial matter of India's trade relations with the United States, with special reference to the latest developments on the Trump administration's tariffs. Senior representatives of the ministries of external affairs as well as commerce and industry briefed Tharoor on the US-India trade negotiations and tariffs. Commerce secretary Sunil Barthwal and foreign secretary Vikram Misri attended the meeting, which was attended by 22 out of the 30 committee members. Barthwal outlined the trajectory of India-US relations, noting their deep roots and longstanding history. He told the members that Indian negotiators had firmly communicated to their US counterparts that certain 'red lines" will not be crossed, specifically on fisheries, dairy, and agriculture sectors. The ministries confirmed that the planned visit of US negotiators in the last week of August is on schedule. India aims to secure the best possible trade deal without compromising national interests, while prioritising the welfare of its people. 'In today's meeting, there was a discussion on tariffs and the current situation with the United States. Fifty questions were asked. Relations with the US are important; trade is just one issue," Tharoor said about the discussion. According to sources, one member raised concerns on a statement by Pakistani Army Chief Field Marshal Asim Munir — his statement making a 'nuclear threat" against India — during his current visit to the US. The member questioned why India had not issued a stronger rebuttal, the sources said. Some members suggested that New Delhi should address the matter more firmly with Washington, they added. Misri reportedly responded by saying India had already issued a strong statement and will continue to press the point with US authorities. 'It was not appreciated that Munir made this statement while standing on the soil of our friendly country. We will inform everyone about this," Tharoor said. The sources said another member asked why India has been singled out by the Trump administration, which has imposed significantly lower tariffs on Vietnam, Bangladesh, and Pakistan. Officials informed that it would be better to wait for the final outcome of the trade talks before drawing conclusions. Concerns were also raised about the negative impact of higher US tariffs on India's economy. Officials noted Washington's unease over BRICS and its potential impact on the US dollar, as well as India's ongoing purchase of Russian oil. Responding to a query on if the US was displeased because India had not finalised a defence equipment purchase, officials said the deal had neither been rejected nor cancelled but was delayed due to technical issues. Members also asked if the upcoming meeting between President Donald Trump and his Russian counterpart Vladimir Putin might bring positive news for India. Officials said the mere fact the two leaders had agreed to meet, with Putin prepared to travel to Alaska despite multiple challenges, was a promising sign. 'This is a good thing. If the talks take place after speaking with Putin, then the other 25% will be resolved because that was mainly due to taking oil from Russia. If the war ends, that tariff will also end. But we still need to work on the remaining 25%, as that too is affecting us," Tharoor said. view comments Location : New Delhi, India, India First Published: August 12, 2025, 00:44 IST News india Tharoor-Led Foreign Affairs Panel Reviews India-US Trade Deal Amid Trump's Tariff War Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
