A tariff is a tax imposed by a government on imported or exported goods. It serves multiple purposes, including generating revenue, protecting domestic industries from foreign competition, and regulating trade. Tariffs can be ad valorem (a percentage of the good's value) or specific (a fixed amount per unit).
Governments use tariffs as a trade policy tool to make imported goods more expensive, encouraging consumers to buy locally produced alternatives. However, high tariffs can lead to trade wars, higher prices for consumers, and inefficiencies in domestic industries.
Free trade agreements and organizations like the World Trade Organization (WTO) aim to reduce tariff barriers to promote global trade. However, countries still use tariffs strategically, especially in sectors like agriculture, steel, and technology, to safeguard national interests.
US President Donald Trump said on Monday that India and the US have agreed to a trade deal under which Washington will bring down reciprocal tariffs on Indian goods to 18 per cent from the current 25 per cent.
US President Donald Trump on Monday announced that he would reduce reciprocal tariffs from 25 per cent to 18 per cent.
In an exclusive interview with India Today, US Ambassador to India Sergio Gor confirmed the India-US trade deal, stating the final tariff number will be 18 and whether that takes an hour or two days.
US President Donald Trump has shared the India Today Magazine cover featuring himself and Prime Minister Narendra Modi as 'Newsmakers of the Year 2025' on his Truth Social platform.
This special News Today edition covers Pakistan's decision to boycott its T20 World Cup match against India following Bangladesh's withdrawal. The program features analysis by Sunil Gavaskar regarding potential ICC sanctions.
On this Special Report, the focus is on the presentation of the Union Budget 2026 as Finance Minister Nirmala Sitharaman heads to Parliament. The transcript captures the live movement of the Finance Minister's convoy from Rashtrapati Bhavan to the new Parliament building after seeking formal permission from the President of India. A key moment highlighted is when the reporter notes, 'This is the convoy of Finance Minister Nirmala Sitharaman which is now heading towards the Parliament' for the crucial Cabinet meeting. The programme discusses the evolution of budget presentations from 1985 to the current televised era, noting how finance ministers have become more conscious of a national audience. Analysts on the show deliberate on the shift from tax-heavy budgets to those focused on tariffs and infrastructure. The discussion further explores the government's significant investments in roads and power since 2020, questioning the remaining fiscal headroom for continued infrastructural spending as the nation awaits the official tabling of the budget at 11 am.
On this special broadcast, Rajdeep Sardesai discusses the historic significance of the Union Budget 2026 as Finance Minister Nirmala Sitharaman prepares to present her ninth consecutive budget, surpassing Morarji Desai's consecutive record. Sardesai notes that this occurs 'at a time of uncertainty and global headwinds.' Business Today TV Head Siddharth Zarabi joins the discussion, highlighting a potential 'fundamental change' in the budget's structure, specifically regarding Part B, which may shift toward a long-term vision for 'Viksit Bharat' rather than just taxation changes. The panel, including Shailender Bhatnagar and Abha Bakaya, analyzes market expectations amid lackluster trade and global political shifts. The program also announces the National Stock Exchange as the new prime sponsor for the network's market shows. The discussion focuses on whether the government will provide a 'major reform push' to incentivize private CAPEX and boost consumption to maintain India's robust growth trajectory in a challenging global environment.
On this India Today special report, Maria Shakil provides live coverage as Finance Minister Nirmala Sitharaman prepares to present her ninth Union Budget. Maria Shakil notes that 'This budget is therefore not just about numbers, it is about direction,' highlighting the critical choice between CAPEX-led growth and consumption relief. The bulletin details a historic shift where the Finance Minister will present the budget on a Sunday and place unprecedented emphasis on 'Part B' of her speech, focusing on significant custom reforms and deregulation. With the Economic Survey projecting growth between 6.5 to 7 percent, the broadcast explores whether the government will maintain fiscal discipline amidst political pressure from five poll-bound states, including West Bengal and Tamil Nadu. Reporter Karishma Asudani joins from the new Finance Ministry venue at Kartavya Bhavan, suggesting that the 2025-2026 fiscal year will prioritize simplifying import tariffs and strengthening international trade deals to accelerate India's journey toward the 'Viksit Bharat 2047' goal despite global uncertainties and a record low rupee.
On this Special Report, the focus is on Finance Minister Nirmala Sitharaman as she prepares to present her ninth straight Union Budget, notably the first to be held on a Sunday. The budget aims to lay down a roadmap for 'Viksit Bharat' through tax reforms and a significant growth push amidst global uncertainties and Trump tariffs. Union Minister Piyush Goyal, in an exclusive conversation with India Today regarding the India-European Union trade agreement, stated, 'India has the potential and 140 crore Indians today have made it a collective vision to make India developed and prosperous nation by 2047.' The programme highlights that while government revenues and support for MSMEs remain challenges, capital expenditure on infrastructure and sops for poll-bound states are expected to be the centerpiece. The discussion explores the holistic vision of a developed India and the potential outcomes of the trade deal with the EU.
On this India Today special report, the focus is on India's Economic Survey and the strategic debate surrounding rupee depreciation. Chief India Economist at J.P. Morgan, Sajid Chinoy, argues that a 'gradually non-disruptive depreciation is actually a healthy thing' to protect India's export competitiveness against ASEAN competitors who face lower US tariffs. The discussion highlights that while India's current account deficit remains sustainable, the drying up of capital flows necessitates a policy that avoids burning forex reserves at an unsustainable pace. Chinoy explains that a weaker rupee acts as a buffer against cheap Chinese imports and supports domestic manufacturing. Conversely, Sonal Varma of Nomura notes that the cost-benefit analysis is shifting as depreciation begins to feed into further currency weakness and higher costs for intermediate imports. The panel examines the trade-offs in policymaking as India prepares for the FY27 budget amidst global geopolitical shifts and the impact of US trade policies.
Ahead of Finance Minister Nirmala Sitharaman’s ninth Union Budget, this News Today special edition brings together leading economists to discuss India’s economic priorities amid global uncertainty.
On this special report, Minister Hudson discusses the strengthening of India-Canada trade relations amidst a changing global order. Addressing concerns over the 'weaponization of tariffs' and energy security, the Minister emphasizes Canada's commitment to multilateralism and free trade. A significant highlight of the discussion is Canada's willingness to support India's ambitious nuclear energy targets. Minister Hudson states, 'Our commitment to India is we are happy to supply uranium for peaceful purposes to any facilities that continue to abide by the International Atomic Energy Agency's oversight rules.' The dialogue also covers the potential for a comprehensive free trade agreement, with both nations looking to move beyond traditional energy sectors into critical minerals and renewable expertise. Minister Hudson reiterates that Canada views India as a like-minded partner and stresses that Canada will never use its natural resources as a tool for political coercion, contrasting its approach with other global powers.
In this exclusive interview with India Today Global, Minister Hodgson discusses the evolving geopolitical landscape and the strengthening of India-Canada relations. Addressing concerns over American trade pressure, the Minister asserts that 'Canada honors its trade agreements' and emphasizes the importance of market diversification. Hodgson highlights that Canada is looking at increased engagement with India and China to reduce singular exposure, comparing it to a business owner seeking multiple customers. The discussion also covers global energy security, where Hodgson positions Canada as a stable and secure alternative supplier for India, bypassing volatile regions like the Strait of Hormuz. Furthermore, the Minister reaffirms Canada's commitment to national sovereignty and the principle that borders cannot be changed by force, as established in international charters. The programme explores how Canada is navigating unilateral tariff coercion and the shift away from multilateralism while seeking deeper economic integration with India to ensure mutual growth and stability in a changing world order.
In this exclusive interview, Tim Hodgson, Canada’s Minister for Energy and Natural Resources, discusses the strengthening of bilateral ties between India and Canada following a period of diplomatic hiatus. Speaking on the sidelines of India Energy Week, Hodgson emphasizes that 'Canada’s success will go through India,' noting that India is projected to drive one-third of the total growth in global energy demand. The Minister highlights Canada's potential as a stable supplier of critical minerals, natural gas, and uranium, offering a secure alternative to volatile energy routes like the Strait of Hormuz. Hodgson also addresses the shifting geopolitical landscape, advocating for multilateralism and free trade to counter the 'weaponization of tariffs' and economic coercion. He underscores the importance of diversifying trade relationships to build economic resilience for middle powers. The discussion further explores potential collaborations in renewable energy and the prospect of a comprehensive free trade agreement to enhance mutual profitability and national security for both nations.
A distinguished panel of geopolitical experts discusses the findings of the 'Mood of the Nation' poll regarding India's foreign policy, noting that the India-US relationship is 'steadily going downhill', with 54% of respondents believing ties have worsened during Donald Trump's second term. The discussion highlights that 45% of the public supports reciprocal tariffs against the US.
On this Special Report, Gaurav Sawant, Senior Executive Editor at India Today, discusses the findings of the 'Mood of the Nation' poll regarding India's foreign policy. Sawant notes that the India-US relationship is 'steadily going downhill', with 54% of respondents believing ties have worsened during Donald Trump's second term. The discussion highlights that 45% of the public supports reciprocal tariffs against the US. The panel, including Rajdeep Sardesai and Geeta Mohan, examines the 'trilemma' of foreign policy: managing a 'rampaging' Trump, the China issue, and deteriorating relations with neighbours like Pakistan and Bangladesh. While the government receives praise for its robust stance and the India-EU free trade agreement, the poll reveals a divided public on whether Prime Minister Modi has adequately countered Trump's claims regarding 'Operation Sindoor'. The programme explores the shift from personal chemistry to economic friction in global diplomacy.
On this Special Report, Gaurav Sawant, Senior Executive Editor at India Today, discusses the 'Mood of the Nation' survey conducted with C-Voter regarding India's foreign policy. The data reveals a significant shift in public perception, with 54% of respondents stating that India-US relations have worsened during Donald Trump’s second term. Gaurav Sawant notes that 'the relationship is steadily going downhill' amidst concerns over Trump’s tariffs. The survey highlights that 45% of participants believe India should retaliate with reciprocal tariffs, while only 6% suggest accepting US demands. The panel, including Geeta Mohan and Rajdeep Sardesai, further examines India's complex dynamics with its neighbours. While 51% see improved relations with countries like Maldives and Sri Lanka due to India's assistance, challenges remain with Pakistan, Bangladesh, and Nepal. The programme explores whether the current diplomatic collapse can be arrested amidst a 'Trumpian world of disorder' and shifting global trade alliances, including the recent India-EU free trade agreement.
On this Special Report, Group Editorial Director Raj Chengappa analyses the latest 'Mood of the Nation' poll findings, suggesting a significant political turnaround for the ruling dispensation. Chengappa notes, 'I think Prime Minister Modi has regained his mojo if you would like to call that,' highlighting the Prime Minister's perceived resilience despite international challenges such as global tariffs and regional instability. The discussion contrasts the BJP's recovery from its 2024 setback with the India alliance's struggle to maintain momentum. The transcript details projections showing the NDA potentially reaching 352 seats, driven by a 'trust factor' and a 'Goldilocks period' in the economy characterized by high growth and low inflation. Panellists including Sanju Verma and Rajat Sethi debate whether these numbers reflect a consolidation of leadership or a lack of a cohesive opposition strategy, while Congress representative Rajesh Kalappa raises questions regarding national security and the accuracy of such polling narratives.
On this edition of India Today Global, Geeta Mohan examines the shifting global alliances as US President Donald Trump’s 'confrontational trade and foreign policies' push traditional allies toward China. British Prime Minister Keir Starmer has arrived in Beijing for a three-day visit to revive economic engagement, marking the first such trip by a UK leader since 2018. The programme also highlights India’s growing diplomatic footprint as New Delhi prepares to host over 10 Arab foreign ministers for the second India-Arab Foreign Ministers Meeting on January 30-31. Discussions are expected to cover regional stability, the Palestinian issue, and the launch of the India and Arab Countries Chamber of Commerce. Additionally, the report covers the strengthening of India-Canada energy ties during India Energy Week in Goa and the escalating tensions between the Trump administration and Canadian Prime Minister Mark Carney over tariff threats and economic sovereignty following the US capture of former Venezuelan President Nicolás Maduro.
On this edition of India Today Global, Geeta Mohan examines the shifting global alliances as US President Donald Trump’s 'confrontational trade and foreign policies' push traditional allies toward China. British Prime Minister Keir Starmer has arrived in Beijing for a three-day visit to revive economic engagement, marking the first such trip by a UK leader since 2018. The programme also highlights India’s growing diplomatic footprint as New Delhi prepares to host over 10 Arab foreign ministers for the second India-Arab Foreign Ministers Meeting on January 30-31. Discussions are expected to cover regional stability, the Palestinian issue, and the launch of the India and Arab Countries Chamber of Commerce. Additionally, the report covers the strengthening of India-Canada energy ties during India Energy Week in Goa and the escalating tensions between the Trump administration and Canadian Prime Minister Mark Carney over tariff threats and economic sovereignty following the US capture of former Venezuelan President Nicolás Maduro.
