Brief by Shorts91NewsDesk / 03:25am on 09 Mar 2025,Sunday Business
India and the United States are actively negotiating a bilateral trade agreement, focusing on tariff reductions and market access. U.S. President Donald Trump recently stated that India has agreed to "cut their tariffs way down," criticizing the country's previous "massive" and "restrictive" tariffs that hindered American businesses. In response, Indian officials have acknowledged the ongoing discussions but emphasized that it is "premature" to disclose specific details, citing the need to balance mutual interests and sensitivities. Both nations aim to enhance economic ties through these negotiations, seeking a comprehensive trade pact that addresses various sectors and promotes mutual growth.
Brief by Shorts91NewsDesk / 05:33am on 08 Mar 2025,Saturday Business
China has announced tariffs on over $2.6 billion worth of Canadian agricultural goods, including rapeseed oil, aquatic products, and pork, in retaliation for Canada's October tariffs on Chinese electric vehicles and steel. Effective March 20, the tariffs include a 100% duty on rapeseed products and a 25% tariff on other items. While canola exports were excluded, signaling a potential for negotiations, analysts suggest that this move reflects China's frustration with Canada's alignment with U.S. trade policies. The dispute highlights ongoing tensions in global trade relationships.
Brief by Shorts91 Newsdesk / 11:59am on 07 Mar 2025,Friday Business
Here & Now 365 won the "Campaign of the Year" award at the 'GG2 Leadership & Diversity Awards 2025' in London. The awards celebrate the achievements of Britain’s ethnic minorities. The agency was recognised for its Vatika #RootForMe campaign. The campaign used comedy to address important social issues. It focused on the gender pay gap, racial and religious bias, and inclusion for women of colour. Comedians Shazia Mirza and Sikisa led the campaign. It combined humour with real facts to spark conversations. The campaign included live performances, social media engagement, and large-scale outdoor ads. It was displayed in Times Square, NYC, and the London Tube. Founder Manish Tiwari said, “This campaign was about real change. We are proud to receive this award.” Here & Now 365 had also received a Special Commendation for the campaign at the Marketing Week Awards 2024. The agency continues to create impactful campaigns that promote diversity and inclusion.
Brief by Shorts91NewsDesk / 07:46am on 07 Mar 2025,Friday Business
President Donald Trump's executive order to establish a "Strategic Bitcoin Reserve" and a "Digital Asset Stockpile" has led to a significant downturn in the cryptocurrency market. Bitcoin's value dropped by up to 6%, reaching a low of $84,900 before stabilizing around $87,700. The order proposes that these reserves be funded through assets forfeited in criminal or civil proceedings, aiming to avoid taxpayer expense. Critics, including tech entrepreneur Shayan Salehi and Tolou Capital Management founder Spencer Hakimian, expressed disappointment over the lack of direct government investment in Bitcoin, labeling the plan as "underwhelming." The U.S. government currently holds an estimated 200,000 Bitcoin from such forfeitures.
Brief by Shorts91NewsDesk / 05:47am on 07 Mar 2025,Friday Business
U.S. President Donald Trump has temporarily suspended the 25% tariffs imposed earlier this week on most goods from Canada and Mexico, granting a reprieve until April 2. This decision aims to alleviate market instability and concerns over inflation and economic growth. The exemptions cover products compliant with the United States-Mexico-Canada Agreement (USMCA), reflecting the administration's acknowledgment of efforts by both nations to address issues like fentanyl trafficking. In response, Canada has postponed a planned second wave of retaliatory tariffs on $125 billion worth of U.S. products. Discussions among the three countries continue as they navigate the complexities of the current trade environment.
Brief by Shorts91NewsDesk / 04:47am on 07 Mar 2025,Friday Business
U.S. President Donald Trump has labeled India a "very high tariff nation," criticizing its substantial levies on American goods. He announced that starting April 2, the U.S. will implement reciprocal tariffs on countries imposing high duties on U.S. products. Trump highlighted that while nations like India and China impose tariffs ranging from 150% to 200% on American goods, the U.S. often charges them nothing in return. He also pointed out that Canada imposes a 250% tariff on U.S. milk products. This move aims to address what Trump describes as long-standing trade imbalances, asserting that the new tariffs will be a "big game changer" for the U.S.
Brief by Shorts91NewsDesk / 04:41am on 07 Mar 2025,Friday Business
Finance Minister Nirmala Sitharaman acknowledged that impending U.S. tariffs could impact India. She noted that Commerce Minister Piyush Goyal is currently in the U.S., engaging with officials, including the United States Trade Representative, to safeguard India's export interests. These discussions aim to address the potential repercussions of President Donald Trump's announcement of reciprocal tariffs set to commence on April 2 against countries imposing high taxes on U.S. products. The U.S. strategy seeks to counter unfair trade practices and encourage foreign nations to reduce or eliminate tariffs on U.S. goods or to establish manufacturing operations within the U.S., thereby boosting its economic growth.
Brief by Shorts91 Newsdesk / 05:23pm on 06 Mar 2025,Thursday Business
U.S. President Donald Trump announced that Mexico will not be required to pay tariffs on goods covered under the United States-Mexico-Canada Agreement (USMCA) until April 2. The decision follows discussions with Mexican President Claudia Sheinbaum. "After speaking with President Sheinbaum, I have agreed that Mexico will not be required to pay tariffs on anything under the USMCA," Trump posted on Truth Social. The announcement comes after his administration imposed sweeping tariffs on Mexican and Canadian imports, sparking market volatility. The temporary exemption aims to ease trade tensions while negotiations continue.
Brief by Shorts91 Newsdesk / 05:11pm on 06 Mar 2025,Thursday Business
U.S. stocks tumbled Thursday as Trump’s tariffs on Mexico, Canada, and China rattled markets. The Dow Jones fell 150 points (0.35%), S&P 500 lost 0.7%, and Nasdaq dropped 0.9%. Ford, GM, and Stellantis saw declines of 1.5%, 3%, and 2%, respectively, while Tesla plunged 4.5%. Despite Trump’s one-month reprieve for U.S. automakers, concerns over supply chains and broader tariffs persist. The American Automotive Policy Council praised the exemption, but uncertainty looms. The tariffs—25% on Mexico and Canada, 10% on China—continue to impact industries and stock performance.
Brief by Shorts91 Newsdesk / 12:30pm on 06 Mar 2025,Thursday Business
Bank of England Governor Andrew Bailey warned that US tariffs under Donald Trump could leave UK consumers with less money, posing "substantial risks" to both the UK and global economies. Speaking to MPs, Bailey emphasized the need for trade disputes to be resolved globally. Monetary policy experts highlighted that tariffs on UK exports would hurt businesses, slow growth, and disrupt supply chains. Bailey also warned of economic instability if the US withdrew from global financial institutions like the International Monetary Fund (IMF) and World Bank. Experts predict the tariffs will likely bring more economic harm than benefits worldwide.