Over 300 skilled jobs in the local supply chain will be part of new contracts signed with Bridgend-based companies Darlow Lloyd and Sons, Wernick Buildings, and Swansea-based business, Andrew Scott Ltd.
As investors braced for economic fallout from Trump’s tariff policies, technology stocks bore the brunt of the downturn, with the Nasdaq Composite suffering its worst single-day loss since 2022, plunging 4%.
The GST Council, headed by Sitharaman and comprising her state counterparts, in September 2021, set up a group of ministers (GoM) to rationalize GST rates and suggest changes in slabs. The GoM comprises finance ministers of 6 states.
The two nations have committed to negotiating a multi-sector Bilateral Trade Agreement by the end of 2025, aiming for an ambitious $500 billion in annual trade by 2030 as India announces to its plans to reduce tariffs on key American exports.
Acknowledging that the proposed tariffs could impact India, the Finance Minister said Commerce Minister Piyush Goyal is currently in discussions with top US officials to address the issue.
The urgency follows rising concerns over potential tariff hikes under US President Donald Trump’s trade policies and a recent meeting between leaders of two countries in which they reaffirmed their commitment to sealing the long-awaited trade pact this year.
On Feb 28, Prime Minister Narendra Modi and European Commission President Ursula von der Leyen agreed to seal a much-awaited free trade deal by this year amid rising concerns over US President Donald Trump's policy on tariffs.
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