Crisil Ratings, which rates over 7,300 entities, conducted a stress test on the likely impact of the West Asia crisis on Indian companies, which revealed that 23 of the 30 sectors with exposure to the Gulf region will be resilient to the pressure.
Global stocks, which had rallied on the back of the artificial intelligence boom and falling interest rates, have lost about $14 trillion in value since the conflict began, as risk appetite evaporated
The agency has previously told a judge on the US Court of International Trade that the US is working to have the first phase of the new refund system ready by mid-April.
New Delhi remains engaged with the US and is studying the recent tariff developments, the government said
The agreement had initially been expected to be signed in March, but the US court’s ruling rendered earlier reciprocal tariffs invalid, prompting the Trump administration to work on a new tariff framework for global trade.
Targeting the US Supreme Court, Trump added: "They are hurting our Country, and will continue to do so."
The move comes at a time when the US Supreme Court has ruled against the Trump tariffs. After that, US President Donald Trump had stated that the US has other alternatives to impose such levies.
It’s unclear if the US government has the power to mandate such a move
Section 301 empowers the USTR to examine whether foreign industrial policies, such as subsidies, state-owned enterprise activity, or overcapacity are unreasonable or discriminatory.
Section 301 empowers the USTR to examine whether foreign industrial policies, such as subsidies, state-owned enterprise activity, or overcapacity are unreasonable or discriminatory.
US officials have often pointed to relatively high tariffs on certain imports, requirements related to local sourcing and data localisation, regulations affecting technology and digital services, and price controls in sectors such as pharmaceuticals.
Among the issues that will be investigated are taxes on digital services and alleged currency manipulation
Plans for reciprocal visits between the two leaders were first signalled after they met in person in South Korea last year
Commerce and Industry Minister Piyush Goyal said that India-US relationship is strong, multi-dimensional, and not only about trade as there is a huge technology overlay on it.
"Because these tariffs are unlawful, this court should declare that they are not in force" and order that refunds be made, the group of 24 states said in its filing to the US Court of International Trade.
The Supreme Court found those tariffs to be unconstitutional under the emergency powers law, including the sweeping ‘reciprocal’ tariffs he levied on nearly every other country.
Scott Bessent said the effort to rebuild Trump's tariff program under these authorities would bring U.S. duty rates back to their prior levels within five months.
The Supreme Court last month delivered a stinging rebuke of Trump's signature economic policy by striking down his global tariffs -- opening the door to a complicated legal fight as companies sue for their money back.
The government wants to wait as long as four months before reviving litigation before the US Court of International Trade on the refund question
The comments came a week after the Supreme Court struck down a large swath of Trump’s tariffs that he had imposed under a law meant for national emergencies, handing the Republican president a significant legal setback.
The interaction comes at a sensitive moment for bilateral trade ties following the US Supreme Court’s decision to strike down sweeping tariffs imposed earlier by President Donald Trump.
The meeting holds immense importance as both countries are in the process of finalising the legal text for the first phase of a bilateral trade agreement.
On Wednesday, the US imposed preliminary duties of 126% on solar imports from India, after determining the South Asian country unfairly subsidised manufacturing
The mild recovery in solar stocks today follows clearer interpretation of the US Commerce Department’s decision to impose preliminary countervailing duties of about 126 percent. Brokerages played down the earnings impact and reiterated largely positive views on frontline names such as Waaree Energies and Premier Energies.
The IMF said Wednesday that Washington should work constructively with partners "to address concerns over unfair trade practices and agree on a coordinated reduction in trade restrictions.