The new duties, announced under Section 338 of the Tariff Act of 1930, will apply to hundreds of Canadian products in 30 days, with exemptions for energy, potash, critical minerals and several other categories.
For much of the past year, economists have been waiting for the American economy to stumble. It has been hit by tariffs, labour disruptions, geopolitical tensions and renewed inflationary pressures.
Delhi’s cheap electricity was never truly cheap. It was deferred. For years, power tariffs remained largely unchanged even as the real cost of generating, transmitting, and distributing electricity steadily increased.
Fresh US data shows a narrowing trade gap under new policies, but India continues to rank among the largest contributors to America’s goods trade deficit.
Amid concerns over a proposed hike in power tariffs, the Uttarakhand Electricity Regulatory Commission (UERC) has declined the proposal of the state power department, bringing relief to consumers.
Washington has been ramping up pressure on nations maintaining energy trade with Russia, arguing that revenues from Russian oil are financing Vladimir Putin’s military operations.
Responding to US pressure on India to halt Russian oil purchases, Russian Foreign Minister Sergei Lavrov dismissed Washington’s tariff narrative, asserting that such tactics would fail. He stressed that “ancient civilisations” like India and China would not bow to external warnings.
The Chinese Foreign Minister also called for the promotion of multilateralism, strengthening multilateral mechanisms, and jointly safeguarding the purposes and principles of the UN Charter.
The European Union has rejected US President Donald Trump’s call for 100% tariffs on India and China over Russian oil imports. The EU is simultaneously advancing trade talks with India, aiming to finalize a deal by year-end.
Let’s turn to the international stage. An independent-minded foreign government, however determined an adversary or stalwart an ally, invites tariffs.
