The US Court of International Trade struck down America’s ‘reciprocal’ tariffs for exceeding the president’s authority. As the legal battle over their validity thickens, could the rule of law in the US come to the global economy’s rescue? Source link
India’s government seems set to drop its 6% equalization levy on online advertising services rendered to Indian advertisers by offshore digital businesses. This so-called ‘Google tax’—since it impacted this US-based web-search company perhaps the most, though also others like Meta and X—was introduced in 2016, but is abruptly being withdrawn just days before US President…
Chinese electric vehicle (EV) maker BYD, short for Build Your Dreams, has eclipsed Elon Musk’s Tesla in annual revenue. It reported a topline of $107.2 billion for 2024, exceeding Tesla’s $97.7 billion. BYD has logged a 29% revenue jump, alongside a 34% rise in net profit to $5.6 billion last year. Also Read: Tesla’s slump:…
New Delhi: India and the US plan to negotiate a mutually beneficial multi-sector Bilateral Trade Agreement (BTA) aimed at increasing market access, reducing tariff and non-tariff barriers, and enhancing supply chain integration, minister of state for commerce Jitin Prasada told the Lok Sabha on Tuesday. The initiative is part of efforts to strengthen economic ties…
The first China shock was unleashed in the first decade of this century, following China’s entry to the World Trade Organization in 2001. The initial surge in Chinese exports was based on low wage costs as well as an undervalued currency. That is why many believed the shock would eventually dissipate as wage costs increased…
Now that a jobs crisis is weakening its hold on power in India, how serious is the BJP government about reviving Indian factories? We will know in the budget, which offers it a chance to remedy a disastrous lurch toward protectionism. Without fixing that folly, the country could miss an opportunity to join key global…
