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India's decision to cut taxes on solar and wind equipment will lower costs for new plants and pressure existing project developers to reduce tariffs, accelerating the country's shift to renewable energy, industry experts said.
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President Donald Trump says he's not looking at lowering tariffs on India, one week after the US doubled levies on the country's imports to 50% as punishment for its Russian oil imports. “India has, you have to understand, for many years, it was a one-sided relationship,” he said in the Oval Office.
U.S. President Donald Trump on Monday called trade ties with India "a totally one sided disaster!" "They [India] have now offered to cut their Tariffs to nothing, but it's getting late.
Santanu Sengupta, Chief India Economist at Goldman Sachs, says India's fiscal deficit target will be hard to meet as the government taps into income tax relief and GST reductions to offset the weight of the U.S tariffs. India's GDP grew by 7.8% in the April-June quarter, driven by consumption and government outlays.
Michael Froman, Council on Foreign Relations president and former U.S. Trade Representative, joins 'Squawk Box' to discuss Indian Prime Minister Narendra Modi's upcoming meeting with Chinese President Xi Jinping this weekend, state of U.S.-India relations, Nvidia chip sales to China, the race for global chip dominance, and more.
Kevin Hincks says "70 names" will move alongside Nvidia (NVDA) once it reports earnings after the close. All eyes will be on the leader of Wall Street after the company doubled since April's lows.
President Donald Trump imposed a crushing 50% tariff on some Indian goods — the highest in Asia — to punish the country for buying Russian oil, upending a decades-long push by Washington to forge closer ties with New Delhi. It doubles the existing 25% duty on Indian exports.
India saved billions of dollars by stepping up imports of discounted Russian oil in the wake of the war in Ukraine, but punitive tariffs imposed by the U.S. that came into effect on Wednesday will quickly undo the gains, with no easy solutions in sight.
Oil prices were little changed on Wednesday, after falling in the previous session, as the market awaits massive new U.S. tariffs on India, the world's third-largest crude consumer, in response to its purchases of Russian supply.