Latest Sectors News

European officials have reacted with disbelief to President Donald Trump's latest tariff policy, warning that trade deals could be at risk. View More

watch nowVIDEO4:0604:06President Trump warns of higher tariffs for countries that 'play games' with the SCOTUS decisionMoney Movers Europe has warned that trade deals struck with the U.S. could now be at risk after President Donald Trump unveiled a new global 15% tariff on all imports at the weekend.Trump's move came after the U.S. Supreme Court on Friday struck down his global tariffs policy, implemented last spring, that had upset the long-standing global trading order.The president reacted to the Supreme Court's judgment by initially announcing a new universal 10% levy, using a different legal framework for the latest tariffs, but then increased the global tariff rate to 15% — the legal maximum which can be in place for 150 days before congressional approval is required. The new import duties are "effective immediately," Trump said in a Truth Social post on Saturday. Officials in Europe and London expressed alarm and consternation at the latest upheaval in global trade relations, saying Trump's new tariff policy could upend trade deals signed with the U.S. last year. They asked for more clarity from the White House as to what the new tariff policy framework means in practice for their respective trade deals, which saw most European Union exports to the States hit with a 15% duty, and those from the U.K. slapped with a 10% levy. watch nowVIDEO7:3707:37'A deal is a deal' - European officials refuse to accept tariff chaosEurope Early Edition "Pure tariff chaos from the U.S. administration," the chair of the European Parliament's Committee on International Trade, Bernd Lange, reacted to the White House on Sunday."No one can make sense of it anymore — only open questions and growing uncertainty for the EU and other U.S. trading partners," Lange wrote on social media platform X. "Do new tariffs ... not constitute a breach of the deal? Regardless, no one knows whether the US will adhere to it – or even be able to," Lange said, adding that "clarity and legal certainty are needed before any further steps are taken." The European Parliament's trade committee held an emergency meeting on Monday to discuss Trump's latest trade move, and Lange said in a statement that the legislative work was "on hold" following the U.S. Supreme Court ruling. "The ruling by the Supreme Court of the United States of 20 February 2026 on the use of the International Emergency Economic Powers Act (IEEPA) is clear and unequivocal. Its implications cannot be ignored, and business as usual is not an option," Lange said. "A key instrument used on the U.S. side to negotiate and implement the Turnberry Deal is no longer available," he added. "The situation is now more uncertain than ever. This runs counter to the stability and predictability we sought to achieve with the Turnberry Deal."The European Commission issued a statement Sunday noting that "a deal is a deal" and that it expected the U.S. "to honour its commitments ... just as the EU stands by its commitments." CNBC has asked the commission for further comment. (COMBO) This combination of pictures created in Berlin on January 6, 2026 shows (clockwise, from top L) Germany's Chancellor Friedrich Merz (in Brussels on December 18, 2025), Italy's Prime Minister Giorgia Meloni (in Johannesburg on November 23, 2025), Spain's Prime Minister Pedro Sanchez (in Brussels on December 18, 2025), Poland's Prime Minister Donald Tusk (in Brussels on December 18, 2025), France's President Emmanuel Macron (at the Elysee Palace in Paris, on January 6, 2026) and Britain's Prime Minister Keir Starmer (in London on December 10, 2025). A group of European leaders on January 6, 2026 underlined their support for Denmark after US President Donald Trump again voiced designs on its autonomous Arctic territory of Greenland. Nicolas Tucat,gianluigi Guercia,john Thys,ben Stansall,ludovic Marin | Afp | Getty Images German Chancellor Friedrich Merz told German broadcaster ARD that there would be "a very clear European position on this" ahead of his visit to the White House in early March, but he deferred to the European Commission in Brussels as to how the EU would respond to the tariffs. However, French Trade Minister Nicolas Forissier suggested that Brussels could hit back at Washington. Speaking to the Financial Times, Forissier urged EU members to not "be naive" and to adopt a united approach against the White House's new trade position.The U.K. has also questioned how the new tariff policy will affect its trade deal with the States, which, given its baseline 10% tariff rate, had put the country at a competitive advantage to its European neighbors."Under any scenario, we expect our privileged trading position with the U.S. to continue and will work with the administration to understand how the ruling will affect tariffs for the U.K. and the rest of the world," a U.K. government spokesperson said at the weekend. Trade deals on, or off? Europe's bitter reaction to the new tariff policy means U.S. Trade Representative Jamieson Greer has his work cut out to reassure partners that trade deals agreed last summer still stand. Greer defended Trump's tariff stance on Sunday, saying that the president's trade policy has not changed fundamentally, and that trade deals still stand."The president's policy was going to continue. That's why they signed these deals, even while the litigation was pending. So we're having active conversations with them. We want them to understand that these deals are going to be good deals. We expect to stand by them. We expect our partners to stand by them," he told CBS' "Face the Nation.""And I haven't heard anyone yet come to me and say, 'the deal's off.' They want to see how this plays out. I'm in active conversation with them on it," he added. watch nowVIDEO4:0304:03New Trump tariffs penalize close allies, Tina Fordham saysEurope Early Edition On the face of it, current U.S. trade tariffs on the EU are not changing, with the new 15% rate the same as the rate under its trade deal. Exclusions still apply, too, with pharmaceuticals, critical minerals, fertilizers and certain agricultural products exempt, while other tariffs on auto and steel exports remain the same. Those with the lowest tariffs to begin with are ostensibly hurt more, however, with the U.K. at a notable disadvantage if its trade deal tariff rate is not honored.On a trade-weighted basis, the U.K. faces a 2.1 percentage point increase in its average tariff rate, while the EU sees a 0.8 point rise, according to analysis from Swiss-based trade watchdog Global Trade Alert. In contrast, Brazil's rate plunges 13.6 points, and China's drops 7.1 points.Tina Fordham, founder of Fordham Global Foresight, told CNBC on Monday that the U.S.' closest allies seem to be worst hit by what she described as the latest "trade chaos" but agreed more clarity was needed from U.S. officials."This is an administration that doesn't think too much about second- or third-order effects, and so what we're seeing is that those countries that tried to get in early and do an advantageous deal when the president was first starting to talk about these levies ... are being penalized," she told CNBC's "Europe Early Edition." European markets traded lower on Monday, showing investor jitters over the latest tariff move. European Central Bank President Christine Lagarde warned Sunday that the trans-Atlantic business relationship could suffer as a result of trade uncertainty."It's critically important that all people in the trade, both outside of the United States, but also in the United States, have clarity about the future of the relationships," she told "Face the Nation" on Sunday. "It's a bit like driving. You want to know the rules of the road before you get in the car. It's the same with trade," she added."If it [the new tariffs policy] shakes the whole equilibrium which people in the trade had got used to ... [it] is going to bring about disruptions in the business for sure," she said. Correction: The story has been updated to correct comments from French Trade Minister Nicolas Forissier.

Tata Steel's new manufacturing plant in Ludhiana will begin operations in March. This significant project represents a major boost for Punjab's industrial growth. The plant, a substantial investment by Tata Steel, will create employment for approximately 2,500 people. It will utilize environmentally friendly Electric Arc Furnace technology. This facility marks Tata Steel's second-largest plant in India. View More

Chandigarh: Punjab Chief Minister Bhagwant Singh Mann on Monday said Tata Steel will commence operations at its new manufacturing plant in Ludhiana from March, providing a major boost to industrial growth in the state. Mann said the project shows the increasing confidence of industry in the state's policies and governance. The plant, coming up near HiTech Valley, will have a 0.75 MTPA Electric Arc Furnace-based steelmaking facility, along with a rebar mill. The project is spread over 115 acres. He said the initial investment of Rs 2,600 crore has now increased to Rs 3,200 crore. The plant is expected to create employment for around 2,500 people. The chief minister said the unit will use 100 per cent steel scrap as raw material and adopt an environmentally friendly production process. The Electric Arc Furnace technology reduces carbon emissions compared to traditional methods, he added. Live Events RECOMMENDEDSTORIES FOR YOUTCS and ServiceNow partner to accelerate large-scale AI adoption for enterprisesTata Communications, RailTel partner to expand AI-ready digital infrastructure Mann said the Ludhiana facility will be Tata Steel's second-largest plant in India after Jamshedpur and the company's biggest investment in Punjab. He added that the Punjab government ensured the timely execution of the project and assured full support for its smooth operation and future expansion .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

U.S. President Donald Trump's latest tariffs measures have thrust British businesses into fresh uncertainty. View More

The MSC Emma container ship on the dockside at the Port of Felixstowe in Felixstowe, UK, on Thursday, Nov. 20, 2025.Bloomberg | Bloomberg | Getty Images British companies are seeking deeper trade ties with Europe, business groups told CNBC, as U.S. President Donald Trump unveiled a sweeping 15% tariff on all imports after the Supreme Court struck down previous levies.New tariffs would mark a 50% increase on the level negotiated last year in a trade deal between the U.K. the U.S., making the country one of the worst hit, according to analysis from think tank Global Trade Alert. While U.S. Trade Representative Jamieson Greer said the administration "expects" to stand by trade deals, the U.K. government is reportedly in ongoing discussions with counterparts in America.The seesawing uncertainty is increasingly forcing U.K. businesses to look to closer alignment with the European Union and European countries, as they hunt for predictable trade partnerships, groups which represent U.K. businesses told CNBC."There's just no certainty or consistency and companies are very weary of this," said William Bain, head of trade policy at the British Chambers of Commerce (BCC), which represents 50,000 businesses. "They're potentially looking at other options in terms of doing more trade with Europe or with the Indo-Pacific [region], where there seem to be less risk of fluctuations," he told CNBC. Uncertainty Trump's announcement that there would be blanket tariffs on all imports to the U.S. over the weekend brought further headaches to Europe's business sector, which had seen the longstanding global trading order torn up last year.In April, the U.S. upended the status quo by imposing a range of tariffs on trading partners across the world. watch nowVIDEO7:3707:37'A deal is a deal' - European officials refuse to accept tariff chaosEurope Early Edition The new tariffs have raised alarm in Europe, with governments asking for more clarity from the White House as to what the new policy means for their trade deals. The EU negotiated a 15% duty on most exports with the U.S. in 2025. CNBC has approached the U.K.'s Department for Business and Trade and the U.S.' Department of Commerce for comment. "The U.S. is seen as increasingly unpredictable and there remains some concern about the EU's growth as they strive to compete with the world's main trading blocs," said Emma Rowland, trade policy advisor at UK business group the Institute of Directors (IoD), which represents around 20,000 business leaders.As a result, firms are looking to diversify supply chains or reconsidering the U.S. as a market altogether, Rowland told CNBC. U.S. President Donald Trump inspected an honour guard during a welcome ceremony at Buckingham Palace in central London on June 3, 2019, on the first day of their three-day State Visit to the U.K. Mandel Ngan | Afp | Getty Images "On the whole, businesses have been supportive of the way that the [U.K.] government has pursued a balanced approach to the UK's international trading partners," Rowland said. "That being said, of those who would want the government to prioritise a trading relationship, business leaders would overwhelmingly choose closer alignment with the EU over the U.S."For U.K. businesses, the BCC estimates that the tariff increase will raise the cost of U.K. exports by between £2 billion ($2.7 billion) and £3 billion across a 12-month period. "Many companies have, for example, 12 to 18 months timelines for contracts on supply of goods, and at this point there's very few companies who can say what the tariffs will be and what prices they'll be able to charge in six months time," said Bain.U.K. sectors that could be most impacted by Trump's new tariffs — should they come into force on Feb. 24 at 12.01 a.m. E.T. as previously stated — are food and drink, clothing and footwear and electrical and industrial goods, Bain told CNBC.The "majority" of the U.K.-U.S. deals on car, steel and pharma tariffs were not expected to change but discussions were ongoing, the BBC reported, citing an official spokesperson of U.K. Prime Minister Keir Starmer.

India and Russia are joining forces to advance rare earth and critical mineral technologies. TEXMiN Foundation and GIREDMET will collaborate on mining, extraction, and material development. This partnership aims to boost India's self-reliance in strategic sectors. Joint research will focus on permanent magnets, high-purity metals, and battery recycling. View More

New Delhi: TEXMiN Foundation , the Technology Translation Research Park under India's Department of Science & Technology (DST) at IIT (ISM) Dhanbad, on Monday signed a memorandum of understanding (MoU) with Russia's GIREDMET , a rare metals research institute under Rosatom State Atomic Energy Corporation, to collaborate on rare earth and critical mineral technologies, an official statement said. " Critical minerals and rare earth technologies are central to India's energy transition , electronics manufacturing and strategic sectors," said Sukumar Mishra, Director of IIT (ISM) Dhanbad and Chairman of the Hub Governing Board, TEXMiN Foundation. This partnership with GIREDMET brings together global expertise and translational research capabilities to strengthen India's self-reliance in rare metals and advanced materials. The partnership aims to establish a framework for cooperation across the mining value chain, from exploration and mineral beneficiation to extraction, separation, refining and advanced materials development. The agreement was signed during the Industry-Institute Interaction 2026 (III-2026) conclave and exhibition at IIT (ISM) Dhanbad. The MoU was signed in the presence of Shivkumar Kalyanaraman, Chief Executive Officer of the Anusandhan National Research Foundation (ANRF), Government of India. GIREDMET, formally the State Research and Design Institute of Rare Metal Industry, is represented by its Deputy Director, Konstantin Ivanovskikh. He said the collaboration would combine GIREDMET's expertise in rare earth metallurgy and advanced process engineering with TEXMiN's translational research ecosystem. Live Events "By combining GIREDMET's expertise in rare earth metallurgy, advanced process engineering and materials development with TEXMiN's translational research ecosystem, we aim to accelerate the development and pilot-scale validation of high-impact technologies across the rare metal value chain," Ivanovskikh said. "Our collaboration will support innovation in extraction, separation, refining and recycling processes as well as in production of functional materials for high-tech industries." Under the MoU, the institutions will undertake joint research and development on process technologies for rare earth and critical mineral processing , including pilot-scale validation and technology translation of GIREDMET processes at TEXMiN under the Technology Translation Research Park (TTRP) framework. A key focus area is the development of high-coercivity permanent magnet blocks based on neodymium-iron-boron (Nd-Fe-B), supported by a complete rare earth metallurgical cycle. The partnership will also target high-purity metals and alloys, refractory metal powders and materials for electronics and optics. Dheeraj Kumar, Deputy Director of IIT (ISM) Dhanbad and Project Director of TEXMiN, said the MoU creates a comprehensive research and technology translation framework. "Through pilot validation, advanced processing technologies and digital integration, we aim to accelerate the deployment of sustainable and industry-ready solutions aligned with Atmanirbhar Bharat," he said, referring to India's self-reliance initiative. The collaboration will also explore hydrometallurgical recycling technologies for lithium-ion batteries to recover lithium, nickel and cobalt, and develop recovery solutions for critical minerals from legacy mine dumps, tailings and low-grade or complex ores. Digital twin-enabled smart processing plants integrating artificial intelligence, machine learning and sensor systems are also part of the planned work. Both sides said the initiative aligns with India's National Critical Mineral Mission (NCMM) and Russia's Federal Project for the Development of Rare Metal Industry, with an emphasis on raising technologies to higher Technology Readiness Levels and enabling industry-facing demonstrations. The MoU also provides for expert exchanges, joint doctoral supervision, specialised training programmes and advisory support to governments, public sector undertakings and industry stakeholders. As a next step, representatives from TEXMiN and IIT (ISM) Dhanbad are expected to participate in the International Congress on Rare Metals, Materials and Related Technologies (RAREMET-2026) in Moscow from May 20-22, 2026, where global scientific and technological challenges in rare metals and critical materials will be discussed, the statement added. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

Hindustan Zinc and Tripura Group have signed an agreement to develop a Zinc Park in Rajasthan. This initiative aims to create India's first integrated downstream industrial hub for zinc. The partnership will ensure raw material supply and offtake arrangements. The project seeks to attract investments, create jobs, and boost manufacturing in the region. View More

New Delhi: Hindustan Zinc signed a strategic Memorandum of Understanding (MoU) with Tripura Group to fast-track the development of a Zinc Park in Rajasthan. According to an exchange filing by Hindustan Zinc , the agreement facilitates the operationalisation of a manufacturing unit within the company's Zinc Park located at Khankhala in the Bhilwara district of Rajasthan . The partnership marks a step in establishing India's first integrated downstream industrial hub dedicated to zinc-based value chains. Under the terms of the agreement, Hindustan Zinc provided an assured raw material linkage to the proposed unit of the Tripura Group. The support includes a committed long-term offtake arrangement to ensure stability for the new facility. Both entities align their investment and production plans to enhance scale and efficiency within a robust downstream zinc ecosystem. The initiative focuses on driving sustainable industrial growth across the region by leveraging localised manufacturing capabilities. The Zinc Park project was initially announced by Rajasthan Chief Minister Bhajan Lal Sharma and Vedanta Group Chairman Anil Agarwal during the Rising Rajasthan Global Investment Summit in December 2024. Live Events Situated near the mining and smelting operations of Hindustan Zinc at Chanderiya, Dariba, and Debari, the hub operates in collaboration with the Rajasthan State Industrial Development and Investment Corporation (RIICO). The project aims to attract new investments, foster job creation, and strengthen the industrial framework of Rajasthan through a dedicated manufacturing corridor. Arun Misra, Chief Executive Officer of Hindustan Zinc, stated, "Zinc Park is a strategic initiative that translates our long-term vision for a resilient and competitive metal value chain into concrete action. Our partnership with Tripura Group demonstrates how targeted collaboration can unlock downstream value and accelerate Make in India manufacturing. The assured supply arrangements, coupled with performance-linked incentives and renewable energy commitments, will provide investors with the confidence to scale. We are determined to build an ecosystem that supports MSME growth, creates local jobs, and drives technological improvements across the zinc value chain." Tripura Group enters the project as an anchor investor, bringing expertise in beneficiation inputs and process optimisation for metal processing . The collaboration intends to drive operational synergies and improve efficiency for downstream processors while bolstering the reliability of industry inputs. This technical integration supports the broader goal of enhancing the quality of materials available within the domestic market. Hindustan Zinc, a Vedanta group company, continues to engage in consultations with potential investors to scale the Zinc Park in a phased manner. The company works alongside Rajasthan State Industrial Development & Investment Corporation Limited (RIICO) and state authorities to deliver the industrial park with industry-grade infrastructure and a focus on skill development for local communities. The project remains centered on maintaining strong sustainability credentials as it expands its footprint in the zinc-based industrial sector. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

Asia stocks were mostly higher, safe-haven assets stayed firm, with yield on the 10-year U.S. Treasury little changed, while gold inched about 1% higher. View More

Traders work on the floor of the New York Stock Exchange during morning trading on February 20, 2026 in New York City. Michael M. Santiago | Getty Images Markets have taken U.S. President Donald Trump's latest tariff salvos largely in their stride, with investors assessing the moves might not have a lasting impact on trade.The MSCI World Index, which measures global stock performance, was flat. Safe-haven assets stayed firm, with yield on the 10-year U.S. Treasury lost a little over one basis point, while gold inched up around 0.8%. The U.S. dollar index slid around 0.3%."The market didn't really react much to the news. It was already widely anticipated," Ed Yardeni, president of Yardeni Research, told CNBC. "The market learned last year that the [global] economy is remarkably resilient in the face of what I call Trump tariff turmoil." Sit on hands and do nothing, this is just noise, there will be something new to worry about within a few days.Hugh DiveAtlas Funds Management Trump's move to raise global tariffs to 15% from 10% initially announced, comes after the U.S. Supreme Court struck down a broad swath of levies he had imposed under the International Emergency Economic Powers Act. Market strategists said that the Supreme Court's ruling looks more like a procedural reset than a reversal of protectionist policy. Section 122, under which the new tariffs have been imposed, effectively replaces the invalidated IEEPA tariffs on a temporary basis, while leaving in place duties under Section 301 and Section 232, including those targeting steel, autos and China.So, not much has changed to unnerve the markets — at least, not yet. Sit tight and do nothing? Analysts suggest that the key for investors now is to be patient."No statement on trade policy from Trump is now treated as durable," said Hugh Dive, chief investment officer at Atlas Funds Management. "Sit on hands and do nothing, this is just noise, there will be something new to worry about within a few days," he added.Trump has developed a reputation among investors for using tariffs as a negotiating tactic, announcing sweeping or aggressive measures, then recalibrating once market stress or diplomatic pushback becomes clearer. The move has been widely referred as TACO: Trump Always Chickens Out."The President really wasn't going to accept defeat without having a counter or strategy," Yardeni said. However, he noted that the new approach is constrained: tariffs under Section 122 are temporary and harder to tailor country by country."It was much easier when he could use tariffs as a sledgehammer," he told CNBC. "Now it's become sort of a rubber mallet. It's certainly not as powerful a tool."As for how investors should position, Yardeni echoed Altas' Dive: "Sit still and do nothing. Focus on earnings, focus on the resilience of the economy." watch nowVIDEO4:5504:55Global trade is more 'buffered' against Trump's tariffs this time aroundSquawk Box Asia He also argued that last year's tax legislation has "locked in some fairly stimulative fiscal policy," which could help cushion any tariff drag. With midterm elections approaching, Yardeni suggested trade may recede as a political priority. "I won't be surprised if the whole tariff approach gets buried between now and the midterm elections."Others are a bit more cautious."It would make sense to lighten up on risk unless you believe that you can see clearly through the confusion," said Steve Sosnick, chief strategist at Interactive Brokers. He noted that investors can consider trimming U.S. equity exposure in favor of global companies less vulnerable to U.S. trade gyrations.That said, to some extent, investors have already become accustomed to the "President's capacity for "anger and desire for revenge," though the escalation serves as an unpleasant reminder, he said.From a cross-asset perspective, Sosnick said the impact could be limited as long as positive investor psychology allows them to look past the negative short-term impacts. That said, persistent uncertainty could weigh on global trade and corporate planning, making it "incredibly difficult to see how the prospect of future levies can be viewed as market friendly."Cryptocurrencies saw a sharper reaction Monday. Bitcoin's slide of more than 5% reflects its status as what one expert called "a high-beta liquidity asset than a traditional safe haven.""A 5% move is well within its normal volatility range," said Billy Leung, investment strategist at Global X Australia. Absent a regulatory shock, such pullbacks are typically flow-driven rather than fundamentals driven, he added.Bitcoin has been on a steady decline since last October after it crossed $125,000, with the downturn extending into 2026. The world's largest cryptocurrency is down 26% so far this year and has lost over 47% since the October high.Leung's base case is that markets treat the 15% tariffs as "more noise than a structural reset."  "There may be an initial volatility spike, but unless this evolves into a clearly durable and broad-based escalation, it is unlikely to materially derail global earnings or growth expectations."

Global governments are reacting to the US Supreme Court's invalidation of President Trump's emergency tariffs and subsequent 10% global tariff. Many nations, including Brazil, Cambodia, and South Korea, anticipate limited impact on their trade agreements, while others like the EU and France are reassessing their trade deals and considering retaliatory measures. View More

Here’s what governments around the world are saying after the US Supreme Court invalidated President Donald Trump’s broad emergency tariffs and his subsequent move to impose a 10% global tariff under a different statute. Brazil Trump’s 10% tariff won’t affect Brazil’s competitiveness on trade, Vice-President Geraldo Alckmin told reporters on Friday. “It opened an even wider avenue for more robust foreign trade,” he said. Cambodia Deputy Prime Minister Sun Chanthol said Cambodia is “moving forward with the ratification of the agreement on reciprocal trade that we signed with the US.” “The ART is not only about one tariff rate. It covers other topics that we have agreed with the US and we honor our commitments,” he said in a text message. Live Events Canada Dominic LeBlanc, Canada’s minister for US trade, said the ruling reinforced his country’s position that tariffs under the US International Emergency Economic Powers Act were “unjustified.” European Union EU lawmakers will hold an emergency meeting Monday to reassess the bloc’s trade deal with the US, which would erase tariffs on most US goods and set a 15% levy on EU products. France France wants to continue exporting its goods from the agricultural, luxury, fashion, cosmetics and aeronautics industries with “the fairest rules possible,” President Emmanuel Macron said, adding that the country will “adapt accordingly.” “What we want is reciprocity and not to be subject to unilateral decisions,” he said, while emphasizing a need “to focus on appeasement at the international level and continuity in the modernization of our economy in all these sectors.” Brussels has the tools, including its “trade bazooka” — the Anti-Coercion Instrument — to hit back at the US for its latest round of tariffs, France’s Trade Minister Nicolas Forissier told the Financial Times . Germany Chancellor Friedrich Merz’s deputy and Germany’s finance minister, Lars Klingbeil, said Europeans need to maintain their united stance and become so strong “that no one can blackmail us.” “Uncertainty remains high,” he told Frankfurter Allgemeine Zeitung, pointing to industry-specific tariffs in key sectors like automobiles and steel that aren’t covered by the ruling. Hong Kong Hong Kong will see a “limited impact” from the new 10% US tariff, Secretary for Financial Services and the Treasury Christopher Hui was cited as saying by the South China Morning Post. India The government is studying the implications of the judgment and the subsequent steps announced by the Trump administration, India’s commerce ministry said. Opposition leaders called for Prime Minister Narendra Modi’s administration to renegotiate the nation’s trade deal with the US, while the head of the Federation of Indian Export Organisations said “we all have a level playing field now.” Indonesia Indonesia, which finalised its trade pact with the US on Thursday, said the continuation of the deal “remains dependent on the decisions of both parties,” with both sides still needing to seek domestic approvals before the agreement could come into effect. The two sides will hold further bilateral talks regarding all decisions made, said Haryo Limanseto, a spokesperson for the Coordinating Ministry for Economic Affairs. Malaysia Malaysia recognizes the US “retains other legal mechanisms to impose trade measures, including unilateral tariffs, should it choose to do so,” Minister of Investment, Trade and Industry Johari Abdul Ghani said. “We also note the recent announcement by President Donald Trump of a temporary 10% tariff measure, and we are studying its scope and implications. At this stage, we are awaiting further clarity on how these measures will be implemented and whether additional adjustments will follow.” “We have signed the Agreement on Reciprocal Trade but have not ratified it and the Government is carefully assessing recent legal and policy developments in the United States,” he said. Mexico Economy Minister Marcelo Ebrard said he planned to travel to the US next week to address trade issues. South Korea South Korea said the Supreme Court ruling would not derail its broader trade agreement with Washington. Industry Minister Kim Jung-kwan held an emergency meeting Saturday to assess the decision. The ruling renders void the 15% reciprocal tariff currently applied to Korean goods, the Ministry of Trade, Industry and Resources said in a statement. “Although the ruling has heightened uncertainty over exports to the US, the overall framework of export conditions secured under the Korea-US tariff agreement will remain intact,” Kim said. Sectoral tariffs on automobiles and steel, imposed under separate laws, remain in place, and are unaffected by the court’s decision, the ministry said. Taiwan Taiwan expects limited impact from Trump’s imposition of a 10% global tariff, cabinet spokesperson Michelle Lee said, citing an initial assessment. Thailand The Thai government will continue trade negotiations with US to maintain stability in trade and investment relations, mitigate risks from volatile trade measures, and manage potential impacts on Thai businesses, according to Commerce Minister Suphajee Suthumpun. “Renewed uncertainty over US tariffs could trigger another round of front-loading, prompting buyers to stock up again and supporting Thai exports early this year,” Nantapong Chiralerspong, director-general of the Trade Policy and Strategy Office under the Commerce Ministry said. The Philippines Finance Secretary Frederick Go said the country will continue to engage with the US as “they are an important trade and investment partner.” He added that previously, the majority of Philippine exports to the US were already exempted from tariffs even before the Supreme Court decision. United Kingdom London is working with Washington to understand how overturning US tariffs will affect the UK but expects the country’s “privileged trading position” with the US to continue, the Press Association cited a government spokesman as saying. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now!

Tata Steel aims to source half of its iron ore from captive mines after 2030, down from the current 100%—marking a change in strategy due to rising auction prices. The company is also working on overseas sourcing and recycling operations, although higher market dependency may raise costs. View More

Palfinger AG is localizing manufacturing in India through a partnership with TVS Mobility Group. This move aims to reduce costs by 30% and expand market reach. A new manufacturing facility in Pune will begin production by 2027. The collaboration covers supply chain, dealerships, and aftermarket support. View More

Mumbai: Palfinger AG , manufacturer of loader, boom and recycling cranes and other lifting equipment, is moving to localise manufacturing in India, betting that a 30% reduction in costs through local production will substantially expand its market reach. The company has got into a comprehensive agreement with TVS Mobility Group , which has been distributing Palfinger cranes in India since it began selling here in 2007. The latter will now take on a significantly expanded role covering supply chain , dealership and aftermarket support. Andreas Klauser, chief executive of Palfinger AG, said the strategy is about building scale through partnership. "By combining strengths, we are expanding our footprint, improving parts availability and service responsiveness, and building a scalable platform for sustainable growth," Klauser told ET. R Dinesh, director of TVS Mobility Group, said the expanded tie-up leverages the group's integrated ecosystem to enable "faster go-to-market, operational efficiency and scalable lifecycle support" for Palfinger's India expansion. Palfinger is investing ₹350 crore in setting up a manufacturing facility in Pune, with production expected to begin by 2027. Initial capacity will exceed 1,000 cranes annually, alongside steel components destined for export to other Palfinger markets. The plant will employ around 200 people in its first phase. Klauser noted the move fulfils a commitment made to Prime Minister Narendra Modi during his visit to Austria last year. The context is significant. India's construction equipment market is currently valued at around $6 billion and is growing rapidly, driven by large-scale public investment in infrastructure, affordable housing, metro networks, national highways and defence, said Santosh Rao, senior vice president, APAC. Live Events "Palfinger has grown at a 17% CAGR over the past decade entirely through imports. We see localisation as the lever that unlocks meaningful volume growth across these segments," he said declining to share absolute numbers. The TVS Mobility partnership covers the full commercial lifecycle-supply chain, dealership, aftermarket and vehicle-on-demand operations-with the two companies also set to jointly explore defence sector opportunities. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)

Coal demand is set for a significant increase. This comes as electricity consumption shows a strong recovery. Power demand grew in December and continues to rise in January. Harsh winter conditions and improved economic activities are driving this trend. This will likely boost coal demand in the coming days. The Indian Coal Markets Conference will discuss these developments. View More

New Delhi: The country's coal demand , which had remained weak earlier in the current financial year, is poised for a boost in the coming days on the back of a sharp turnaround in electricity consumption , an industry expert said on Sunday. Vinaya Varma, Managing Director of mjunction services ltd -- a B2B e-commerce platform and joint venture of SAIL and Tata Steel -- said after successive months of negative growth in October and November, power demand staged a strong recovery in December with a 6.3 per cent growth. "The tempo has been maintained with power consumption continuing to rise in January as well, due to a harsh winter and general improvement in economic activities ," Varma said. "This, we believe, will boost coal demand in the coming days," he added. The country's coal sector , after hitting a record one-billion-tonne production milestone, is staring at a surprise demand slowdown, forcing major public firms and new commercial miners to rethink expansion plans amid rising uncertainties. Live Events Against this challenging landscape, mjunction will organise the 19th Indian Coal Markets Conference , "Coalosseum: The Coal Battleground" from February 24-25 in Kolkata. During the conference, top 36 eminent speakers from coal, power, cement, sponge iron, steel, trading, exchange, and logistics sectors will address various issues facing the coal and energy vertical in the country. .Pbanner{display:flex;justify-content:space-between;align-items:center;background-color:#ec1c40;margin-top:20px;padding:5px 10px;border-radius:4px;color:#fff;line-height:10px;} .Pbannertext{display:flex;align-items:center;font-size:16px;font-weight:600;font-family:'Montserrat';} .Pbannertext img{height:20px;margin:0 6px} .Pbannerbutton a{display:flex;align-items:center;background-color:#fff;color:#ec1c40;text-decoration:none;font-weight:600;padding:4px 8px;border-radius:6px;font-size:15px;font-family:'Montserrat';} .Pbannerbutton img{height:20px;margin-right:6px} .Pbannerbutton a:hover{background-color:#f7f7f7} Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) (You can now subscribe to our Economic Times WhatsApp channel)