India needs to be cautious on Trump threat of tariffs
2 weeks, 6 days ago

India needs to be cautious on Trump threat of tariffs

New Indian Express  

US president-elect Donald Trump’s latest beef about BRICS countries trying to create their own common currency to curb the dominance of the dollar is a typical Trumpian response to what looks like a non-issue. Trump has threatened the BRICS countries with 100 per cent duties on goods sold to the US by these countries if they go ahead with the idea of a new currency or replace the dollar with an existing alternative. Trump 1.0 had not just threatened, but also acted on levying high import duties on goods exported to the US, including some from India. When India and several European countries had levied a digital services tax on large tech companies—most of them US-based—the previous Trump administration had started investigating their trade practices in order to impose higher import duties on them.

India Trump Brics Countries  cautious  latest  import  threat  duties  currency  india  countries  needs  trump  tariffs  idea  brics  trade

History of this topic

‘Full-scale tariff war with US will shave 0.3% off India's GDP next fiscal’
4 days, 19 hours ago

‘Full-scale tariff war with US will shave 0.3% off India's GDP next fiscal’

New Indian Express  

MUMBAI: The incoming US president Donald Trump’s tariff war warnings, if implemented at the threatened level, will shave 0.3 percent off our GDP next fiscal but will have no impact if the import duty hikes are partial, says a leading domestic brokerage. Trump has been criticising New Delhi’s tariff regime for long, pointing to 100 percent tariffs on certain American …

Why Donald Trump should tame his love for tariffs
1 week, 3 days ago

Why Donald Trump should tame his love for tariffs

Firstpost  

It should be useful for the Trump administration to review the structural issues and excessive dependence on unilateral and punitive approaches that run counter to his own objectives of Making America Great Again in the short and medium term President Donald Trump loves tariffs, especially when he can unilaterally impose them as a dangling stick, hoping it might turn into …

The great unknown: how a Trump presidency could affect the world, in five charts
1 week, 5 days ago

The great unknown: how a Trump presidency could affect the world, in five charts

Live Mint  

US President Harry S. Truman once famously asked for a “one-handed economist" because he was tired of economists who, instead of giving decisive answers, would say, “On the one hand, this, and on the other hand, that." A plan to impose across-the-board tariffs on Mexico, Canada and China reinforced the view that tariffs would increase prices and keep US interest …

'No proposal to have BRICS currency': Jaishankar reacts to Trump's 100 per cent tariff warning
2 weeks, 1 day ago

'No proposal to have BRICS currency': Jaishankar reacts to Trump's 100 per cent tariff warning

India TV News  

External Affairs Minister Dr S Jaishankar on Saturday said that BRICS countries do not intend to weaken the US dollar and India has never been for de-dollarisation. His statement came in response to US President-elect Donald Trump's recent threats of imposing a 100 per cent tariff if BRICS countries went ahead with plans for a common currency. He threatened the …

On Trump's tariff threat, Jaishankar says India never for de-dollarisation
Top News
2 weeks, 1 day ago

On Trump's tariff threat, Jaishankar says India never for de-dollarisation

India Today  

External Affairs Minister S Jaishankar on Saturday responded to President-elect Donald Trump's threat to impose a 100 per cent tariff on Brics countries, saying that India has no intentions of weakening the US dollar. Jaishankar's remarks came a week after Donald Trump posted on his Truth Social platform, seeking a commitment from Brics nations that they would not create a …

‘India Never For De-Dollarisation, There’s No BRICS Currency Proposal’: Jaishankar After Trump’s Tariff Warning
Trending News
2 weeks, 2 days ago

‘India Never For De-Dollarisation, There’s No BRICS Currency Proposal’: Jaishankar After Trump’s Tariff Warning

ABP News  

External Affairs Minister S. Jaishankar on Saturday addressed remarks by Prime Minister Narendra Modi and U.S. President-elect Donald Trump, particularly focusing on Trump's recent warning to BRICS nations about imposing a 100 per cent tariff if they pursued a BRICS currency. EAM S Jaishankar Acknowledges Complexities Of Global Diplomacy Speaking at the Doha Forum, hosted by Qatar's Prime Minister and …

Jaishankar responds to claims of Brics undermining US dollar amid Trump's 100% tariff threat
2 weeks, 2 days ago

Jaishankar responds to claims of Brics undermining US dollar amid Trump's 100% tariff threat

Firstpost  

At a recent Brics summit in Kazan, Russia proposed “BRICS Pay,” a payment system akin to SWIFT and India’s Unified Payments Interface. The system aims to facilitate seamless cross-border payments in native currencies like the ruble, yuan, rupee, real, and rand Indian External Affairs Minister S Jaishankar said Brics bloc is not looking to create a rival to the US …

De-dollarisation not on the table, says RBI Guv
2 weeks, 3 days ago

De-dollarisation not on the table, says RBI Guv

New Indian Express  

Reserve Bank Governor Shaktikanta Das has downplayed the punitive tariffs threatened by U.S. President-elect Donald Trump against BRICS nations if they move away from the dollar, stating that each punitive action would likely provoke counteractions from the affected countries. Trump had on November 30 asked for a commitment from BRICS countries that they would neither create a new currency nor …

Should Brics worry about Trump’s threat?
2 weeks, 6 days ago

Should Brics worry about Trump’s threat?

Live Mint  

The president-elect of the US, Donald Trump, has threatened the Brics nations with 100% tariffs should they create their separate currency or back any other currency in their attempt to move away from the dollar. While Trump’s muscle-flexing over the dollar cannot be ignored, experts believe such an action is unlikely to be taken by the US for two reasons: …

Trump's tariff threats target BRICS nations
2 weeks, 6 days ago

Trump's tariff threats target BRICS nations

China Daily  

By HENG WEILI in New York | China Daily | Updated: 2024-12-03 09:36 People walk past a board displaying currency exchange rates of the US dollar and Euro against Russian rouble in Moscow, Russia, November 27, 2024. On Saturday evening, US President-elect Donald Trump threatened to impose 100 percent tariffs on BRICS countries — which include China and Russia — …

Trump's tariff threats target BRICS nations
2 weeks, 6 days ago

Trump's tariff threats target BRICS nations

China Daily  

By HENG WEILI in New York | China Daily | Updated: 2024-12-03 09:36 People walk past a board displaying currency exchange rates of the US dollar and Euro against Russian rouble in Moscow, Russia, November 27, 2024. On Saturday evening, US President-elect Donald Trump threatened to impose 100 percent tariffs on BRICS countries — which include China and Russia — …

Trump's tariff threats target BRICS nations
2 weeks, 6 days ago

Trump's tariff threats target BRICS nations

China Daily  

People walk past a board displaying currency exchange rates of the US dollar and Euro against Russian rouble in Moscow, Russia, November 27, 2024. On Saturday evening, US President-elect Donald Trump threatened to impose 100 percent tariffs on BRICS countries — which include China and Russia — that do not use the dollar as their reserve currency. "We require a …

Trump's tariff threats target BRICS nations
2 weeks, 6 days ago

Trump's tariff threats target BRICS nations

China Daily  

People walk past a board displaying currency exchange rates of the US dollar and Euro against Russian rouble in Moscow, Russia, November 27, 2024. On Saturday evening, US President-elect Donald Trump threatened to impose 100 percent tariffs on BRICS countries — which include China and Russia — that do not use the dollar as their reserve currency. "We require a …

DC Edit | Trump’s Brics threat is premature
2 weeks, 6 days ago

DC Edit | Trump’s Brics threat is premature

Deccan Chronicle  

US President-elect Donald Trump’s threat to levy 100 per cent duty on imports from Brics+ nations, if they chose to float an alternative global reserve currency to the US dollar, is premature and does not take into account ground realities. Eighty eight per cent of foreign exchange transactions take place in the dollar, 58 per cent of foreign currency reserves …

Dollar challenge to Brics nations
Top News
3 weeks ago

Dollar challenge to Brics nations

Hindustan Times  

Donald Trump will only take over the White House in January next year. ALLISON ROBBERT/Pool via REUTERS/File Photo After his proclamations of imposing tariffs on countries such as Canada and Mexico on his first day in office, Trump has now warned Brics countries against attempts to float any other currency to challenge the dollar’s hegemonic status. To give an example, …

How far Donald Trump’s BRICS tariff threat can become a reality
3 weeks ago

How far Donald Trump’s BRICS tariff threat can become a reality

Firstpost  

Too many overlapping tariffs are likely to harm American interests by raising domestic consumer prices. To put American interests first, President Trump might have to balance his initiatives in Trump 2.0 and distinguish sharply between friend and foe Trump wants reciprocity from perceived friends in Europe, the EU, and NATO, as well as strategic partners such as India and Taiwan …

Why is Donald Trump threatening Brics members against de-dollarisation?
Top News
3 weeks ago

Why is Donald Trump threatening Brics members against de-dollarisation?

Firstpost  

Donald Trump has demanded that Brics members promise not to create a new currency or support another currency to replace the United States dollar as the world’s reserve currency. Trump has demanded that Brics member nations promise not to create a new currency or support another currency to replace the United States dollar. “We require a commitment from these countries …

Trump’s 100 per cent tariff threat on BRICS: Need to see if US law permits sanctions: Ex-RBI Guv
3 weeks ago

Trump’s 100 per cent tariff threat on BRICS: Need to see if US law permits sanctions: Ex-RBI Guv

Live Mint  

Hyderabad, President-elect Donald Trump’s warning that BRICS countries will face 100 per cent tariffs if they choose to move away from the US dollar is unclear to what extent he will carry out his threat, as it remains to be seen if the US law permits such an action, former RBI Governor Duvvuri Subbarao said on Monday. The nine-member group …

Trump's 100% tariff threat on BRICS de-dollarisation impractical, says ex-RBI chief Subbarao
3 weeks ago

Trump's 100% tariff threat on BRICS de-dollarisation impractical, says ex-RBI chief Subbarao

New Indian Express  

HYDERABAD: President-elect Donald Trump's warning that BRICS countries will face 100 per cent tariffs if they choose to move away from the US dollar is unclear to what extent he will carry out his threat, as it remains to be seen if the US laws permit such an action, former RBI Governor Duvvuri Subbarao said on Monday. He also said …

Trump's 100% tariff threat on BRICS de-dollarisation impractical, says ex-RBI chief Subbarao
Trending News
3 weeks ago

Trump's 100% tariff threat on BRICS de-dollarisation impractical, says ex-RBI chief Subbarao

New Indian Express  

HYDERABAD: President-elect Donald Trump's warning that BRICS countries will face 100 per cent tariffs if they choose to move away from the US dollar is unclear to what extent he will carry out his threat, as it remains to be seen if the US laws permit such an action, former RBI Governor Duvvuri Subbarao said on Monday. He also said …

“Find another sucker”: Trump threatens 100% tariff on countries that resist U.S. dollar
3 weeks ago

“Find another sucker”: Trump threatens 100% tariff on countries that resist U.S. dollar

Salon  

President-elect Donald Trump's tariff threats continued on Saturday with a pledge to enact 100% tariffs on a bloc of nine countries if they shift away from the U.S. dollar in international trade. “We require a commitment from these Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty U.S. Dollar,” Trump …

Trump's hollow threat: How BRICS sidelined 'wonderful economies' over time
3 weeks ago

Trump's hollow threat: How BRICS sidelined 'wonderful economies' over time

India Today  

Even before being sworn in as the 47th President of the United States, Donald Trump threatened BRICS nations with a 100 per cent tariff. US in huge trade deficit with BRICS nations While Trump has threatened BRICS nations with a 100 per cent tariff, if sales don’t go down despite this, the US will end up doubling its trade deficit …

Trump’s threat of 100% tariffs unrealistic; India should focus on local currency trading:GTRI
3 weeks, 1 day ago

Trump’s threat of 100% tariffs unrealistic; India should focus on local currency trading:GTRI

Live Mint  

New Delhi, Dec 1 The warning of US President-elect Donald Trump to BRICS countries to impose 100 per cent customs duties if the BRICS group would replace the US dollar is unrealistic, and India should focus on developing a workable local currency trading system, think tank GTRI said on Sunday. "Trump's threat to impose 100 per cent tariffs on countries …

Donald Trump seeks ‘commitment’ from BRICS on using US Dollar or else ‘should expect to say goodbye to…’
3 weeks, 1 day ago

Donald Trump seeks ‘commitment’ from BRICS on using US Dollar or else ‘should expect to say goodbye to…’

Hindustan Times  

US President-elect Donald Trump warned the so-called BRICS nations that he would require commitments that they would not move to create a new currency as an alternative to using the US dollar and repeated threats to levy a 100% tariff. “The idea that the BRICS Countries are trying to move away from the dollar while we stand by and watch …

'Go find another sucker': Trump's message to BRICS members, which includes India
3 weeks, 1 day ago

'Go find another sucker': Trump's message to BRICS members, which includes India

Hindustan Times  

Donald Trump, the next president of the United States, said on Saturday that BRICS countries can ‘go find another sucker’ if they cannot commit that they will neither create a new currency of their own, nor back any other currency “to replace the mighty US Dollar”. US President-elect Donald Trump Formed in 2009, BRICS is an intergovernmental organisation comprising nine …

Trump threatens to impose 100% tariff on BRICS nations if they pursue de-dollarisation
Top News
3 weeks, 1 day ago

Trump threatens to impose 100% tariff on BRICS nations if they pursue de-dollarisation

Firstpost  

US President-elect Donald Trump warned BRICS nations that Washington will impose 100 per cent trade on them if they pursue the idea of de-dollarisation, put forward by Russia and China Amid the looming trade wars with Mexico and Canada, US President Donald Trump warned that he will impose a whopping 100 per cent tariffs on BRICS nations unless their governments …

Trump Warns BRICS Countries Of 100% Tariffs If They Replace US Dollar
3 weeks, 1 day ago

Trump Warns BRICS Countries Of 100% Tariffs If They Replace US Dollar

ABP News  

President-elect Donald Trump on Saturday warned BRICS countries against any move to replace the US dollar and has sought a commitment from the nine-member group that includes India, Russia, China, and Brazil. “The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER,” the president-elect said in a post …

Donald Trump vows 100% tariff on BRICS countries if...: ‘Go find another sucker’
Top News
3 weeks, 1 day ago

Donald Trump vows 100% tariff on BRICS countries if...: ‘Go find another sucker’

Live Mint  

US President-elect Donald Trump has vowed 100% tariff on BRICS countries if they make any move to replace the US dollar and sought a commitment from the nine-member group that includes India, Russia, China, and Brazil. Over the past few years a few of its member countries, in particular Russia and China, are seeking an alternative to the US Dollar …

US President-elect Trump threatens BRICS nations with 100 per cent tariffs over plans to replace dollar
3 weeks, 1 day ago

US President-elect Trump threatens BRICS nations with 100 per cent tariffs over plans to replace dollar

New Indian Express  

NEW DELHI: U.S. President elect Donald Trump on Sunday said that BRICS countries trying to move away from dollar will face 100 per cent tariffs. We require a commitment from these countries that they will neither create a new BRICS Currency, nor back any other currency to replace the mighty U.S. Dollar or, they will face 100 per cent tariffs …

Trump threatens BRICS nations with 100 per cent tariff against replacing US Dollar
Top News
3 weeks, 1 day ago

Trump threatens BRICS nations with 100 per cent tariff against replacing US Dollar

India TV News  

President-elect Donald Trump on Saturday warned BRICS countries against any move to replace the US dollar. He threatened the member countries of 100 per cent tariff imposition for such an attempt while seeking a commitment from the nine-member group that includes India, Russia, China, and Brazil. “We require a commitment from these Countries that they will neither create a new …

As Trump threatens 100% tariffs, where India stands on Brics currency vs dollar
3 weeks, 1 day ago

As Trump threatens 100% tariffs, where India stands on Brics currency vs dollar

India Today  

As Donald Trump returns to the White House in January 2025, his aggressive trade stance - the latest now being a 100 per cent tariff threat on Brics nations, including India, if they went ahead to develop their own currency to undermine the US dollar's dominance - has already created ripples in the global economy. Trump's 100 per cent tariff …

'Blood will emerge from my ear': Experts pounce on Trump's new 'weaponization' threat
3 weeks, 1 day ago

'Blood will emerge from my ear': Experts pounce on Trump's new 'weaponization' threat

Raw Story  

Donald Trump Saturday made a threat to foreign countries on social media, leading one expert to say it amounts to "weaponization of the dollar." Trump over the weekend took to Truth Social, saying, "The idea that the BRICS Countries are trying to move away from the Dollar while we stand by and watch is OVER." "We require a commitment from …

Trump threatens 100% tariff on the BRIC bloc of nations if they act to undermine US dollar
Trending News
3 weeks, 2 days ago

Trump threatens 100% tariff on the BRIC bloc of nations if they act to undermine US dollar

Associated Press  

WEST PALM BEACH, Fla. — President-elect Donald Trump on Saturday threatened 100% tariffs against a bloc of nine nations if they act to undermine the U.S. dollar. Trump, in a Truth Social post, said: “We require a commitment from these Countries that they will neither create a new BRICS Currency, nor back any other Currency to replace the mighty U.S. …

Trump threatens 100% tariff on multiple countries, including India, if they...
3 weeks, 2 days ago

Trump threatens 100% tariff on multiple countries, including India, if they...

Firstpost  

“We require a commitment from these Countries that they will neither create a new…Currency, nor back any other Currency to replace the mighty U.S. Dollar,” Trump wrote on Truth Social US President-elect Donald Trump has threatened to slap India, and other BRICS countries, with 100% tariffs. In a post on his social media platform Truth Social on Saturday, he wrote, …

Trump threatens 100% tariff on BRICS countries if they pursue creating new currency
3 weeks, 2 days ago

Trump threatens 100% tariff on BRICS countries if they pursue creating new currency

CNN  

CNN — President-elect Donald Trump said he would require countries that are part of BRICS — a China- and Russia-backed group of emerging economies — to commit to not creating new currency or face 100% tariffs during his administration. We require a commitment from these Countries that they will neither create a new BRICS Currency, nor back any other Currency …

Mint Quick Edit | Trump’s non-trade tariff idea raises uncertainty
Trending News
3 weeks, 5 days ago

Mint Quick Edit | Trump’s non-trade tariff idea raises uncertainty

Live Mint  

US President-elect Donald Trump is yet to take office, but he has been causing shudders around the world with what policies he might adopt. On Tuesday, Trump put out a post on social media announcing that his administration would impose a 25% tariff on all goods imported from Mexico and Canada and an additional 10% on China as his first …

Trump’s policies may open new doors for India’s defence sector: Report
Trending News
4 weeks ago

Trump’s policies may open new doors for India’s defence sector: Report

Live Mint  

New Delhi, November 25 : The "America First" trade policy promoted by upcoming U.S. President Donald Trump has far-reaching implications for global trade and geopolitics. It said "Indian businesses in sectors such as pharmaceuticals and defense might also find new opportunities, especially if U.S.- India collaboration strengthens. The report said "increased tariffs might prompt retaliatory measures from trade partners, potentially …

Trump risk: The rupee could get caught in the crossfire of a currency
1 month, 1 week ago

Trump risk: The rupee could get caught in the crossfire of a currency

Live Mint  

Nothing has consumed more ‘little grey cells’ than discussions on the United States presidential election, the contenders and their impact on the fate of the global economy after this “mother of all US elections." Sure enough, no Chinese policy pivot would put a floor under China’s economy, soften the US tariff impact and stabilize consumer prices faster than a weaker …

US Elections 2024: 5 key points from Donald Trump’s election manifesto that may impact India
1 month, 1 week ago

US Elections 2024: 5 key points from Donald Trump’s election manifesto that may impact India

Live Mint  

Donald Trump has secured his return to the White House as the 47th President of the United States, following a highly-competitive election on November 5, 2024. Trump’s Policy Agenda 5 key points from Donald Trump’s election manifesto that may impact India: Tax Reforms: As per the report, Trump’s policy platform emphasises extending the 2017 Tax Cuts and Jobs Act, which …

India bets on Modi-Trump warmth to navigate choppy future with US
Trending News
1 month, 1 week ago

India bets on Modi-Trump warmth to navigate choppy future with US

Al Jazeera  

New Delhi, India — During his campaign for re-election, Donald Trump repeatedly threatened major tariffs on imports from a range of countries. Now, Trump’s “America First” agenda — which aims to offset domestic tax cuts by imposing higher tariffs on imports — could disrupt that relationship. “During the first term, Trump got into this whole ‘protectionist mode’, but upon his …

Trump's potential return sparks concerns over Indo-US trade ties, tariffs
Trending News
1 month, 2 weeks ago

Trump's potential return sparks concerns over Indo-US trade ties, tariffs

New Indian Express  

Donald Trump’s return as the 47th president of the US will likely put Indo-US trade ties under sharp focus. Trump has promised a fresh wave of tariffs under his ‘America first’ stance, which may adversely affect countries like India and its key sectors such IT, pharmaceuticals, textiles, chemicals and automotive parts. He even proposed import duty increases of 10-20 percent …

America First, round two: What Trump's trade agenda means for India and the world
1 month, 2 weeks ago

America First, round two: What Trump's trade agenda means for India and the world

India Today  

With Donald Trump’s return to the White House, global trade dynamics face a seismic shift. India’s strategic balance As Trump brings his protectionist trade policies back, India faces pressure to lower trade barriers or risk tariffs on key exports. Why India matters to the US India holds unique significance for the US — first, as a strategic partner in countering …

Opinion: Trump poses no major threat to Indian exports
1 month, 2 weeks ago

Opinion: Trump poses no major threat to Indian exports

Live Mint  

Donald Trump will be the next US President. It is known that the US is India’s second-largest trade partner with total trade in goods and services of about $200 billion, and here service exports play a major part. In September last year, US trade representative Katherine Tai announced that India and the US had agreed to resolve their last outstanding …

Dollar hegemony prompts BRICS rethink
1 year, 4 months ago

Dollar hegemony prompts BRICS rethink

China Daily  

SHI YU/CHINA DAILY At the ongoing BRICS Summit in Johannesburg, a key topic that has attracted wide attention is the further development of new and complementary reserve currencies and settlement mechanisms. At the end of March, Alexander Babakov, deputy chairman of the Duma, the lower house of the Russian parliament, said the BRICS countries were working on creating a new …

Dollar hegemony prompts BRICS rethink
1 year, 4 months ago

Dollar hegemony prompts BRICS rethink

China Daily  

SHI YU/CHINA DAILY At the ongoing BRICS Summit in Johannesburg, a key topic that has attracted wide attention is the further development of new and complementary reserve currencies and settlement mechanisms. At the end of March, Alexander Babakov, deputy chairman of the Duma, the lower house of the Russian parliament, said the BRICS countries were working on creating a new …

Jaishankar Makes Big Comment on BRICS Currency Plans Amid De-Dollarisation Push | Watch
1 year, 5 months ago

Jaishankar Makes Big Comment on BRICS Currency Plans Amid De-Dollarisation Push | Watch

Hindustan Times  

Jaishankar Makes Big Comment on BRICS Currency Plans Amid De-Dollarisation Push | Watch India has made a big declaration amid speculation of a new BRICS currency. India's external affairs minister, S. Jaishankar, said there are no plans for a new BRICS currency and that the focus is on strengthening the national currency. Some reports state that 41 countries, including Bangladesh, …

After the stalled rupee-oil trade with Russia, India should be cautious on BRICS currency
1 year, 6 months ago

After the stalled rupee-oil trade with Russia, India should be cautious on BRICS currency

Firstpost  

On paper, India’s rupee-based oil trade with Russia was historic and also path-breaking for the world at large even more than what the arrival of euro and yuan might have been when they hit the global track. The dichotomy could only accentuate if India were to fall into the trap of joining the BRICS chorus for a currency of its …

Dollar Decoupled: Donald Trump warns US currency 'crashing, will no longer be the world standard'
1 year, 8 months ago

Dollar Decoupled: Donald Trump warns US currency 'crashing, will no longer be the world standard'

Firstpost  

Donald Trump, frontrunner in the race for the 2024 Republican nomination, has been outrightly critical about the state of the economy of America New York: Dollar is “crashing” and “will soon no longer be the world standard,” said former US President Donald Trump, accusing his successor Joe Biden of destroying the country. There will be no defeat like that will …

India ready for rupee trade with countries facing currency crises: Commerce Secretary
1 year, 8 months ago

India ready for rupee trade with countries facing currency crises: Commerce Secretary

The Hindu  

Commerce Secretary Sunil Barthwal on March 31 said India is ready to trade in Indan Rupee with countries which are facing currency failure or have dollar shortage. Speaking after the unveiling of Foreign Trade Policy 2023 which seeks to increase India's exports to $2 trillion by 2030, the Secretary also said the government is focusing on strengthening the rupee payment …

Discover Related