United States (US) President Donald Trump Threatens New Tariffs on Indian Rice Imports

Key facts

• United States (US) President Donald Trump hinted at potential new tariffs on Indian rice imports, citing 'dumping' as damaging domestic growers.
• Indian rice exporters on Dalal Street faced a significant downturn following the US President's remarks.
• Kohinoor Foods stock fell 9.9% to Rs 24.41, reaching its intraday and 52-week low on the BSE.
• LT Foods stock dropped 6.5% to Rs 368, while KRBL stock retreated 2.7% to Rs 370.05.
• The US had previously imposed a 50% tariff on Indian goods in August, consisting of an already levied 25% tariff and an additional 25% duties.
• The US alleged the additional duties were due to India's continued purchase of Russian oil.
• US President Donald Trump also hinted that Canadian fertiliser imports could face higher duties, with earlier proposals suggesting a rise of up to 10%, potentially reaching 45%.