US tariff will be an opportunity for India-UAE bilateral trade: UAE parliamentarian Ali Rashid Al Nuaimi
Ali Rashid Al Nuaimi, a UAE parliamentarian, asserted on Friday that with any challenge comes opportunity, and the latest tariff regime in the US can be an opportune moment for India-UAE ties.
“This (US tariff) brings opportunity for the relationship between our two countries. The bilateral relationship should take advantage…,” the UAE politician told ANI in Dubai.
“We do understand that, but at the same time, there is always opportunity. Here in the UAE, whenever there are challenges, there are opportunities. And we see that both countries, UAE and India, should try to look into the opportunity that these challenges are bringing to the world,” the UAE Parliamentarian and Educator, Chairman, Defense Affairs, Interior and Foreign Affairs Committee, UAE Federal National Council, said.
‘Indian economy is self-reliant, and impact will be extremely minimal’: BJP’s Zafar Islam on Tariffs
Senior BJP leader and Member of Parliament Zafar Islam highlighted India’s robust economic growth, attributing it to the transformative policies implemented since 2014.
“India’s economy is growing rapidly,” Islam stated. “In every sector, especially in power, we are witnessing significant development.”
Addressing concerns about international economic policies, Islam remarked, “There is global nervousness around Trump’s tariffs. However, the Indian economy is self-reliant, and the impact on it will be extremely minimal.”
He further elaborated on the indicators of economic strength: “If you look at high-frequency data, it clearly shows the strength of the Indian economy–whether it’s strong capital expenditure or sustained growth momentum.”
Reflecting on the government’s journey since 2014, Islam said, “When we came to power in 2014, PM Modi began working on an economic transformation. One of his first steps was launching the Jan Dhan Yojana to connect people with the banking system. Today, over 53 crore people are linked to this scheme, and remarkably, 66% of them are women.”
Tariff showdown: Can China outlast US? Beijing thinks so
China is refusing to back down in its tariff standoff with the United States because Beijing believes it has the strength and strategy to endure what it sees as economic bullying from Washington.
Chinese leaders have repeatedly told the public that they are capable of absorbing the impact, positioning themselves as resilient and unwilling to yield to what they have repeatedly described as “economic bullying.”
We are doing really well on our tariff policy. Very exciting for America, and the World!!! It is moving along quickly.
African Development Bank chief warns of tariff ‘shock wave’
An onslaught of tariffs by the United States will send “shock waves” through African economies, the president of the African Development Bank said on Friday, warning of reduced trade and higher debt-servicing costs.
The comments come as US President Donald Trump has upended global markets by pushing — and then retracting — a slew of tariffs in recent days.
A baseline 10-percent levy remains in place for all countries, along with higher tariffs on Chinese imports to the United States — scrambling decades of global trade policy.
Those new levies — with 47 African countries at risk of even higher tariffs — will cause local currencies to weaken on the back of reduced foreign exchange earnings, AfDB President Akinwumi Adesina said in the Nigerian capital Abuja.
UK economy enjoyed unexpected growth spurt in February before Trump tariff turmoil
Official figures Friday showed that the British economy, the world’s sixth-largest, enjoyed a growth spurt in February, the month before US President Donald Trump started to roll out tariffs on imported goods. The Office for National Statistics found that the British economy grew by 0.5% in February, ahead of market expectations for a more modest increase of 0.2%. It also revised up January’s figure to no change from the previous estimate of a 0.1% decline.
Were these more normal times, hopes for the year ahead would be high. But the recent market turmoil prompted by Trump’s tariff policies – and subsequent abrupt changes – is expected to lead to a downturn around the world, as businesses and consumers retrench in the face of the heightened economic uncertainty.
China’s decision to raise tariffs on US goods from 84% to 125% from Saturday has only added to fears that the world’s two biggest economies are heading for a drawn-out and damaging trade war.
Trump ‘optimistic’ about China deal despite tariff row: White House
US President Donald Trump is “optimistic” about striking a trade deal with China, the White House said Friday, even as the world’s two largest economies clash over tariffs.
“The president has made it very clear he’s open to a deal with China,” White House Press Secretary Karoline Leavitt told reporters, adding: “He’s optimistic.”
China retaliates with 125 per cent tariffs against US imports, says more tariffs by Trump will be a joke
China on Friday continued its tit-for-tat move against the Trump administration’s tariffs by hiking its additional levies on imports from the US to 125 per cent against duties of 145 per cent by America even as it evinced interest in dialogue with Washington to resolve the impasse. Announcing an additional 125 per cent tariff, China’s Customs Tariff Commission said, “Even if the US imposes higher tariffs, it would no longer make economic sense and ultimately go down as a joke in world economic history.”
“Given that it’s already impossible for the Chinese market to accept US imports at the current tariff level if the United States imposes further tariffs on Chinese products, China will ignore it,” it said.
However, should the US persist in substantially undermining China’s interests, Beijing will take firm countermeasures and fight to the end, the commission added.
China’s new tariffs of 125 per cent against US imports will be effective from Saturday, it said.
The announcement follows the US move to raise the “reciprocal tariffs” on Chinese imports to 125 per cent. The US later confirmed the total tariff on Chinese products was 145 per cent with the inclusion of 20 per cent levies announced by Trump soon after he took over power in January this year.
Trump tariffs unnerve locals in Irish ‘pharma’ hub
Vast pharmaceutical factories pepper the green landscape in southern Ireland, but the wind turbines next to the plants outside Cork are in the eye of Donald Trump’s global trade storm.
The area around the village of Ringaskiddy and its port in Cork harbour has emerged in recent decades as a base for US pharma giants where products such as Pfizer’s Viagra pills are made and shipped off to the United States and worldwide.
Pharmaceuticals are now the motor of Ireland’s economy, accounting for around 100 billion euros ($114 billion) in 2024, almost half of all Irish exports, and up around 30 percent from the previous year.
The sector also provides an estimated 20,000 well-paid jobs in County Cork, most of them around Ringaskiddy and the neighbouring commuter town of Carrigaline, and flushes a corporate tax bounty into the Irish exchequer.
Trump insists tariff policy ‘doing really well’
President Donald Trump struck a confident tone on Friday despite his tariff policy triggering worries about the US economy with the dollar falling and markets in turmoil.
“We are doing really well on our tariff policy. Very exciting for America, and the World!!! It is moving along quickly,” Trump said on social media.
Tariff war: Centre operationalises Global Tariff and Trade Helpdesk to assist stakeholders
The commerce ministry is actively tracking developments in global trade, particularly in relation to tariff changes, import surges, and export-related challenges, an official statement said on Friday. In this backdrop, the Directorate General of Foreign Trade (DGFT) has operationalised a dedicated ‘Global Tariff and Trade Helpdesk’ to assist stakeholders in navigating emerging trade issues, the commerce ministry said.
“Given the evolving trade landscape and the introduction of various tariff and counter-tariff measures, there may be both new export opportunities and heightened import pressures from specific countries or product sectors,” it said.
The helpdesk would look into issues relating to import and export challenges, import surges or dumping, EXIM Clearance, logistics or supply chain challenges, financial or banking issues, and regulatory or compliance issues.