Business

Trump’s Steel and Aluminum Tariffs Take Effect; EU and Canada Respond

Published

1 year ago

March 14, 2025

On Wednesday morning, US President Donald Trump implemented tariffs on steel and aluminum imports from all countries, prompting immediate retaliatory measures from the European Union and Canada. Trump reinstated a 25% tariff on steel and raised the aluminum rate to 25%, up from 15%.

Unlike previous instances, no countries are exempt from these tariffs.

Earlier this month, Trump imposed separate tariff increases on Canada, Mexico, and China as a response to issues such as illegal migration (excluding China) and the opioid crisis involving fentanyl. A further set of tariff increases is anticipated in April as part of Trump’s reciprocal taxation strategy.

The European Union announced that it plans to target $28 billion worth of US imports, roughly equivalent to the value of EU steel and aluminum exports affected by the new tariffs. This response will occur in two phases. The first phase involves the reintroduction of retaliatory tariffs initially announced during Trump’s first term. These had been suspended under President Joe Biden but will resume in April, along with new tariffs on products like boats, bourbon, and motorcycles. The second phase of tariffs is set to be implemented two weeks later.

Ursula von der Leyen, President of the European Commission, indicated that she has instructed her officials to restart trade discussions with US representatives. She emphasized the need to avoid burdening both economies with such tariffs amidst the current geopolitical and economic uncertainties.

Canada, the largest foreign supplier of steel and aluminum to the US, will enact retaliatory tariffs valued at approximately $29.8 billion Canadian dollars from Wednesday onward.

The White House has yet to respond to the EU’s tariff increases. However, Trump has previously threatened to impose even steeper tariffs in response to actions taken by trading partners.

Business

Overseas Loans by Indian Firms See Sharp Decline

Published

1 day ago

May 17, 2026

Namma Kudla

Business : Indian companies borrowed $5.43 billion from abroad in March, according to RBI data. This was 51% lower than March last year.

Experts said the weak rupee and high global interest rates made foreign loans less attractive for companies.

In the financial year 2025-26, India Inc raised nearly $43 billion through foreign borrowings. This was down from $61 billion in the previous year.

In March 2025, borrowings had crossed $11 billion due to large deals by companies like JSW Steel and Tata Semiconductor Manufacturing.

Companies are also avoiding overseas loans because hedging costs have become expensive during currency volatility.

The RBI reportedly discussed easing foreign borrowing rules and offering hedging support, but no final decision was taken.

Market experts said the ongoing West Asia conflict has increased uncertainty, making companies cautious about raising funds from abroad.

Business

Fuel Prices Hiked by Rs.3 per Litre across India

Published

3 days ago

May 15, 2026

Namma Kudla

New Delhi: Petrol and diesel prices have been increased by Rs.3 per litre across the country from today. Oil marketing companies revised the rates due to the rise in global crude oil prices.

After the hike, petrol price in Bengaluru has reached Rs.106.17 per litre, while diesel now costs Rs.94.10 per litre.

The increase comes amid fluctuations in international crude oil prices and tensions in West Asia, including the Iran conflict. The fall in the value of the Indian rupee against the US dollar has also increased import costs.

The fuel price hike is expected to affect transportation and daily essentials. Transport charges for goods may rise, leading to higher prices of vegetables, fruits, milk, and other items. Bus, auto, and taxi fares may also increase.

Earlier, fuel prices were reduced before the 2024 Lok Sabha elections. In 2022, the Centre had also cut excise duty to control inflation after the Covid pandemic.

Business

Gold Prices Rise in Mangaluru; Demand for Ornaments Remains Strong

Published

2 weeks ago

May 4, 2026

Namma Kudla

Mangaluru: Gold prices in the coastal city of Mangaluru have been reported at high levels today. The rate for 24 karat gold (99.9% purity) stands at Rs.14,962 per gram. The price for 22 karat gold (91.6% purity) is Rs.13,715 per gram. Meanwhile, 18 karat gold (75% purity) is being sold at Rs.11,222 per gram.

Mangaluru is well known for its deep cultural connection with gold. The city has a long tradition of buying and wearing gold ornaments. This tradition continues strongly even today.

Local jewellers say that demand for gold remains steady despite high prices. Many people still prefer to invest in gold for safety and long-term value. Gold is also an important part of weddings and festivals in the region.

Apart from its love for seafood, Mangaluru is also famous for its gold market. The gold trade in the city has a long history and continues to grow.

Buyers are advised to check the latest rates before making a purchase. They can also use a gold rate calculator to get exact pricing based on weight and purity.

Experts say that gold prices may change depending on global market trends. Customers should stay updated and make careful decisions while buying gold.