US Tariff News

Jaguar Land Rover Stops US-Bound Shipments After Trump’s 25% Tariff on Vehicles

Jaguar Land Rover (JLR) has announced an immediate pause in shipments of its UK-manufactured vehicles to the United States, citing the need to reassess operations following President Donald Trump’s new 25% import tariff on cars and light trucks.

The British luxury carmaker, owned by India’s Tata Motors, confirmed the move on Saturday after a report by The Times revealed the temporary suspension. The halt is expected to last through April. “As we work to address the new trading terms with our business partners, we are taking some short-term actions, including a shipment pause in April, as we develop our mid- to longer-term plans,” JLR said in a statement.

The decision comes just days after the tariff took effect on April 3, sending shockwaves across global automotive supply chains.

The U.S. is JLR’s second-largest market after the EU, accounting for nearly a quarter of the company’s total sales. The automaker sells around 400,000 vehicles annually, including popular models such as the Range Rover Sport and Defender.

The impact of the tariff is expected to ripple across the UK auto industry, which employs over 200,000 people and counts the U.S. as a key export destination, according to the Society of Motor Manufacturers and Traders (SMMT).

The Times reported that JLR has sufficient inventory already in the U.S. to cushion short-term sales, as these vehicles will not be subject to the new tariffs.

Meanwhile, the British government is intensifying efforts to negotiate a trade deal with Washington amid rising concerns over the economic fallout from the escalating global tariff war.

Wary India Alerts Authorities of Possible Dumping of Cheaper Chinese Goods Post-US Tariff Surge

India has intensified its monitoring of imports from China to guard against a potential flood of cheap goods into its market, following the United States’ dramatic tariff escalation on Chinese exports.

The U.S. hike—part of a sweeping trade overhaul unveiled by former President Donald Trump—has raised tariffs on Chinese goods by an additional 34 per cent, taking the total duty to 54 per cent. The move has significantly narrowed China’s access to the world’s largest consumer market, prompting concerns that surplus goods may be diverted to other major economies, including India, at dumped prices.

Commerce Secretary Sunil Barthwal has reportedly convened several high-level meetings to assess the situation. “We are actively engaging with industry stakeholders to get a comprehensive understanding of potential risks and are developing a strategic response,” a senior government official told IANS.

The Commerce Ministry has already been vigilant in sectors such as steel, where earlier U.S. tariffs had led to a surge in Chinese exports to other countries. Officials have now expanded the scope of surveillance to electronics, textiles, chemicals, and other sensitive sectors that could be vulnerable to dumping.

China’s Potential Redirection of Exports

With Chinese exporters now facing steep barriers in the U.S., Indian authorities fear that Beijing may attempt to offload its excess inventory at artificially low prices to maintain factory output—an act considered dumping under global trade norms.

“This is a classic case where trade diversion could lead to market distortions. We must ensure that Chinese overcapacity does not destabilize Indian industries,” the official said.

China, meanwhile, has retaliated against the U.S. tariffs with countermeasures including 34 per cent duties on all American goods, restrictions on rare earth metal exports, and sanctions on select U.S. defence-related companies.

India’s own exports to the U.S. account for only 4 per cent of its GDP, and the new 27 per cent U.S. tariff on Indian goods is expected to have a “limited impact,” according to an SBI Research report. In fact, the relatively lower tariff rate on Indian goods—compared to 34 per cent on China, 36 per cent on Thailand, and 46 per cent on Vietnam—may boost India’s long-term competitiveness in global markets.

The report noted that in electronics, where China now faces U.S. tariffs ranging from 54 per cent to 79 per cent, India could emerge as a preferred export partner. India shipped $9 billion worth of electronics to the U.S. between April and December in FY25, making it the country’s top export sector to the U.S.

However, short-term challenges remain, especially in textiles, where higher tariffs on competitors like Bangladesh, China, and Vietnam could initially lead to demand compression. India exported $7 billion worth of textiles to the U.S. in the same period, and while the sector may experience a temporary setback, experts believe it stands to gain in the medium to long term.

As global trade dynamics shift rapidly, India’s proactive stance underscores the need to protect domestic industries from unfair competition. Government agencies are expected to increase customs checks, evaluate import pricing patterns, and, if needed, initiate anti-dumping investigations.

Industry bodies have welcomed the government’s vigilance, emphasizing the importance of balancing open trade with protective mechanisms. “We support global trade but not at the cost of India’s manufacturing ecosystem,” said a representative from a leading industry federation.

As China recalibrates its export strategies under growing global pressure, India remains on high alert—not just to shield its markets, but potentially to seize emerging trade opportunities.

Consumers Rush to Buy Laptops As US Begins Collecting Trump’s 10% Tariff

US customs authorities began enforcing a sweeping new 10% tariff on imports from dozens of countries early Saturday, marking a seismic shift in global trade policy and intensifying fears of a worldwide economic slowdown.

The levy, announced by former President Donald Trump earlier this week, took effect at 12:01 a.m. ET (0401 GMT) at all U.S. seaports, airports, and customs facilities. The baseline tariff is the centerpiece of Trump’s unilateral overhaul of post-World War Two trade norms, which were built on mutual agreements and negotiated tariffs.

“This is the single biggest trade action of our lifetime,” said Kelly Ann Shaw, a trade lawyer at Hogan Lovells and former White House adviser. Speaking at a Brookings Institution event Thursday, Shaw predicted that the new tariff regime will evolve as countries seek negotiations. “But this is huge. This is a pretty seismic and significant shift in the way that we trade with every country on earth,” she added.

The announcement sent shockwaves through global financial markets, wiping out $5 trillion in market value from S&P 500 companies by Friday’s close—a record two-day loss. The Dow Jones and Nasdaq also suffered steep declines, while commodity prices plunged and investors poured into safe-haven government bonds.

Wall Street’s rout is the steepest since the March 2020 pandemic-driven selloff and has reignited fears of a looming global recession.

Who’s Hit — and Who’s Not

Among the first countries affected are Australia, Britain, Colombia, Argentina, Egypt, and Saudi Arabia, which now face the immediate 10% tariff. A U.S. Customs and Border Protection bulletin issued to shippers initially caused confusion, suggesting no grace period. However, a revised bulletin confirmed a 51-day grace period for goods already in transit before the Saturday deadline. These shipments must arrive in the U.S. by May 27 to avoid the new duty.

The policy includes significant exemptions. Goods such as crude oil, pharmaceuticals, semiconductors, petroleum products, uranium, titanium, and lumber—representing roughly $645 billion in 2024 imports—are excluded from the tariff. Many of these sectors, however, remain under review for possible national security-related tariffs.

Products already covered by separate national security duties—such as steel, aluminum, automobiles, trucks, and auto parts—are also excluded.

Higher Reciprocal Tariffs Coming Next

The 10% baseline tariff is only the first phase. Beginning Wednesday, the administration will implement a set of “reciprocal tariffs” ranging from 11% to 50%, targeting countries based on the duties they impose on U.S. goods.

Under the new schedule:

European Union imports will face a 20% tariff.
Chinese goods will be hit with an additional 34% duty, raising total U.S. tariffs on China to 54%.
Vietnam, which benefited from supply chain shifts away from China during Trump’s first term, will face a 46% tariff. Hanoi has agreed to open discussions with Washington following the announcement.
Canada and Mexico are exempt from the new duties due to existing 25% tariffs tied to the U.S. fentanyl crisis for non-compliant goods under the USMCA rules of origin.

Trump’s move has sparked both praise from protectionist trade advocates and criticism from economists who warn of inflationary pressures and disrupted global supply chains. Analysts say the policy could act as a de facto tax on U.S. consumers and businesses, compounding economic risks at a time of fragile global recovery.

As the U.S. enforces its most aggressive trade action in decades, countries around the world are expected to respond, potentially setting off a new era of retaliatory tariffs and trade realignment.

Trump’s 10% Tariff On All Imports Sparks Global Market Rout, Consumer Panic

President Donald Trump’s sweeping 10% tariff on all imports has sent shockwaves through the global economy, rattling financial markets, disrupting trade norms, and sparking consumer panic across the United States.

The tariff—applied unilaterally at U.S. seaports, airports, and customs facilities—marks a dramatic departure from the decades-old framework of negotiated trade agreements. Kelly Ann Shaw, a trade attorney at Hogan Lovells and former White House trade adviser, called it “the single biggest trade action of our lifetime.”

The announcement has wreaked havoc on global financial markets. In just two days, more than $5 trillion in value was wiped off the S&P 500, which plunged 10%, marking its steepest two-day drop since the COVID-19 crash in March 2020. The Dow Jones Industrial Average sank over 2,000 points, while the Nasdaq slipped into bear market territory.

The fallout is already global. The initial tariff wave has affected imports from a wide range of nations—including Australia, the UK, Colombia, Argentina, Egypt, and Saudi Arabia—with higher duties on goods from 57 major trading partners set to kick in next week.

“This is effectively a massive tax hike on American consumers and businesses,” said Michael Strain, director of Economic Policy Studies at the American Enterprise Institute. “We estimate it will cost households and businesses between $400–500 billion this year alone.”

Consumer Rush to Beat Rising Prices

The announcement has triggered a surge in consumer spending as Americans rush to buy goods ahead of anticipated price hikes. From avocados to automobiles, electronics to everyday essentials, retailers are reporting stockpiling behavior.

Car dealerships have seen a notable uptick in activity, particularly for foreign-assembled vehicles, while demand for laptops, smartphones, and home appliances has spiked. Retailers are bracing for potential shortages as supply chains adjust to the sudden policy shift.

Adding to the domestic shake-up, the Trump administration has unveiled new immigration policy measures, placing added scrutiny on green card applicants. The centerpiece is an updated Form I-485, which now requires extensive financial disclosures and in-person interviews for marriage-based applications.

The revised form also reintroduces the term “alien” in official usage, drawing criticism from immigration advocates. According to Newsweek, use of the updated form became mandatory as of January 20. Critics say the changes could disproportionately burden low-income applicants and complicate an already lengthy process.

Trump’s tariff marks a sharp reversal from the post-World War II era of multilateral trade pacts. Economists warn the move could fragment the global trade system and set off retaliatory measures, with uncertain long-term consequences for global growth.

As markets tumble, consumers scramble, and policy experts warn of economic strain, the world is watching how the U.S. will navigate the fallout—and how other countries will respond.

“This is a defining moment for global trade,” said Shaw. “The aftershocks of this action will be felt for years.”

Warren Buffett Denies Ever Supporting Trump’s Tariffs As Wall Street Suffers $2.5 Billion Loss

Berkshire Hathaway denies Warren Buffett endorsed President Trump’s economic policies, as suggested in a viral video.
The false endorsement claims surfaced after Trump’s tariff announcement led to a $2.5 trillion loss on Wall Street.
Despite market turmoil, Buffett’s year-to-date profit remains at $23.4 billion.

In a strong rebuttal, American multinational Berkshire Hathaway has categorically refuted the authenticity of comments attributed to its Chairman, Warren Buffett, that have been circulating on various social media platforms.

These comments, allegedly made by Buffett, were in relation to the trade tariffs of the United States. The rumors gained momentum after US President Donald Trump’s account on his social media platform, Truth Social, shared a video suggesting that Buffett endorsed the President’s economic policies.

The video suggested that Buffett, the 94-year-old billionaire, lauded President Trump for making the best economic moves seen in more than 50 years in America. The claims about Buffett’s endorsement first appeared on Instagram on March 13 and went viral after Trump announced a series of tariffs. However, Berkshire Hathaway has firmly stated that all such reports are false.

Buffett has been at the helm of Berkshire since 1965. In October of the previous year, the company had clarified that Buffett would not endorse political candidates or investment products. This clarification was issued in response to numerous fraudulent claims suggesting his support.

Impact of Trump’s Tariff Announcement

The false endorsement claims have come at a time when Trump’s tariff announcement on Liberation Day, April 2, has sent shockwaves across global markets, leading to a loss of $2.5 trillion in wealth on Wall Street. This has affected many billionaires, including SpaceX and Tesla CEO Elon Musk, Amazon founder Jeff Bezos, and Meta chief Mark Zuckerberg, who saw their combined wealth plunge.

However, Buffett seems to have weathered the storm. According to the Bloomberg Billionaires Index, Buffett lost $2.57 billion but remains in the green. His year-to-date profit still stands at $23.4 billion.

Meanwhile, Trump has reassured Americans on Truth Social that the US economy would emerge “stronger, bigger, better and more resilient than ever before”. In a separate post, he added that “markets will boom”.

The Role of Social Media in Spreading Misinformation

This incident brings to mind similar instances in the past where public figures have been falsely attributed with statements or endorsements. The advent of social media and the ease with which information can be shared and spread has made it easier for such false claims to gain traction. It underscores the importance of verifying information from reliable sources before accepting it as truth.

Economists Warn of Recession as Trump’s Trade Policies Take Hold

April 5, 2025 — Leading global economists and brokerages are warning that the U.S. economy is on the brink of a recession, triggered by the sweeping reciprocal tariffs announced by former President Donald Trump. As the trade war escalates, the economic outlook for the world’s largest economy has darkened considerably.

In a sobering revision, JPMorgan Chase & Co. now forecasts U.S. real GDP to shrink by 0.3% for the year (measured Q4/Q4), slashing its previous projection of 1.3% growth. Michael Feroli, the bank’s chief U.S. economist, said the contraction is expected to weaken hiring and push the unemployment rate to 5.3%, up from its current 4.2%.

“We now expect real GDP to contract under the weight of the tariffs,” Feroli wrote in a note to clients. “If realised, our stagflationary forecast would present a dilemma to Fed policymakers.” Feroli expects the U.S. Federal Reserve to respond by initiating a series of rate cuts starting in June, continuing through each meeting until January 2026.

Other global banks are also slashing their outlooks. Citigroup has trimmed its growth forecast for the year to 0.1%, while UBS reduced its projection to 0.4%.

Jonathan Pingle, UBS’s Chief U.S. Economist, anticipates a steep drop in imports—over 20%—over the next few quarters. “This will push imports as a share of GDP back to pre-1986 levels,” Pingle noted. “The forcefulness of the trade policy action implies substantial macroeconomic adjustment for a $30 trillion economy.”

Markets have already begun to react sharply. In a brutal two-day selloff, the Dow Jones Industrial Average plunged over 2,000 points, the S&P 500 recorded its worst decline since the pandemic-led crash of March 2020, and the Nasdaq slipped into bear market territory, down more than 20% from its recent highs.

Despite the growing alarm among economists, Federal Reserve Chair Jerome Powell struck a cautious tone Friday, saying “it feels like we don’t need to be in a hurry” regarding rate adjustments. His comments followed March’s jobs report, which showed solid hiring but a slight rise in the unemployment rate to 4.2%.

The Trump administration’s tariff strategy, aimed at mirroring duties imposed by trading partners, is part of a broader effort to reset global trade terms. But critics warn the policy risks backfiring, shrinking U.S. trade volumes and weakening consumer spending just as inflation pressures persist.

With Wall Street reeling, central bankers divided, and recession risks rising, all eyes will now be on the Fed’s June meeting—and how deep the impact of the tariffs will go.