Latest news with #FairandReciprocalPlan
Yahoo
19-05-2025
- Business
- Yahoo
GOBankingRates President: 3 Ways Trump's Tariffs Can Lower Costs To Save You Money
In February, President Donald Trump announced a 'Fair and Reciprocal Plan' enacting tariffs on U.S. trading partners. 'Gone are the days of America being taken advantage of,' an official White House fact sheet stated. 'This plan will put the American worker first, improve our competitiveness in every area of industry, reduce our trade deficit, and bolster our economic and national security.' Trending Now: Try This: GOBankingRates' president, Jeff Bartlett, agrees that Trump's proposed tariffs will end up benefiting all Americans. 'Contrary to what we may hear from legacy media, protecting a country like the U.S.'s economy from unfair trade practices most often helps Americans by lowering costs in the end,' he said. Here's why Bartlett believes that Trump's tariffs will have a positive impact on your wallet. If the U.S. is less reliant on foreign countries for certain products, this could open new doors for domestic businesses to fill in the gap. With more U.S.-based businesses encouraged to create goods, this will drive competition. '[Tariffs] create more fair competition,' Bartlett said. Due to the laws of supply and demand, the more competition there is, the more competitive the prices will be as well, leading to cost-savings for consumers. Read Next: Tariffs can drive up prices on foreign goods and services, which could create more opportunities for domestic businesses to replace these products and services at a more affordable cost. '[Tariffs] bring more opportunity for American businesses,' Bartlett said. He believes that tariffs 'will help American farmers again, will help American car manufacturers thrive and will help U.S. cattle ranchers succeed.' Bartlett notes that tariffs 'will open up new markets to American companies not allowed to do business in places like Canada, China, Japan, Taiwan, etc.' It's not just business owners who would benefit from Trump's proposed tariffs. '[As tariffs] bring more opportunity for American businesses, [these businesses] then in turn often hire more Americans and have the ability to pay higher wages,' Bartlett said. 'Tariffs will open up more U.S. jobs and will bring in billions in revenue.' More From GOBankingRates Surprising Items People Are Stocking Up On Before Tariff Pains Hit: Is It Smart? Here's the Minimum Salary Required To Be Considered Upper Class in 2025 5 Little-Known Ways to Make Summer Travel More Affordable 10 Unreliable SUVs To Stay Away From Buying Source The White House, 'Fact Sheet: President Donald J. Trump Announces 'Fair and Reciprocal Plan' on Trade' This article originally appeared on GOBankingRates President: 3 Ways Trump's Tariffs Can Lower Costs To Save You Money
Times of Oman
17-04-2025
- Business
- Times of Oman
China now faces up to 245% tariffs from US: White House
Washington DC: China's retaliatory actions have resulted in up to a 245 per cent tariff on imports to the United States, according to a fact sheet released by the White House. Prior to the latest revision, a 145 per cent tariff was being levied on Chinese exports to the United States. US President Donald Trump had imposed reciprocal tariffs on dozens of countries with which the country has a trade deficit. Later, President Trump decided to pause the tariffs for 90 days after many countries initiated talks with the US administration for a trade deal. "More than 75 countries have already reached out to discuss new trade deals," the White House fact sheet said. "As a result, the individualised higher tariffs are currently paused amid these discussions, except for China, which retaliated," the fact sheet added. For the time being, a baseline tariff of 10 per cent would be applicable on US imports. President Trump imposed a 10 per cent tariff on all countries and individualised reciprocal higher tariffs on nations with which the US has the largest trade deficits in order to level the playing field and protect America's national security. President Trump unveiled the "Fair and Reciprocal Plan" on trade to restore fairness in U.S. trade relationships and counter non-reciprocal trade agreements. Trump's reciprocal tariffs have led to a broad-based fall in financial markets globally, with markets plunging in Asia and Europe. The reciprocal tariffs have set off a sell-off in equities globally, and the US itself is no exception. Investors fear that the moves concerning global trade may raise inflation, risking economic growth. Since assuming office for his second term, President Trump has reiterated his stance on tariff reciprocity, emphasising that the United States will match tariffs imposed by other countries, including India, to ensure fair trade.
Zawya
03-04-2025
- Business
- Zawya
Indian stocks recover from Tuesday's bloodbath ahead of Trump reciprocal tariffs announcement
New Delhi: Indian stock indices recovered considerably on Wednesday after experiencing a slump in the previous session. Sensex closed at 76,617.44 points, up 592.93 points or up 0.78 per cent, Nifty closed at 23,332.35 points, up 166.65 points or 0.72 per cent, respectively. All the sectoral indices were in the green today, with Nifty realty rising the most at 3.61 per cent, data showed. On Tuesday, Sensex slumped about 1,400 points in a stock market bloodbath. Now, all eyes are on the Trump administration's reciprocal tariff plans set to be announced in the early hours of Thursday. Those announcements will come into effect immediately. Trump administration intends to implement reciprocal tariffs on trading partners as part of the "Fair and Reciprocal Plan". Experts say that US President Donald Trump's statement that India was planning to drop its tariffs on American goods, substantially supported the markets on Wednesday. Perhaps Trump's comments were seen by investors as a hint that the US will go soft on India as both countries are negotiating a bilateral trade pact. Faced with Trump's tariffs, some countries have imposed counter-tariffs on US goods, but India has stayed away from any such move. "Despite mixed global cues surrounding the impending US tariffs, the domestic market experienced steady gains. This optimism was largely driven by expectations that the tariffs would have a minimal impact on the domestic economy, given the positive progress in India-US trade negotiations," said Vinod Nair, Head of Research, Geojit Investments Limited. Nair added that sentiment was further reinforced by India's manufacturing PMI for March, which reached an eight-month high, hinting at a recovery in Q4FY25 corporate earnings. Since assuming office for his second term, President Trump has reiterated his stance on tariff reciprocity, emphasising that the United States will match tariffs imposed by other countries, including India, to ensure fair trade. © Muscat Media Group Provided by SyndiGate Media Inc. (
Times of Oman
02-04-2025
- Business
- Times of Oman
Indian stocks recover from Tuesday's bloodbath ahead of Trump reciprocal tariffs announcement
New Delhi: Indian stock indices recovered considerably on Wednesday after experiencing a slump in the previous session. Sensex closed at 76,617.44 points, up 592.93 points or up 0.78 per cent, Nifty closed at 23,332.35 points, up 166.65 points or 0.72 per cent, respectively. All the sectoral indices were in the green today, with Nifty realty rising the most at 3.61 per cent, data showed. On Tuesday, Sensex slumped about 1,400 points in a stock market bloodbath. Now, all eyes are on the Trump administration's reciprocal tariff plans set to be announced in the early hours of Thursday. Those announcements will come into effect immediately. Trump administration intends to implement reciprocal tariffs on trading partners as part of the "Fair and Reciprocal Plan". Experts say that US President Donald Trump's statement that India was planning to drop its tariffs on American goods, substantially supported the markets on Wednesday. Perhaps Trump's comments were seen by investors as a hint that the US will go soft on India as both countries are negotiating a bilateral trade pact. Faced with Trump's tariffs, some countries have imposed counter-tariffs on US goods, but India has stayed away from any such move. "Despite mixed global cues surrounding the impending US tariffs, the domestic market experienced steady gains. This optimism was largely driven by expectations that the tariffs would have a minimal impact on the domestic economy, given the positive progress in India-US trade negotiations," said Vinod Nair, Head of Research, Geojit Investments Limited. Nair added that sentiment was further reinforced by India's manufacturing PMI for March, which reached an eight-month high, hinting at a recovery in Q4FY25 corporate earnings. Since assuming office for his second term, President Trump has reiterated his stance on tariff reciprocity, emphasising that the United States will match tariffs imposed by other countries, including India, to ensure fair trade.
Zawya
02-04-2025
- Business
- Zawya
India could lose $6bn in exports to US on 10% tariffs, rising to $31bn at 25%: Report
New Delhi: India could see a loss of around $6 billion, or 0.16 per cent of its GDP, in exports to the US if broad tariffs of 10 per cent are enacted, Emkay Global, a research & investment firm, said in a latest report. The Financial services company said in the report that the impact could increase significantly, reaching up to USD 31 billion if tariffs rise to 25 per cent. While the specifics of reciprocal tariff measures remain uncertain, a broad country-level tariff on India appears to be the most likely scenario, the report added. Despite potential fallout in key sectors such as auto, pharma, and electronics, the report highlights that India's most vulnerable industries are apparel and gems/jewellery. Additionally, the report suggests potential "easy wins" in tariff negotiations, such as higher energy and defence imports, which could help mitigate some of the losses. "We identify these 'Easy Wins' as: i) increasing energy (crude oil, natural gas) imports from the US, ii) increase defence purchases and cooperation, iii) reduce tariffs on certain agri/food commodities, and iv) lower tariffs on foreign EVs," the report said, adding that India should pursue negotiations with the US by offering concessions in some key sectors, which would not hurt domestic industry, but are important politically/economically for Trump, in exchange for tariff mitigation elsewhere. The report adds that the broader US tariff war has aims beyond trade policy, with China likely to continue being targeted. It adds that India's opportunity from this war is limited. "India has not gained global market share in the low-skill areas that China has vacated post-Covid, and China exports relatively more complex products than India (75 per cent of Chinese exports to the world are complex vs 45 per cent for India), leaving limited opportunities for India," the report added. Beginning on April 2, the Trump administration intends to implement reciprocal tariffs on trading partners as part of the "Fair and Reciprocal Plan". In other developments, Arvind Virmani, Member Niti Aayog said that a bilateral trade between India and the US is likely to be signed by the end of the year. Meanwhile, on March 29, the US President Donald Trump said that the 'tariffs are going to work out well between New Delhi and the Washington, DC,' expecting a favourable outcome. © Muscat Media Group Provided by SyndiGate Media Inc. (
