US Export

The deterioration in the trade deficit and drop in consumer spending in January have raised the risk of a contraction in gross domestic product in the first quarter

The customs duty reduction announced in the Budget on products such as motorcycles and synthetic flavouring essences would benefit American exports, economic think tank GTRI said on Sunday. The Global Trade Research Initiative (GTRI) said that despite the repeated criticism of India as the biggest tariff abuser and tariff king by the Trump-administration, the country's Budget has introduced significant tariff reductions on multiple products, many of which benefit the US exports. "With key tariff cuts on technology, automobiles, industrial inputs, and waste imports, India appears to be taking steps toward facilitating trade even as the global trade environment remains tense. Whether these reductions will alter Washington's view of India's trade practices or become a point of contention in the US election cycle remains to be seen," it added. Among the key tariff reductions, India lowered the duty on fish hydrolysate for the manufacturing of aquatic feed from 15 per cent to 5 per cent,

Imports rose 3.4 per cent to $351.6 billion. Goods imports surged 4.3 per cent to $280.9 billion. They were driven by a $3.7 billion increase in industrial supplies and materials

Exporters on Thursday sought a fund of Rs 750 crore for three years to tap USD 25 billion export potential in the US, aiming to seize potential opportunities that may arise as the US President-elect, Donald Trump, has threatened to impose high tariffs on Chinese goods. In its pre-Budget meeting with the finance ministry, Federation of Indian Export Organisations (FIEO) President Ashwani Kumar has also demanded extension of the five per cent Interest Equalisation Scheme (IES). "A marketing scheme to focus on the US with a corpus of Rs 250 crore per year (Rs 750 crore overall) for three years may be launched to generate additional exports of USD 25 billion," Kumar said. He said that higher tariffs on China can create a significant opportunity for Indian exports, particularly in sectors where China has previously been a dominant supplier. Based on a study undertaken by FIEO, India can replace China in sectors like electronics and electrical equipment (USD 10 billion additional export

The comment by exporters' body comes at a time when Trump threatens to impose high tariffs on Chinese goods

The trade gap contracted 10.8 per cent to $70.4 billion from a revised $78.9 billion in July, the Commerce Department's Bureau of Economic Analysis said

Vietnam has been the biggest beneficiary. It saw an incremental increase in electronics exports worth $39.1 billion between 2018 and 2023

The plan, released by six departments in Beijing including the Ministry of Industry and Information Technology (MIIT), has set a target for China's total computing power to reach 300 EFLOPS by 2025

The federal government is looking to ban importation and exportation of a species of a tropical fish that conservation groups have long said is exploited by the pet trade. The fish is the Banggai cardinalfish, a small striped saltwater fish native to Indonesia. The National Oceanic and Atmospheric Administration listed the species as threatened under the Endangered Species Act in 2016, saying that the main threats to the fish included harvest for ornamental aquariums. The agency proposed on Tuesday to apply prohibitions under the Endangered Species Act that would make it unlawful to import or export the species in the United States. The proposal followed a 2021 petition from conservation groups that said the fish needs the ban to have a chance at survival. The US imports an average of 120,000 of the fish every year, members of the groups said Wednesday. The species have declined in number by as much as 90 per cent since the 1990s because of exploitation in the aquarium trade, they .

Exports increased 2.1% to $256.2 billion. Goods exports shot up 3.1% to $174.3 billion. Crude oil exports rose $2.5 billion, boosting shipments of industrial supplies and materials

China's largest chipmaker reported revenue rose 42% to $1.9 billion in the second quarter, generally in line with expectations

Last quarter's drop in the US gross domestic product the broadest gauge of economic output does not likely signal the start of a recession.

The United States expanded export controls on Russia's and Belarus' access to everything on the US commerce control list

Oil prices rose to an eight-week high on Wednesday as U.S. crude exports plunged and on signs of a speedy economic recovery and upbeat forecasts for energy demand

Poonawalla had said earlier that US curbs were hampering scale-up of Novavax vaccine at Pune. Serum has collaborated with Novavax of US to make its vaccine here and supply to Covax at $3 a shot

BEIJING/SHANGHAI (Reuters) - Alibaba <9988.HK> and JD.com said the United States was the top seller of goods to China during the Singles' Day shopping extravaganza that generated about $116 billion in merchandise volume for the pair.

The latest EU announcement came after the trade ministers of the 27-member bloc met online earlier on Monday

The Trump administration continues to press India to make meaningful progress in relation to these ambitious goals, primarily through the US-India Trade Policy Forum (TPF)