BRICS, Trump and 10 Tariff
Digest more
The GTRI report warns India against hastily signing trade deals with the US due to aggressive tariffs and penalties. It emphasizes that the US's use of the dollar as a weapon has compelled nations to
Trump’s new tariff letters have sent shockwaves across global markets as he targets 22 countries with tough new trade threats just weeks before the August 1 deadline. From close allies like Japan and South Korea to BRICS nations like Brazil and South Africa,
President Donald Trump said he would not offer any extensions for the implementation of increased tariffs on many goods imported into the US, pledging that new rates would hit at the beginning of August.
The Indian rupee slumped on Monday as uncertainty about U.S. tariff policies resurfaced with President Donald Trump's threat of a fresh 10% levy on BRICS countries compounding pressure on the local currency alongside peers like South African rand and Chinese yuan.
The president’s tariff announcements suggest he has not backed away from his initial strategy, where even smaller trading partners will face tariffs.
Canadian Prime Minister Mark Carney says Canada will keep working toward a new trade framework with the United States despite U.S. President Donald Trump saying he'll raise taxes on many imported good